Where do those with a very high salary…

[QuestionNewName]

… hang out!

Ok, my question is slightly more specific than that!

My BF has a company and will soon specialise in services to those high up in the corporate bubble. Think similar to coaching. It’s likely clients may pay out of their own pocket rather than through work (think several thousand £ a month, so not small change!).

To the question, any suggestions on how brand awareness can be built other than personal referrals etc?! Not London based so ideally online.

Having been a SAHM for yonks, I’m totally out of touch! Don’t think my IG scrolling is quite the target audience!

LinkedIn

How does your bf know they will pay thousands per month for a service when they don’t even know how to reach the target audience?

We have built a multi million pound turn over business since 2020 due to networking on LinkedIn and the BNI. We have paid some one to do our LinkedIn but it has paid off. It is a massively different field to what you are offering tho. Whilst we where locked down and unable to work onsite it gave us an opportunity to focus on growth and networking.

Thousands a month is a lot - would agree with PP what is it / why / creating a market or trying to get market share?

My company did pay for my last batch of coaching so don’t underestimate the corporate route if you could be construed as some kind of benefit package - eg high end law, finance, consulting etc

He could advertise and network in private member's clubs, they gather professionals and their fees may make sure that their members are the target audience.

I have used services of an executive coach as have many of my peers. It’s virtually always paid for by a company, although due to personal relationship there’s a lot of autonomy in the selection process so word of mouth is critical.

I’d suggest that if your BF doesn’t know how to target his market then it may not be the success he anticipates

Really great to hear of the successes on here, and thank you all for your comments!

BF has been part of the world so does have a good idea, but we were talking last night and I thought I’d post here for any extra nuggets!

Interesting BNI is mentioned, IOD is another one being explored

Why would people who are capable enough to get that high up the corporate bubble that they can spend several thousand a month like this need coaching from your boyfriend? Has he ran a global corporation? I assume so? They will take coaching from peers. And if so then he knows how to reach them and doesn’t need random mumsnetters to tell him how do it?

This is quite odd.

Depends what sort of industry as to what collaborations could work, I'd guess hang outs would be private members' clubs, golf, polo, formula 1, horse races, rowing, high end holidays, collaboration with private bespoke travel agencies? But imagine advertising in these fields will be £££££££

Several thousand a month out of their own disposable income?

One of my family does corporate coaching. They earn $$$ by getting a large retainer from big companies and doing 'in-house' training. The company definitely pays for the coaching.

Just to add, people with high salaries are just as fussy about 'value for money' as other folk. They aren't collectively some kind of cash cow.

Some great comments so thanks, and others are giving me a good chuckle, especially the influencer one . To confirm it’s not coaching (or influencing!), but it’s a service so used that as an example.

Corporate PSLs is definitely a tried and tested route, but the self funding is newer, hence me wondering if I could help BF by getting any extra ideas here BF hasn’t asked me to, I was just scrolling and thinking about our chat last night and thought I’d bring it here as have got so many helpful things in the past (related to me though!)

Sometimes it is better to market to the employers who then pay for the bankers and others to have the particular service. It depends on the service. Eg the Financial Times has a regular magazine How to Spend it which was even found when the US went in to kill Gadaffi - he had piles of the magazine. I pay an FT subscription for example.

Some sports are quite niche and for the rich or hobbies - private yachts, planes etc.

I live on a private road with fairly expensive London houses and people specifically come up this road with leaflets because they know everyone on here is probably fairly better off.

I have clients who use Instagram and hire influencers. If you do that have a written contract drawn up by a solicitor and check all relevant laws.

If you look at those taken in by fraudsters like Madoff they were people who knew other people at expensive health and other clubs, relatives, friends of friends.

I’m friends with a few millionaires (as in monthly salary at footballer level) and I can’t see any of them parting with a few thousand pounds a month for many intangible services…as PP said rich people are just a value conscious as everyone else

I’m struggling to understand what it would be tbh - if it’s work related yes I would expect work to pickup the bill - I would not pay myself for coaching / executive edu courses etc

And at home I can’t see what I would pay thousands for - beyond things like nanny / housekeeper / virtual PA (maybe but unlikely that much) / fitness (again not thousands)

But perhaps you are looking at people with 7-fig salaries as your target audience

But trying to be practical - bundling with other service providers eg wealth management, would that work? Via high end Concierge services eg Coutts, various bank black cards HNW offerings

Yup good points DaveGrohl

Love that I’m getting to tag @DaveGrohl ! Great idea, thank you

@Xenia really appreciate that, also learnt something new re: Gadaffi!

George Michael of Wham! was a high earner and he used hang out (often literally) in public toilets.

Not professional football-level salaries but I earn six figures and am struggling to think of something work-related that a) costs thousands a month, and b) that I’d pay for myself.

I’ve had an executive coach though work, mentoring, various types of development. They’re certainly not cheap, but didn’t amount to thousands a month.

Maybe if you were more specific about what he’s doing, people could be more specific about where he can look for business?

I think he needs to be targetting others providing high end services for rich people rather than trying to contact the rich people themselves.

I'm thinking their accountants, lawyers, personal trainers, social media gurus, hotel concierge, etc. You need a foot in the door and a personal recommendation from someone they already know and trust is the easiest way to get in.

Bad day, or are you always so nasty?