The Principality of Monaco is a niche market with the most millionaires per capita in the World, a unique field of accomplished HNWI. In this market anything can be sold to someone if he wants it even though he does not need it, but nothing can be sold that he does not want even if he needs it.
One of the major elements of the Luxury market is the desire. Simple putting a price tag on a product and shouting it around loudly is not enough. Altough the golden rule is:
Anything can be sold to someone if he wants it even though he does not need it, but nothing can be sold that he does not want even if he needs it.
The Principality of Monaco is a niche market with the most millionaires per capita in the World, a unique field of accomplished HNWI. Just to ensure a number the average household has over 3 million Euro (and not to mention the wealth of the ultra-rich).
Why you should Care?
- The Principality is a small & concentrated place
- Even if it is like a “Club”, you will feel the Competition
- Word of Mouth has its own limitation
- It is better to Prosper instead of aiming to Survive
Getting new Clients
- it is not about spending more money
- if you can not close leads you will never prosper in the Principlaity
- it is also about an efficient utlisation of the local, Monaco market specialities
So how can you catch the desire of the people in Monaco? How the Monaco market differes from the other luxury markets? Which are the top mistakes that brands make and how to avoid them?
First of all we need to understand the basics of luxury.
Fact: 99% of opportunities are lost by wrong and bad implementation, these are the cases when the excuse becomes the idea. The truth is that you can capitalize your potential by creating integrated marketing channels. And these does not need big investments. Just think about it, if result cannot be gained from a small budget then what kind of result can be expected from an increased budget?
Discover more about the basics of the luxury market: Luxury 101.
Top 5 mistakes in Monaco & How to avoid them
To ensure you some role examples we have collected the Top 5 mistakes we repeatedly see from foreign brands coming to Monaco. We have also asked some of the Top experts from Monaco as well as from the UHNWI fields to share their personal views, experiences and to offer their advices in order to fulfil your goals.
Discover more about the Top 5 mistakes in Monaco.
If you are looking for more information please feel free to reach us out at firstname.lastname@example.org.
We also invite you to discover our media offer. Thanks to our exclusive members database and the effective use of our sales intelligence, you can easily reduce your sales cycles while you can increase your revenue productivity. No matter whether you target private individuals or corporations in the Principality of Monaco.
Living in Monaco
It is available for purchase in English at: http://amzn.com/1496107004
The author Zsolt Szemerszky intended to hunt down the myth around Monaco and to go beyond gossips. Zsolt is also know by releasing Monaco’s first gourmand book. The Signature Dishes of the Principality of Monaco was launch last December 2016 as the number one release in wine pairing at Amazon.com allows gastronomy lovers to discover the excellence of the Principality of Monaco thanks to recipes and interviews with Executive Chefs who hold together over 50 Michelin stars.
However Living in Monaco is significantly different from his other books. It is not a travel book, it is an ultimate guideline to those who are aiming to get a glimpse about the real Monaco and who have the desire to relocate their personal or business life to the Principality.
The book explains the benefits of the relocation (both for private and business reasons), the life quality in the Principality, and reveals how can one capitalise the unseen treasures and business potentials of Monaco. The “Relocation and what it takes” chapter also explains all the tiny details, traps, tips and best practices while it offers a detailed overview of the administrative mechanism of the Principality.
One of the interesting part of the book is the second part which focuses on the people, the opportunities, and the traps in Monaco. It offers a first hand guidance to avoid to fell for the catchy workings and the illusions of luxury. Understanding the real-life examples one can truly enjoy the Principality with all its safety and protective legal systems for families and businesses.
The book is available for purchase in English at: http://amzn.com/1496107004