With the economy tightening up, marketers are getting imaginative and coming with value adds to attract the affluent's attention, because figures show they are still spending. A survey of over 3700 millionaires by Russ Prince and Lewis Schiff, authors of the book Middle Class Millionaire, revealed that close to 90% of U.S. millionaires, with a household income of $1 to $10 million, say they would increase their spending in 2008 if offered a special value add.
One of the best examples I've seen recently is the Four Seasons Miami "Something Borrowed" promotion. Brides holding a wedding at the hotel with at least 175 guests may borrow up to $30,000 of Van Cleef & Arpels jewels to wear on their big day. Brilliant!
Another clever idea is Le Meridien's "Unlock Art" promotion. In an effort to keep their cultured, worldly guests intrigued, the hotel has created collectable key cards, designed by artists such as Hisham Bharoocha and Sam Samore. But the key cards aren't just arty, they also give guests access to local art institutions such as Vienna's Secession and Shanghai's Museum of Contemporary Art.
