Challenge 5: The Socialite Strategy

Target Population: Wealthy, upper class, society women who are not working a full time job and live in major cities in the United States. Ages 40-55. According to the CIA World Factbook, there are roughly 32 million of these women in the United States[1]. We assume that the wealthy upper class women belong to the 10% of the population who belong in the top income bracket, so our target population is roughly 3.2 million women. Using the sample size calculator[2], this means we need to interview 97 women of this target population to get a representative sample.

Target Persona[3]: Jacqueline Kendrick, age 48.

Jacqueline is a part time jewelry entrepreneur who creates jewelry that she sells to her friends in her Upper East Side neighborhood. Her two children are now in college, so she has more time to pursue her jewelry and fashion interests.

Fashion is essential for Jacqueline because her clothes represent her personal brand. As an influential social figure in her wealthy community, Jacqueline is very aware that she’s in the public eye and is highly receptive to appeals that bolster her self importance and self worth.

Engagement Strategy:

Step 1: Identify 120 women from areas in the US with high concentrations of wealthy, upper class communities. We only need 97 responses, but we target 120 in case of non responses. We will evenly target women from NYC, Atlanta, Miami, Los Angeles County, Orange County, Greenwich CT, Houston. We identify them them from marriage announcements from the 80’s and 90’s (roughly when they would have been married) as well as looking for the wives of prominent businessmen.  

Step 2: Mail the target women an embossed, wax sealed card (see above) inviting them to take the survey. We actually found a card designed by Oscar de la Renta on Paperless Post that conveys a sense of exclusivity, gravity, and high fashion that we believe will be taken seriously by these women. The actual text of the letter (see below) markets the study as an exclusive invite that asks the women to consult as a fashion expert for the company. This appeals to their vanity and sense of self importance, which ideally will bolster survey response rate.

Note: While it may seem that embossed, wax seal letters will go over the $100 budget, we believe that a major fashion label like this one will have partnerships with FedEx/other mail carriers that significantly reduce the cost of mailing. Additionally, the cost of high quality paper (which is already in the office) coupled with the high quality design, will be much cheaper than if we purchased the supplies from Papyrus or its ilk. 

Text of the Letter

Dear Mrs. Jacqueline Kendrick,  

You have been hand picked to take part in an exclusive survey that will determine the future of a Fortune 500 fashion house. Your influence in the community as a prominent, respected tastemaker makes you one of the elite few survey candidates from across the nation. We will be sending you an email containing further details and the survey itself. We look forward to incorporating your perspective into our business.  

Sincerely, Dr. Beth Altringer CEO

Step 3: Follow up in the next day with an email that is the online version of the card we sent which contains the actual survey. We don’t emphasize that the survey is short, rather that it is exclusive and asks for her opinion.

Sources:

  1. https://www.surveymonkey.com/mp/sample-size-calculator/
  2. https://www.cia.gov/library/publications/the-world-factbook/geos/us.html
  3. https://www.entrepreneur.com/article/246085
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