Noticed this in the local paper today…“Rolling Stones’ $7.2m Gig”.
“The Rolling Stones have been named the world’s highest-paid private performers.
The band, fronted by Sir Mick Jagger, command a staggering GBP 3.5 million (A$7.2million) per private performance a new book has revealed.”
The book in question is “Pop Babylon” by Imogen Edward-Jones.
Wonder if they do requests for that price?
Artists like Elton John and Rod Stewart go for a very reasonable GBP 1million in comparison. Pretty much any act is available for the right price.
What’s interesting to me about this is the glimpse into the world of the Mega-Rich and the market segment that’s loosely termed the “Affluent” (strictly, this relates to the “Ultra-Affluent” – personally I think “Mega-Rich” sounds better).
It’s a market segment that Dan Kennedy has been talking about for a number of years now. And my good mate copywriter Pete Godfrey has quietly been doing some work on this market in Australia.
The point is that there are a lot of very rich people out there (and a lot more simply rich people). They have money to spend and they are not reluctant about doing so. There is a big opportunity for smart marketers who can give them what they want.
Of course, what the Affluent want is not the same as the mass market. Status and exclusivity is a big part of what appeals to them. Dan Kennedy has an excellent book on the topic “No B.S. Marketing To The Affluent”.
Now, you may be thinking “What about the looming tough times and all the talk of recession (if not actually depression)?” Well, the point to keep in mind is that in tough times the Affluent are the least affected. The people who have to cut back on spending are those who weren’t really rich in the first place. Granted, a lot of those would have been buying “Affluent” products and services in the good times. But the truly Affluent are not going to be hit too badly.
Marketing to the Affluent is a huge topic. I’ll simply leave one copywriting tip and that’s the magic appeal of “Membership” and exclusivity when addressing this market. It works in many markets, of course, but this one in particular.
Back to where we came in. What better way to stand out from the crowd than by having your own private party with “The Greatest Rock And Roll Band In The World”? Sure beats having to slum it with the masses in some ghastly stadium or arena! It’s one way to get some “Satisfaction” – albeit at a hefty price.