In my last blog post, I talked about how the marketing and media environment is blossoming with ways to reach out to top five percent of affluent consumers and business leaders. Since I last wrote, the tides have turned a bit.
I recently learned that Halogen Media Group, an online media partner, has broadened their business model from an online luxury advertising network to a prestige online communication network. Halogen’s newly launched website states, “Our mission is to help prestige brands leverage…their audiences to create brand consideration and preference.” Sounds like a subtle nuance but in fact it’s a huge paradigm shift for Halogen.
Many luxury brands have recognized that one way to increase business significantly is to create products that embrace consumers at a more accessible price point. Halogen”s VP of Sales, Lance Goler, said that, “Apple, W Hotels and Coach are perfect examples of prestige brands.” What these brands have in common is that unlike traditional luxury brands, they command a desirable price point and are created for the masses rather than exclusively for the most affluent of consumers. Halogen’s future target seems to include the 10 percent market with household incomes in excess of $150K.