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Limited-Edition Cause-Related Marketing

Still selling $15 pink hoodies and $28 cosmetic bags to benefit your charity? That’s so 2006!

Right now AudreyBags.com is selling limited-edition handbags to benefit the Audrey Hepburn Children’s Fund. Audreybags, like the Trocadero to the left, are made of canvas and feature images of the timeless beauty that is Audrey Hepburn.

Only 36 of each handbag is made. Prices range from $325 to $825. The Trocadero clocks in at $725.

I love Audrey Hepburn. But I can’t imagine paying $725 for a canvas handbag (I don’t carry handbags so I can’t imagine paying even $25 for one). But Audreybags.com isn’t targeting me. They’re targeting high net worth individuals.

If you sell merchandise as a part of your cause-related marketing or fundraising you might strongly consider targeting a similar audience.

Here’s why.
  • According to the 2007 World Wealth Report from Merrill Lynch and Capgemini, the number of high net worth individuals… people with net assets of $1 not including their primary residence… increased 8.3 percent over 2005.
  • There are now 9.5 million people (!) worldwide who meet this standard.
  • The number of ultra-high net worth individuals… those worth at least $30 million not including primary residences… grew by 11.3 percent year over year to 94,970.
  • High net worth individuals now hold more than $37.2 trillion in wealth, a gain of 11.4 percent over 2005.
  • The wealth is real, driven in part by gains in GDP and market capitalization growth.
  • The total wealth of high net worth individuals is expected to grow at an annual rate of 6.8 percent through 2011, rising to $51.6 trillion.
In short, there are plenty of people who can afford an Audreybag.

But will they buy it? That depends on how shrewdly Audreybags.com markets their wares. Can Audreybag reach their audience effectively? Will Audrey Hepburn’s considerable cachet translate into the status that high net worth individuals often crave? Is 36-count limited edition exclusive enough? What will they do with inventory should it not sell? Is the online direct-to-consumer sales channel sufficient by itself?

There are other charities that could pull off something like Audreybag. Perhaps yours is one of them.

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