1. Luxury brands don't compete.
There is no comparison with luxury brands.
Focus on your own unique identity and the reasons why your customers should resonate with it.
2. Use the price/value bias
The higher the price the more the perceived value.
Focus on the meaning behind your brand, and what it means to use your product to influence the perceived value.
3. Sell to those who want to be rich
Its been proven by social science and psychology that luxury brands don't sell to the rich, they sell to those that want to be rich.
Your price point should be just outside of your target Audience's income.
4. Ignore rising demand.
Luxury brands don't tweak quantity to respond to new demand of consumers.
Set a specific number of units you are willing to produce and stick to it.
5. Target people with low self-esteem
Speak to customers Esteem needs. Make your customers feel like a better person
6. Use the forbidden fruit effect
Luxury brands intentionally keep anyone that is not a super fan...
Niching allows you to avoid competing against huge players that already dominate the space
Appeal to a smaller focused market segment
Consider how you can make your product or service more bespoke
Don't compete, infiltrate new opportunities
Positioning is how your brand is perceived in your customers mind.
What makes your product or service different?
What makes the experience different?
What is different about how tou make customers feel?
Expensive brands give their brand meaning. Often in the form of emotional value, or expressing a buyers status/role in society.
Connect your brand to an idea/even a cause that means a lot to you
It should feel like a gift to even get the opportunity to buy your product. Expensive brands limit what they have to offer.
Limit quantity to increase perceived value
Limit who you serve to create loyal fans
Limit when you sell an item...
We use products like iPhones to signal to other people "who we are".
Psychologists call this behaviour “self-signaling” and it’s an incredibly powerful marketing lever.
The iPhone is shiny, sleek, and perfectly proportioned.
Its minimalist design and product-focused marketing are a sensory experience created to drive desire for the iPhone.
It’s down to a psychological principle called the Simplicity Theory.
The combination of innovation, style, and desire makes the iPhone a status symbol.
Trying to attain status is a powerful driver of human behavior.
Apple knows that the psychological and economic principle of Scarcity is a powerful driver of desire, so they stoke the flames of doubt in their biggest fans.
Price is one of the indicators that something might...
- Speak about your target audience friends, family or loved ones.
- Use scenarios that relate to the goals your customers wish to achieve with their loved ones
This creates a sense of relatability and understanding with your brand.
- Build your brand around a specific audience.
- Find a group of people that would benefit most from what you offer.
- Show the life they want to live & the people they want to associate with.
This appeals to humans psychological need to belong.
- Have a guarantee/money back policy in place.
- Customers need to feel they can trust you.
Customers want to know their investment with you is safe. Alleviate any uncertainty.
- Give your customers a choice in what you have to offer.
- Always offer more than one solution
Only offering one option...
People buy products that they can see themselves using. Make your products look ready to use.
Many marketers will have you believe you need be everywhere, this leads to stress and burnout.
People desire achieving who they want to be, rather than who they are.
Reflect this life in your brand and marketing to draw customers to your brand.
Giving discounts to every customer creates a bad reputation.
You create your brand around being a "discount giver"...
This gives your customers power over your price, which they shouldn't have.
Only you get to decide your price.
When your price is always discounted it creates a habit with your customers to only buy from you when it's cheap...
Thus, never buying from you at full price.
When you do offer your product at full price, they go to another cheaper option. You end up stuck in an endless price war in a bid to win customers on price...
Rather than winning customers over on loyalty to you, your brand, and the experience you work hard to deliver.
Discounts are a double-edged sword.
Reserve them for the right occasions:
Want to start making...
When building your business it's important to state exactly what you want.
Most businesses are vague about exactly what results they bring their customers.
Ask yourself how you quantitatively impact the bottom line of your customers.
Then communicate it to customers to build your reputation around bringing results.
When creating a new product or service its easy to get stuck in planning stages.
Planning a million theories will not bring your brand success.
Put an idea to work and learn from the outcome
We live in a time of instant gratification, as a result, this has led us to expecting instant success.
Create a piece of content = brand will go viral
Launch a product = sales are going to roll in on the first try
This leads to...
When your customers see higher price points subconsciously they feel it must be of greater value. That price commands a very specific experience, one that your customers deserves to receive... after all, they paid for it. Equally, when you know you provide an exceptional product/service, the price MUST reflect the value to prevent undervaluing your service.
Luxury brands invest a lot of money to make their brand different. The slightest similarity to a cheaper option will cause customers to choose the cheapest option. Cheap is not an option for luxury brands, it would harm your positioning and cause customers to go elsewhere.
This why luxury brands focus on extreme differentiation through the customers they serve, their brand identity, and the overall experience delivered.
Big brands won't tell you this:
The real reason as to how they become so successful.
Every day brands flood our social media feeds!
They're all shouting in a desperate attempt to win a space in our minds.
The more brands shout, the less we pay attention.
This is why, while all other brands are shouting.
Smart brands whisper and let their actions do the talking!
Want to influence your customers subconsciously? Click here to join our private community of 300+ creators (only winners allowed inside).
Robert & Alek
No one is ever going to buy from your content alone...
After seeing posts like: Content ideas for a year, 5 marketing hacks, brand colours to inspire - "I'm going to buy now", said no one...ever!
Your content's sole purpose is to attract.
It is to nurture, inspire, and to showcase the type of person you are.
Your personality attracts more people to your community.
Your community increase the reach of your content.
And breaks down the barrier of uncertainty when your ideal client finally show up.
Your content nurtures the need for you but it doesn't sell.
Want to learn how to attract and convert your ideal client? Click here to join our private community of 300+ creators (only winners allowed inside).
Robert & Alek
Alek and Robbie have each spent a decade attracting, converting, and reaching out to clients.
The goal of this guide is to help you with getting your first or next premium client as quickly as possible - meaning, today!
Let’s get you a high-paying client and make you five figures.