9 Rare Steps To Create Your Luxury Brand

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...

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8 Hidden Secrets To Make Your Brand Feel More Expensive And Loved

1. Focus on a niche

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

2. Use Luxury positioning

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?

3. Attach Symbolic Value to Your Products

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

4. Use Exclusivity

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...

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How Appleā€™s Marketing Gets You to Pay $1000+ for an iPhone

1. Apple Marketing Strategies Appeal to Our Emotions

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. 

2. Apple Believes in Simplicity

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. 

3. Masters of Status

The combination of innovation, style, and desire makes the iPhone a status symbol.

Trying to attain status is a powerful driver of human behavior. 

4. We Want What We Can’t Have

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.

5. The Psychology of Price

 Price is one of the indicators that something might...

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5 Psychological Tricks To Win More Customers

1. Appeal to emotional attachments.

- 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.

2. Appeal to your customers fundamental need to belong.

- 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.

3. Appeal to your customers fundamental need for safety.

- 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.

4. Appeal to your customers fundamental need for control.

- Give your customers a choice in what you have to offer.

- Always offer more than one solution

 Only offering one option...

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5 Marketing Hacks That Will Help You More Than a $200k Marketing Degree

1. Visual Depiction Effect

People buy products that they can see themselves using. Make your products look ready to use.

 

2. Exclude people with your marketing, rather than attract.

  1. Zone in one message, one goal, one mission.
  2. Filter out people that are not a good fit.
  3. Only speak to your true ideal customers.

 

3. You don't have to be everywhere. Show up in one place and be exceptional.

Many marketers will have you believe you need be everywhere, this leads to stress and burnout.

  1. Focus on one platform
  2. Hone your craft and master the platform.
  3. You'll attract more than enough customers to make a 6+ figure business.

 

4. Rather than market to your ideal customers. Market to who they want to be.

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.

 

5. Successful brands create mental ownership inside their customer's mind

  1. First they use a trigger word, such as...
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The One Single Business Lesson I Wish I Learned Sooner

  • 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:

 New product launch (introductory price point)

 To reward existing loyal customers

 Bulk orders

 Long term retainers (ie signing a 6 month service)

 

 

Want to start making...

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5 Habits That Will Make Your Brand More Successful Than Jeff Bezos

1. Be direct with what you want

When building your business it's important to state exactly what you want.

This means:

  1. Asking customers to buy
  2. Asking what you could do better
  3. Asking why your customers didn't buy.

 

2. Focus on the results

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.

 

3. Take action more than planning.

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

 

4. Focus on the journey.

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...

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6 Lessons from Luxury Brands to Make Your Brand 95% More Profitable

 

1. Luxury brands command premium pricing.

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. 

 

2. Luxury brands focus on extreme levels of differentiation.

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. 

 

3. Luxury brands are passionate about their...

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The Secret That Big Brands Don't Tell You

Image Credits: Freepik

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
CEO Sphere

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Stop Selling With Your Content

Image credits: Freepik

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
CEO Sphere

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