The promotion of most product groups looks similar – in general, the main activities are running social media profiles, cooperation with celebrities, numerous discounts or loyalty programs. Luxury goods are a completely different category of goods. Some of the popular strategies in their case may turn out to be insufficient and even lead to counter-productive effects. If we want our luxury brand to be successful, we must develop new methods of operation and abandon the existing schemes. But how to do it?
Although there is a lot of talk about how little we earn, in fact, according to numerous statistics, the number of people with very high incomes is still growing. This means that the target group of luxury products is growing in strength. Wealthy consumers eagerly devote their money to things whose main purpose is to make them stand out from the crowd and give pleasure. As a result, the sale of premium goods is constantly growing. This is both good and bad news: on the one hand, it means that there is a great demand for this type of shopping, and on the other – it is a sign of growing competition on the market. However, there are ways that help convince potential customers that our products are exactly what they want. How to do it?
Don’t be governed by marketing research
Many brands launch new products based on the results of marketing research. Their results indicate what consumers need and help to create an offer ideally suited to this demand. Premium products, however, are not everyday items that we buy because we need them. On the contrary: what makes us find some good luxury is, among other things, its … superfluity. We do this type of shopping only to please ourselves and highlight our high material status. Some say that premium brands do not respond to the needs of consumers as much as they create them. It is hard to disagree. Instead of thinking about how to improve the daily functioning of your recipients, it is better to create a product that will become an object of desire. Only then such good could be described as luxurious. Premium brands do not strive for their customers. The clients must make an effort to use their products.
Do not compete with the use of price decrease
In the case of ordinary brands, low prices significantly increase sales. Inherent elements of their marketing strategies are, therefore, promotions, discounts, sales, etc. Meanwhile, premium goods are sold despite very high prices (or maybe thanks to them?). Only high prices make customers believe that the good is really luxurious. The goal of having premium brand products is to emphasize the high status of the user and distinguish him from the crowd. In other words: if everyone could afford a good, it could not be called luxurious.
Psychologists formulated a principle called the rule of unavailability. It says that if something is difficult to access, it becomes more desirable. The reasons for this rule are quite prosaic. First, the loss of choice in a natural way results in psychological resistance. In other words: we rebel against the fact that we can not have something. Secondly, if something is not easily available, we believe that it has an above-average quality. This principle can be used, for example, by launching a limited series of products. Usually, such offers are more expensive than usual, but the thought that the product may cease to be available in a moment, causes customers to spend their money more willingly on it.
People who use luxury brand offers depend on the originality and uniqueness. They want to be sure that they stand out from the crowd and will not constantly pass people on the street with identical watches, handbags or telephones. That is why mass production and universal availability contradict the idea of a luxury brand. It is better to sell less products at a higher price than more for smaller amounts. The best premium companies even enable people to order products that have not yet been released to the market. The prestige of the brand is also influenced by factors such as the long waiting time for a product, the possibility of its purchase only in certain places in the world, as well as a certain (small) number of products manufactured during the year. In a word: actions that in the case of ordinary brands would be very large defects, while in case of luxury goods can become assets.
Of course, if it was enough to push the price up to an exorbitant height to become a luxury brand, each company would get it called. However, with high cost must be associated exceptional quality. Good premium products are those that stand at the highest level, while at the same time distinguishing themselves from the competition. First of all, you need to take care of the highest quality materials. They must be difficult to obtain, expensive (you certainly can not save on production costs) and other than those used by competing companies. Similar standards apply to the methods of manufacturing luxury goods, which should be as precise and time-consuming as possible. In the case of premium products, often the handicraft is added, which additionally adds to their uniqueness – in this way we will not get two identical items. Some companies employ even a few people who make unique decorations, thanks to which each product has its own unique features. Let’s also remember that premium brands can not afford slips related to working conditions. As these companies earn huge amounts of money, there is a particular pressure on them to treat their employees well. The news that the staff is badly paid, does overtime or in poor conditions may seriously damage the reputation of our business.
Build an interesting story
According to popular belief, luxury brands do not appear on the market “out of the blue”. Most of them are family businesses, the value of which has increased thanks to the quality of services and companies created from a real, sincere passion. Premium companies are companies with colorful and long history. Often in the foreground is a glorified, surrounded by aura of uniqueness, the figure of the founder or owner. Remember that when buying a luxury product, in a sense, we aim at acquiringspecific valuesthat are usually associated with the image, philosophy and history of the brand. For us, Chanel is not just an empty name, but the name of a legendary designer, and Apple is inherently associated with its founder, Steve Jobs.
Forget about mass advertising methods
When promoting the premium brand, we should in a sense forget about everything that we know about advertising so far. In this case, we do not care to reach everyone with our message. On the contrary: we want our products to be bought by a specific group of recipients. It is worth using any tools that will help us present the advertisement to the target group only. For example, industry websites and business organizations will help us. If we decide to cooperate with the ambassador, let it be the biggest star that will raise our prestige, and not the average person, who will make our offer referred to in articles on gossip sites or on tabloid pages.
Take care of the details
When a customer decides to spend a substantial sum on a premium product, he has the full right to expect excellent quality. This rule does not only apply to the performance of the product itself, but also its packaging. The best luxury brands take care of every detail and attach great importance to this type of accessories. Precious jewelry is sold in beautiful caskets, and the most expensive alcohol – in tasteful boxes. The most expensive champagnes in history are famous for beautiful, engraved bottles decorated with the works of outstanding artists. When designing luxury goods packaging, it is necessary to consider over each, even the smallest element. You have to choose colors, decorations and fonts carefully. Materials must be of above-average quality, and design – attractive. The packaging is designed to increase curiosity about the content. Even opening it should be a pleasure – a foretaste of what the customer will feel when using the product. Many premium companies add value to their products, such as a certificate of quality, uniqueness or authenticity. Such a document additionally increases the attractiveness of the purchase in the eyes of the consumer.
Treat your clients exceptionally
The purchase of a luxury product is a unique experience. Each stage of this transaction should suggest to the consumer that he has crossed a certain symbolic boundary and has become part of the exclusive group of the company’s recipients. It should be ensured that customer service is always at the highest level. If we target stationary stores, we must ensure that after crossing their threshold, the client could feel special. An example of such an operation can be serving champagne in luxury boutiques and wedding dress stores. Such a seemingly simple gesture sends a signal that the mere presence in this place, let alone the purchase of a product, is a real celebration. It is a kind of ritual of transition to an elite group of luxury brand customers.
Place importance on originality
In fact, promotion of a premium brand can not take place by following any set of predetermined rules. Luxury products are those that stand out in the market. There is no one way to achieve this. To arouse the desire of recipients, you must create your own unique identity. Each of the most well-known and also the most exclusive companies is completely different and therefore unique. It is the features that make us original that also result in the fact that consumers want our products, not any other from the same category. So if we want to create our own, unique premium brand, we must have a good idea for it and consistently implement it.