Establish Your Start-Up As A Luxury Brand
So, you’ve managed to secure all the necessary funding, executed enough marketing to get your business off the ground, and now you’re the proud owner of a profitable business. While some business owners may feel like They’ve arrived at this point, you may want a little more out of it. Though you may not be making unique products from the rarest materials, you can still give your customers a potent taste of luxury. Here’s some advice for achieving this.
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The first thing you need to understand is that high-end customers aren’t just looking for quality. Surveys have shown that “high-quality construction” is one of the most important factors for people who want a taste of luxury. However, many “luxury” brands are now coming from the same sources as mid and low-range products. As luxury brands’ quality of construction has declined, that of mid and low-end brands has improved dramatically. As this has happened, exclusivity has become more important to high-end customers than the actual construction of the products. They love the fact that luxury labels give their customers exclusive previews of upcoming merchandise, and the freedom to buy limited editions of products. Even as we see more and more high-quality “knock-offs” hit the shelves, customers are going for products which they know few other people own.
Another big factor to giving your customers a luxury experience is the service you offer. No matter how small and unknown your company is, if you can offer your customers a unique, loyalty-building experience without upping your costs, you’ll be well on your way to being considered a luxury brand. For example, if you wanted to create a more potent air of exclusivity, you could create a customer loyalty club with a higher-than-usual bar for entry. Of course, you’d have to combine this with more exclusive benefits for people in this inner circle. This may include extended shopping hours in your premises, special coupons and so on. Whatever it is you’re selling, there’ll be some way to make your service a little more exclusive.
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As with anything in business, giving your brand a greater sense of luxury can be helped a lot by technology. You could develop an app which delivers special news and offers right to your customer’s phones, or create a section of your website which is only accessible to loyalty club members. The structure and content of the website itself can also be utilised to make your brand seem that much more luxurious. Commission a luxury product film which gives people a closer look at your manufacturing process, along with some professional photography and modern web design conventions. Having a live chat available most of the time is a small tweak to your site, but can also give your customers the impression that they’re being waited on hand and foot. Furthermore, it will give you some more insight into your customers’ likes and dislikes, so that you can tailor your business accordingly.
Take this advice, and your reputation will flourish among high-end customers!