Wanna know a secret?
Luxury, Mid, and Budget tier brands all have the exact same business elements.
You read that right!
The only difference is the way they appear on your feed and how brands manipulate their marketing.
So buckle up! Here’s the tea on how it’s done.
When you remove or limit access to something you automatically make it more exclusive. Think about how everyone goes nuts over the latest Apple product. People stand in line for hours to be the “first” because there is a certain prestige that comes with having the latest technology. The same principle applies when brands will roll out limited-edition shoes, purses, even makeup! Once it sells out it’s gone for good so make sure you get yours while you still can!
Appearance is everything! Your brand’s voice plays a huge part in this. A mid-tier brand like Gap is more light-hearted and relaxed with its messaging and marketing. Whereas a luxury brand like Hermes is a bit more formal. I can’t even remember the last time I saw a Hermes commercial. But I’ve seen their ads in high fashion magazines.
Consistency is key! Your brand aesthetics, messaging, and customer experience should all match.
You’re familiar with the quote, “know your worth then add tax,”? Try thinking like that when pricing your product. But be realistic.
People stand in line for hours to buy Louis Vuitton and Supreme for the in-store experience. These brands treat their customers exceptionally well! You need to think through what your brand experience is for your customers.
Luxury isn’t just the way something looks, there is a very complex strategy to it! I hope that these tips help you better market your brand!
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