First of all, what’s a luxury brand? This is a provider of luxury goods or products and services associated with high prices, high quality and unimaginable comfort. Owning a luxury brand is not really the same as catering for the rich. When you want to start up a clothing line like Chanel and Michael Kors or a Make Up collection like Mary Kay and Fenty, you need to keep in mind that you just want to provide exclusive products meant for people who love quality and are willing to pay any amount to acquire it.
As an entrepreneur, you need the loyalty of your customers if you wish to succeed in whatever niche of business you find yourself in. Target a particular set of people and provide what they like. Running a luxury brand has to do more with captivating the attention of prospects than just delivering any product or service you deem fit. In order to succeed, here are the top 6 secrets to starting up a luxury brand.
1. Decide on what Luxury Product or Service to Provide
There’s a wide range of sectors to start a luxury business in. From clothing, perfumery, footwears and jewellery to cars, hospitality, real estate, mobile devices, electronics, and so many more. Make a decision on what sector you wish to build your brand in. If you you’re passionate about a particular kind of shoe, you can carry out some research on how to purchase them in large quantities or even how to make yours – if you intend to become a luxury designer yourself.
2. Let there be Something Unique about your Brand
Since you’re providing goods and services to a particular set of customers, you will have to give them a reason to believe that making use what you offer will make them stand out from the “average person”. In order to succeed in the luxury business, you need to make sure everything you stand for emits appeal, quality and creativity. You can further include a story on what makes the brand different. Whatever you are selling is probably in the market already, but what makes yours desirable and worth investing in is what your potential customers want to know. Appear more credible by talking about a particular feature that can’t be found anywhere else, except with your brand.
3. Personalise what you are Offering
Many people patronise a luxury brand due to the experience the get from using the product or service. Personalising a product makes your customers feel like you are providing it specifically for them. For example, if you sell football jerseys and a customer wants to buy a Manchester United jersey, they can easily place an order and receive a typical “Pogba” or “Rashford” shirt. But what makes them come to you is if they can get a “my name” authentic jersey. They will be willing to pay almost any price to have whatever name they want printed on that particular item. Therefore, adding that feel of intimacy appeals to their interest and taste better.
4. Locate your Business in a High-end Area
In a every city, there are high-end streets and areas where you find almost all the top brands. It always feels like they decided altogether to locate their offices in one place. You might as well join them in that decision. For example, customers looking for an evening gown but can’t find it in the Chanel store, are likely to check the next store beside it. If your luxury boutique is sited within the same vicinity, it’s expected to provide similar quality at the same price – more or less. Notwithstanding, your business can be situated in any other area and still make sales, but you have a better chance of hitting your target customers if you can be found where they “expect” you should be.
5. Flow with the Trend
These days, almost every business sector has evolved into a much more appealing and larger industry. From fashion to real estate and hospitality, they all now provide services that capture what’s trending culturally and in the market. However, building a luxury brand involves incorporating the style of the region it’s located and of the people it’s meant for. For instance, if you run a luxury hotel, you can fuse in a technology that allows lodgers access their rooms without a key. Maybe with a card or even finger print – just saying. It makes your service different from what they get elsewhere, yet following the latest technological advancements.
6. Create an Engaging Online Experience
When advertising your brand, it’s important to take digital marketing into consideration. As prospective clients come across what you offer, they should feel the need to click on your URL or even Google more information. Therefore, it’s only wise that you create content that not only boost Search Engine Optimisation (SEO) but also talks about the benefits of using your product or service. Further work on your website, make it accessible and aesthetically pleasing to the eyes. Combine simplicity and elegance to reach out to customers. Your social media accounts should also resonate luxury, happiness and comfort. Make sure you are as interactive as possible – but maintain professionalism.
In a quest to keep customers engaged, you can as well create an amazing mobile user experience. It’s important for your brand to be easily accessible on desktop and mobile devices. Since more than half of the world’s population own a smart phone, it’s only wise you make it easy for anyone to find out any information about your brand or get updates when you are bringing in something new. You can have an app or mobile site designed and upgraded often. You can even add an aura of exclusivity by making it a premium app or offer some sort of benefits for those who pay for a particular update or app feature.
Finally, one secret for building a luxury brand and being successful at it is maintaining the “wow” effect. Think about what would amaze the user. Are you using the perfect colors and technology to make the experience better? Can they use your product in place of 10 others from different brands and still get the same level of satisfaction? When you can answer these and key into the secrets, you are on the right track.