There’s a distinct difference when marketing and selling premium goods vs. mass market goods, coming from the corporate world of luxury goods this has always been top of mind.
Now as a coach and agency owner, most of my clients would identify themselves as a premium or luxury brand.
BUT what does that actually mean in the online service industry?
It’s easy to distinguish a luxury good from a mass market good. You can probably identify the difference between a luxury beauty product and a mass market one very quickly, the same for food products and home goods.
It can be identified through a brand’s persona; luxury brands are distinct when it comes to customer experience and brand communication through advertising.
Luxury brands build heritage through messaging on their website and build it into the overall brand story that’s communicated to their audience.
Commodity goods are in it for volume and price. In this arena there are many and most consumers are looking for the lowest cost in terms of price. Most providers will provide the same purpose and no difference between them in terms of offering, differentiation, etc.
When it comes to the online service industry it isn’t as easy to position yourself as a luxury brand as it is for product-based businesses. But, it is super important. Here are a few ways to differentiate yourself from lower-end brands:
Never underestimate the power of words. Explaining what your brand represents in terms of quality, service, values you stand for, etc is essential to positioning yourself as a luxury service provider.
White glove service is a MUST. Don’t forget the importance of the little things like thank you notes, welcome gifts and branded resources.
It doesn’t have to be an intricate logo or a fully customized website but it should scream YOU. If you have a vision for your brand but you are stuck on execution, outsource and get some help. Having an aesthetic that symbolizes luxury and premium service is essential.
More than your service, more than your branding, your story is everything! Sit down and think about what makes your brand unique and what you WHY is.
I work with a copywriter that works for Nike and has worked for Google. I have an incredible Head of PR and Communications who has worked with major national brands. The team continues to grow and I am always brainstorming the next hire to bring my business to the next level. Having a team to support your goals makes all the difference.
Discounting dilutes your brand. People will always ask for deals or want a lower rate, that’s just how it goes, it’s up to you to know your worth. You set your prices for a reason, be confident in that and stick with it. You won’t be in everyone’s budget and that’s okay. With the right messaging, branding and overall positioning, you will be attracting your ideal client.
Need help with your positioning? Let’s connect and talk about how to get you where you want to be. Sign up for a Discovery Call here.