You’re facing a lot of internal doubts. But whatever these inner demons are telling you, don’t believe them. It’s okay to set big, audacious goals.
What’s the key secret to developing a luxury brand? How did icons such as Coco Chanel and Gianni Versace cultivate their mystique?
Well, I’ll tell you what they did NOT do.
They didn’t offer their wares to everybody in the market. And they weren’t shy about sharing their beliefs and values.
In fact, they turned “business strategy” on its head!
They were bold, brave, and audacious.
They shrunk their market size.
They skyrocketed their prices.
They turned people away.
And yet, all these years later, they’re icons.
In the remainder of this article, I’m going to reveal 4 techniques you can use to market your luxury brand. So that you, too, can shape yourself as an icon over time.
Technique #1 - Hypertargeting
Intentional marketing, or hypertargeting, is a concept I’ve been using for quite some time. And it’s incredibly simple.
It’s so simple you might think, “Why haven’t I been doing this all along?”
The idea is that you pick and choose the clients that you’d like to work with. It also applies to strategic alliances – you pick and choose your partnerships, too.
Why? Because when you’re hypertargeting a partner, you’re seeking to create a relationship that can turn into multitudes of ideal clients.
In any case, whether it’s partnerships or clients, your next is to conduct deep forensic research.
What are the things that motivate these people? What are their deepest desires? Where are they hanging out?
Now, you need to base all your marketing efforts on that! By doing so, it allows you to connect with your audience and properly market your services.
This brings to mind Eric Lochtefeld and Patrick Combs of Bliss Champions. They are clients of mine and the super successful leaders of an exclusive consulting business. Their area of speciality is coaching high-performance CEOs.
To create an initial dialogue, Eric and Patrick send handwritten cards to a select group of potential clients, inviting them to be a part of the Bliss Champions retreat.
This retreat has to be seen to believed, as it includes:
- Travel by private jet to Hawaii
- Luxury oceanfront lodging
- World-class gourmet chef on hand
- Massages
- One on one consulting
- And more!
Do you think Eric and Patrick offered this to just anybody? Of course not!
Technique #2 - Affiliations and Partnerships
One of my favourite ways to grow a luxury brand is through affiliations and partnerships.
Andrea Albright of Global Publishing Powerhouse, again a client of mine, is a great example. We have leveraged partnerships and networking for her to be selling consistently at the $100k+ level.
Andrea couldn’t do that if she wasn’t super clear on her ideal client. Once she got clear on that 1 in 1000 person she wanted to work with, it was relatively easy to start thinking about who can connect her.
Once you find those people or organisations, it’s like striking gold! These affiliations can bring millions in revenue.
I need to stress something important though. The secret to fruitful – and highly profitable affiliations – is the support of one another. Please don’t think that you just reach out to a potential partner and you can access their network.
No.
The best affiliations have an interdependent relationship that’s mutually beneficial.
Technique #3 - Networking
Let’s continue with Andrea’s story.
To launch Global Publishing Powerhouse, Andrea was going to run webinars and charge $2K to $5K for her services.
Then, she met me…
I suggested we use networking to find her ideal client. And I also suggested we raise her prices through the roof! Result: nobody complained. Quite the contrary, she found herself in a position to attract the top thought leaders in her market – the people who didn’t really care about cost.
By raising her prices and serving those at the upper echelon, Andrea became fulfilled at a much deeper level. It expanded her both personally and professionally. Plus, she was able to roll out the red carpet to her clients.
What’s the secret to successful networking?
As always, it starts with your ideal clients or partners. Then deliberately and intentionally learn about your target audience… and let them get to know you.
So when an opportunity arises, or when someone needs an exclusive service, you’ll be the first to know!
Technique #4 - Limited Releases
As a personal luxury brand, you’ll be launching new ideas and opportunities. And as you know, you shouldn’t launch to the broader marketplace. Nor should you make yourself or your services accessible.
Which is why I suggest deploying a limited campaign strategy. That means capping the number of people you’re selling to.
I recommend the following:
When you’re launching something, and it’s a limited edition, market it in the most personal way.
For example…
Earlier, I told you about Eric Lochtefeld and Patrick Combs and their handwritten cards. One by one they wrote out these cards in their own handwriting. The CEOs they sent these cards to were handpicked.
That level of personalization and exclusivity is hard to match! It makes people feel special, which is one of the secrets to selling $100k plus offers.
Research, Aim, Market
What are the secret ingredients of marketing your personal luxury brand?
The journey starts with you as the legend and the icon behind the brand. This ties into the message that you’re relaying to your target audience.
But it’s not just any messaging.
You’re selling ideas and dreams, rather than products or services. You have to distill and personalize your approach so that it strikes a chord with the people who are listening.
Remember, these aren’t average Joes that you can reach with a simple email blast or Facebook ad. They’re an exclusive bunch that expect only the most premium of the premium.
So get out there and mingle. Forge friendships, partnerships, and alliances.
In effect, you become part of their community and the go-to person for what you’re selling. And they might not even ask about the price!
Don’t think this is possible?
Watch our latest Masterclass and let me show you otherwise
