I must admit, I am obsessed with Luxury, Luxury brands and what makes them so in demand and the reason why people pay premium prices to have access to them.
Having worked in the Luxury markets for quite a while, I’ve always (secretly) wanted to run my Coaching business in the same way, offering luxurious services and unparalleled value to my dream clients.
But I’ve been my worst nightmare and own saboteur since the beginning , afraid that if I priced my services too high, no one would buy, if I present myself as me, others would be intimidated…It has been the biggest disservice to myself and so many more.
Ironically, in my first business (Image Consulting), I’ve managed to secure big clients (BBC, London College of Fashion), partner with Harvey Nichols and the likes of Armani but somehow, when it came to my second venture, I froze.
I dived back in and went back to my love and followed my heart. I’m all about doing it Coco Chanel and Loui’s way and creating an epic brand with crazy sexy value and I know you’re gonna like it!
Say goodbye to Premium and hello to Luxury!
It is quite a bold statement and that’s what you’re here for. Being bold and thinking big. When you think premium, you use a comparative approach, Luxury is about creating high brand value and having a pricing power that knock you peers down ;)
Luxury is not just ridiculously polished, qualitative expensive products, it’s a strategy that even Apple use to dominate its market so put your big girl pants on and let’s get in the game.
As with every strategies, there are rules to observe and live by. Vincent Bastien calls them the anti-laws of marketing. I’ve retained only those that you can apply to your service based business asmost Luxury brands are product based.
- We don’t do positioning babe, in Luxury we DO NOT compare.
- Ask yourself: do my products or services have enough flaws to give it Soul? Yeah, we embrace our flaws.
- Kick the non enthusiasts out of the club: only positive vibes allowed!
- Make the access to your services exclusive (this will help you flush out your non ideal clients). You’re not for everybody, but you know that already right?
- Keep your prospects separate from your actual clients, not everybody will have the same access to you.
- We don’t use advertising to sell! No no!!
- The perceived price/value of your services should always seem higher than the actual price! Perception is Queen!
- Raise your prices as time goes on to increase demand. Clever hun?
- DO NOT SELL! (My favourite)
- We don’t look for approval! No, thank you!
- It’s a status quo free zone!
Let’s now look at the first law which I think is imperative to your success:
1/ We don’t do positioning babe, in Luxury we DO NOT compare.
We play on our uniqueness and the qualities that differentiate us from others. Positioning is very much an approach used in consumer marketing and very much focused on USP (Unique Selling Point…)
With the Luxe approach, we don’t position or compare ourselves to others. You have to be bold and gutsy enough to proudly stand tall letting your Higher Badass Self shine super bright! Just like Coco, we create identities, not positions!
Your brand Identity is pretty much like your individuality, its unique, timeless and undivided. Many are gone and will be remembered for centuries to come; think Cleopatra, MJ… (I know, there’s absolutely no link between , Cleo and MJ but they were the first that came to mind).
The second law I would like to dig a bit deeper in is:
2/ Status Quo Free Zone.
The reason being is that with the status quo, you hardly aim higher. You’re just gonna try and do a bit better. Yeah big, bold goals are scary but if you play safe, you’ll just end up playing competition and comparison games with everybody else. But if you 10x and shoot for the moon, you're committing to ditching the rules and your excuses, shifting your perspective and squeezing all your creative juice to make shit happen!
However, aiming to 10x doesn't mean that you're going to attain the 10x but even if you just reach 2x, you would have made more progress than aiming too low and reaching only 5% of your target.
This is just an appetiser to a live training I'm working on where I will teach you The Luxe Strategy more in depth so you can set yourself and your business apart, attract high paying clients who will value and invest in your business! You can sign up for the live training here.
Make sure you subscribe to my list and join The Entrepreneur de Luxe private Facebook group!
See you there!
To your success!