You are an icon in your field. You have no competition. Discover the power of exclusivity and how to start reveling in your own uniqueness and creativity.
Building a Luxury Brand - Why You Need Exclusivity (And How You Face No Competition)
Right now, you may feel that you’re offering the same thing as everybody else. But how do you snap out of that and create something rare, outstanding, and luxurious?
Don’t look over your shoulder to assess what the competition is doing.
How can you innovate and offer luxury if you keep eavesdropping on the competition?
Your inspiration, power, and creativity aren’t with your competitors…
They’re within you.
So how do you tap into them?
The reality is that you need to stop, regroup, and start playing the game nobody is playing. That act removes you from the competition because there’s no one to compete with at that level.
Reaching the highest level possible requires you to create a feeling of exclusivity that permeates every aspect of your offering and brand.
By creating exclusivity, you’re setting a whole new paradigm within your niche. And there’s no competition for that – you’re the one and only person who sets the pace for others to follow.
And here are two critical pieces of the puzzle to help you pull it off.
White-Glove Service - The Power of Exclusivity
The critical elements of a luxury brand are rarity, exclusivity, and a high price point.
In other words, you have to provide exquisite white-glove service at a price that only a select few can afford.
Now, I understand that the above may feel logical and something you’re going to build into your brand anyway. But I want you to think really deeply about what exclusivity and white-glove service means to the people you’ll serve.
Also, you need to think carefully about what that means to you.
The idea is to find unique, exciting, and outstanding things to do for your audience. You want to make them feel surprised and mesmerized by your offering.
The goal is to make your audience the ambassadors. The evangelists for your message, brand, and everything you stand for.
You do that by offering something meaningful and rare. What you’re offering also needs to create this feeling of being gated from everybody else. That’s what fuels exclusivity.
Take the highest first-class offers in the airline industry as an example.
It comes with a chauffeur service, dining rooms, and concierge service. More importantly, all these services are private and those who fly the highest first-class also have a private exit and entry.
For this audience, privacy is highly prized and makes the feeling of exclusivity even stronger.
As mentioned, this is just one example that works well in the airline industry. But it will work with your brand in the same way it worked in other industries.
Let’s look at what Toyota did when they introduced Lexus.
Toyota wanted to position Lexus as a luxury brand upon entering the market. Trying to figure out the best approach, the automaker’s marketing team discovered something interesting…
The most prized, exclusive, and luxurious cars were parked in front of stadiums and hotel chains.
So, they decided to place Lexus among the Lamborghinis, Rolls Royces, and Maseratis.
In fact, Toyota started paying hotel chains, stadiums, and exclusive restaurants to park Lexus in front. Lexus owners didn’t even have a clue, but the strategy worked beautifully.
Anyone who passed by and saw Lexus among some of the most coveted vehicles would immediately associate the brand with luxury. In turn, Lexus owners also got the feeling of belonging to a very exclusive club.
And as the brand grew, more people wanted to join that exclusive club.
Sure, the trick is to be incredibly smart in your marketing. But there’s one more thing…
What’s important to the people you want to serve at the very highest level doesn’t need to be complicated.
Simply parking cars at the right places worked wonders for Lexus.
I’m certain you can achieve the same effect with your brand as long as you understand what makes your audience tick.
The Mindset Shift That Needs to Happen
To reiterate, you have no competition at the luxury end of the market.
That’s why I want you to stop looking behind and thinking about what other people are doing.
You don’t apply competitors’ strategies, business models, and marketing tactics when building your own luxury brand. But if you’re really stuck in this loop of competition, it screams to me that you’re probably sitting on the premium end of the market.
However, you want to be in the luxury space, right?
Now, I’d like to take a step back and explain the distinction between the two because it’s essential for understanding the necessary mindset shift.
When operating in the premium market, you really are the best in the world, whatever your niche may be. And that segment of the market is all about positioning yourself against the competition.
But within the luxury market, the strategy is very different.
And creating entirely new paradigms.
None of these ever happen in the premium market. Yes, there could be some paradigm shifts, but that’s worlds apart from setting a new paradigm.
And the moment you decide to enter the luxury realm, there’s no looking back.
You’re there alone, which is a good thing. Now, your goal is to become the beacon of transformation that’s not for everybody, yet many would like to be a part of it.
But if you keep thinking about the things you can learn from competitors, you won’t be able to tap into your creativity and innovate. That mindset of looking over your shoulder is limiting your potential to grow beyond the mainstream.
And if you’re struggling to break free of the mindset, by all means, reach out and let’s try to knock that out of you. For now, you can examine existing luxury business models and what others who are at the luxury end of their niche are doing.
Don’t confuse the tip above with assessing and following your competition.
What I want you to do is look at the myth, the legend, and examine the marketing and business model.
I don’t want you to think that you should be doing the same things. Knock the idea out of your mind.
We used the example of luxury airline offers and Lexus for reference, not as something you should be copying with your luxury model.
The bottom line is that you’re checking out other luxury businesses to understand how and why you need to change your mindset.
Building your own luxury model is a different ballgame, even though the correct mindset plays a critical role.
Welcome to the Exclusive Level
In the luxury space, you set the pace, you create, and you innovate.
I want this idea to really sink in and become your mantra. And don’t hesitate to keep reminding your team about it.
The changes you’re introducing are going to feel a little uncomfortable. This goes double if you’ve operated in the mainstream model so far.
But if you have your heart and mind set to luxury, there’s enormous freedom to be had once you reach that level.
You can remove all the shackles and put them away for good. At that moment, you really get the freedom without any competition.
And this is all about you.
Schedule your $100K Offer Appraisal Call to talk it over once more.