The luxury market is a league of its own. Mainstream and premium mindsets just won't cut it. Here's what you need to know to build your luxury legacy.
The Two Core Concepts You Need to Understand When Building A Luxury Brand
You have your goals set on entering the luxury realm. But do you really know how to reach that level?
I don’t want to intimidate you or anything, but the luxury business model is very different from what you’re used to.
So, let me provide a bit of context to help you understand what I’m getting at.
Right now, you’re probably operating in the premium space. But you’re also focusing on the nuts and bolts that make the luxury model work.
I’m sure you went over your competition thoroughly to figure out your next step.
But I want you to know a secret…
There’s no competition in the luxury space.
Assessing what others are doing won’t allow you to create exclusive products and services. Therefore, it’ll fail to attract the very top of the market.
You’ll still be stuck in premium.
But you aren’t to blame. It’s tricky to unlearn the mindset that kept you going up until now.
That’s why I want to help you enter the luxury mindset that will be the cornerstone of building the brand you want.
Of course, there are many pieces of the luxury puzzle, and I’ll be exploring two core pieces in this write-up.
You Are the Pied Piper
One of the first things I frequently have to teach my clients when they move into creating their legacy personal brand and utilizing a luxury model is the idea of becoming the Pied Piper.
This goes double for clients who have been in a consultancy or coaching type of business model.
The Pied Piper is a mythical analogy to describe being the leader of the pack and having no view for anybody else in your niche.
The concept that’s most important here is the idea of leading, not teaching. That is, you shouldn’t worry about turning back and teaching anyone behind you.
What you need to worry about is creating the philosophy, the legend, and the myth.
I want you to create an iconic status.
Also, I want you to make constant innovation part of your core philosophy.
If you’re to successfully reach the luxury level, you also need to add more artistry and creativity to what you’re doing.
Because when you do that, people will follow.
Now, the following you get represents the absolute difference between a mainstream model, a premium model, and a luxury one.
In the luxury model, people follow you. And this is something that doesn’t happen in any other model.
Also, you need to understand that your team can do all the teaching.
Knowing that is particularly important if you are a consultant or coach. In that case, you’re naturally a teacher or a mentor. You spend a lot of your time helping people reframe things and learn concepts.
But I want you to shake off that mindset and focus on your creativity and innovation.
At the highest end of the market, you will only work with a select few. These people have the same problem and you’re there to address it without teaching.
But it’s not only that.
With that small subset of people, you can explain your concept and talk about your core philosophical beliefs.
This is like brainstorming with peers while trying to expand their vision and yours. It isn’t about teaching the model and what you know.
That said, your teachings and knowledge can go into your scriptures. Then, your team can take those and teach and evangelize the concepts to a broader audience.
So, it’s critical to focus on leading by being the Pied Piper. It’s about inspiring and motivating people, not showing them the ropes.
I know this could be uncomfortable for you in the beginning.
But I promise you that once you get into that innovation, the sort of space where you really hold on as an icon, your brand will absolutely flourish at the luxury level.
You Need to Get Deeply Emotional
If you look at any of the booming luxury brands and how they do marketing and messaging, you’ll notice that these brands have something in common…
Their messaging is profoundly emotional and primal.
What I mean by that is you’ll rarely see a luxury brand ad that features a price. This applies to print and online ads.
Also, you won’t even see a lot of features advertised because those belong to the premium end of the market.
At the luxury end, you’re connecting with an expanded vision of what your clients can be.
If you inspect the advertising of really high-end fashion or luxury vehicle brands, they never talk about price, competition, or being the best.
Instead, it’s about connecting with some sort of primal emotion and driver. It’s about tapping into some kind of deeply held desire and expanding the vision of who the clients can be.
A lot of my clients who serve at this level constantly think about how to innovate, create, and take their core philosophy to the next level. And their customers buy into that expanded vision of who my clients are and what their branding is all about.
But of course, this works both ways.
While the idea is for your luxury brand to expand the vision of what the clients can be, it’s also to expand on what your product can do for the clients.
Your goal is to focus on connecting a potential client with the emotion that drives their deepest desires.
So, you want to build beautiful imagery into your messaging. You want to show what people can be and what the feeling will be like for them when they have your product in their hands.
You need to go into the hearts of your clients and paint them a picture of the feelings and life that you can bring to them. Also, you want to show them how their deepest desires are going to manifest through your branding.
But when you’re building your messaging, you don’t want to just release something emotional on social media and be done with it…
You need to be thinking quality over quantity.
Think carefully if what you’re going to share is really dear to your core philosophies. And make sure that it builds the deep emotion that connects to the emotional well of your ideal customers.
Through your messaging, you need to help them see their deepest desires manifest at an expanded level. Connect into that in such a way that it makes them feel euphoric.
Strike the Chord with Your Clients
Breaking away from the premium model that’s worked for you can be challenging because of your mindset. But the core concepts expressed in this article will help you do so.
The first step is to switch from being a teacher or mentor to being a leader. And that goes even if you’re not coming from the consulting or coaching space.
Next, you must find a way to shape your messaging so that it accesses the innermost desires of your clients. Not only that, but the messaging also needs to give them a vision of the life that you can provide for them.
The critical thing is that you achieve all that by continually innovating and expanding your own vision and belief systems. Combined with creativity, this is the strategy for building a luxury brand that could span generations.
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