How to Market to High-End ClientsApr 16, 2021
Whether you are brand new to business or hoping to expand your existing offerings to focus on the high-end luxury market, you may well be questioning how to market to this demographic.
A common trait amongst people that I work with is that they are great at what they do, and I know you are too, but they are not necessarily the best marketing expert for their service. This is where desire-led marketing comes in.
Let me take a moment here to tell you why set up houses set up topology and why this is so important to me, Laura Payne-Stanley, as lead Seductologist.
For 19 years I've had the privilege of working with many excellent and talented, coaches, experts trainers and consultants.
I liken them to a Michelin star chef in the countryside. They are some of the best service providers of what they do in all the land. However, if no one knows about them, and no one knows about their services, people are not going to come through the door. On the contrary, the Happy Cheese Pub which is just down the road knows how to market very well. It may not be the best food or service around, but it is fully booked.
This is why I do what I do. I want to help you here at House of Seductology go from being the best-kept secret in your industry to the industry expert, with people desiring to work with you.
Let's get back to the question at hand; how do we attract high-end consumers:
1. Know your Ideal Customer
There are so many opportunities at House of Seductology when we work with entrepreneurs and organizations, to look at how to increase their reach to their ideal customer.
It does, however, always start back with the ideal customer. If you do not know the ideal client thoroughly, and we are talking about knowing in detail exactly who you are marketing to, then this is where the wheels come off the bus and often the marketing does not work.
You need to develop a client persona that is as detailed as possible, including things such as demographics. You also need to get into the mind of your ideal customer. If you are targeting the high-end luxury market, then you need to think like them.
A challenge may come when this is not your background, or this is not your current status. So you need to do as much detailed research as possible. To understand how they want to be marketed to. In essence, we're looking to create an accurate roadmap for your ideal customer.
2. Go Where the Fish Are
As a marketing veteran with 19 years of experience, we used to call this creating your marketing strategy with things such as SWOT analysis. In essence, I love this phrase because it is so simple.
What this actually means is you need to develop a marketing strategy that deals with where your high-end customers are, not where you would like them to be.
When we come to marketing high-end goods and services, we need to be focusing on the benefits of the product or service, not the feature. The feature in services such as coaching would be how many sessions a client gets with you, how much extra time they get and what resources they have.
The benefit is the results of the journey and the destination they have once they have worked with you.
Ask yourself why your high-end consumer does buy your product or service. How does it contribute to their lifestyle? Will it enhance their self-image at all? Will it enhance their standing amongst their peers? These are all potential triggers that will result in a purchase.
3. Establish Expert Status
To begin with, this starts with going internal in terms of mindset work. If you do not think of yourself as an expert in your industry, then your customers and your clients are far less likely to as well. This is true in many industries but especially so in the luxury market, as the services and the price points are much higher. And people buy from others that they know, like and trust. Trust is part of being an authority.
Create a formalized plan for establishing your expert status. This may include PR, influencer marketing, speaking and expert commentary. Always go back to your client profile to determine what, if any, social networks they are on, and what platforms to target your expert status strategy towards.
4. Strategic Pricing
You have to have completed step one to understand the pricing that your ideal clients in the high-end market are presuming to pay for what you do.
If you have grown your offering organically and even raised your prices through increments, you need to shed away the lower-end price points. These equate to low-quality, which is not ideal for this high target market. Again this comes back to having confidence in your brand and understanding that being perceived as 'cheap' or 'low-quality' is detrimental in a high-end market.
Now is a great time to ask; do you believe in your pricing?
After all, if you think you are too expensive, so will your ideal clients.
Luxury service marketing is much more than just packaging. It is understanding your high-end clientele and emphasizing the story, the benefits and the lifestyle impact that purchasing from you will have for them.
This is the essence of desire-led marketing, attracting your ideal clients to you, rather than forcefully through advertising pushing services at them.
PS 😘 Would you like to find out more about desire-led marketing? Sign up for our free packed full desire-led masterclass of how to implement this in your business asap.