Marketing to high end consumers means ensuring that quality shines through at every step of the sales process including product placement and even celebrity endorsements.
There are certain principles which should run through all of your marketing efforts but when marketing to high end consumers there are certain factors that should be paramount to your marketing campaign and advertising efforts.
You need to ensure that you are targeting the right audience and that the product you are selling offers the appropriate level of quality. You should also look for personal recommendations or, where possible endorsements from industry leaders. Give your products a sense of scarcity, create a classy persona, and ensure that your marketing is placed appropriately with the product at the right price.
Reach The Right Audience
Ensure that you’re reaching the right audience. Some high ticket prices may not be sold directly to the consumer and may be sold to organisers or resellers. Make sure you know everything about your market before you start the advertising process as this will enable you to be able to market your goods and products to the most appropriate people and to the right groups.
Let Quality Shine
The quality of your products should speak for itself to some extent but it is the job of your branding to ensure that potential buyers see the quality shone through. Packaging should be classy and high end while everything from your marketing copy right through to the methods that you use to sell the items should be equally high class too. Low quality packaging can lead to poor sales if it does not convey the kind of quality that you sell.
Get Recommendations Or, Better Still, Endorsements
Recommendations and word of mouth will help sell your products and can give you the best possible conversion rates and profits. This is usually achieved through great quality products and top class service. Certain brands find that they have to do little in the way of marketing when they release a new product.
Apple are an ideal example – they have a comparatively small marketing and advertising budget because their high end goods are placed in TV shows, films, and in other forms of popular culture because of their iconic status.
Scarcity And Perceived Scarcity
If you sell too many products to too many people then your product is unlikely to be deemed especially high quality. While it may be your goal to sell as many items as possible, you should at least give the appearance of scarcity or paucity through your advertising message.
Products which contain gold, diamonds and other finite resources have natural paucity while the latest products that are on the cutting edge of technology give the appearance of technology driven scarcity. Limited editions and special editions can also be used to give the appearance of paucity to a product.
Ensure that your products are placed in such a way that it gives them greater appeal to high end consumers. Don’t allow shops or websites that might be considered low end to stock and sell your items and vet every potential reseller, if you use them, before allowing your product to be sold through these companies or groups.
Try to make sure that any coverage of your products will be viewed in a positive light by your high end target market.
The Price Is Right
Pricing is a critical point when selling to high end customers. Price a product too low and it will lose the perception of being luxury and potential buyers will believe it to be too readily available. With that said, buyers will still have an upper limit that they will be unwilling to surpass when buying particular items.
Your challenge is to find the ideal price point that gives the perception of quality and scarcity while offering decent profit levels and retaining its appeal to high end consumers.
High End Marketing
Regardless of price point and appeal, there are many factors to consider when selling to a high end market. Ensure that every element of your marketing, advertising, and branding exudes class and scarcity.
Try to offer recommendations and remember that celebrity endorsements will go a very long way to helping you sell even the highest priced items because people will be willing to pay a little more to wear the same jewellery or the same dress as a star of the screen. Marketing to high end consumers can be worthwhile but you need to ensure that you do everything effectively and well.
Contact us today for assistance in marketing and branding your quality products to a high end market. We have experience and expertise in selling high ticket price items with high scarcity value.