Tuesday, August 22, 2017

Why Exclusivity Sells

If you’re having trouble promoting your products in a bad market, you have to start to figure out ways to market them to increase the demand for them. One way is to create an exclusive aura that appeals to people who are status seekers. This doesn’t just work with high income demographics, although that is generally where it is used, but it also can appeal to middle-income people who want to upgrade their image by taking part in exclusive products and offerings.

Think Cars

Would you rather been seen driving a value Honda or a classy BMW? Well, if you’re like most people, the car that you would prefer, if you had the money, would be the BMW. Is it because a BMW is such a unique car that no other car in the world can come close to it? Probably not, at least not in the minds of those people who opt for it. It has more to do with the instant association of wealth and status that driving a BMW confers. They even are referred to affectionately a “beemers” that have such an impact on class consciousness. Well, there is no reason you can’t create the same aura of exclusivity around your products and services to help you market them more.

What Makes Your Products Special

The best way to make a product feel luxurious and exclusive is to very explicitly tell everyone about the finest details of this product that make it special. It’s really not over the top to talk about the fine silver filligree made in Europe or the special process that went in to creating such a unique and exclusive product. The more you tell people why your product is special, the more they will believe it.

It may seem boring to detail everything from the design of the leather engraving to the special and laborious and perfect cut of a diamond that reflects 72 facets, or whatever. But, really it’s not. People who are very into status and image love to hear exactly how this piece is special so they can turn around and tell their friends too. And, hopefully, by doing so you also get some more sales from word of mouth too.

Limit The Product Roll out

Another great way to make your products exclusive is to limit them to a certain number of people. This is done with artist’s prints and it helps to spur sales for people who may be sitting on the sidelines thinking the offer will stand forever. Make sure your customers know that this is such a good deal, and only a few select people will get to take you up on it for that promotion. And, if you do make a promise not to roll it out the same way again, whether it’s by giving the same price or the same design or whatever, you have to stick to your promise. It’s only an exclusive offer if later on you don’t offer the exact same offer to someone else and disappoint your earlier customers.