The high-end market is where the money is, or so they say. Sure, wealthier people have more money to spend, but you face the same problems with them as you do with average customers who can spend less: getting them to open their wallets. In order to do that, you need to give them an incentive to spend, and it surprisingly won’t take a whole lot of investment on your part, especially if you have a product that is likely to appeal to the well-heeled crowd. All it takes is a little ingenuity and a few tactics that create added value to get your desired clientele into your business.
Establish Credibility
One of your biggest goals when trying to attract high-end clientele should be to establish credibility for your brand. It should be obvious that customers will be more likely to work with and buy from a company that they trust. To do this, it’s important for you to network and share your knowledge of your industry with the kinds of customers you hope to attract. You can also engage with potential customers online or create a blog that details your products or services. Creating trust and credibility won’t happen overnight and is something you’ll need to work on long-term and throughout the entire time your business is in operation. Make sure your products and services are always high quality and that everyone within your business is working hard to put forward the best version of your brand. In the event that a product is not to the client’s liking, or a service is not rendered in the way it was expected, own up to the mistakes and work with your customers to correct the situation.
Create a Product With Limited Supply
Exclusivity is a major driving force in the world of high-end goods, but don’t aim to have every last item you sell be limited edition. You still need to get people in the door. Instead, take the best of an item and turn it into the very best it can be. Use luxury materials and keep the production numbers low to restrict the number of units making it onto the market.
Image via Flickr by fidgetcircle
For example, your fidget spinners sell for $5 to $10 on average and they sell well. However, you want to take that fidget spinner to the next level. You have to source the best materials and spare little expense. The end product is a high-quality fidget spinner that costs much more than your average widget and has luxurious materials and engineering that create beauty and longevity. The price reflects that quality, and it’s something that draws the attention of affluent customers.
Offer a Perk to Get People Into the Business
You might have a storefront or you might have a private location that the general public won’t see. Think about putting together an exclusive after-hours event for the storefront and a sneak-peak opportunity for the private location. Make the event feel even more exclusive by offering valet parking to all of your guests. Valet parking relieves your guests of the need to find a parking space. Place a red carpet that leads to where they pull up, instruct the valets to open doors for guests, and let them walk up the carpet as the valets pull the car away.
Create an Elegant Interior
If you have a store front or a physical location that customers can visit you at, make sure the interior is elegant. Regardless of what you’re selling, potential customers are going to walk into your building and make a first impression about your brand, based on the style and overall vibe of the place. When designing or renovating your space, you can choose materials such as steel, glass, wood, and marble throughout to give it a more luxurious atmosphere. Bright white and neutral tones can also aide in creating an interior that feels expensive. Additionally, simple furniture can create a fresh, modern look.
Use Word-of-Mouth Marketing
Traditional marketing is one way to get people into your store, but luxury buyers are somewhat immune to these tactics. They may even see themselves as above buying products that are openly advertised. Try a whisper campaign to attract their attention instead. Have people talk about the product on social media without sounding like they’re advertising, offer freebies to the “in crowd” and have them wear or use your product in public and at parties, and use other subtle means to get the word out about your business.
Offer Top Notch Customer Service
Your customer service practices are a reflection of the overall quality of your operations. You should always be polite, respectful, consistent, and happy to help customers when problems arise. With high-end clients, it is likely that they can afford to buy their products and services anywhere. So, in order to avoid losing them to someone else, you’ll need to be on your A-game at all times. Treating customers poorly lets them know that you don’t take them or their money seriously. It could also cause them to speak negatively about you to their friends and family members, giving you a bad reputation with other potential customers.
These six tips are starting points for you to get the attention of the high-end market. You’ll find that you’ll develop your own methods once you learn how to get your product into the hands of those who are willing to spend more money for a top-notch experience.