How do you start a business and turn it into a luxury brand FAST. How do you charge twice what your competition charges and still crush them.
I’m going to go on and break this expensive thing down in this post. But read Part one here first so you get it
I was in at a cool bar last weekend. And when I walked in the place was this big nice place, with the disco light thingy, sofas and music blasting and all.
One part of the bar had a short glass barrier. And I saw quite a number of people right there. I asked one of the waitress and she told me that was the VIP section.
‘’How do I get in’’. I asked.
‘’The services are different, sir. In there Heineken is 600 naira, here it is 400 naira’’
I looked at the place. It was the same big bar. Same air condition was blowing all of us. Same breeze. The only difference was that the seats were nicer and the glass barrier was in front. Daz all.
But they were paying MORE for drinks.
The secret is one THING.
AD ONS. The same thing most people call packaging.
I know a barbing salon that charges 2,000 naira while everyone around charge 500 naira. Can you beat that? 1,500 naira difference…..the only difference is that the barber shop is nice, and while you wait for your turn they give you newspaper, and a glass of wine – as in, one bottle of wine that they will be pouring small small inside cup. Plus the place can be chill like a refrigerator
People go there to cut their hair, then come out and brag about it.
To position yourself as a luxury brand you need to offer more value that your competitors are not giving. SIMPLE.
It is called AD ON. Packaging.
The more attractive your ad on is, the lesser people with money will argue your price with you. All they’d say is; ‘’It is worth it’’
The well to do don’t buy products. They buy into experience. Why would you spend double the price of CIROC just because you were in the VIP section? Simple – because of the VIP feel, the look of envy from other club goers, the look of admiration from the ladies, the premium treatment from the. waitress.
The damn experience. Someone in my previous post said it depends on how long you have remained in business. Let a mama put stay 12 years in and increase price to Quilox standard without packaging like Quilox. She will eat the food herself
Why would you buy an iPhone for that high price? Because you want to pull it out and people will say – ‘’Chai chai, he has an iphone’’. Because you want to take mirror selfie with the thing and the half eaten apple will show. Because you want to enjoy apple store, and the cool apps that don’t run on android.
The damn experience, Brethren.
The more awesome experience you offer, the more your price will be acceptable no matter how high. And what makes the experience – simple; Your ad ons.
You need to iPhone up, and people will pay you iPhone money for your product or service. For exactly how to do this, i explained it in my Crazy Profit System class. Go here to get in now