Sell that high priced item with ease

Are you selling an expensive product or service but struggling to sell it, due to the price tag?


If you want to know how to confidently sell anything with an expensive price tag, stay tuned as I give my 5 of top tips behind high end sales and explain some of the psychology of high end sales


Want to watch the Video where I explain this? Click here


Some stats to share the impact of sales & selling on consumers


45% of luxury shoppers want more personalized products and services.


75% of affluent shoppers conduct research online before purchasing.



By 2025, the Bain analysts predicted, the online channel will claim a quarter of the luxury market’s value, and even brick-and-mortar sales will involve a digital component.



Harvard Professors Say 95% of Purchasing Decisions Are Subconscious.



Why am I sharing this with you? To show you that your success as a sales person in the luxury market is determined by so many factors.


Once you understand the psychology of WHY people buy high end items, you will be able to sell anything regardless of price


Before I continue, I want to ask you, have you ever impulsively bought something online that you couldn't afford?


If you have, tell me in the comments. I would love to know why?

If you said yes , don't worry we have all been there . You bought something and you have no idea how you are going to afford it .


This brings me to my First tip-


1. Most of our buying decisions are primarily irrational, driven by our emotions.


Repeated studies have shown that by buying luxury items, consumers are able to transport themselves to a place of higher self-esteem, They can get comparable, cheaper products – but they don’t want to, even though they will have the same function and the same relative quality..


Take Apple products, for example. Apple has a huge share of the smartphone market, they are seen as the ‘best’ brand with a huge following – but their products aren’t better in superiority or technology.


An example would be; Samsung.

They make better phones and generally have a lower price point, but Apple is retaining its share of the market because of customer brand loyalty.


One of the biggest reasons their customers are so loyal is because

they make the consumer feel like they are a better person for having the product.

It creates an aspirational value in the consumers’ eyes.


The story that they convey throughout their marketing is a powerful one. It oozes lifestyle, innovation, passion and style – and why wouldn’t you want to be part of that?


You need to incorporate your service /brand into a certain lifestyle and sell the feel good aspect of that lifestyle.Connect with the emotional side your customer wants to aspire to be.

It’s like an exclusive club that has millions of members.


This brings me to my Second tip-

2. Creating a sense of exclusivity

Since the dawn of time, mankind has wanted to belong, to be part of the tribe.

It doesn't matter what the size of your company is. If you can create a sense of exclusivity, your clients will be begging YOU to join.


How do you do this? This ties in with your ideal client avatar.

Identifying WHO your Ideal client is and marketing to them.


If I’m a health and fitness fanatic and you are selling an amazing super food and asking me to join a club where we will all be living our best lives together , I will gladly purchase and join and oppositely if you were marketing to a guy that only eats fast food, you would need to hard sell.


If you want to know more about your ideal client avatar, Anandie made a pretty awesome video on it.


If your clients are all part of an exclusive club , they want to be there and they are happy to be there


This brings me to my Third tip-


3. Your pricing doesn't matter as much as your value proposition does.


Of course clients are worried about getting the best price.. Right?

Wrong.


If we look at some of the most well known high end luxury brands out there for instance Ferrari you will notice that Most of their catalogues don’t even include pricing.

They rather focus on selling the lifestyle and benefits of the car.


I've heard some of the best sales people lose a sal, as they were focusing on the price proposition when the client was asking about the benefits and /or exclusivity of the brand.

If you are confident and knowledgeable about what your brand offers and what sets it a part- price won't matter as much as you think it will


That brings me to my Fourth tip -

4. Becoming the brand


When you sell a high end luxury service you are not just selling it , you ARE it!


Every single touchpoint of a luxury brand needs to exude the style and value of what you are selling.


Luxury is in the detail, and it's consistently delivering it on all platforms .



This brings me to my last and super important sales tip-

5. Bring your luxurious experience online.


As I mentioned earlier on in my stats by 2025, the online channel will claim a quarter of the luxury market’s value.


When considering that you will be marketing to the Millennials and generation Z that are doing all of their research online , your online experience better be as amazing as your one in store.

Luxury brands spend millions on store designs and great sales people, but when moving online you need to ensure that your brand is giving that same experience while also connecting with your customer and making them see why they need your brand in their life.


Some practical tips when it comes to an luxurious online experience is


A - Ensure you don't use bright colors and incorporate a clean cut design.


B- When adding images of your product (especially when selling physical products) have images from various angles and include a model / consumer wearing it.


Lastly keep it extremely user friendly ,and avoid any unnecessary pop ups.


Luxury sales is such an intricate subject but the key takeaway is focus on the experience , create a sense of exclusivity, and ensure that all your touchpoints ooze luxury . .


As Angelo Bonati so eloquently put it "Luxury is attention to detail, originality, exclusivity and above all quality."

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