What does it take to Create a Luxury Appeal in a challenging economy?

By Kathleen Hawkins

President/Founder WOAMTEC

Many businesses struggle with the idea of implementing an amplified product focus because they believe their demographic can’t afford a luxury product especially during these tough times. Though offering a higher-cost product does affect the perceived value of your products and your business identity, it is not the only factor in luxury perception.

Consider implementing these practices to help create a luxury appeal:

1. Never underestimate your customers. Believe that they have the desire and ability to upgrade to the next level. Especially with Women, when they want something, they find a way to make it happen. Believe it.

2. Create genuine benefits. Don’t try to get by on a brand recognition alone or deceive your clients by pretending what you offer is better if it not. Also, focus on improving your talent and making your products technically and functionally more adept. Constant education is imperative when evolving your business. If you are not attending conventions like the Confident Women Conference or the Make Money Conference to continue evolving your business, it will be difficult for you to get ahead.

3. Deliver a flawless experience. It is difficult to always offer something your competition doesn’t; it is only a matter of time before they catch up. However, you can always outshine the competition by implementing procedures that ensure a perfect experience.

4. Think like your competition. Sure, we all love each other. Most industries are an open and friendly one. However, top businesses take the time to think like their competition. Study other businesses and incorporate any of those that will benefit your clients. Try to see your business from the outside in.

The bottom line is this: if you are working and making money, you own a business. Though you might want to pour all of your time and energies into what you like to do. You have to focus on the things you don’t like to do as well or be able to afford to hire someone to do those things. CATCH: delegating does not mean dismissing. If you are not doing it, you are still needing to supervise what is being done.

Your clients expect you to show some business savvy and competency. If you elect to emphasize or offer only the basic or anticipated products in your studio, you may gain more clients initially, but you will retain fewer clients and will need to work harder to gain your overall market share. In an era when relationship marketing and customer service is the pulse of most successful businesses, making less, giving less, and doing less for your customers should not be an option. Help your clientele cherish their experience with you. Amplify your products.

If you don’t give your clients what they are looking for, someone else will.