Branching out into the mass market can be a great way to take your luxury brand into a lucrative new direction.
So, if you’re an entrepreneur who has created a luxury brand and perhaps wants to make it a mass market luxury essential, or if you’re considering trying to make a luxury item a household name, look no further than the four tips we’ve compiled.
- Change Your Marketing Strategy
One of the biggest factors that makes a luxury brand a household name is a marketing strategy that can convince the customer that they cannot live without your product.
This is particularly effective for products that are quite niche. Convincing your customers that your product will make aspects of their life easier or faster will mean that you’re on to a sure winner.
To do this, you might want to invest in an advertising campaign, or brush up your social media skills to promote your product. Increasingly, platforms like TikTok are being used by influencers to give a working demonstration of products, so you may want to use influencer directories like Grin to find the perfect face for your brand.
- Convince Your Customers of Value for Money
Although your product may be pricier than their cheaper counterparts, it might be wise to adjust your marketing campaign to feature your product as one that provides good value for money, and paying a higher price reflects the quality of the design and build.
This means that your customers will likely invest in your product due to the trust they place in your brand to provide them with a reliable product for longer, instead of a cheaper product that will likely fail faster.
- Use Recruitment Software to Expand Your Company
To enable your brand to establish itself in the mass market, you may need to expand your company to hire an in-house copy team, advertising specialists, and a marketing team to name just a few.
You can use software like Oleeo to help you mass recruit for roles within your company that will help you to expand your brand and further enhance its quality.
- Know Your Market
To achieve success with your luxury products, it’s important to know the ideal market for your items, and the right places to stock them.
For example, if your products are luxury kitchen items, stocking them in an upmarket independent department store would be an ideal environment for them. Similarly, for niche gift items, stocking them at christmas markets where luxury gift items are common, and more likely to be impulse-bought.
Wherever you stock your products, it’s important that you can market the products effectively with signs, clearly labelled prices, and perhaps even a selection of business cards with additional information like your company website, social media channels and contact details.
You can use websites like Moo to design and purchase a next day delivery of professional business cards to help you promote your business.
Do you have any tips for establishing your brand in the mass market? Leave your answer in the comments below.