Luxury Marketing Secrets - What every entrepreneur can learn from luxury brands

But one thing that I get a lot that I hear from aspiring online entrepreneurs is that my industry is so crowded, and that completely grinds my gears because it's not true.

The ones who are succeeding are really borrowing some marketing strategies from luxury brands.

Yes. So if you wanna know how to market like luxury and really the secrets that every entrepreneur should take and learn from luxury brands, you're in luck because I'm gonna reveal the secrets starting right now. Hey,

now. Hey, hey, Courtney Sanders here.

Welcome back to my channel.

If you're new to me.

I'm a full-time online life and business coach as well as wife and mom.

I wear all the hats and do all the things, but one thing that I get a lot that I hear from aspiring online entrepreneurs, whether they be coaches, industry experts, personal brands, it doesn't matter, is that my industry is so crowded, man, I would charge those prices, but my industry is so crowded or, you know, I don't know if it's possible for me to succeed because I see so many people in my industry doing the same

thing. And that completely grinds my gears because it's not true.

thing. And that completely grinds my gears because it's not true.

But I've come to the realization that really what sets those who really are able to command the prices that they are looking for and really have a lot of fanfare around their brands, and those who struggle and complain about how much competition there is, is that the ones who are succeeding are really borrowing some marketing strategies from luxury brands.

Yes. So if you wanna know how to market like luxury and really the secrets that every entrepreneur should take and learn from luxury brands, you're in luck because I'm gonna reveal the secrets starting right now. So,

now. So, to give a little background, I actually got really interested in luxury brand marketing after reading the book about the Cartier family.

It's literally called the Cartiers.

And I started reading this book not for like marketing tips, but to learn about how they really were successful as a family and were able to maintain the wealth that the original, you know, Cartier patriarch created through the different generations.

So as a business owner, I think about this a lot because I'm like, man, I would love to pass my business down to my kids and my kids' kids, and I would hope my great, great, great grandchildren are able to continue the legacy and all the wealth that my husband and I are working so hard to provide and really create for our family.

You know, I want that to, to stay in the family, right? I,

right? I, I read all these crazy stories about really prominent people who had all the money kind of frittered away.

In fact, a famous example of this is actually the Vanderbilt family.

And you might not know this, but CNN, anchor Anderson Cooper is actually of Vanderbilt lineage.

But unfortunately, by the time, you know, he was born in his generation, much of the original fortune that Cornelius Vanderbilt.

So the railroad magnet that he had created, I wanna say in the late 18 hundreds had already been gone. So I love reading about history and all these different

gone. So I love reading about history and all these different things, and I also love learning from other people's mistakes.

Okay? So I'm like, look, if you've already done this, you know, I love to learn from people who are succeeding, but I also love to learn from people who have made mistakes so that I cannot repeat them.

And so I realize that the Cartier family has been a family that has maintained, again, not only their wealth and their legacy, but also the name and the prominence of their brand for a really long time.

So I was reading the book from that standpoint, but as I started reading the book, I was really fascinated by how they were able to attract the attention of some of the most prominent people in society, even, you know, royal families from different countries, and how their jewelry really became like, you know, the top jewelry in their heyday and remains one of the top jewelry brands even now.

And so that was like a little thread that I pulled, and it really sent me down this pathway of learning about luxury brands and how they market, and really some unique things that I think all businesses can take from them, regardless of whether you consider your business luxury.

And then on top of that, I had the opportunity to have my own luxury experience in New York City recently as I'm working with a friend of mine and now a client as I'm helping her build her business. But she is a stylist and image consultant that really

business. But she is a stylist and image consultant that really helps women who are rising to prominence in their careers and in society really structure not only their wardrobes and their style, but really their whole lives, you know, how they entertain, where they travel, all of that.

She helps them really get all of that together to reflect the new level of the success that they are embarking on.

And so she allowed me to come along with her to really see one of the experiences that she is able to provide for her clients.

And it was truly a private v i p experience at the flagship sack store in New York City.

We had the red carpet rolled out for us.

We got to see exclusive designs from Fendi and Mark Jacobs and you know, had clothes pulled for us and Champaign, and it was just an amazing shopping experience.

And I was like, wow, you know, your girl could get used to this, right? And even now as I've,

right? And even now as I've, you know, come back down to earth and come home when I think about shopping, I'm like, man, I think I'm gonna continue to shop at s because that experience was just so amazing.

And so I really think about this because I'm like, wow, what separates brands where people wait in line to give them thousands of thousands of dollars versus brands that others just completely walk past.

And you know, the clients try to nickel and dine them or really haggle them. And I realize a lot of it has to do

them. And I realize a lot of it has to do with the secrets that luxury brands understand.

And so I say that these are secrets that any business can use because I find that a, a lot of non-luxury brands use this to great success.

In fact, one of the most prominent brands that has done this, even though it is a mass market brand, is that of Apple, apple computers, right? So I'm an Apple girl,

right? So I'm an Apple girl, I am a admittedly biased Apple person.

There is a war in my household, my husband is Android, I am Apple.

We're still duking it out.

But Apple remains one of the few companies that though they beat a mass market brand, they really do tap into and leverage a lot of these luxury brand secrets that I'm going to be sharing with you that has allowed them to stay ahead of the curve.

Even as Samsung and other, you know, manufacturers have tried to say like, our camera phones are better, you know, our camera pixels are better and we have better technology.

But people still line up, you know, for the next Apple Release.

What is it about businesses that allow them to do it?

What is that special Genk that they have that allows them to really set themselves head and shoulders above others in their industry? And so I was really excited to learn these secrets

industry? And so I was really excited to learn these secrets and to, to learn more about them.

And I'm really excited to share them in this video because I know so many people struggle with landing clients, let alone landing clients at a premium and having clients really clamor for what they have to offer.

So if you're like, Hmm, I want, can you sprinkle some of that, you know, luxury marketing dust on my business?

You're in luck because we're gonna get into it right now.

All right?

Most people think luxury has to do with price.

And in fact, I know a lot of people are kind of turned off by luxury brands because they see it as kind of like snooty and elitist and you know, why are the prices so high and all of that.

But as I said, you can be any type of business, whether you're a luxury brand or not.

Again, you could be like Apple, you can be like, you know, a chocolate brand and tap into a lot of these different strategies. And you have to understand that it's really not about

strategies. And you have to understand that it's really not about price as much as it is about prestige.

And this is something that I wish more and more entrepreneurs would really take to heart.

The reason why you see lines, you know, out the door for, you know, super expensive brands is not necessarily because they are priced so high, but because of the prestige that that brand often will be stow on the clients who are frequenting or buying from that brand.

And so that is something that you'll wanna think about in your business, not just what is it that you do, or if you're even good at what you do, even though hopefully you should be.

But you wanna think, what does it say about your clients when they work with you? Because whether you like it or not,

you? Because whether you like it or not, that is something that they are considering.

And I've seen it, I've seen, you know, high level coaches, I've even been coached myself by high level coaches where, you know, people are proud to say, I am in this person's coaching program, or I bought this person's course, or I attended this person's event, because that person is able to brand themselves in a way that it bestows prestige on the clients that they are working with. So if you are tired of having clients nickel and

with. So if you are tired of having clients nickel and dine you and you're like, man, I wish I had a line around the block instead of, you know, chasing down clients, I wish clients were chasing me.

In addition to really focusing on what you have to offer and making sure that it's a, you know, a good roi, also think about how can you be so a level of prestige for your clients, right? People buy things for a variety of reasons,

right? People buy things for a variety of reasons, and yes sir, the functional reason that they want something, there's yes I want this handbag because I need to keep my, you know, wallet and my makeup in it, or I need this computer because I need to be able to, you know, write my papers for school.

But it's also, what does this say about me, right? And I know,

right? And I know, again, I'm a diehard Apple girl.

Many other Apple computer enthusiasts love the products, not just because they're well made and they're well designed, but also the sleekness, the vibe, the aura around it is that you are this creative individual who is trying to make change and, you know, make a great impact in the world, right? I can't necessarily say that for,

right? I can't necessarily say that for, you know, other brands that compete with Apple, but that branding, whether you think is true or not, is is very much associated with the Apple brand.

So you wanna think about what can people associate with you and how can you confer that level of prestige on your clients because it gives them even more of a reason to wanna work with you.

All right?

The next thing that you'll need to do is you need to truly know your worth.

And I could do a whole training, I probably will, I could do a whole training, I could write a whole book, like I could do a whole deep dive just on this concept of knowing you're worth.

But I think that this is so fascinating because particularly when we think about luxury goods, you often hear people who scoff at luxury goods say like, oh, it's not worth the money.

Why are they charging $3,000 for that bag when it probably costs them less than $30, you know, in order to manufacture it.

And what that person doesn't realize that they're saying is they're saying that the only value that they believe that that particular handbag or whatever, even if it's a computer or whatever it is, has, is just the functional manufacturing cost of that.

And so what people don't realize is they take that belief into their own businesses.

And this is also why they are so easily nickel in dime and why their prices are so low, is because they feel really guilty and they're like, Ooh, can I really charge whatever, $3,000 for this coaching program because you know, it really didn't take me that long to put it together and I just did it myself on my computer and the manufacturing costs weren't that high.

So maybe the value isn't that high and therefore I should, you know, charge the lowest price possible, or allow people essentially to argue with me about what my value is and agree with customers when they try to nickel in dime and say, oh, I don't think it's worth that.

Can I buy it for X, Y, and Z?

Again, we have to be careful of the mindset that we have towards other businesses and other brands because oftentimes we take that in within ourselves.

And so what I've learned, especially now studying luxury brands, studying what the founder's vision was and what they were really trying to accomplish, oftentimes what they're charging is not just for the manufacturing costs, even though quite as is kept.

And I can say this as someone who now has had this luxury experience in New York City, but you know, who now is at a place where I can buy designer clothes myself?

No, not every luxury brand is worth it, or not every luxury particular article is worth it, but most of the time the items are higher quality and are better made than respective items in the same category at a lower price point.

So it's not always a one-to-one match, but for the most part, you know, leather goods that are in the thousand dollars range are gonna be a lot better than the plastic or pleather goods at your local big box store where they're only charging $30 for it. Now,

it. Now, whether that's a value to you, maybe you need, you know, a leather handbag or you don't, that's your own business.

And you know, that's not to say you know anything about that, but we have to get out of the standpoint of thinking that the only value that is in something is just simply what the manufacturing cost is.

Because particularly as a knowledge worker, right, as a a personal brand, someone who is an expert, someone who's trying to provide their coaching, I mean, how much does it cost for you to think of things, right? How much is your imagination and your creativity worth?

right? How much is your imagination and your creativity worth?

And so what I've noticed is that a lot of luxury brands, why they in part, are able to charge as much as they do, even above and beyond what others are able to do in the same category, is because there is a level of vision, a level of innovation in creativity that they are bringing.

So no, it did not cost, you know, x amount of dollars in order to manufacture that particular shoe.

But when we think about that design and how that came out of somebody's mind, and that was their unique art, almost, if you want the real thing, cuz I know that there, you know, oftentimes will be brands that will try to copy and knock off what a luxury designer has created, but oftentimes they are charging you for what they feel is worth for them to continue to get,

get up in the morning and come up with these creative ideas that no one else has seen, and to create these goods that are really gonna set you apart when you wear them.

Because most of the time, most luxury design houses really focus on having one of a kind designs.

And so that is something that you can focus on too.

And truly knowing your worth know your worth and your coaching program is not, you know, how much it costs for you to pay for your internet so that you can get on Zoom.

Like, that's not what people are paying for.

They're paying for your unique expertise, they're paying for your unique knowledge.

And notice I'm saying unique because oftentimes we think that we can create a successful business simply by doing the same thing that someone else is doing.

So I see this a lot with life coaches, you know, they run out and get coaching certifications.

Nothing wrong with that.

I'm getting my own coaching certification.

I have several videos where I talk about why that is the case, and hence I am launching my own coaching certification program.

And so I needed to get a coaching certification by, by virtue of being able to sell my own.

But many people think that, man, if I can just get this certification or this degree or this piece of paper or you know, this skillset that allows me to do this thing, then I should be able to be successful and to, you know, charge whatever.

And that's not the case because there are other people who have that same skill set, certification degree, that same knowledge.

So you need to be able to bring something unique.

There has to be a level of artistry, a level of innovation to what you are bringing that sets you apart where people start to feel like, you know what, I can only get that level from that person.

And that is a luxury technique that any business can use.

All right?

I have more where that came from, but first I wanna hear from you.

Do you use luxury marketing in your business?

Share in the comments below.

All right?

The next thing that you'll wanna do, which is kind of related to the previous step about knowing your worth, is you want to sell the story.

Actually, the story is a part of the value that you offer and you're like, how can I sell a story?

Like what is a story worth?

Like, is the story even tangible?

Can I even touch it?

Again, that's the mindset that you need to eliminate that I just talked about on the previous step.

That, you know, the value of something isn't just boiled down to the material cost. There's the innovation,

cost. There's the innovation, the artistry, the creativity of it, but then there's also the story around it, right? And you,

right? And you, you might be wondering why wouldn't anyone want to buy into a story, but they buy into stories because it's inspiring.

And so if you are an inspiring person, this is why I talk all the time about how it's not enough for you to know how to coach someone, but you should have some level of expertise in that, meaning you have done it yourself, or you have guided others to do the thing that you are coaching.

You should have some personal experience because if you do on some level, you're gonna embody the person who can do that thing, not just someone who knows how to do that thing.

And so when you tell your story, it's very inspiring to people who also aspire to do the very things that you have done.

And so your story does have value because it motivates them, again, it inspires them, and it it gives them the, the juice and the motivation that they need to actually take the information that you are technically selling and actually put it to good use because they've heard your story.

And so luxury brands do this even from a con a consumer standpoint.

In fact, I'm remember learning about the Chanel bags, I was actually studying that because Chanel, I think it's Chanel bags and Rolex watches have like outpaced even the stock market over the last few years in terms of the return on investment and how the prices always go up. And you know,

up. And you know, you buy a bag 10 years ago and now it's worth double what you paid for it.

So in many respects, a lot of these luxury brands can actually be investments, which is really interesting.

But as I was studying learning about Chanel bags and I was studying about the boy bag, I was very interested in that because boy is actually not the French term for boy, right? I forget what the term is.

right? I forget what the term is.

It's, was it Garong Gus song?

I don't know, correct me all my French viewers, I'm more of a Spanish girl.

I studied Spanish and high school, but I knew that, boy, that's the English word for a male child, right? That wasn't the French word.

right? That wasn't the French word.

And so I was curious and then ended up stumbling on the story.

That boy was actually the first name of one of Chanel's, you know, famed lovers and that she, or that rather the bag was named after them.

And this love story.

And there's this whole kind of like romantic notion that goes with the bag that in part is what they're selling, right? So no,

right? So no, are they just selling, you know, the the the lambskin and you know, the metal hardware and the stitching, the manufacturing costs?

No one, they're selling the design and the innovation, but they're also selling the story that kind of romantically wraps people in and gives people a sense of romanticism, of inspiration every time that they wear the bag.

So you might not feel like that is worth anything, but you know, plenty of people who are buying the bags feel like it is. And so that is something that you'll want to incorporate

is. And so that is something that you'll want to incorporate in your own business.

If you want to take some of these luxury secrets, think about your story, tell your story often and sell your story along with what you are actually selling, whether it be coaching or a course or what have you.

And you'll find that it is actually added value because it inspires people and gives them the extra motivation to actually take to heart what you are teaching them.

All right?

And the next thing that you'll wanna do, and this is really I think the biggest secret or modus opera operandi that a lot of luxury brands operate under.

And that is this idea of create don't commoditize.

And so to commoditize yourself is to come up with things that are very similar to what everybody else is doing.

And to try to compete on that front.

Oh, somebody else is in health coaching, they're coming up with a course on how to quit sugar.

I'm gonna come up with a course on how to quit sugar. Like who cares?

sugar. Like who cares?

Like now I'm just comparing you.

And basically both of your courses are now a commodity and there's nothing really special about it outside of like, okay, I'm gonna learn how to quit sugar.

But when you factor in all of these other strategies that I've been talking about, especially you know, the creativity, the innovations, telling the story, all these different things, conferring a level of prestige on your clients, you then start to create something very different.

And again, something that is set apart from what everyone else is offering, don't ask yourself, Hmm, what is everybody else doing?

How can I copy?

How can I compete?

How can I essentially, you know, do what everybody else is doing because all that's going to do is make you a commodity.

Instead, you'll wanna say, what is something that I can create that is really unique that hasn't been seen before in this industry?

And that will set me apart because that's what all luxury brands endeavor to do.

And often when they hit something, when they create something that is like all the rage, others will copy them, but they were the original.

And people who value that only want to buy from them.

All right, I hope you enjoyed this video.

If you did, you're gonna love my program.

The package, it really teaches you how to not only come up with packages that sell in your coaching or expert business, but how to be the package that sells, how to really position yourself and tell your story in a way that sets you apart from anyone else.

This is one of my favorite programs that I've ever created.

It's very in-depth, very game changing, and it goes very in-depth in a lot of these luxury strategies that I've talked about here in this video.

So if that's of interest to you, you can click the link below to learn more about it.

All right, thanks so much for watching this video.

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And with that, I'll see you in the next video.

Bye.