In today’s episode I look at a client’s question about how a brand can define itself as a luxury brand. There is no set definition of luxury. Ask your clients what Luxury means to them – it is all about perception. In different countries and cultures, luxury is defined differently : for example would you consider Lacoste to be a luxury brand? In the US, perhaps not. But in China, it is!
First of all “premium” does not mean luxury and luxury does not always means premium. Most people think luxury to be “expensive” but that is not the case.
Here is the transcript of the video for easy reference: I read some where that the definition of “luxury” is an experience where the service is astonishing!
A luxury brand is made up of many components that justify it being called a luxury brand. These include:
SERVICE / EXPERIENCE / PRICE / BRAND IMAGE
Today I will cover using SERVICE to turn your brand into a luxury brand:
A luxury service is joyfully serving the clientele with a sincere desire to make their experience as pleasant as possible.
There is an awesome book by Cary Cavitt called the Luxury Service that I would recommend you to read. He writes about 5 different facets of a luxury service or brand.
#1 The Selfless Factor
Luxury service is getting lost in the experience of serving others. Thinking about the needs of our customers should be top of mind. There is no “I” in this situation.
EGO is the biggest enemy of entrepreneurs. I have my fair share but I am constantly trying to realize that and try and combat it.
Start your day bowing to your customer – metaphorically speaking. Being humble is the key. This is the Japanese way of doing business. You wonder why they keep bowing all the time!
You are NOT the boss!
My daughter bought me this wonderful mug that says “the boss” that I keep on my desk all the time to remind that being the boss is not really useful to anyone. I can not even use it for drinking. It is an ornament.
#2 The Above and Beyond Factor
I’ll do whatever it takes attitude. Not only meeting expectations but exceeding them! Suppose you charge for a service and the client asks for something extra – luxury service is going beyond the usual and giving that extra. Of course I, understand that it depends on what you are charging the customer otherwise it becomes counterintuitive. But you get the idea.
Average service is a sin!
#3 The Care Factor
I want your visit or experience to be exceptional. Have a genuine wanting that your clients should have an exceptional experience.
Forget about the dynamics of your business and the financial equations for a minute.
When clients realise that you truly care for them, instantly you have a luxury brand!
If you don’t care about your clients, it is not worth running the business.
Remember you are a client too and remember all the nasty experiences you have had with businesses that did not care about you!
#4 The Honored Factor
I feel privileged to serve you. If you are a business in the US then this would feel like an alien concept!
What?? Why should I feel privileged to serve my customers? They are paying and I am serving!
Reminds me of the “Golden Rule” that has been told in almost all religious scriptures. Go on – Google Goldern Rule and you will see what I mean.
Put simply it is “One should treat others as one would like others to treat oneself.”
#5 The Appreciation Factor
I appreciate you for choosing to business with out brand.
Remember that of all the options a client had to chose from, they chose your business. Showing appreciation for that goes a long way.
By being genuinely appreciative of our clients, we turn our business into a Luxury business.