Leverage exclusivity and scarcity
Posted: Sun Dec 22, 2024 5:44 am
Limited editions can create a sense of exclusivity. For example, a designer bag that is released in limited quantities is more appealing to buyers than a mass-produced edition.
Hermès has taken this strategy to an extreme and russian phone number search unique level, creating a level of scarcity that requires buyers of a Birkin to wait a while.
This strategy is useful for offering custom or made-to-order products. Limiting the quantity of custom orders allows you to maintain exclusivity and increase demand for your products.
By the way, running pre-orders is a great way to measure interest in your product and also helps create a sense of scarcity, as well as improving measurability and the results of your advocacy or nonprofit media buying program.
Provide a personalized experience
Personalization adds value to the buying experience and makes customers feel valued, which is critical when positioning premium products where aspirations are highest.
Consider how you can add personalization elements to your product, such as:
Offer custom or tailor-made options for your products
Provide personalized recommendations based on customer preferences
Create a VIP membership with exclusive privileges and benefits.
A great example is Chanel’s personalization service, which offers jewelry adjustments or engraving options. This strategy requires little investment but can greatly enhance the customer’s shopping experience. Jewelry brands, take note.
Hermès has taken this strategy to an extreme and russian phone number search unique level, creating a level of scarcity that requires buyers of a Birkin to wait a while.
This strategy is useful for offering custom or made-to-order products. Limiting the quantity of custom orders allows you to maintain exclusivity and increase demand for your products.
By the way, running pre-orders is a great way to measure interest in your product and also helps create a sense of scarcity, as well as improving measurability and the results of your advocacy or nonprofit media buying program.
Provide a personalized experience
Personalization adds value to the buying experience and makes customers feel valued, which is critical when positioning premium products where aspirations are highest.
Consider how you can add personalization elements to your product, such as:
Offer custom or tailor-made options for your products
Provide personalized recommendations based on customer preferences
Create a VIP membership with exclusive privileges and benefits.
A great example is Chanel’s personalization service, which offers jewelry adjustments or engraving options. This strategy requires little investment but can greatly enhance the customer’s shopping experience. Jewelry brands, take note.