Table of contents
- What Is a Luxury Brand and How Does It Work?
- Luxury Branding: The Untold Story of What Sets Luxury Brands Apart from the Competition
- How to Come Up With a Luxurious Brand Name
- How to Design a Logo for a Luxury Brand
- How to Create a Luxury Brand From the Ground Up
- How to Establish Yourself as a Luxury Brand If you haven’t already, become one.
Why? Because premium brands are incomparably different from conventional ones.
Because of the billions of dollars that large firms like Macy’s invest in their advertising and marketing activities, even those who are uninterested in business have at least a vague understanding of the best techniques for growing a brand, much alone the vast majority of entrepreneurs. However, the reality is that these same best practices are sometimes diametrically opposed to what you should be doing if you really want to be as successful as Patek Phillipe or Armani.
In other words, you must set aside all you believe you know about luxury branding and start from scratch. As a result, we will be able to begin developing your premium branding mentality from the bottom up.
As soon as you’ve done that, let’s get started with the first significant question you’ll have to ask yourself if you want to learn how to build a premium business like Gucci.
What Is a Luxury Brand and How Does It Work?
There is no need for me to bring you a history of luxury businesses from A to Z, but the most essential thing to keep in mind is why luxury is even a thing in the first place.
To cut a long tale short, individuals have always attempted to outdo one another in social situations. When it comes to our social interactions, both men and women have always strived to get to the top of their own social circles, regardless of their gender. To distinguish ourselves from the “commoners” and to become a member of the “elite,” we must first distinguish ourselves from the “commoners.” So, what is the most straightforward method of making this information known to others? The use of tangible things that people can physically touch and feel good about themselves.
This phenomenon soon spread to true royals who want to live well, as well as the craftsmen or dealers who provided them with the commodities they desired. That’s where you’ll see royalty being served exotic dishes from faraway lands that the average person couldn’t afford. Aside from that, you’ve had queens who recruited extremely trained craftsmen to build diadems that were entirely by hand and included the most precious metals and gemstones. This is the location where the luxury industry actually began.
Despite the fact that there is less of a literal distinction between “commoners” and “elites” nowadays, people’s desire to improve their social standing has not altered in the least. In fact, it’s only become simpler as time has gone on. This is a contributing factor to the existence of the “Gucci Gang.” People aspire to it because they unconsciously understand that it places them on a higher level than the majority of the population. They may practically spend their way to more distinctiveness and, as a result, greater self-esteem.
This is what a premium brand should be in its truest form.
A symbolic conveyance for individuals who wish to go up the social ladder is the escalator.
In order to avoid this, some individuals are willing to spend $100,000 for a vehicle even when an inexpensive automobile from a used car seller would actually do the same function. That’s because it has nothing to do with getting from point A to point B at that time, does it? It’s about getting from point A to point B while feeling better about yourself and informing others that you’ve reached a higher degree of accomplishment.
And what about other high-end purchasers that come upon your premium vehicle?
They now see you as an equal and recognize that you are a member of their elite club as well.
That is exactly what every premium company aspires to achieve.
However, do not be confused with “masstige” companies like Warby Parker. They are not a good example of how to develop a premium brand from the ground up. Premium brands like Gucci serve as excellent examples of how to build a successful luxury brand.
Luxury Branding: The Untold Story of What Sets Luxury Brands Apart from the Competition
Luxury brands are distinct from conventional brands in that they are more concerned with social status than with functionality. Luxury branding differs from other types of branding because the method you develop social status in a business is distinct from just marketing the function of the things you’re selling. Luxury branding can be defined as the process of establishing social status in a brand.
When promoting a standard brand, you often want to concentrate on…
Selling arguments that are distinct from the competition
Characteristics, advantages, and evidence
Offers that are just too good to refuse
This gives you the opportunity to advertise the reasons why your product is better than those of competitors. Instead of whey protein, you may mention that your protein shake has 24g of pea protein. It is utilized by the world’s best vegan bodybuilders to enhance their performance. Furthermore, if you purchase it now, you will save 20 percent off the regular price.
This results in sales, but not in social recognition.
So, what do you need in order to get status?
Artistic Exclusivity Rarity Uniqueness
Essentially, you want to convey the message that this is a product for the wealthy and well-to-do. Not a bargain product, but a high-quality one. Consider the following scenario: you are selling high-end chocolate. It’s possible to describe it as a limited edition Swiss chocolate bar created by a well-known chocolatier. It has a 24-carat gold coating on it. The wooden container in which it is packaged was designed by a local artist. And there will only be 1,000 of these bars produced in total. Oh, and the cost of a bar begins at $1,000 a drink.
That, at the very least, is the essence of it.
Then there’s the question of the distinction between labels like Dior and Louis Vuitton.
When faced with a circumstance like this, things get a bit more tricky. This is due to the fact that luxury branding does not actually allow for “superiority” claims to be made. However, this does not rule out the possibility of claiming to be unique. It’s worth noting that there is a significant variation between English and Italian suits. At the very least, it makes a significant impact on the client.
Having said that, it will be addressed later.
Creating a premium brand like Gucci begins with understanding that adopting luxury brand terminology and speaking and seeming like a luxury brand is important.
Following this introduction, let’s look at some ideas for naming your new luxury company.
How to Come Up With a Luxurious Brand Name
When it comes to brand names in the luxury market, there is a definite trend.
Fashion houses like Dior, Gucci, Armani, Prada, Chanel, Dolce & Gabbana, and so on
Because luxury businesses are often founded by designers, it is only logical that the brands be named after them. This is frequently true even for names like Ralph Lauren, which may not be genuine luxury brands but certainly flirt with the notion of being such, such as Gucci and Prada.
You may use any name that meets this description, so please do not hesitate to do so.
If you don’t have a name for your company, you might just make up a person’s name to use as the brand name.
Having said that, this isn’t truly necessary. By alone, the inclusion of a person’s last name in a document does not indicate wealth. It is possible if enough marketing dollars are invested in it. However, there is a slew of non-luxury firms that have adopted the founder’s moniker. There are also a large number of premium companies that do not utilize the last name of their founder. This brings us to an extremely significant topic…
Any name has the potential to be a premium brand name.
There are, of course, certain exceptions to this general rule. Consider the following example: something that is ridiculously generic would probably not be a wise pick. The great majority of conceivable brand names, on the other hand, maybe considered luxurious. This is due to the fact that, in all situations, it is the marketing behind a name that makes it seem luxurious, rather than the way it really sounds.
Consequently, it is advisable to name your brand after anything that distinguishes it from the competition.
It’s funny, but this is one of the reasons why designer names are utilized. The designer’s one-of-a-kind and original goods are what distinguish the company from the competition.
However, for the majority of individuals, it will come down to personal characteristics.
Origin, target audience, materials, components, and so on
How to Design a Logo for a Luxury Brand
Luxury firms used to have quite distinctive logos back in the day.
It was common for them to be much more imaginative and to employ serif typefaces. The reason behind this was that marketers wanted to communicate luxury via text messages. They were able to do so since the primary marketing channel for a luxury brand is offline, which provided them with the necessary flexibility.
Because of the internet, today’s situation is completely different.
Anyone who works as a graphic designer will immediately see the significant difference between fonts that work well for offline projects and fonts that work best for online projects. The rationale for that it is more readable. Some typefaces are easier to read on paper, whilst other fonts are easier to read when staring at a computer screen or on a smartphone.
As a result, most luxury businesses have altered their previous emblems to make them more suitable for digital use.
What is the most significant difference?
The usage of more straightforward sans-serif typefaces.
You could theoretically simply choose a suitable sans-serif font and you’d be ready to go, but this isn’t the case in practice. Of course, this does not take the place of a trained eye and the expertise of a professional graphic designer. In all situations, though, you will end up with a sans-serif typeface that is both functional and visually appealing.
If you want to learn “how to create a luxury brand 101,” don’t make a mistake.
How to Create a Luxury Brand From the Ground Up
Following the creation of a memorable brand name and logo, as well as a thorough understanding of the fundamentals of luxury branding, it’s time to launch your luxury brand. For the most part, it isn’t that complex. However, if you skip a step, you will significantly decrease your chances of being considered a real luxury brand. So pay close attention to the next instructions.
1. Concentrate on a high-end luxury category with affluent customers.
Every luxury brand begins by determining who it is that they are selling to. Identification of the appropriate target audience is essential; this could be anyone from city dwellers to yacht owners who desire a luxurious lifestyle. You should also specify the category you are selling in since there is a significant difference between selling handbags and selling expensive wine.
2. Make special, limited-edition products available to that audience.
The majority of high-end products share the same characteristics. Their production is typically based in countries that are associated with luxuries, such as France and Italy. The products themselves are made from a type of material or ingredient that is difficult to come by in comparison to the majority of mass-market items. A more in-depth or complicated manufacturing process is usually required to create the final product. And they’re not made in massive quantities. They’re also just harder to buy for reasons like price.
3. Create a powerful brand identity via the use of imagery.
You can’t just state that you have a luxury. It is necessary to graphically illustrate it. That implies that every point of interaction with your business, from your homepage to your product packaging, should be sumptuous in its presentation. It should be a completely unique experience that shouts “exclusivity” from beginning to end. A handmade hardwood package, for example, would always have a more premium feel than a basic polybag from Amazon.
4. Create a mythology for your company by narrating its narrative.
You aim to attract as many consumers as possible, which is in contrast to most marketing, which is often a direct response in nature. Today, the most effective method to do this is via content. Create mini-documentaries on the origins of your brand or the manufacturing process for your goods. Articles that describe the narrative of your company’s founder should be published. Produce podcasts in which you interview premium craftsmen from within your sector of business. Install Klaviyo and begin composing your email newsletters immediately. This may be supported through advertising, but keep in mind that the emphasis should be on narrative, artwork, and status building rather than on a “good offer.”
Check out this list of advertising companies that can assist you with the promotion of high-end products and services.
How to Establish Yourself as a Luxury Brand If you haven’t already, become one.
So you didn’t start out with a luxury brand in mind, and you’re wondering how you can make the transition? Read on. If that’s the case, the good news is that it’s a possibility. For the most part, this is accomplished by following many of the same ideas that are used while learning how to create a premium brand from the ground up.
When it comes to becoming a huge discount brand, your best option would be to just throw out your existing brand and start over from the ground up. You won’t be able to make that type of transition from discount to luxury because they’re diametrically opposed, and you won’t be able to shake off the links between the two. At the very least, not without millions of dollars in marketing. Even in that case, it’s usually best to simply start again from the beginning.
For premium or even mid-tier brands, on the other hand, it’s easy to get away with anything like this (Hint: this includes some Etsy store sellers who develop handmade products).
All you have to do now is start marketing to the wealthy.
The first step in making this a reality is to begin upgrading all of your aesthetic components. It’s important to remember that everything from the main image on your site to the additional piece of paper tucked inside your box counts. It is only when the event itself seems distinctive and exclusive that exclusivity can be communicated.
The second phase is to introduce things that may legitimately be described as uncommon and creative in nature. You also wish to make improvements to your present product catalog in order to better reflect your new premium positioning. This may include raising your pricing to compete with those of other premium companies. At the same time, this implies that everything that does not adhere to these guidelines will be discarded. And when I say everything, I really mean everything. Luxury has no tolerance for relationships with mediocre people or things.
Finally, you must restructure your marketing efforts. This discounted foolishness will not be tolerated any longer. It’s no longer necessary to compete with other brands directly. Finally, no more blathering on about the functionality of your product! You are now fully engaged in “social status” mode, and you must reinforce this at every point of contact with your company’s brand. This includes refraining from using Amazon FBA as a key method of increasing sales or even running extreme direct response Facebook advertisements.
In the event that you complete each stage perfectly, you will have effectively turned your standard brand into a luxury brand that is anchored by high-end items and promoted in a method that emphasizes status over functionality.