Previously, we talked about strategies to make your brand more recognizable. Once you have become the master of your own identity, the possibilities for growth may be unlimited.
However, another imperative part of brand development is creation of demand and the establishment of an unmatchable product loyalty that will take your vision to the next level.
When you are first starting out, it can be tempting to grasp at the attention of any individual who shows interest. Let’s face it, when the focus is financial independence, it is hard to be picky about who is paying you as long as…well, they are paying you. Making money is a strong motivator, but if it becomes your sole purpose for existing, it can also be your kryptonite. Many entrepreneurs before you have had initial success because of their drive to obtain sales above all else. These same companies eventually dwindled and died because they were beat out by the “next big things.” Trendy consumers, who only buy into the most recent fads, have fluctuating value systems that make them less than ideal for establishing brand loyalty. Instead of growing your company off of this fickle consumer market, with a little patience you can grow a reliable fan base that supports your business over the long term.
The “Red Rope” Model
Envision this: you’ve opened a hot new dinner club on a popular block and Friday night is your grand opening. Instead of swinging open your doors and inviting the general public to come and experience your first night, you send out invitations to the most popular, influential individuals in the entire city. Rather than packing the club from wall to wall, you have a very exclusive party that is limited to a select number of people. These people are given celebrity treatment, free drinks, and party favours in exchange for their endorsement. Instead of making money that night, you actually spend money opening your venue. All the other club managers think you’re crazy, and the gossip around the community begins to spread. Then a funny thing happens; the next weekend comes and people are lined up around the block to enter your club. There is a viral buzz going around about this exclusive new hot spot.
This model of exclusivity can be applied to your business marketing in order to target your demographic more specifically. Instead of making your products and services available to “just anyone,” you can turn them into a status symbol by exercising a little bit of restrictive marketing.
Instead of flailing about grasping for the attention of any consumer, you can strategically pick and choose the type of consumer you want to have access to your product, and by doing so create an interest and demand for your product because it makes a person part of something special and selective.
Read ideas on Giving Your Clients A Brand Experience.