The Benefits of Brand Exclusivity

Fostering brand exclusivity will do more to increase brand perception and a loyal customer base than following an outdated marketing plan year after year.

How to create demand for your product isn’t always obvious. Even if you develop the most amazing product, people won’t know how much they need it until you tell them. But don’t tell everyone.

When you’re about to launch your B2B venture, it can be tempting to grab hold of any prospect who shows interest. It’s hard to be picky about who is paying you when you have investors to answer to and bills to pay. Making money is a strong motivator, but if it becomes your sole drive, it can also be your kryptonite.

Sales alone can only take you so far

Some entrepreneurs succeed initially because of their drive to obtain sales above all else, only to eventually fail when they are beaten out by the next big thing or a lower price offer. Why might this happen?

Trends

A new product may attract trendy consumers who only buy into the most recent fads but don’t stick around long-term. They often have fluctuating value systems that make them less than ideal for establishing brand loyalty. If your brand isn’t exclusive or trendy enough for them, you’ll see it in your decreasing revenue.

Price

Customers who only care about the lowest prices tend to lack brand loyalty for products that seem standard. They might stick around if the offer is good enough—at least until a cheaper alternative is available. Of course, there are many business and pricing models—some specifically targeting these customers—and their marketing programs are adapted accordingly.

However, consider an alternative approach if your business and pricing models require long-term client relationships for maximum growth. Instead of desperately accepting all requests for services that come your way, your sales team may get better results by focusing on ideal customers who will support your business over the long term with repeat purchases, upgrades and referrals.

The velvet rope strategy

In the nightclub scene, the red velvet rope indicates exclusivity, luxury and glamour. Often, there are multiple areas cordoned off from the masses. These inspire a desire to be a part of the exclusive party for the celebrity treatment.

In B2B marketing, the velvet rope strategy functions in much the same way. Brand exclusivity can be applied to your business marketing 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 bit of restrictive marketing. This approach can come to life with on-target brand storytelling.

Why focus on brand exclusivity?

Being an insider, getting in on the ground floor or snapping up a limited edition (have you heard about the Stanley cup craze?) all make people feel special. These offers create a sense of urgency and specialness. They are the first to know what you’re offering and the first to try it out. And, if they like it, they’re the first to tell their friends and networks how great their experience was.

Ways to implement a brand exclusivity strategy

One of the simplest ways to create an exclusive community is to have a paid membership with access to bonuses or premium content. Think Amazon Prime or tiered SaaS plans.

Limiting quantities or availability is another excellent way to inspire urgency and create a demand for your product. Creating a waiting list ensures you can build anticipation with sneak peeks and big reveals while it’s off your menu of services.

Establish your product as an elite service, high-quality, big-ticket offer, and you’ll see results. People tend to think higher-priced items are more luxurious or better quality. Don’t make the mistake of undervaluing your brand if it truly is worthy.

Getting started

Not all of these methods will work for every business. Experience with tracking marketing analytics and examining them to accurately measure your campaign success is critical to your brand exclusivity strategy.

Brand exclusivity of exceptional products or services establishes a community of loyal fans who become brand ambassadors and repeat customers. Need help nurturing your loyal customers and developing your brand exclusivity strategy? Book a one-to-one consultation today.