Link Love: Seductive Profit-Producing: How to Sell Your Product for 5x its Worth
Written on September 19, 2008 by Susan Payton
I came across this amazing post by John-Paul Micek about Jimmy Choo shoes, and how they justify charging $1200 per pair.
Here are a few of the things I picked up that should stimulate you to read it to see where your product fits in:
- For some products there is what Micek calls “tribal marketing.” There is likely a product you consume (or wear) that when you see someone else wearing/using it you think, “Aha! They’re in the know like me. They are a part of my tribe.” It might be Jimmy Choos, or in my case, New Balance shoes.
- Quality and price don’t always correspond. I can’t figure out any reason why Jimmy Choos would cost so much. And still look very uncomfortable. But there is a perception of value that tells people that they will have a certain experience if they are willing to pay for it.
- You create the perception value of your brand. If you want your makeup product to sell cheaply, package it and promote it as such. Or you can take that same brand and build it up into an experience that people are willing to pay 5x more for.
Go read his post and see what I mean.
It kind of reminds me of when I see certain ads for the “hottest” clothing and accessories. Often designers and manufacturers name drop which celebrity has it too.
‘If Sienna Miller has been seen with that handbag, you should too!’
Glad you enjoyed the article Susan and thanks for the review. You highlight some good points from the piece. Stay tuend for more on Tribal Marketing and Seduction.
btw — from what my wife, and my women friends and clients tell me; you can’t beat the comfort of Jimmy Choo pumps. Though probably not as comfortable as New Balance.
Very good piece Kirsty. The tribe and value proposition are what make it work.
Thanks for all the comments.
Carla– Celebrities are definitely tastemakers. Or salespeople. Depending on how you look at it.
John Paul–I’m thrilled you stopped by! I met Deb at BlogWorld. Maybe I’ll try Choos once I get another client or two!
Jonathan–Thanks for the comment…who’s Kirsty?
Susan
I never heard the term “Tribal Marketing” before. But, it makes sense, people love to be “in the know” and if wearing/buying a certain product does that for them, they will definately pull out their wallets. Interesting…
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