By skyforbes 
Here are the 5 characteristics of luxury brands that you can apply to your own brand:
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A luxury brand is exclusive and usually has natural scarcity
Exclusivity means they are not available to everyone. It makes the clients feel special, unique, accomplished and even rewarded for their success. Because the high-end clients long to differentiate themselves.
I work with my clients to incorporate “exclusivity” into their brand. For example, when you think of a luxury brand, the goods or services are usually handcrafted, expensive to afford, or limited in edition. For those of you who are coaches, you can set the criteria regarding the clients you want to work with, limit the number of clients you work with or limit your 1- on-1 time with clients.
2. A luxury brand has an emotional connection to its clients
Do you know the #1 reason people buy luxury goods? It’s not because of the superior design or craftsmanship. It’s the emotional reason. People want to reward themselves and show they “made it”.
I work with my clients to find the emotional reasons people invest in working with you. You might be selling a feeling, an experience, or a cause. An emotional connection to the clients distances a luxury brand from mass-market brands. It causes a subconscious response that is beyond our cognitive brain. It makes your high-end clients have a profound connection to your brand and brand story.
3. A luxury brand portrays quality in design and performs at an experiential level
Timeless swirls, dynamic hues and precise detail. It lives in an environment of detail and performs at an experiential level – store or website experience is detailed and unique.
Think of Dior House and their haute couture, the details, the quality, the customised service…
From their designs, to the elegant details they integrate in their collections, the brand always has their high-end clientele coming back for more. Look at your business as a pursuit of excellence in every sense of the word–production, knowledge, customer service. Your high-end clients can tell the difference from the details.
Your online presence is your haute couture show; your personal branding is that haute couture attire. Does your online presence reflect the luxury icon you are?
4. A luxury brand has a high perceived value and corresponding pricing
An unusual phenomenon occurs – demand can increase when the price increases. It’s called a Veblen good. A Veblen good is a type of luxury good for which the demand increases as the price increases, in apparent contradiction of the law of demand.
People associate price with quality. For example, think about where would you go if you’re shopping by price only? If you’re shopping for style, quality, and service? And if you’re shopping for luxury and prestige? Your mind automatically ranks different brands.
Pricing is an art and I guide my clients to create high-perceived value and pricing that aligns with their brand positioning. You can make your own services or products become more desirable at higher prices.
5. A luxury brand is associated with PR, media, celebrities, and leaders
You don’t have to partner with a celebrity to become a luxury brand, but you do have to consider who you are partnering with, your media appearance, your social media, etc. What do you see when you google yourself or your brand name online?
Also, customer reviews, client case studies and testimonials are one of the most powerful sections on your website to increase your brand credibility and establish yourself as the expert.
In conclusion
Luxury is a state of elegance. It is something that is considered to be expensive, rare, and highly desirable, meets the highest standards of quality, craftsmanship, and design, and is often associated with status and social prestige.
Ultimately, the perception of “luxury” hinges on the extent to which a client’s connection with a luxury brand evokes feelings of luxury.
Luxury brand, it’s very you. I believe there’s a luxury brand in you. If you are ready to stand out as a premium or luxury coach or expert, uplevel your online presence to a luxury level, elevate your brand image, and become the go-to luxury brand for your dream clients, I invite you to a luxury brand discovery call with me and map out your luxe plan.