Premium products are products that are of a higher quality than standard products. They also come with a higher price tag. There’s a big difference between marketing standard products and premium products. This post details five important promotional tips to consider when selling premium products.
Emphasize quality over cost
Budget products typically center their marketing around how much money a customer can save. With premium products, it can sometimes be better to barely mention the price at all. Instead focus on the quality. This includes how it has been manufactured and the features that set it apart from more basic products.
Sell a better lifestyle
A popular and effective way to promote premium products is to market them as not just a product but as something that can improve one’s entire lifestyle. For example, a premium barbecue could allow you to cook like a professional griller and host the best summer parties. This is something you could emphasize with carefully staged photographs and video adverts that portray a luxurious lifestyle.
Target your marketing in the right places
Premium products are not aimed at your average consumer. They are typically aimed either at those with a lot of money or those who are collectors or experts in that field. For example, when marketing a premium pair of hiking boots, you want to focus on wealthy hikers or avid explorers/people who hike for a living. Targeting expensive homes in national parks with flyers, or getting your product reviewed on a mountain climbing news site could be examples of targeting your marketing in the right places.
Provide detailed product information
Consumers or premium products typically do not buy on impulse and are much more likely to compare other products and spend time doing research so that they can be sure their money is well spent. It’s essential therefore that you provide detailed product information when promoting a premium product – whether this is through a carefully rehearsed sales speech or through detailed product information on your website. Make sure that you are an expert on your product and that you can answer any questions that may be thrown at you. This knowledge and detail will build customers’ trust.
Offer flexible payment options
It is important to offer a variety of payment options when selling a premium product. Accepting credit card payments could be essential – you can learn how to set up online credit card processing here. Offering payment plans or finance could also be handy for those who may not be able to buy your product outright. These alternative payment options can make your product more affordable to the masses.
Throw in surprise freebies
It’s possible to make a high priced product seem like a better deal by throwing in a few freebies. This could include providing a free changing bag with a premium pram, or throwing in free bedsheets with a premium mattress. Just make sure to account for the cost of these ‘freebies’ when setting the price of your premium product.
Meg is an author at Cinnamon Hollow. She writes on a variety of topics sharing tips and ideas for daily life.