You Know You Want Me

If you offer an upscale product or service, you probably have "aspirational" customers who take a mix-and-match approach to luxury goods. In an article at MarketingProfs, Suzanne Hader describes some typical personas: "[T]he affluent stay-at-home mom who plans five-star vacations and Target shopping trips with equal enthusiasm; the student who gives up daily Frappuccinos to save $200 for a pair of jeans; the bartender who won't settle for less than $300 sunglasses but lives in a spartan studio apartment."

"Companies that want to continue to profit from aspirational customers must make their brands accessible and relevant to them by taking their lifestyles into consideration and meeting them half way," she says. Here are a few of her suggestions:

Offer customer service that goes above and beyond. Aspirational shoppers expect to be treated well. Remarkable service not only reinforces their belief that they made a smart choice, it keeps them coming back.

Don't cheapen your brand. Clearly distinguish lower-cost collections from your premium lines, and always keep their price points at the top of a product's category. "Chanel offers makeup and perfume to give customers a taste of glamour for less than $50," notes Hader, "but within cosmetics its pricing keeps it solidly in the prestige realm."

Cultivate a sense of exclusivity. "Use online channels to offer very small amounts of stock via micro-specials—some lasting only a lunch break—to encourage high-volume stampedes."

The Po!nt: Says Hader, "Marketers who understand what the aspirational customer wants—and work hard to provide it—will be rewarded with fiercely loyal, responsive, and profitable repeat purchasers."

Source: MarketingProfs. Click here for the full article.

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