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Season 4 Episode 20: How to Have a Lambo Mindset to Create a Premium Experience for Your Customers

Transcript:

Let’s go. Hello my loves. I am so glad to be here with you today. So thank you so much for joining me. This this topic has been in my head for a while and I wasn’t really sure how to tackle it without sounding like a douchebag. So the title of this is called How to have a Lambo Mindset. And Lambo is short for Lamborghini, which already you’re probably just rolling your eyes. But the reason that I wanted to call this out specifically is I heard this and I don’t know if it’s true, but it made me think it’s pretty cool.

[00:01:51.570]I heard this thing that Lamborghini had said, like someone had asked their marketing department, well, why don’t you ever do commercials or why don’t you advertise on TV? And their response was incredibly simplistic and so effective. The response was, our customers don’t watch TV looking for cars. And again, I don’t know if that’s true. And that is definitely a paraphrased version. But when I heard that, I was like, that is so smart and such a good understanding of who their ideal customer is and how they should be targeting them.

[00:02:33.600]So that’s what this Lambo mindset is that I want to talk about today. It’s not about, you know, toxic positivity or all of these crazy, crazy things that people say, like I’m making a million dollars because I said I am and that’s my mindset. And it’s not actually true. Like, no, I actually mean how to think about the way you target your customer and is it effective? How can you start understanding who your ideal client is and who your ideal client isn’t?

[00:03:10.590]So that’s what I’m thinking when I’m saying how to have a limo or a Lamborghini mindset. So let me talk about how luxury brands will often market their products. And if you don’t have a luxury product, you’re not in the premium pricing. That’s OK. I want you to understand how these multibillion dollar companies that appeal to a very particular demographic work and see if you can cultivate that into your own marketing. Again, you don’t have to have premium pricing to utilize these strategies, but it’s a good way.

[00:03:50.070]It’s a good lens to look through, if that makes sense. So the first way to change your idea about marketing and effectively target the right people is negative keywords. Now, if you haven’t heard of that, negative keywords are things you want Google or Bing to avoid, including in search results. So let’s say. Let’s say that you I don’t know, I should have thought this through earlier, let’s say that you target millennial women, but you do not target parents for whatever reason.

[00:04:38.360]So negative keywords that you would include in your marketing and advertising strategy would be things that have to do with parenting. So parenting mommies, mompreneur, I don’t know. I don’t have kids, you know, trying to say if you had a pet brand and you wanted to launch your new dog product, negative keywords would be about cats or about guinea pigs or hamsters, like all of the things that this is not for. That’s what negative keywords are.

[00:05:16.880]And that’s. In my opinion, something that is equally as important in a marketing strategy as the words you’re using to target, I think that negative keywords are something that people avoid because it’s it’s a lot of extra work. I won’t lie about that. And it’s something that you don’t know a lot about until you actually start doing it. Do you know what I mean? It’s not about figuring out how to. Say yes to people, it’s also about figuring out how to say no to people and being comfortable with that.

[00:05:56.890]So I know that that is something that is a painful point to do it in your business. But it is so effective and it is something that premium brands absolutely utilize. There’s this trope that I knew, and again, I don’t know how true this is, so let’s just not hold Megan accountable for libel or slander. But I heard that Tommy Hilfiger, you know, they were a huge brand in the 90s and they were pretty pissed about the demographic that was utilizing them like they were.

[00:06:38.630]Oh, God, they were pissed that, you know, they were they were wanting to target themselves as some sort of, like yacht. Harvard Winklevoss sort of brand, and instead they began to attract gangster rappers and oh, God, this is going to be urban, a more urban demographic. And I hate that phrase, but that’s just what I read. And they were pissed because it showed that not only were they marketing, were their marketing strategies not hitting the people that they wanted to hit, their marketing strategies were speaking a completely different language than they anticipated.

[00:07:24.000]And if they were appealing to the quote unquote wrong people, which is bullshit, but here we are, then that’s their fault and that’s not the customer’s fault. So when you have a more effective strategy like brands that don’t even advertise the way Gucci or Louis Vuitton or things like that do those those brands that are so obscure to us poor people ad that you just don’t even know what they are like. Those are the ones that are doing the best marketing because they are specifically saying this is who we are, this is who we target, and we’re going to do our research and be exclusive and say this is not who we’re looking for in our ideal brand.

[00:08:16.890]That may sound really elitist and it is, but it’s also a very effective way to.

[00:09:21.630]To cut down your marketing costs and cut down your advertising costs, so consider thinking about not only how are you representing yourself and your brand in your ideal customer base, but how are you also freeing up your time, your money, your effort by pushing the people who don’t want to work with away? Does that make sense? The next is something that I’m sure you’ve heard of or maybe you’ve experienced in your life is premium brands will offer a more personalized bespoke experience.

[00:10:03.450]And if you’ve been to Barneys, if you’ve heard about Barneys, I’ve never actually been to Barneys, but I heard all about how amazing they were with just their return policies. They were super generous. The experience that you had going into their stores, you know, they would tailor that experience to what you were looking for and how they could help you. I know Chanel does that when you go into a store, Dior, Christian Dior, do you does that as well.

[00:10:30.840]And the reason that that is so effective is because it makes people feel special. It makes them feel unique. It makes them feel appreciated and that’s what drives the money, you know. People who are in a higher echelon is this is broad strokes, so forgive me, people that are in a higher echelon, like the top one percent and things like that are not buying the everyday experience there, including there. How do I say it? They’re making they’re investing in products that are tailored to them and experiences that make them feel valued.

[00:11:18.800]They’re willing to pay more for that experience. Think about people who start working their way up the airplane seating chart. They’ll start in cheapest. I don’t care where you sit me. And then they go to economy and then economy plus and then first class. And then if they’re incredibly successful, private, and they just start upgrading their experience in the same flight that everyone else is in. But their experience is so much different the more they’re willing to invest in that.

[00:11:53.450]And I think that a lot of new brands that I have dealt with shy away from this. They feel like, well, I don’t know how to do that. I don’t know how to make to personalize an experience. I’m running an e-commerce site. I don’t know how to do that. And it’s not about thinking there are apps and things you can use to tailor tailor a landing page unless there’s one and there’s a bunch of them. But that’s not the point I’m trying to make.

[00:12:22.220]The point I’m trying to make is even if you have a website, e-commerce, a Shopify, whatever, that you cannot individually tailor, that doesn’t mean you can’t offer an upgraded experience to bring the right people to you. Think about what you could do to your ideal demographic, for your ideal demographic that makes them feel special, that makes them feel wanted. If you have a e commerce brand and you’re selling physical products, would your customer like gift wrapping?

[00:13:00.500]Would they like a gift box? How much would it be to include a gift box in your product? You can build that into your costs. You can also increase your pricing because you are increasing the experience. You’re giving them an upgraded free gift wrapping, complimentary gift wrapping. If you want to be really fancy experience that if this is the right thing that your ideal client wants, they’re willing to pay for. So when you’re looking at how to have a more premium experience and drive more sales and increase your pricing, think about the ways that you can increase the bespoke experience that makes people feel special or unique.

[00:13:44.510]The last thing I’m going to talk about is something that I I don’t know if you’ve noticed this about me, but I start arguing with myself or prefacing everything I say ahead of time. It’s just as quick I have. I can’t help myself. But there’s a topic that I’m going to do a deep dove on in a couple of weeks. That is the different marketing. Strategies you can use for your business, I think that a lot of people are sold on the pain, agitation, solution thing, like let’s talk about the pain point that you have and how that makes you feel.

[00:14:23.640]And I can help you with that. Let me show you the ways. And that’s a very effective strategy. But there are other ways to do it as well. There’s a couple of different strategies called the bridge sequence. And again, we’ll get into these more because they require, honestly, their own episode. This would get like really super long podcast for you. But think about the ways that you sell your brand in your product, copy in your marketing copy, advertising descriptions, social media.

[00:15:03.600]I bet you were trained to do a pinpoint and talk about how you deliver solutions to remove that pain point. I’ve been I’ve done that myself. Like, that was something that I was taught and it worked. It was effective. But I think that it’s used so often that it really doesn’t. It’s sort of like people have their blinders up now and they don’t want to hear the same thing over and over again. They don’t want pain, agitate solution.

[00:15:37.290]They’re used to it. And it puts up their blinders, especially if they’re in a market like if you’re a business coach or you sell to other businesses or other entrepreneurs. They’ve heard this. They’ve heard Amy Porterfield talk about it. They’ve heard Tim Ferris talk about it like they know what that is and. In a way, they’re jaded by it, and so something that I really want to explore with you is, is that pain agitate solution selling copy actually working for you or should you look into a different marketing strategy?

[00:16:19.240]Now, there are like I said, there are a couple. But once I want you to look into I’m going to give you homework is the bridge solution. And ADA ADA stands for Attention, Interest, Desire, Action. These different formulas might be the difference in your sales from. Yeah, I’ve heard that before too. This is new and this is interesting. This is bespoke. This is unique. This is something I want to pay attention to.

[00:16:54.580]So those are my quick tips for you about how to create a better premium experience for your customer and have a better mentality about how you’re going to reach your customer and how you’re going to get that perfect customer that buys from you for life, becomes your ride or die fan and just moves that needle for you so that you can help you can expand your business. So I hope that was helpful. If I you’re going to see if you’re subscribed to this, which I hope you are.

[00:17:25.570]Please subscribe to the podcast you’re going to see every week. We’re going to launch a new episode. Day, but it will be episodes from my archives of the past four seasons, incredible interviews, lessons I’ve learned, things I want to talk about. We’re going to start adding those two because there’s some really good gems in there. There’s some shitty ones, too. It’s a mixed bag, you know, so we’re going to start adding those. And so if you subscribe, you’re going to see a pop up on I think we’re going to do Sundays.

[00:18:01.150]We’re still kind of working out the details on that of something from the archives that I felt was really beneficial, influential and kicked ass. And I want you to hear it if you haven’t. So that’s what we’re going to give a shot. See how that goes. I’d love to know what you think about it. You can tweet me at Megan plus coffee or shoot me an email. Just go to meganbrame.com. You can get all my contact information there and let me know.

[00:18:28.810]But otherwise, I hope it’s helpful for you. Hope this was helpful for you. And I will talk to you next week. Until then.

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