The Value of Luxury
“We see consumers as the ultimate experts on brand prestige and this year they are voting on the entire perceived price/value equation of the brand as well as prestige,” said Milton Pedraza, CEO of the Luxury Institute. Brand, quality, value, rarity all play a role in how we valuate prestige products and experiences. As everyone derives value differently, there are three main criteria that help us decide whether a luxury product or service is worth it:
Price Value – Deal-seekers
There is always a risk to integrity whenever a prestige brand discounts, says Milton Pedraza, CEO of the Luxury Institute. A discount suggests the original perceived value was too high and essentially, you were getting ripped off. Despite Pedraza’s foreboding, Guilt Groupe has grown by leaps and bounds by offering daily flash sales to its “exclusive” 2 million invite-only members. Gilt expects to pull in $500 million in revenue in 2010 and in 2009, just two years after its launch, it posted revenues of $170 million. To counter Pedraza’s point, even a 10 percent discount on $1,150 Jimmy Choo shoes ($1,035) is still not accessible for most.
Enduring Value – Artisan Craftsmanship
The economic recession has the luxury industry returning to its core: enduring quality. Hermes and Louis Vuitton have flourished amid harsh economic storms, while other, trendier fashion houses such as Christian Lacroix have gone belly-up. Hermès managed to increase sales by 8.5 percent, including an 11 percent bump in the final quarter and an astonishing 20 percent gain in the Americas. In fact, Louis Vuitton held an event called “The Art of Craftsmanship,” to educate young designers on the importance of old-fashioned values such as artisanship and the mastery of traditional skills at New York City’s Fashion Week.
Exclusive Value – Uniqueness
By economic standards, value is derived from supply, demand and barrier to entry. Short supply, high demand and high barrier to entry drives the luxury market. Accordingly, only a select few high net worth individuals can afford to buy a $1.42 million Lamborghini Reventon or even a $170 Gucci key ring. In fact, only 20 individuals own the Reventon, as they are so rare. Uniqueness not only applies to products, but experiences as well. Quintessentially and Artisans of Leisure Travel design custom vacation packages ranging from Indiana Jones-inspired adventure or an immersion in Turkey and Israeli cultures. For those high net worth individuals seeking exclusive value, very short supply weighs heavier…
To read more about the value of luxury, go to Sparxoo.com.
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Sparxoo is a business blog that inspires breakthrough by tomorrow’s leaders. We are a strategy consulting firm with a pulse on marketing, branding, and development.
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Generating 0nline Business Leads!
Generating leads is important when when it come to your online business. There are dozens of proven and innovative ways to generate leads for your online business. The good news is that many techniques for producing leads are low cost or even free.You want to use your money wisely when generating leads. With help of the internet and local resources, it has never been easier to run a successful online business.Learning how to choose your prospects will dramatically minimize your costs for sales and marketing. In this article, we will look at some ways to generate a lead and keep it on track.
Identify your target audience – It would be a waste of your financial resources to send out leads if you do not know exactly whom you want to target for your online business. It is best to write a simple paragraph describing who your ideal prospects are.Perhaps the easiest way to generate online leads is to provide an opt-in form. You must have an irresistible offer so people will come to your website and identify themselves.If a visitor looks at the information on your site and their interest is piqued, it is a natural next step for them to sign up to your email marketing list. And there you have it – a qualified lead.
Pre-qualify prospects carefully – how can you be sure you know who is a qualified customer or prospect? This person will have a need for what you are offering and will state this. They will be able to afford what you are selling and will be more than eager to buy it. Bottom line, if they do not have the product already they are probably buying it from one of your competitors so you want to draw them to your online business. You want to find out if they will make good customers. After you meet them, call them and talk to them. Have your list of pre-qualifying questions at hand so that if you get nervous you can stay on track and sound confident.
Create a referral program – Word of mouth is one of the best and quickest ways to build your clientele list. When you begin creating your referral program start by targeting those individuals you want to influence others and then they will send prospects to your business. Contact your influencers by phone or e-mail them! and make appointments to talk to them directly about your services. Personnel relationships with your influencers are important to building your contact list and generating online business.
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About the Author:
Randy Casados is the owner of http://www.BlandyPlugInProfit.com and reviews popular home business ideas and opportunities. Randy’s most popular home business recommendation is the Plug-In Profit Site at: blandypluginprofit where you can get your own money-making website setup in 24 hours!
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Internet Marketing Online -online
The substantial volumes of online data also compel online vendors to leverage on cost. The relative ease accorded by online shopping has allowed consumers to optimize their management of time. Numerous online vendors have adapted the online store and a novel online shopping experience as concepts on the new online age. An outcome of this occurrence is the birth of the terms “cyber shops, virtual shops, e-tail, and online shops” were brought forth. Physical vendors are pressured to cope or run the risk of being tagged obsolete. This resulted in the mushrooming of websites.
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A contemporary investigation conducted by the World Trade Organization has indicated that a specifically promising future is waiting for firms who are engaged in trading products and services through cyber trading. These encompass organizations that are into the sales of computer software, printed news, magazines, music, and film. Numerous industries, including brokerages, tourism, telecoms, and consumer / media advertising that are yielding the benefits of cyber trading. One overall international work of the industry has projected to attain a US$1 trillion value in 2003. Attributing to the high expenses of operating as a start-up business, difficulties in daily routines, uncompetitive volume of sales, cutthroat competitors, and unpredictability of the arena, Internet players in retail are starting to lose hope and to lose money.
1) Improve brand equity – The major dynamic to cyber buying for customers are security and trust elements. Online vendors should to solidify their brands so that products purchased from them are perceived as trustworthy.
2) Alliance partners – Alliances and networks are critical in the digital economy because of heightened efficiency for transactions and a variety of offerings to the company. Therefore, the addition of alliance partners expected to generate better performance of dot.com retailers is a priority area.
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3) Integrative advertising and promotions program – Vendors online must launch intensive marketing efforts to gain visibility. If possible, the online vendors involved in the study should to convey to customers their integrity, honesty and trustworthiness in all these online transactions. This will help address the doubt or uncertainty of online consumers to transact online because of trust issues. The use of banners may not be effective in encouraging customers to purchase online. In the cyber jungle banners are quickly implemented; however, they present low impact. People are inclined to shrug off these banners.
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Search Engine Optimisation – Let's Talk About Links
If you were to think of Search Engine Optimisation rankings as being the top of a three-legged stool, the three considerations (or legs) that would support the seat are: technical considerations(such as keyword density, meta-tags, mark-up), content considerations (keyword strategy, structure of content, synonyms, readability) and finally “expertness.”
Because search engines are all about delivering the most relevant results for specific search queries, they all look for signals of relevance, popularity, trust and expertness (or authority) amongst the pages in their indexes. Ensuring that your site is well optimised technically and in terms of content is an important part of SEO. However, in order for this stool to stand, it needs its third leg – its expert status.
But how do search engines decide which sites are experts in a particular subject area, and which are not?
When Google guys Larry Page and Sergey Brin began piecing together how hyperlinked documents (like the WWW) fit together, they developed PageRank. Effectively, PageRankmeasures the relative importance of a page or document within the set. While PageRank uses numerous variables to do this, one of the most important aspects of PageRank is that is looks at links. And indeed, where these links come from and where they go. Each link is seen as a “vote” or a citation for the page it’s linking to. So links from sites which are already seen as being an authority (like .edu or .gov top level domains), will count for more than links from a link directory.
Not all links are created equal. Some are more valuable than others, and certainly those that appear to be organic and natural are worth more than those gathered from link exchanges. And it’s not only the links into your site that matter, who you link to is also very important.
Within your site too, the way you link (and virtually silo related content) is an important part of your on-site SEO. You internal linking strategy should provide easy access to your content for your human visitors and search engines. Ensuring adequate linking to top-level pages also gives search engines a good indication of what your site is about as well as what’s important. It’s vitally important to pay attention to your links’ anchor text too. The anchor text of a link refers to the actual words that are hyperlinked, and these should contain keywords that describe the page to which they link.
To summarise, there are three types of links that you should be focusing on developing to boost your SEO performance: inbound links (from external sites), outbound links (it matters who you link to, experts link to experts!) and internal links.
Be wary of the company you keep, and develop links with relevant partners in the same or a related vertical to yourself.
Finally, try to encourage deep-linking to your site; don’t just build links to your homepage. Remember that natural links from within a site’s content are more valuable than links on a link-exchange page. Avoid link farms and paid links – it’s never worth it.
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About the Author:
AlterSage, a full service online marketing agency, offers tailored online marketing solutions that achieve targeted exposure for your website. Goal focussed and driven by return on investment, services include search engine optimisation, pay per click advertising, web design and development, persuasive web copywriting, brand building, conversion analysis and many more.
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How Webcasts can improve your marketing reach and reduce your costs -niche articles
The globalised internet economy has effectively reduced barriers to markets in all parts of the world. It is now possible to converse with partners, suppliers and customers seven days a week, 24 hours a day with practically no time and distance barriers.
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As a result conventional methods are no longer sufficient to reach potential customers. Companies must adapt their marketing methods to include communication tools, such as VOIP, opened up by the Internet.
One very powerfull method of reaching customers and prospects is organising regular Web Events in the form of live online presentations and seminars, also called Webcasts or Webinars.
With the technologies that are now available on the Internet, you are now able to present content in a compelling way by using audio, video, animation and graphics. This cannot be matched in any way by printed materials or a phone call.
The advantages are obvious. In comparison to Trade Shows, locally held Training Workshops and Seminars, a Webcast is set up in a shorter time span, with much less reliance on resources and manpower, resulting in a improved cost effectiveness.
By repeating the Webcast at various dates and times you also allow your prospects and customers to choose a presentation which can better fit their schedules. It will also allow you to reach more potential customers.
A positive side effect, is the use of audio and video recordings to enable you to reach other prospects once the Webcast has been held. By posting the recording on your website, you can further profit from the Webcast. For example, you can use it as an on-demand product to build an opt-in list, improve your customer service or even to generate an additional profit stream.
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Now consider the choice you offer your customers and propects. By just comparing having to travel to an event location and waste precious time in traveling, as opposed to attending a Webcast at your own PC, at a time they can choose, the latter choice wins everytime.
This means you are able to reach a targeted audience and interact with a maximum number of people regardless of time zone, location or other restrictions you would have, by traveling or meeting the person face to face. You are able to do this at a fraction of the cost that a normal event would incur.
At Conferentia, we use our VOIP Conference System to host regular Webcasts to show our prospects just how they can use Conferentia to do the same with their own products and services.
We have found that once the Webcast concept is set up, with a little practice, people easily slip into the role of moderator and presenter. Someone who is used to doing live presentations has no problem with the change to using Conferentia.
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