Whether it's the latest pair of Nike kicks, or a classic Chanel quilted chain bag, let's be honest:
A lot of products in this world sell for a lot more than the cost of the materials, labor, and logistics involved with producing, distributing, and selling them.
As you can imagine, designer handbags are a fantastic example of this effect.
Women at all income ranges, from broke college students to affluent white collar professionals, drop four figures on things like Louis Vuitton bags.
In a recent blog post, affiliate marketing guru Charles Ngo approaches this phenomenon.
Why, exactly, would a broke college student, working her way through school at a low-paying retail job, want to save up money to buy a $1200 handbag?
When asked, people cite things like craftsmanship and the quality of the materials.
But that's actually not the real reason.
It's far more subtle than that.
It's all about branding, on a very deep psychological and sociological level.
People buy brands.
And a brand is more like a set of concepts and ideas, something hard to pin down precisely, but with a lot of depth.
The REAL Business of Business
Businesses never really sell products.
They sell outcomes and emotions.
There’s who your customer is now aka the before state.
Your goal is to sell them a promise to help them get into an after state.
We all have an identity that we’re striving for.
We want to feel a certain way about ourselves.
We want people to view us in a certain way.
She wanted to feel rich. She wanted people to view her as being wealthy too.
In her mind…a rich woman would carry a luxury handbag.
If she had that bag, then her status would increase. Maybe people would view and treat her differently.
There are so many examples of this playing out besides handbags.
How to Implement This In Your Campaigns
If you’re promoting weight loss stuff, it’s gonna be obvious.
Before = shunned by society, single, feel guilty, insecure
After = heads turning to check you out, fun dating life, confident, better opportunities
You can really sell the story in your landing page copy.
People don’t really care how it works. People care about the feelings the product can give.
But you can do this for EVERY product/service you sell online.
You can check out the full post at Charles Ngo's blog for tons of actionable advice on how to leverage the psychology of branding for your own business.
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