Key Questions To Ask When Serving The Luxury Market

This past week, I had the good fortune to present my talk, Sell to the Rich to an audience of highly accomplished interior designers at an event in Carlsbad, CA. There were many terrific questions about working with the luxury market in a Q&A, while on a panel, and throughout the weekend. I thought I'd share some of the most compelling questions that you may have on your mind as well.

Q: If you don't come from their world, how can you relate to one another?

First of all, when you serve the luxury buyer, your lifestyle is probably nothing like your clients. But you don't aspire it to be. You stay singularly focused on doing a great job, serving them, providing a great experience, and being an exceptional person to work with. They respect ambition and most care very little, if at all, where you came from or how you live. I know many concierges at the most exclusive hotels in NYC who are highly respected, the epitome of elegance and grace, and at the end of the day or night, leave their fabulous hotels and return home to their humble, albeit expensive, apartment in NYC. There were many times I had to crawl under dining room tables or make silly farm animal noises to get the attention of the children I was photographing. It's about being fully present in their service and delivering on what you are there to do for them. There's no room or any need for pretentiousness. Pretentiousness doesn't impress. Results do.

Q: How do you go about pricing your services in the luxury market?

Pricing in the luxury market is vague. Discount brands focus on dollars and cents. The luxury market wants clear, rounded off, numbers. So, $500 instead of $499. You're not kidding them with that $1 off discount. Don't nickel and dime. You're also pricing for perception. You must price according to the quality you deliver but you also want to be perceived as quality and high-end so you must price your services and goods accordingly. The luxury market doesn't mind spending the money but they don't want it to cost more so beware of any menial costs that might feel like a "tax." For example, if your service requires travel, perhaps work it into the price overall or a flat travel fee rather than reimbursement for flight, hotel, stipend, etc. Also, price for what you want to do. For example, if you want to travel for your services, request a minimum to make it worth your time instead of costing the client more to hire you than someone local. Otherwise, why wouldn't they just hire local? And you lose out on doing what you want to do. Again, the luxury buyer doesn't mind paying for what they want, but they don't want it to cost more than it needs to.

Q: How did you get started and break through to the luxury market?

I was focused on one thing. Let as many of the right people know that I existed without asking for a thing. As an aspiring portrait photographer, I would stop by the most exclusive children's clothing boutiques, visit the shoe stores and toy stores that were known to serve an upscale clientele, and frequented exclusive country clubs. All to introduce myself to store owners and club managers. I always made it clear I just wanted them to know I existed and leave a business card. No ask of them. Not even to be a source of referral. But inevitably, I would come to mind when one of their customers or club members asked for services that I provided or if they chose to suggest it. This simple, cost-free initiative in the beginning was the source of many terrific relationships that became constant sources of referral. The key was not asking anything of anyone. Just simply wanted them to know I existed. My favorite story of this idea is when I stopped by an exclusive children's boutique in Greenwich, CT. Once I began to chat with the store owner, she introduced herself as Suzie Hilfiger. At some point she mentioned her husband designed clothes. This was way before her soon-to-be-famous husband was even known. Suzie went on to become one of the most influential people in my career, introducing me to many terrific families. All because I made sure she knew I, and the portrait photography services I provided, existed.

If I were to summarize the common thread in these answers, they all have to do with being present. Fully present in service and not letting anything cloud the act of service and what you are there to accomplish. Not pretentiousness, not silly pricing, and cutting straight through to the best possible connections.

What's your Diamond Edge? If you have a story or an example of exceptional service, customer relationships, or luxury marketing, comment on this newsletter. You just might get invited to be a guest on my podcast!

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Diamond Edge- Sharp, precise, intentional, and cuts through. All necessary elements to be exceptional in business.

Few people can speak about the luxury market and high-standard customer service better than Jeffrey Shaw. Having been a preeminent portrait photographer in the U.S. for 40 years serving the most discerning clientele, as Jeffrey says, "I don't just know this market, I was in their closets."

A speaker who lights up an audience with innovative marketing and branding ideas, offering a whole new perspective on common business themes to motivate business owners and luxury brands to implement proven strategies, grow their businesses, and raise the bar on the impact of business in the world.

The author of LINGO and The Self-Employed Life, a TEDx speaker featured on TED.com, host of the popular podcast, The Self-Employed Life, and Founder of The Self-Employed Business Institute.

For more information about Keynotes, Coaching, Luxury Marketing, and my year-long High Achievers Mastermind- www.jeffreyshaw.com