Social Media Marketing Business 2022 that finally converts into more sales.
My name is Mario Radosavljevic, and those who follow my YouTube channel know it already, but for those new here, let me introduce myself. I own 22 brands and 25 companies, mainly in the luxury and manufacturing sectors. One of my companies is since 2010 specialized in AI technology, and I am using it for my other businesses all day, every day.
Some niches have difficulty converting online sales, such as the luxury industry. No matter what brand it is, the shop experience was the dominant factor - until now. Let's dive in.
The Luxury segment is for pros only. You simply can't sell luxurious items if you are not consuming them yourself! How do you want to understand what a Rolex owner is looking for if you don't own a Rolex or similar yourself? You will be just guessing what they are looking for. There is nothing more annoying to these types of customers than unprofessional behavior in terms of understanding luxury items.
One of the biggest myths is that people with money don't care what it costs; as long as the service or product is great, they will pay any price. That is the biggest bullshit on planet earth! They come from where you are now and are still spinning every cent as you do and evaluate very carefully if this investment is worth it or not. People with money love money very very much, much more than most of you can imagine, so never underestimate this fact.
Very important to luxury buyers is, what will be the value of this specific item in the future? Not because I want to resell it, but I want to know, do I loose money or does it even grow its value over time? Rolex to stay on this example is a pure master by creating this scenario. These days its ZERO chance for you to walk into a Rolex Shop no matter in which city and simply buy a watch just because you can afford it. Nope, thats not how it works. You have to build relationship with a specific shop, not only the brand and buy whatever they put on the table. Once you have done this, you can then ask kindly for specific Rolex watches you would like to order. Scarcity is the magic word and obscene prices and if you may now say, screw them, well you can but there are millions of customers waiting in line to get whatever they offer them.
The Premium customer is totally different from the luxury customer, although he likes to see himself as equal. Believe me, it's not, and I will show you an example here so you will understand the difference.
Let's say the Premium customer wants to buy a Mercedes S-Class. He will ask, besides the features, what the car's consumption is and what the numbers look like compared with an Audi A8 and BMW 7-Series. Clear and understandable questions.
A luxury customer buying a Rolls-Royce would never ever ask such a question. Not because he is richer, but because these are not metrics that are deal breakers for him. The Rolls-Royce customer is more focused on his personal individualization and is willing to pay crazy amounts to represent him and his personality.
A Mercedes S-Class owner cannot individualize his car that extensively and wouldn't even if he could. The reason for this is that most of the time, the vehicle is financed, and even if not, the car's value will drop so significantly that the loss would be much more significant than it is already on a moderately equipped Mercedes S-Class. Such things are not important to a Rolls-Royce owner because you can also drive a 20-year-old Phantom, and you will still feel great and well dressed, which will not work that good in a BMW 7-Series or equal, isn't it?
These are products for monsters. 99% of them don't care what they buy as long as the deal is so good that it will trigger their killer instinct. Yes, of course, they also have their goals like the next Smart TV or whatever is not screwed to the floor, but honestly, watch some YouTube videos about Black Friday Sales in the US, and you will understand. Don't forget to bring some popcorn, because trust me; you will need it!
However, suppose you are targeting this customer. In that case, you have to ensure that your targeted audience is seeing your brand and your product all over the year, and don't forget to tell them that Black Friday is around the corner to prepare them for the sales. Heat them up so they can unload on Black Friday and buy the shit out of you.
Believe it or not, many brands focus only on this time of the year while they know that the rest of the year will have slow sales. But on the Black Friday sales, they will make a profit like full two years of regular sales.
It is all about the strategy and how to get your ideal customer. The Black Friday strategy quickly brings a crazy amount of money, but you need to have enough money on the side, so you don't drown over the year.
Home office sales are the new normal since 2020. The pandemic pushed this trend all over the world, and I personally enjoy it as well. It doesn't give me the hard hours in the office where I am permanently under fire. I can relax when I want and micro-manage my time according to my day.
However, the danger is that you don't push as hard as you would in the office, and I am sure you know what I mean. Too big is the temptation to watch another show on Netflix or similar.
Personally, I think that this is the future for SMEs, and that's why the strategy here is super important. Even more than on all the others together if you want to ensure that you will succeed and reach your goals.
B2B is the magic word. Find resellers that will represent your product or service on their soil and home market and create such a global network. It is precisely what I am doing, and I was able to generate a net income in 2021 of over 24 Million US Dollars.
Easier said than done. True. Getting B2B resellers is not as easy as it sounds. Nobody is willing to risk his reputation and client base on a product and brand with which he does not have experience and has never heard before. Especially in the beginning, you will see how hard it will be to get new B2B companies on board. I have experienced this on my own skin.
But before you get frustrated, use the newest way to get your ideal B2B reseller company with AWAI. It is an artificial intelligence that will identify and help you on this task. I wrote the code for it based on all my experience with my companies and based on the needs of the startups I financed over the years.
Let me know in the comment section if you have any questions. I will gladly help you guys with my expertise as a serial entrepreneur and private investor. Until then, I'll see you at the top!