What’s the main difference between a $10 purse and a $10,000 purse?
Updated: Apr 13, 2022
Let’s talk about Chanel yes?
Chanel has gorgeous bags that you can purchase used for a few thousand, or can buy straight from their website for many thousands of dollars.
How much does it actually cost to make one of these purses?
“The raw materials for producing a bag cost roughly about 40 dollars. The cost of labor or craftsmen is around 175 dollars as per market rates. The overhead cost adds up to 40 dollars. All this adds up and makes the bag about 285 dollars.”
The difference of this cost of about $285 to make a bag and the price of over $13,000 for a Chanel purse you can currently buy online?
If you are in the high ticket space, and you don't look like a million bucks, you are leaving tens-of-thousands, possibly hundreds or millions on the table because your branding is not helping you build trust.
One of the main things that great branding does is shorten the SpeedToTrust™.
The faster that a complete stranger trusts you, the sonner they’ll be willing to consider you as a possibility to buy from.
Now, if you do an amazing job of building trust, you’ll become the only solution in their eyes.
So a few questions for you:
How does your business online (and offline) presence look? Do you immediately look like the authority in your field? Or does your online presence look like a high schooler put it together or like it belongs back in 1997?
Do you have a complete branding kit that allows you to represent your brand with uniformity on all platforms?
Have you defined your branding voice and personality?
If you want to make sure your company brand is up to snuff, let’s chat!