What is a premium brand?

Premium brands have customers traveling further, paying more and giving greater consideration to acquire them.

People will travel further, pay more and give greater consideration to brands considered premium. Like my Grandmom McMenamin would always say: “long after the price is forgotten, the quality remains”.

I bought these socks in late November 1997. These thick winter socks cost some bucks back then but I needed warm feet for a cold 5th anniversary getaway weekend to coastal Cape May NJ.  I still have them, still wear them for cold Penn State tailgates and they’re still in like-new condition. My kids are 27 and 25; these socks are almost as old and almost as high-quality as Patrick and Emma. I’d say the socks fit the definition of premier.

Do you want to build a premium personal brand? Do you want to build a premium product or service brand? Do these things:

  • Know your target audience. Understand their functional and emotional pain points.
  • Identify their unmet needs or, better yet, interpret their unarticulated needs.
  • Consider your target audience’s other choices and what those choices offer.
  • Then, build a brand that is markedly relevant, different and better than others.
  • Don’t sell yourself short. Know your worth, don’t discount your value and sell to those who’ll appreciate what you deliver.

Whether you’re in sales or marketing or product development and looking to sell more at higher margin…or someone looking for that next great thing in your career…building a premium brand means doing more of challenging status quo and being different and doing less of “me too” crowd-following.