Could you use a Rolls Royce Marketing Strategy?

One marketing strategy you may want to consider trying is what we call a ‘Rolls Royce Marketing Strategy’.

With this strategy, you position your business, product or service as being like a Rolls Royce.

In other words what you offer is expensive, exclusive and very, very good.

There are many ways you could use a Rolls Royce Marketing Strategy in your business.

One of these ways is to charge a premium price and create a unique ‘experience’ around what you sell.

There is a good example of this in the book ‘Business Coaching’ by Steve Chandler and Sam Beckford.

Steve and Sam gave an interesting example of a business offering cheap lubes.

This type of business would normally run an advertisement in the local paper that reads something like this…

————————————————————————————————
Lube Master
Winter Special
Oil Change $19.95
Expires December 31
536 Smith Street
Mon-Sat 9-6
Phone 555-1234
————————————————————————————————

The problem with this ad is that people can get their oil changed anywhere.

So a cheap oil change is nothing special.

But even if this ad actually gets a response, you will have attracted a price shopper.

And then you will have the impossible task of getting them to come back and pay regular price for future services. Good luck with that!

So how could you charge more money and offer a special experience?

As Steve and Sam explain…

Take some time and think about your ideal customer for this type of business.

What does someone with a car want more than just a cheap oil change?

There are two answers here (1) time and (2) convenience!

Remember this: Time is the new money.

According to the latest income surveys, 20 percent of the population controls 47 percent of the disposable income.

That means one out of five people have so much money to buy things with, that, relatively speaking, they’re not
concerned about the price at all.

These 20 percent are your ideal customers!

They will give you good profits margins and can become part of a loyal database of lifelong repeat customers.

So, here’s an ad that reinvents the cheap oil change and attracts a totally different customer:

———————————————————————————————–
Too Busy to Change Your Oil?

We’ll pick your car up, change the oil, and we’ll clean it and drop it off to your home or office with your favourite Starbucks beverage!
Lube Master-Executive Valet
555-2345
————————————————————————————————

Who will this ad attract?

Someone who is more concerned about time than money.

Someone who sees the time spent waiting for his or her car as billable hours down the drain. Someone who wants
to golf or play with his or her kids on the weekend, rather than running errands.

That’s your ideal customer!

Notice that you don’t mention price in this ad however you do talk about the interesting experience that comes with
this service. (Having your car picked up, dropped back, cleaned and delivered with your favourite coffee etc.)

This is an interesting way to use a Rolls Royce type marketing strategy in a very normal business.

A Rolls Royce Marketing Strategy is something that miht be worth testing in your business as well.

Action Exercise:

How could you use a Rolls Royce Marketing Strategy in your business?

Today’s quote: “Price is what you pay and value is what you get.” –Warren Buffett