14 Elements of a Premium Business

by Tiina Wilen

In our world, businesses are elegant. They produce services, products, and experiences that contribute to good living. Most of the businesses we work with are premium businesses and brands, offering exceptional value to their clients.

So what differentiates a premium business from a mainstream one? Here are 14 elements of a premium business.

Elements of a Premium Business
Elements of Premium a Business

The elements of a premium business

These elements are not in any particular order, but the order of implementation is, however, quite important. If you want to learn in which order to implement these elements, join our popular workshop!

Furthermore, each of these elements has an internal and an external focus. The internal implies what needs to happen in the business, while the external is about what the clients see and experience when the element is present.

Niche

Premium brands know their niche and stay true to it. They don’t offer everything to everyone but are laser-focused on their niche. The clients know they are experts in their niche and are drawn to them because they want to work with experts who know and understand their industry and specific needs.

Investment

Premium brands have premium pricing structures and they don’t negotiate their prices. They also invest in premium tools, consultants, marketing, branding, and experts.

Signature Client Experience

Premium brands have a well-defined signature client experience with delightful touches. They don’t see these touches as a cost but rather an investment in their brand. One of the delightful touches we help our clients implement is called the BODH – Box of Delight and Harvest, a simple but powerful touch that helps companies close deals at any time.

Processes

Premium brands have processes for everything they do. They don’t deviate from the processes, and they clearly communicate them to their clients already before the contract is signed. These processes make the clients trust that the company knows what they are doing, even if they have not been in business for a long time.

Intimacy

Premium brands add intimacy to their offers. They know their clients want personalized and focused attention, and they know exactly how to offer that without sacrificing their own growth and wellbeing.

Boundaries

Speaking of not sacrificing one’s wellbeing; premium brands set clear boundaries and communicate them with confidence. Rules are a key element of the premium business model. Their clients know not to send text messages on a Saturday morning, and they respect the company’s policies and non-negotiables.

Connections

Premium brands spend lots of resources to make important connections and their clients also enjoy these connections.

Brand Assets

Premium brands focus on creating assets that make the operations fluent and elegant. Their clients experience they always find all the information they need, and view the company as someone who cares about its reputation.

Automation

Premium brands invest in business process automation. They understand that all repetitive tasks can be systemized and many of them also automated. This shows the clients that the business is serious and aims for operational efficiency and profits.

Philosophy

All premium brands have their own core philosophy that they believe in. They attract people who also believe in the same philosophy.

POV

Just like the core philosophy, premium brands have a point of view that they are not afraid to share.

Category Changemaker

Premium brands have figured out what makes them different, and they communicate this difference all the time. Their clients are highly attracted to their differentiators, making the competition irrelevant.

Authority Builders

Premium brands have identified their authority builders and they use them effectively. Their clients see them as an authority in their category.

Message

Premium brands have identified and designed a specific message that they use in their marketing. Their clients know immediately whether they are the right company to solve their problems and desires.

Related Posts

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More