What makes a premium brand? The question comes with an answer that varies depending on your industry, product and competitors, but in general, there’s a bunch of questions you can ask yourself or look to address if you want to elevate your brand. This article considers the why’s and how’s. First of all….

The why
Before we dive into this, let’s have a think about why you want to elevate your brand in the first place. The main reason we are approached by our clients to help push them up to that coveted premium status is for the perceived benefit of greater profit, in the form of being able to charge a greater premium for your product or service. This is, for the most part, true. Premium brands are just that: premium. They charge above the average market rate because their product is more valuable. What makes it more valuable, and how to get the customer to perceive it as more valuable, we’ll come to that. First of all though, have a think about why that’s something you want in the first place. There’s a lot to be said for both the lower and middle areas of the market, McDonalds and Primark are still making a killing after all, so first things first: before thinking about whether you could, think about whether you should.