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Photovoltaics Masters Institute

Lesson 9

 Ferrari Among PV Systems! Premium Brand Building!

 “As in previous crises, also in the situation of COVID-19, the luxury goods market performed better than similar products in the mass segment and than the entire market.”*

The dream of almost every entrepreneur is to stand out on the market among high competitiveness. Building brand recognition, trust in it and the offered product, and the ability to freely propose a higher price without losing the interest of customers are just one of the few advantages of having a premium product.

Currently, almost all world markets are dominated by fierce competition. As a result, customers can freely choose solutions and products with almost identical functionality and quality offered by several or even a dozen or so suppliers. Such an overload makes customers more and more willing to use premium solutions that guarantee the quality of the goods or services provided, the certainty of professionalism of service and safety in situations requiring the use of a guarantee.

The Luxury Goods Market, Not Only Is It Growing Faster Every Time, It Is Also One Of The Most Crisis Resistant Markets!

The developing market of luxury goods is beneficial not only for buyers, but above all for entrepreneurs who manage to successfully build a premium brand. Because it gives a sense of security not only to customers, but also to sellers due to its exceptional resistance to crises.
Research shows that the luxury goods market is one of the most crisis-resistant markets. No wonder that more and more companies are trying to become a premium brand.

This is also true of the PV systems market. However, due to the fact that the photovoltaic industry is very different from other markets and this applies to almost all its aspects, the way of building a premium brand will also look different.

So how do you become a premium brand in the market for solar PV systems?

A premium brand is a guarantee of high quality in the first place, and only then a higher price!

Premium brands are characterized by a higher price. This is due to the guarantee of offering high-quality services. When setting the price, we should not be guided by the costs incurred by us, but should fixed it depending on the value of the product for the customer and what quality we are able to offer. By offering a higher price, at the same time, we must offer a higher quality of our services, because this is what a higher amount will be associated with. Customers are ready to pay more to gain confidence and guarantees of high quality and professionalism of the service provided. Do not be afraid to set a higher amount, but only if you are sure that you are offering a quality product, as this is the first step to building a luxury product and differentiating yourself from the competition. Take care not only of a good and attractive project for the customer, but also professional service for your customers, be always at your customers' disposal, treat them individually and make them feel most important to you or your salespeople. If you manage to achieve the high quality of the service offered, you can be convinced that most customers are willing to pay more than they could pay to the competition, because for a modern customer, a quality guarantee is the first thing they pay attention to.

A premium brand is a competitive advantage!

Many people, as a way of gaining a competitive advantage, will decide to reduce the price as much as possible. A much more effective strategy is to offer an amount slightly higher than other companies and thus become a company offering a premium product - a product of higher quality than the competition. However, you must remember to use this strategy to actually offer a top-shelf product! The quality must reflect the high price. If we offer low quality at a high price, we will lose customers very quickly.

A premium brand is a special way of treating a customer!

When deciding to offer a higher price at the beginning of talks with the client, we have a very effective pricing strategy at our disposal - a discount strategy. By offering the customer a special discount on the original price, we can give the impression that we treat him individually and personally, and the offer we present to him is not one of many, but a special offer prepared only for him. By making our potential client feel special, we can gain their sympathies, and this is a great competitive advantage

Premium Brands Are Much More Desired By Consumers And Chose More Often! Everything For The Quality Guarantee!

In theory, building a premium brand based on the high quality of the offered product, both from the technical and customer service side, would seem very simple. However, we need data on our customers, the number of closed deals, prices and discounts that were offered for each successful and unsuccessful sale.
By using programs that have Artificial Intelligence Algorithms implemented, we can obtain a deep analysis of such data and on their basis determine the best pricing strategy.

Thanks to such analysis, you are ready to gradually introduce changes towards becoming a premium brand, constantly controlling all the changes made and their impact on your customers and the success of the transaction. So you will be able, in practice, to watch your company transform into a premium brand step by step.

The program focusing on deep data analysis is EasySolar, with very extensive Artificial Intelligence Algorithms that constantly analyze the entire sale, along with all variable factors that may affect the success or failure of the transaction, including price and discounts.

Using the EasySolar system for in-depth analysis, you have at your disposal:

Extensive statistics,

that will help you have constant control over all variables and react quickly to changes.

Artificial intelligence,

which constantly analyzes the work of your team and sales, determines, on the basis of all factors and changes, the most common and effective sales path in your company, including the best pricing strategy.

Deep Sales Process Analysis,

thanks to which you will find out how even the smallest change in a given factor in the sales process affects conversion rates, it may be, for example, offering smaller discounts, because you know exactly how individual actions affect the customer's decisions.

Check the full power of the principles of the Photovoltaic Masters Institute in practice with EasySolar App.