3 Lessons on Marketing from the Designer Toy Market
These pieces of plastic sell for $100-400+ 💰
If you’re KAWS your stuff is worth thousands. 😱
They're called designer toys, art sculptures or art toys (for adults).
And there is a lot that creatives can take away from how they are marketed and sold.
But hang on,
It’s all the same plastic right? The designs are all pretty cool. Why are they worth so much more than my he-man toy? 🤔
Here’s why.
Scarcity. 🌟
Toy Designers use Scarcity, each toy as a limited run of 100 right? Once they’re gone they’re gone. So you have to buy one now or miss out.
Plus you have to actually go into a ‘lottery’ just to get the chance to buy one. 🎟️
Designers could use this idea by letting clients know they have only a limited amount of time for new clients, that they are booked up until a certain point, or by creating limited offers to get clients off the fence.
Remember, there are 100s of clients, and only one of you, if you handle each client call right, you’ll position yourself as that rare KAWS toy that everyone wants.
Charge more = more perceived value. 💸
If you charge more for your services you are perceived to be more valuable.
Ever wonder why the 💩 clients who don’t pay you bugger all are the hardest to deal with?
They don’t respect the result.
They don’t respect you or your process.
Designer toy makers know the ‘perceived value’ of a Ron English MC Supersized Grin! Is worth 10x the $20 odd dollars it cost to make each one.
By charging $400 the item is perceived to be worth more.
Build Your Brand and Be Consistent. 🏗️
Designer toy makers work damn hard for years to get into a very niche and very small market.
We are lucky that our market is HUGE in comparison, but we have to build our brand, show the market our brand story, what makes you unique in order to get their attention.
If you don’t differentiate yourself in the market, you’ll always be competing on price.
If that was helpful, take one idea away and use it in your business today. 🚀
Questions? - DM me anytime. 📬
