If you lack the confidence to sell high-ticket and it all feels a bit icky then I show you how to gain confidence to sell high-ticket.
Busting some big pricing myths and sharing the biggest things that hold business owners back when it comes to selling high-ticket. Plus, the key elements you need in place to boost your confidence in selling high-ticket.
I love how amazing it feels when you sell high-ticket and how it transforms your business and your outlook. It busts all the myths you’ve had about high-ticket selling. You push the limits of what you previously thought possible. It’s a great way to prove to yourself that what you didn’t think was possible can happen.
We are covering this in Elevate this year so if you want to join us, book a Clarity Call here.
An Example Of Pricing
Every year, my partner Andy and I run a planning day. We look at pricing, sales strategy, how we move the team on and our values. During this day, we changed how we run our training weekends for our travel company. It is a training day in Brecon but there is a lot of time and effort for little return into the business.
We don’t want to get rid of it but instead, increase the number of people who can attend and reduce the dates. While looking at this, we also want to make these as lucrative as possible. Interestingly, Andy does struggle with charging higher prices. So we had this conversation about increasing the price of the training days.
Andy knows that if you give upfront value, it puts a shine on what we do and makes us stand out. We were talking about giving away merch for free. I was saying we have to price this in and push for a higher price. Not significantly higher but £100 more so we are not making a loss on the training weekends. Andy agrees with me rationally but he is not comfortable.
Fast forward two weeks and I’m talking to my Head of Ops and the dates we want to book. I look at the price we agreed, I look at the screen and I see that the price we agreed to raise it to was already the price people are happily paying. Andy could not believe he had been worrying about raising the price in case people could not afford it.
Even a price raise at that level caused him discomfort. So we used that current price point as an early bird and then raised it on top.
Making Pricing Assumptions
The lesson here is that it is our mindset that sets the level we feel people can afford. You cannot make assumptions based on what you think people can afford. The price is based on cost and value. What people can afford is different to what we think they are willing to pay. You cannot make concessions because you worry about people’s financial situations.
It is none of our business what people earn, how much savings they have and what they choose to spend money on. One of the biggest lessons is when people say they cannot afford something, in most cases it is not prioritising spending their money on that thing.
It is the same as saying you do not have time for that thing. Sometimes it is fine to not prioritise it or spend your money on that thing. Some things that are not for everybody. People have different values, wants and desires.
It is not our place to make assumptions. Often this can be based on our backgrounds. We need to look at whether we are letting this hold us back. If you keep doing this it will cause you problems selling at a high price.
Your service is how much it costs and if people can’t afford it, that’s fine.
If you are selling a £10k product upwards to a newbie who has not proven their product or service cannot make money, it is not going to work. There is too much risk. They might have the money but are unlikely to spend it. There are other reasons why people can’t buy.
The objection here is not the price but that is it too soon for them to buy. And this is right if you’re selling a £10k service to a startup. You need to be further in that journey to figure out what is and isn’t working. And you also have to look at the market you are selling to – taking that into account – but it does not mean newbies won’t spend money.
You can look at why people are not buying but often it is because you have not shown the value of your service. If someone is saying it is too expensive, you are not showing them the return on investment that they will get.
People Pay For A Transformation
People also pay for an experience. You need to take both of these into account. Is the transformation clear and have you articulated it properly? If it’s waffle without concrete solid answers, then people will be less likely to buy it. This will also impact your levels of confidence in selling. If you don’t know what you are giving your customers, they don’t know what they are buying. You will never be able to sell at that level.
To increase your confidence in selling high-ticket, you have to be confident in your services and the transformation they give. You need to be confident in your delivery. Delivery is another area where people can falter in their confidence, this will show through and stop you from selling.
When it comes to delivery, you won’t even get to the point of sale because you are scared about what will happen when someone buys it. How will you get them their results? You have to look at this and answer if this is true and real. Have you gotten results before?
People also trip up in hourly rates or sessions, you are not selling on the transformation. This can be difficult as you might have clients that you get results for but they get results at different levels. They are at different points in their journey. This is acceptable. You don’t have to take someone through from A-Z. It does not mean you cannot take one person all the way through at all.
If you come from a corporate role, if you have the evidence that you get people through to that particular transformation that you are selling, then you are golden.
There is imposter syndrome. But if you are selling something that you cannot prove or get someone else the result at all then that is real. In this situation, you should be asking if you should be selling high-ticket at all right now. If it is right to charge people that amount of money when you have not proven you can do it?
You can charge appropriately, even if that means doing something for free to see it through. You need to start somewhere and not jump from no experience, and no proven results to selling high-ticket. It is not within my integrity to teach otherwise.
Yet, a lot of the time you do have the evidence, skills and experience to get those results. It is a case of packaging it up in a slightly different way. A lot of the time the discomfort that you’re feeling is because it’s a new way of selling and a new price point. It is important to look at this evidence and see if it is because you don’t have clarity on what you offer. If this is the case, you just need help from a business coach to see if you are articulating what you sell. When you do this for yourself, you also do it for your clients.
When you look at the impact of the results, you see the change. I use my tumble dryer as an example of this, it is genuinely life-changing and we don’t often see the small things we do for people have a big impact. It’s the plumber who spends two minutes in your house but gives you a big bill. You pay for their expertise not their time.
Simply because you were charging less before doesn’t mean you can’t charge more now. For example, a lot of the discomfort can come from what you charge current clients. People feel out of integrity charging new clients higher prices. You don’t have to offer the same thing to new clients. Often this comes when you move from hourly to a programme or a package. It gives them more of a transformation. You are promising a result.
You also know that if you take an existing client through this process, they will get better results because they are already committed. There is a choice about whether you invite existing clients onto the new system or stay at the price they have. This is up to you. For every new client, you are charging more because that is what it is worth. As you get more clients on your new rates, it will make you question your time and how well you serve existing clients.
When you look at the evidence of what you do and the impact of the service you give, it can make you question the value of what you charge. It does not mean you cannot raise your prices, but you need clarity on messaging, articulation and return on investment. Until you do this, you will be concerned and lack the confidence you need to sell high-ticket. You will feel like you’re selling fluff instead of rock-solid return on investment.
Going To Someone Cheaper
The other mind-monkey you can have is that your clients will go to someone cheaper. This is where having a solid USP and being able to articulate this is key. If you have a USP, that extra something that other people do not have will make you the number one choice.
This is a key focus in Elevate and why I help people to sell high-ticket with so much confidence. If you want to focus on selling high-ticket this year, book a call.
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