Are you wondering if you should have a low ticket offer or a high ticket offer? I’ll explore both avenues in this podcast episode to help you decide the best way to go.
This episode is inspired by a client who was told she needed a membership to warm up her clients before she sold to them. And this client did not want a membership for a lot of valid reasons. It seems that everyone has a membership at the moment so you feel you should have one. Or are told that you should.
I’m exploring the right time for a high-ticket offer. And when one might suit you and your clients the best over another option.
I love selling high-ticket. Yet, there is always an appropriate time and appropriate businesses that suits different levels of investments. However, there are some amazing reasons to go for high-ticket offers, including:
- Getting a cash injection to reinvest or spend
- Having great clients – a certain type of client is attracted to high-ticket offers
- You need a smaller audience
- It positions you as the best
Remember that your pricing will attract a certain type of client. High-ticket buyers have a huge level of commitment, big ambition and goals that they want to achieve. Therefore the rewards of working with these clients is huge. They go through a greater transformation. You get to have a hands-on experience to help them.
Not all high-ticket offers have to be all of the support under the sun. Or last for years. Although, this is what tends to happen. As a result, you tend to have wonderful relationships with people.
Likewise, if you sell low-ticket, you need a larger audience to make the same sales. So, if you don’t have a big audience then you will want to consider selling high-ticket first for your finances.
Many people go low-end because they don’t believe clients will pay for high-ticket. They don’t believe enough in themselves. These are all limiting beliefs. If you do not have a large audience, it will take time for enough people to buy low-ticket to make it financially viable.
Stuggling to sell low-ticket?
If you are struggling to sell low-ticket then it may be the time to start creating the high-ticket offer so you can get the cash injection into your business. You can then use this to invest in the Facebook ads to build your audience for that lower-ticket offer.
Think about growing your marketing budget. You cannot do this if you are struggling to sell at your current prices. It can risk making you desperate.
High-ticket will position you as the expert – you can command that authority. As a result, your lower ticket clients will love this. They get access to you at a lower rate and feel like they are getting a piece of your expertise. It boosts your credibility.
High ticket myths
I want to bust the high-ticket myths. It does not take longer to sell a high-ticket offer. It can take the same time as selling low-ticket. You also do not need to offer 1-1 as high-ticket – there are other ways of workings. Plus, you can have recurring high-ticket income. You can contract people into a longer-term programme and charge on a monthly basis.
People can find it hard for cashflow to come up with money all at once. You can serve your customers and your cashflow by spreading a larger amount over a period of time. It does not need to be a membership for this kind of recurring revenue.
If you take a payment plan over a 12 month period, they sign a contract. This allows you to forecast and financially plan for your business. Versus a membership where you usually do not have a long-term contract. So it can be more secure to sell in this way and help your clients at the same time.
Benefits of a low-ticket offers
Here are the benefits of a low-ticket offer:
- Not a high touch service
- Can be quick sales – if you have the large audience
- Low ticket can mean self-study and courses.
Low-ticket can have more boundaries. Or you can have content where they take themselves through the learning. Perhaps you have a group call or sell the experience of a networking community. Package your services up to suit a lower budget. There is less capacity and your business can grow.
You can also continue to sell high-ticket and scale. The lower end offer can suit people better. Your clients may be in a different point in their journey. It may be a big risk for high-ticket at this point in time.
The issue I have with membership to upsell to high-ticket, is that while some people will invest in the 1-1, more people will end up stagnating at the same level. They will never upsell into the 1-1. Actually the conversion level is not that high. Plus, lower entry points can delay the process of buying the high-ticket offer.
Consider your business model, and what you want to achieve in the long-run. I know people with huge networks but are not monetising them. You need to think carefully if you are someone with a large audience. If they all have the same problem, you can generate a large sum of money quickly.
You can embrace both
You do not have to pick either high-ticket or low-ticket, you can absolutely use both. But you do need to consider your entry points for your ideal client. What point in the journey are you getting your ideal client? If you are getting clients when they have experience – they are less likely to want a low-ticket programme. They have already done this and are short on time.
People at the start of their journey have a lot more time but a lot less money. So what offer is going to best suit who you are targeting? Someone with a bigger pain point, or with more experience – they are more likely to want to spend more money.
It is about find the match for you, your business, how you want to work and also who it is you are targeting. So they can get the perfect match for them, for the point in the journey they are at. It always possible to create either a high or low-ticket offer.
For those of you who are selling high-ticket at the moment and want to raise the capacity of your business, you may want to consider a lower end product. This can be harder to do that going the other way. You have anchored yourself at giving so much value and support for a lower price point. It can be difficult to move away from this.
Ask: am I serving the same client if I create a low-ticket offer? If not, then you might want to create a second ideal client avatar. Then grow an audience around this person.
You do need to be honest about whether a low-end offer is what your current clients want to consume and how they want to consume it.
People try mix the two and if they go about it the wrong way, they can end up undercharging for a high-end product. Stop undercharging because you think people will not pay.
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