Are you worried that charging high-ticket prices means more work? Listen to this episode where I will show you why this is not true. Part seven of the High-Ticket Selling Series.
Are you holding back on having a high-ticket offer because you think it will be far more work?
I’m here to drop some truth bombs on how much time you really need to spend on a high-ticket offer and how you can launch one even if you’re at capacity right now.
In part 7 of the High-Ticket Selling Series, I show you how you can serve your clients better without spending more time and do this with integrity. I share tips and tactics to create more time in your business and ask some searching questions about how you use your time right now.
Listen using the player above or read the blog below.
How to charge more without doing more
If you want to charge for doing nothing then go and check out the first episode in this series about selling high-ticket with integrity.
Often the idea of high-ticket being more work can be a block. When you’re working at capacity you might struggle to see where you can fit more into your day. I’m going to share some different ways of thinking about things. Sometimes we need to think about how we’ve done something isn’t the best way. There are more than one ways to peel an orange.
We need to challenge our beliefs so that we can see a way to make a goal possible. I encourage my team to do this on a regular basis. Rather than focus on the restraints, what is the workaround? Be solution-focused.
Are you over-supporting?
It is great to give clients your support. Actually, a real bugbear is people who think they don’t need to speak to their clients at a high-ticket price. But you can also provide far too much. I have been guilty of this and have now found the balance of giving the right amount of support.
I am all for under-promise and over-deliver. However, you need to be careful around this. You can create a co-dependent relationship between you and the person you help. This is not good for them. They become dependent on you, it squashes their ability to think creatively, so you need to support and guide. But allow your client the space to take charge.
Set clear boundaries
You can’t want it more than your clients. This has happened to me before where I have wanted the transformation for them more than they want it for themselves. It is not a good balance. This is why I am selective about the clients I take on.
It helps your client learn instead of relying on you. You need to create a balance when you’re creating a service. It depends if you are doing a done-for-you-service then this would be different. However, as a coaching service, you need to be careful around this.
You set the boundaries and expectations about what you offer. People then know when you overdeliver. Don’t blur boundaries and don’t give open-ended offers. It puts the whole relationship under pressure. Of course, you can be flexible and over-deliver if you think it will benefit them. It’s your business, your rules.
High-ticket doesn’t mean giving everything. Your client relies on you to tell them what is needed in terms of support. They need to see there are other people who have gone through your process with that particular level of support. Clients need your reassurance. This can be part of the objection process – is this enough support?
If people need extra reassurance about the level of support you can use SOS sessions, which they can have if they need.
Reflect on whether you are over-delivering at the moment. If you are, then reduce the amount of support to allow for clients to breathe. There are ways you can do this – and I’ll share these later on.
Stick to your zone of genius
Many people over promise on the areas in which they can help. Actually, they need to stick to the expertise they have. Some people want a one-size-fits-all. It doesn’t work for you, it doesn’t get them great results. You end up getting annoyed and when it’s not in your zone of genius, it can be a struggle. Especially if it doesn’t come naturally to you. And it doesn’t put you in a position as an expert.
Yet, this doesn’t mean you can’t add extra things that are in your zone of genius. If you think this will be the cherry on the cake then it might mean outsourcing, bringing in experts or getting other team members. This works on two levels. If you can teach your methods to a team member, this allows you to take a step back from the doing. You can charge higher prices and pay a team member to do that but it lets you focus on being the CEO of your business.
Be a CEO for growth
Doing this can help you be the strategic person in the business and not the one who delivers, which can really stunt growth. It is great if you enjoy your craft, but if you want your business to grow, you need to step away from some of it.
Using the analogy of my mum saying having a mansion would be great but think about all the cleaning you’d have to do. I used to agree with her but now I think ‘get a cleaner’. I can outsource. This is how we get ourselves into these problems – thinking how can I do it? Yet, if we think strategically, the more money you make the more you have to invest in outsourcing.
Consider this as you grow. You need to prove your product rather than do this from the outset. I tend to get to near-capacity and then outsource. In order to outsource, you need to know it well enough to show someone else how to do it.
Over-servicing on accountability
One of the problems I see people doing is taking on weekly calls to make sure their clients stay accountable. Remember that you might be creating co-dependency. You may not need to create accountability by you doing that by calls or lives. You can do accountability by automation. Accountability partners are a great way to do this. Or create an automation sequence where clients come back with stats and goals.
Look at what you currently do and see how you can reduce this. You might be doing too much regardless of whether it’s high or low ticket. Make sure you are not putting yourself in the position of burnout for doing the best for your clients. You need to be in a good place and create time to do other things.
It’s not always about time spent
If you are still charging per session, people do not pay for time. They pay for your expertise. To tell them how to fix what hurts because they don’t know. People pay for the transformation. It’s the story of the plumber who takes two minutes to fix the leak and charges a few hundred. You’re not paying for the time, you are paying for their expertise.
Your clients are paying for the results and it’s up to you to show they people have got their results. If it’s the first time you’ve offered this product, it may be that you’re unsure how much support someone will need. This is when you can throw in the SOS sessions or over-delivering if you need to.
Don’t throw everything into the front end before you know what your clients truly need.
Sell to people with bigger budgets
People further on in their journey don’t always need loads of time. They are after results, they want things done fast so time is not their friend. Spending lots of time on calls with you is not very appealing.
Many of my Elevate clients are quiet because they are busy running their businesses. I encourage engagement but it is not essential to cheerlead everyone along. Some clients are very busy and at full capacity. Time is not their friend.
So you don’t need to spend more time to get them the results.
New people sometimes do need more support. So you need to price this in. We cover pricing in Elevate. Pricing is very personal but it also needs to look at who you target.
Create a luxury experience
If you are this kind of service, people will pay for luxury. This comes down to what container you put them in when delivering the service. Certain clients will want this. Not everyone cares about luxury but there is a portion of the market that does care.
Depending on what service you are selling, don’t forget what people are paying for. Don’t forget to deliver on the basics because it’s not just about the luxury experience. If you are selling a particular result, focus on this first and then bring in the luxury experience.
The luxury is usually a cherry on the cake.
Are you pricing correctly?
If I offered you a house in Chelsea for £50k, would you buy it? You might not have £50k in the bank. You might be thinking this is a scam but let’s pretend it’s genuine. Only you need to get the cash to me in two weeks’ time. You know that if you bought this house, you’d make a huge return on investment. You’ll do everything you can to make that £50k to take hold of that opportunity because you know what the return on investment will be.
This is how we need to think about our pricing. Yes, it’s a big investment upfront but what are they going to get out of that? If they learn this thing and got this result, what does it mean for them? Not just in terms of money, what is the impact for them?
It could be that they’ve been in extreme pain and you’ve got them out of that pain. How does that impact their life and ability to function? There are different return on investment types that don’t just involve money. It’s important to look at what this transformation will mean to them.
You have to be willing to back up your promises. Always with a caveat that they do the work but give them the expected results. You need to price appropriately depending on where you are in your journey. So you can’t price the same as someone with a proven service and a line of clients with results. It’s about being realistic.
Create evergreen content
I see so many people teaching things that can be done without you there. Teaching the same thing repeatedly to different clients over a period of time. It makes me feel exhausted about the number of people who do this. The biggest thing to sell high-ticket without doing more is outsourcing the teaching access to evergreen content.
When you run your product for the first time, you need to do it live but record it and use it. You can run live teaching and accountability sessions. But if you want to scale and do less, then this is a big way to do this. You can provide automated content from the teaching perspective. Do live events alongside or live Q&As. You can gamify it to make sure your clients are engaging with it and doing the work.
Think about outsourcing some of the content to reduce the amount you do live but your clients still get the information. Especially if it’s one way. You can action points and get them to send you their homework. You can be asking questions and making sure they stay engaged. There are so many ways you can do this.
People will pay more for things that serve them well
People will pay more for the transformations they desire. If it comes with a cherry on top, they will pay more than they would to someone else. You are offering something unique. It is your concrete magic bullet that sets you apart from everyone else out there.
You get the result but get it done this particular way. There are so many ways to create a USP but it is something that is not like anything else out there. When you do this, people are willing to pay more because they are not going to get it anywhere else.
You position yourself to show the gold you hold if they trust you with their journey. People pay far more for these things.
For example, my mortgage advisor got us a mortgage but chased everyone for us. She did everything for us and it was amazing. No one else offered this and we were willing to pay more for this service.
What can you offer that no one else is giving?
Extract a method or process of doing something and there is something in this process that no one else is doing. Create a process and put your name to it. People are willing to buy into the science because they feel like there is a formula rather than pot luck as to why it works.
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