Right now, I’m celebrating smashing sales goals in our travel business for January. A lot of the money is from high-ticket offers and it just makes it a lot easier to reach these goals. One of the biggest things that people forget is that it takes the same amount of energy to sell high-ticket as it does to sell low. The difference is in terms of who you sell it to.
Many of the people to who we sold high-ticket in this particular January campaign are further along in their journey, they are more committed, more serious and they are not new. This is important to recognise. It is not always the case, you can sell to new people at a higher price, but if you are considering selling at high-ticket prices you need to look at WHO it is you’re selling to.
One of my clients was struggling to sell her £300 weight-loss packages. Her husband was telling her she was going to struggle to sell it at that price. Three months later she sold a package for £3000. It goes to show that when it comes to high-ticket we get in our own way.
In last week’s episode, I told the story of my partner struggling to raise the price to what it turns out we were already selling at – we get in our own way. Sometimes you need to shift, you have to look at the evidence and what’s been tried and tested. There are so many nuances to sales and we can limit ourselves if we believe only certain things can happen in a certain way.
Change your perception
As a team, we’ve read Think Again by Adam Grant to rethink our perceptions. It tells the story of firefighters going in to fight wildfires. They were trained to do things in a particular way, to keep their tools with them and assess situations in a particular way.
In one fire, a firefighter realised what they normally do wouldn’t work. They needed to do something different to survive. He poured fuel around him to burn the land around him. This firefighter thought about what he needed at that moment by burning the fuel the fire would feed on and so the wildfire passed him and he survived. By going against what he would usually do, he survived and others did not.
It is a powerful and tragic story that makes you think.
One of our team suggested we use a Facebook ad to push the podcast for our travel company. In a lot of industries, that does not work. People on social media tend to thrive on social media rather than podcasts. However, the landscape is changing so more people are listening to podcasts. So the advice on Facebook ads was untested. We are going to trial this.
It’s about moving forwards and experimenting with business. You need to be ready to fail. When you fail, you learn what you need to change and do differently next time. It’s about thinking again and thinking differently.
When it comes to selling high-ticket, if you’re struggling to sell at a low price point it is not the case you’ll struggle at a high price point. You have to go back, look at what’s not working and see what needs to change first.
What needs to change?
I was asked for advice on a failed launch. There are so many elements that you need to look at. Did your audience want the product? Was it something that was drilled down to an ideal client? Did it agitate a problem? Were you showing the transformation and how the product solves the problem?
This is what you need to look at in the front end. At the back end, you need to look at the numbers. How many people did you pull through the funnel? Were those people quality? Where in the funnel are you losing people?
While we might think sales at a low price are not working so therefore it won’t work at a higher price, it actually comes down to other elements. Sales fall down in your messaging and articulation, plus the launch strategy. If you’re following a template system, it won’t work if you don’t have the right things in those templates.
It is worth remembering that if you’re struggling now, it doesn’t mean you will struggle to sell at a higher price point. Stop putting obstacles in front of you that keeps you small. Be more solution-focussed and open to new ideas.
It is absolutely possible to sell high-ticket, no matter where you are right now or how much you are struggling with sales. It is always better to do this with help and get a different perspective, which is what I do in Elevate. I’ve said before that hiring a business coach is the best thing I’ve done for my business to get out of my own way.
Why do you need a high-ticket offer?
Firstly, the higher the amount, the bigger the profit margin. So your business is more financially stable. You can have a more relaxed approach which is better for your wellbeing. I see people tie themselves in knots with endless sales campaigns that they have to keep doing. It’s exhausting and going through the same cycle.
You rinse the audience that you have and are stuck trying to sell the same product to the same people. I see people go through these motions and it’s stressful. Not only in terms of the output but to continually do this as well as scrape to get the money through the doors each month and quarter.
If this is you – stop and think about what you need to do to stop that pattern. One way is high-ticket because that means you don’t need to constantly sell. It gives you breathing space. When you are not in worry and stressed, you get growth, abundance, space for creative ideas and thinking about new things. This allows more into your space.
This constant scraping for sales also has a negative effect on your clients, too. You are not fully present with them either 1-1 or in membership. You’re spending more, time and energy to bring in more people because you are concerned.
Instead, when you spend more time on delivering because you have a high-ticket product, you do not stunt the growth of your business or the growth of your clients since you have the time and energy to focus on them.
Do both high and low-ticket
When you create this space with high-ticket you can do both – you can have a low-ticket offer alongside. You can sell different products at different price points. Your business has to have an umbrella and be known for something in particular – make sure you are known for getting the same kind of results.
I have clients who already have a good nice and clarity but they are not articulating it in the best way possible. Or they are articulating it but don’t have their USP. There are many elements to becoming a market-leading business. I work with people who are on the journey to becoming a market leader. They may be at different points on the route but my messaging doesn’t change all that much. I focus in on which product I’m selling for each point in that route.
For example, if I’m selling a Nail Your Niche product, I’ll focus on clarity. If I’m selling my USP products, my message is around standing out from the crowd and having a point of difference. When I’m talking about Elevate, it’s about having that high-level business coaching that focuses on what you need for your particular business.
The messaging is tweaked but not changed. The audience is on the same journey.
Other benefits of high-ticket
You don’t need a large audience. If you have a small audience or are trying to sell low-ticket to a small audience, then high-ticket will help. You do not need a large audience to sell high-ticket. I made six figures on a masterclass that had five people on each one.
When people think about running masterclasses and webinars, they think they need hundreds of people. Actually, the opposite is true when you have an intimate audience. They get special attention and exclusivity. So I limited the spots on this masterclass to give them the support and attention they deserved. People felt it was a supportive experience that they knew they would get going into Elevate.
Finding quality people versus numbers is far more important, which is why niching is very important. They want that service to fit them like a glove. If it’s too general, they won’t spend any money on it. Go super niche, be clear on the messaging and drill it down to a particular person, problem and outcome.
You don’t need advertising
High-ticket is not sold through Facebook ads. It’s sold through building relationships with quality people who you have spent time nurturing. It saves on ad costs. The traffic comes organically. You can make high-ticket from paid ads. You simply don’t need to.
It’s good for your wellbeing
Many people will want to go low-ticket because they want recurring revenue. Yet, recurring revenue doesn’t have to be low-ticket. You can have high-ticket recurring revenue. There can be a year-long program that you bill on a monthly basis. This keeps the cash flow coming in. You can still scale at a higher level.
It doesn’t mean going 1-1 at high-ticket. You can have that recurring revenue at a group level. It’s about breaking down the barriers of what you think is possible when it comes to high-ticket.
This helps reduce your stress levels and wellbeing. You don’t want to stress about money each month, you want to be in a strong position in business.
Clients are more committed
This means that you get greater results as they are more committed to getting the outcome. You get a greater satisfaction of knowing you are getting those great results. This, in turn, will position you as the one to go to.
When you sell low-ticket, I see the frustration all the time of clients not being engaged in your work. Clients not using the resources. When you price it cheap, it’s a throwaway product. Neither does it bring you much job satisfaction. High-ticket offers mean your clients see the power in what you offer.
In fact, one of the nice things about selling high and low-ticket together is that people in the low ticket offer see what’s going on with your high-ticket clients. They either step up and engage with the lower package or they step up to the higher level.
Fewer clients
Finally, when you sell high-ticket, you can take on fewer clients for the same or more money. This means you have room for your life, your family, the things you want to do. You have time to travel and do what you want to do with your life. You don’t want to spend your life scrimping and wondering when the next money is going to come in.
The joy of being an entrepreneur is that you can create limitless money. You have so much potential in your business to create the life that you deserve. Yes, it’s hard work. It can be simple but not necessarily easy.
Useful links:
Book a Call with Jen – bit.ly/claritycallpodcast
Download my FREE Seven Figure Market Leader Roadmap –http://www.marketleaderleague.com/marketleaderroadmap/
Send your emails to jen@jen-hall.com
Available on Apple iTunes, Spotify & Stitcher (Just search Expert Unrivalled Podcast)