If you sell luxury goods, offer a valuable an in-depth service such as business consulting, or just have a product that isn’t the cheapest on the market, your prices may fall into the high ticket category.
Generally speaking, this means $1000+, but it depends on what niche you’re in. For example, $500 is fairly cheap for a 30-day business mastermind, but high-ticket for a pen.
If you have a $899 course, $2k mentorship or $5k+ coaching program, it can be tough to know how to sell it. But, it’s a misconception that the lowest priced product sells more, or that customers are always hunting for a deal. This is because the term “bargain” is relative: what people are really looking for is more value.
This means instead of lowering your prices, you up your value: and there are two ways to do it.
If you have a digital product or membership site, it’s easy and preferable to increase what’s on offer in a way that’s of low (or no) cost to yourself. For example, if you have an info product, and you can easily create things like workbooks, checklists, printables and other digital items from the content you already have, that’s a low-effort way of boosting the value to your customer without too much effort.
For a membership site, it’s not likely that having members hang around a little longer than the stated membership cycle – except when space is at a premium and you’re using scarcity to sell – is going to have an impact on your bottom line. So, you could offer a longer membership. For example, if you own a gym, you already have the building, insurance and equipment: it doesn’t really matter to you that you’re “giving away” one extra month, but for the customer it could mean extra results and boosted loyalty.
Boost Value Perception
If you have a business such as one-on-one consulting, or you offer a service, bundling value isn’t going to work because you’ll have to put in too much effort to make it worth it. In these cases, you want to boost the perceived value of your offer.
Tried and trusted ways to do this include:
- Testimonials and case studies
- Professional logos or memberships
- Endorsements from industry professionals (or celebrities)
All of the above serve to squash objections in your customer’s mind and increase your trustworthiness.
You can also increase perceived value by talking more about the solution your product or service offers and its features and benefits, leaving no stone unturned when it comes to describing how your customer’s life is going to be better after they purchase.
There’s no “big secret” to selling a high ticket offer versus a low-ticket one, but confidence is key. As long as you have faith that your product or service can help others with their problems and give them excellent value, all you have to do is either offer them more of the same, or describe that value in terms that – while not lying about how good your product or service is – displays it in its best light.