How to Sell Out on Your High-Ticket Services
When I began building my company from the ground up, I wasn’t the best salesperson in the industry. I had my fair share of jackpots and losses, and over the years, I have understood that the online marketplace relies heavily on making the best first impression, offering the best products, and performing the best customer service.
This article is entitled Selling the Invisible because outside of brick-and-mortar establishments and online retailing companies, there exists a market with a huge potential: customers looking for solutions in the form of services. Continue reading for the three most effective strategies to sell out on your next coaching event.
In the recent years, there has been a spike in the trade of Coaching Services. According to Forbes, more and more individuals engage in business instead of, or alongside their day jobs. The business for consultancy services exist because aspiring business owners want to succeed in the field. They want to know about how to find the right niche, brand their products, avoid landmines and icebergs, and find the gems in the market quickly. Your role is to be a credible source of expertise and experience.
The challenge now becomes getting your customers to see your industry know-hows as valuable, as well as a ticket to their own success. This way, you’ll have customers who are more than willing to pay premium for your service. Once you establish that you can help them become financially-affluent industry leaders, you can now prepare for your own inflow of profits.
In the industry of selling high-ticket consultancy services, you will come across two types of prospects. I have learned that one approach may not necessarily generate the same results when applied to the next group, but regardless of their classification, they will make you money if you are able to hook them in right.
These are customers who are aware of the nature of your business, seek the service you offer, and possess the willingness and ability to avail your products. These are the people you and your competitors go after because they make up your niche and will be the easiest to introduce your brand to.
They can be customers who have already experienced your service, in which case, you have to invest time and effort into cultivating a unique value proposition that will make persuade them into repetitively turning to your brand for the solution to their needs. Once you capture this kind of customer, you’ll have more opportunities to make sales on your high-ticket services.
Studies show that spending on marketing resources to acquire and convert prospects will actually cost you three times as much compared to the after-sales initiatives performed to retain your current customers. You have to put a heavy focus on creating exceptional buying experience for these customers because they will gladly pay thousands of dollar in exchange for your expertise and knowledge in success.
No matter the kind of customers there are in the digital marketplace, my tactic to get your customers to patronize your brand is finding their triggers, or the things that will make them want to seek your services. This may come in the form of free customized consultancy services after a required number of tickets purchased, exclusive freebies during one of your coaching sessions, or a discount to your next event.
These are prospects who have little to no awareness of your business, but they are looking for solutions that you are able to provide. They are potential customers who could eventually become low-hanging fruits, or the holy grail of your business once they turn into hot prospects.
These people will initially be hesitant to try out what you are offering, which is why they will go for low-ticket services for their first buying experience. However, once you have positioned yourself as a provider of helpful and profitable business knowledge, you can begin upselling to high-ticket products.
If you’re still debating why you should sell high-ticket services, let’s do the math. Say you’re offering your product for $10 and your break even figure for the month is $5,000, you’ll need to sell to 500 people just to earn back your capital. Doable? Yes. Logical? No.
So what if you priced your product for $500 instead? That would bring the number of people you need to sell down to 10. Imagine only having to sell to less than a dozen people to get your investment back. Sell to fifty people and you’ve got yourself a healthy profit margin. Sell a hundred high-ticket products and you get 10 times your starting capital.
Basically, when you are able to execute a high-ticket selling system, you make massive gains for about as much stakes. Now, how do you get your customers to invest their time and money on your business?
Trust the Power of Branding
If you are selling high-ticket services, you have to give your customers the perception of opulence, that they are paying for something that will give them generous returns. Do this by working on the how your website looks.
General impressions are made from visual contact. If your prospects see a website that’s too cluttered, or has too little information about who you are and what you can do for them, the back button is one click away and in a split second, you lose a potential sale.
Invest in Marketing
You cannot expect your entire target niche to know about you through word-of-mouth. It’s important to have multiple information platforms that they can use to get in touch with you. Pay attention to your social media channels and employ paid-per-click ads for an accurate reach to your clients.
It may seem like a feat to accomplish, but our team of proficient web and market professionals with decades of experience will help you build a business that wins and helps other businesses achieve the same.