If you’re an entrepreneur or business owner looking to increase profits, creating a high ticket offer is a a sure fire way to get there.
With that said, creating a a high ticket offer can be intimidating, especially if you’re not sure where to start.
In this post, I’ll walk through 24 tips for creating a successful premium offer that will bring in big profits for your business.
From identifying your target market to pricing your offer, these tips will guide you through the process of creating a high ticket offer that resonates with your customers and helps you close high ticket sales.
What is a high ticket offer?
A high ticket offer is a premium product or service that is sold for a significantly higher price than your regular low ticket offerings, which has a dramatic impact on your customer lifetime value.
This is a powerful business model: high ticket items are sold at a high profit margin, so you can sell far fewer customers with a greater impact than low ticket sales.
High ticket offers come in many shapes and forms, from physical products such as cars, electronics, or jewelry, to services like private coaching programs, luxury vacations packages, and consulting gigs.
They are typically targeted towards a specific audience who is willing and able to pay top dollar for products or services with great value. You might hear about high ticket offerings in reference to a value ladder or ascension model.
Selling High Ticket Leads to Big Profits
Many business owners focus on selling their products and services as affordably as they can and are missing out on the majority of their profits.
There is a portion of your customer base that want more from you – this is true in every business. According to world-class marketer Dan Kennedy,5 – 20% of your customers are not fully satisfied.
These top customers will spend more money with you if given the chance. As Richie Norton says, “It’s really simple. Sell high-value stuff to people who value high-value stuff.”
The Law of 80/20 says that:
- 20% of the customers produce 80%+ of the profits
- 5% of the customers produce 50%+ of profits
- 20% of the people will spend 4 times the money, and4% of the people will spend 16x the money of the average person.
This means that the majority of your profits will come from just a small portion of your ideal clients. Often about 50% of your revenue will come from just 1% of your customers.
Even if 95% of your customers do not have a willingness to spend a lot of money, that 5% could be worth 50% for the bottom line of your business.
Simply put:if you’re not selling premium offers, are leaving a ton of money on the table.
High ticket offer examples
As mentioned above, high ticket offers come in many different forms, and I can virtually guarantee selling high ticket products is possible within your business.
Here are a handful of examples to kick off your brainstorming:
- Luxury cars: These are high-priced vehicles that are often sold for tens of thousands of dollars or more.
- Luxury real estate: This could include high-end homes, vacation properties, or commercial real estate.
- High-end electronics: These might include high value products like high-end audio equipment, high-end home theater systems, or high-end computer systems.
- Private consulting or coaching services: These services may be offered by experts in a particular field, and they may be priced at a premium due to the expertise and experience of the consultant or coach.
- Exclusive events or experiences: These might include things like VIP concert tickets, exclusive vacations, or special dining experiences.
- High-priced courses or educational programs: These might include things like a group coaching program or specialized training courses that are priced at a premium based on their content and delivery methods.
- Business opportunities: These might include franchises or other business opportunities that require a significant upfront investment.
How to create a high ticket offer
Now that we’ve covered the basics on high ticket sales, let’s make this actionable.
With a little planning and some creative thinking, you can easily create a premium offer that will not only bring in more money, but potentially transform your business. Remember that high ticket buyers are willing to spend significantly more than low ticket buyers, so this is time well spent.
When thinking through how to create high ticket offers with premium pricing, the below steps are where I’d suggest you start.
- Start by evaluating your basic offer. What are the key components that make it valuable? What could you add or change to create an even more valuable offer?
- Think about what your ideal high ticket clients would be willing to pay for your product or service. How much value do they see in it? Would they be willing to pay significant money for it?
You’ll want to think about ways it can have a significantly higher perceived value than your basic offer.
Here’s what I’d ask you to think about:
- How can you dramatically improve your customer’s experience?
- How can you greatly simplify the customers life?
- What pain points can you take away from the customer?
- How can you offer the best solution in the marketplace?
- What would you have to do to add great value?
- Can you add tiers to your products or services? Can you create apremium option?
- How many price levels do you serve?
Elements to Consider For Your High Ticket Deals
1. Hands-on help
This could be through individual or small group coaching (training and personal help to reach an end result)
2. Increased personal touch and direct access to you
3. Done-for-you service
Make it easier for them – they might pay for learn how to do something but will pay more for you to do it for them!
4. Simplicity, convenience, and ease of use
Think about Apple and Amazon’s obsession with simplicity and client experience. How can you bring this to customers?
5. Workshops or clinics
In-person events to get closer to you and solve a problem
6. Toolbox
This can include any variety of “plug and play” ads, tools, or other templates.
7. Extended warranty, lifetime replacement, free repairs
8. Lifetime membership
Unlimited use, replacements etc.
9. Exclusivity
Part of a special club or membership
10. Package deal
Bundling of products/services for greater value. You could consider packaging multiple products together at a discount price (i.e. 4 products for 35% off)
11. Speed
People will always pay for to get something done faster (i.e. overnight FedEx shipping)
12. Higher quality materials
13. Personalization
The question to be thinking about is:
If I had to sell my product for $5,000, how would I do it?What would I have to do to ramp up the value for my customers?
Most businesses don’t have market offerings spanning a this wide of a range, so they are missing all kinds of opportunities to sell to their existing customers.
Selling High Ticket Offers to Your Ideal Client
As you continue your brainstorming, the natural next question is:How do I find out what they want to buy?
The first step is toidentify the top 20% (or even top 5%)of your customers and design a high ticket product specifically for them.
You might intuitively know who these folks are already, but if you don’t, you can do a quick list segmentation exercise to figure this out (sort and segment your customers by who has spent the most money with you over the last year).
Once you come up with the list of these individuals, I’d recommend you call them and ask a few questions. You can phrase this as just asking for their advice.
Here are a few thought-starter questions you can use:
- “What would you definitely buy from us if we were only smart enough to offer it to you?”
- How should we package our product / services?”
- “Is there anything else we should be offering you that you’d want to go with ____________.”
The key here is that we validate what we create through asking them. As you or your sales team continues to have these conversations, you’ll likely hear some similar themes from your top customers.
25 Tips for High Ticket Sales
1. Identify your ideal customer
To effectively target high ticket buyers, you need to understand who they are and what they need.
This means identifying the characteristics of your ideal client, such as their age, income level, interests, and purchasing behavior.
I’ve written a detailed post on RFM customer segmentation which can shortcut this process for you.
2. Offer high-value products or services
To attract high ticket buyers, you need to offer products or services that are perceived as being high-value and worth the price. Can you take away a major pain point?
Going through the exercise above should uncover some attributes you can call out.
3. Emphasize the benefits
When marketing to high ticket clients, it’s important to focus on the benefits of your products or services, rather than just the features. Highlight how your products or services can solve problems or improve the lives of your customers.
4. Create a sense of exclusivity
A high ticket offer should feel exclusive and special to the customer. This could be through limited availability, special bonuses or perks, or other exclusive perks.
5. Focus on the end result, not procedures
For high ticket sales, it’s important to focus on the end result of purchasing your product or service.
This means selling the benefits and advantages that customers will enjoy by buying from you, rather than focusing too much on the process and procedures of their purchase.
6. Offer a guarantee
Offering a guarantee can help reduce the risk for potential customers and increase their confidence in making a purchase.
This could be through a money-back guarantee or a ‘try before you buy’ policy. This is especially important for high ticket sales, as customers are more likely to spend more when they know there’s less risk involved.
7. Offer bonuses or incentives
Adding bonuses or incentives can make your offer more appealing and increase the value for the customer. These could be things like additional products or services, access to exclusive content, or a money-back guarantee.
8. Create a sense of urgency
Creating a sense of urgency can motivate people to take action and make a purchase. You could do this through limited time offers or by offering a special deal that is only available for a short period of time.
9. Use visuals and storytelling
Using visuals and storytelling can help bring your offer to life and make it more appealing to your target audience. Use images and video to showcase your offer and tell a story about how it can benefit the customer.
10. Build trust and credibility
High ticket customers are more likely to make a purchase if they trust and believe in your company. You can build trust and credibility through customer reviews, testimonials, and recognition from 3rd parties.
11. Offer a payment plan
Offering a payment plan can make a high ticket offer more accessible and reduce the risk for potential customers.
12. Follow up with interested prospects
It’s important to follow up with interested prospects to answer any questions they may have and provide additional information about your offer. These types of sales are often not done in one shot, so you need a way to nurture clients so they can purchase when they are ready. Email marketing is one great way to do this.
13. Provide white glove service
High ticket buyers expect the best of the best in terms of customer service. Make sure you are providing a white glove experience with top-of-the-line customer service to make your customers feel valued and appreciated.
Use Psychological Techniques for High Value Sales
14. The principle of scarcity: Highlighting the limited availability or time left to take advantage of your offer can create a sense of urgency and increase the perceived value of your product or service.
15. The principle of reciprocity: Offering something of value to potential customers before asking for a sale can increase the likelihood that they will make a purchase. This can be something as simple as a free resource or consultation.
16. The principle of consistency: Highlighting how your offer aligns with the values and goals of potential customers can increase the likelihood that they will make a purchase.
17. The principle of social proof: Show customer testimonials, case studies and other elements of social proof to show how you’ve helped others in the past. This could include the number of customers, awards you’ve won, or number of five star reviews on Google. All of these things help build credibility and increase the perceived value of your offer.
18. The principle of authority: Highlighting your expertise and credentials can help establish trust and increase the perceived value of your offer. This article has some examples and can provide some ideas for you.
19. The principle of liking: Building rapport and finding common ground with potential customers can increase the likelihood that they will make a purchase.
20. The principle of commitment and consistency: Asking potential customers to make a small commitment upfront, such as signing up for a newsletter or attending a webinar, can increase the likelihood that they will make a larger purchase later.
21. The principle of loss aversion: Highlighting the potential losses or drawbacks of not taking advantage of your offer can increase the perceived value of your product or service.
22. The framing effect: Highlighting the benefits and positive aspects of your offer while minimizing any potential drawbacks can increase the perceived value of your product or service.
23. The anchoring effect: Starting with a high price and then lowering it can make your offer seem more appealing.
24. The fear of missing out (FOMO): Creating a sense of urgency and highlighting the potential benefits of taking action now can increase the likelihood that potential customers will make a purchase.
Creating Your High Ticket Sales Funnel
A high ticket sales funnel is the process that helps guide potential clients through the journey of discovering, evaluating, and purchasing a high ticket offer.
I’ll briefly walk through a marketing strategy around a high ticket sales funnel might work to earn new clients.
The steps in a high ticket sales funnel typically include:
Awareness
This is the first step in the marketing funnel, where potential clients become aware of the product or service you’re offering. This can be through marketing campaigns, social media, or word of mouth.
A few common ways to get awareness:
- Use specific ad targeting options on social media (i.e. through a Facebook ad)
- Targeting specific audiences through SEO and content marketing
- Short-form content within social media posts (Twitter, LinkedIn, etc.)
Interest
Once potential clients are aware of your product or service, they may express interest by visiting your website, signing up for a newsletter, or being willing to opt in for your lead magnet.
You’ll want a way to nurture leads, as high ticket buyers require a longer sales process. I recommend setting up an opt in page (also known as a landing page) to deliver a lead magnet and begin building a relationship through your email list. This is a great opportunity to build relationships at scale, as you can reach thousands with the same content.
In doing so, you can separate a potential high ticket client from the masses – the 4% who are willing to spend 16x as much as an average customer.
Evaluation
In your email sequence, the goal should be to encourage the prospect to take a sales call, where you have an opportunity to close the deal. The strategy on sales calls is outside the scope of this article, but if there is enough interest, I can create an article walking through this process.
At this stage, potential clients begin to evaluate whether the product or service meets their needs and whether it is worth the price. They may compare it to other options, read reviews, and ask for more information or demonstrations.
Decision
Once potential clients have completed their evaluation, they will make a decision about whether to purchase the product or service.
You should have strategies to minimize objections and make the purchase process as smooth as possible. Think about what we covered above – this can include offering money-back guarantees, discounts for referrals or multiple purchases, and highlighting customer success stories.
Purchase
If someone decides to purchase the product or service, they will complete the purchase process by providing payment and any necessary personal information.
Retention
After closing the high ticket sale, it is important to retain the client and encourage them to continue using the product or service. Spend time engaging with customers and focus on creating a world-class onboarding process.
Your goal should be to create raving fans and make referrals the natural next step.
Advocacy
If a customer is satisfied with their purchase and the overall experience, they may become an advocate for the company and recommend it to others, helping to bring in new leads and customers.
Conclusion
By following the tips I outlined above, you can create a successful high ticket offer that helps generate significantly more revenue for your business. I hope helps get you started and removes any intimidation around the process of crafting premium offers.
With the right strategies, pricing and promotion in place, you can make sure that you’re giving your top customers what they are looking for – and that you’re making the most out of every sale.
Good luck!
