Here’s a fact: The right sales strategy can make a world of difference for your business. Too many low-ticket clients can slow down your business, thereby affecting your revenue.
On the flip side, your business gains a higher revenue even if you only have a handful of high-ticket clients. While high-ticket clients are difficult to acquire, the right strategies will help you get there and boost your business growth.
Before we dive into the strategies, let’s have a rundown of the concept of high-ticket sales.
What Are High-Ticket Sales?
The art of closing upscale contracts is known as high ticket sales. It is the negotiation and sales phase of directing a potentially high-value client to a purchasing decision on products, services, or even contracts.
A high-ticket deal is usually priced between $3,000 and $1,000,000, or more. Property investment, coaching services, marketing strategies, web design bundles, luxury products, courses, even contractual relationship agreements are all part of high-ticket deals.
High-Ticket Sales vs. Traditional Sales
There is a significant gap between traditional sales and high ticket sales. The psychology of these two is entirely contradictory. When persuading a potential customer to commit, high-ticket sales require a sophisticated strategy.
Whereas, a conventional salesperson, often referred to as a "snake-oil salesman," is associated with using deceptive, excessively persistent, misleading, sleazy, or aggressive methods to persuade you to make fake, ineffective, or regrettable purchases. The conventional ones are notorious for doing just about anything to get a commission from you.
Strategies For High-Ticket Sales
It’s evident that if you want fantastic results in the world of high-ticket sales, you need to attract high-end prospects. Here’s a list of our top 5 strategies for high-ticket sales.
1. Building A Strong Brand
Cold calling out of the blue typically results in people hanging up on you. So, the first step is to create a corporate image that attracts high-end clients.
When the industry isn't noticing you, it's usually because you're not putting yourself out there in front of the right customers who might want to engage with you. You then end up wasting way too much time mindlessly chasing rather than growing.
While building your ideal client profile, you have to identify the social groups and communities relevant to the industry you're targeting. If you've reached those groups, spend more time focusing your efforts on being recognized as somebody who brings value rather than portraying yourself as a mere salesman.
To close high-ticket sales, you must first establish a reputation with high-ticket leads. It might be tempting to submit a proposal to a lead who meets your criteria, but this will probably not end well.
This is because though you've found a suitable lead, your lead isn't yet confident that they've found the right fit for the job. You have to establish your credibility first.
Facebook, LinkedIn, and cold emails are the three most powerful ways to increase your exposure to your target audience. Facebook allows getting relatively instant results, while LinkedIn moves at a slower speed. Twitter, like Facebook, ensures a fast response.
Make use of these online media to build your reputation as an authoritative figure.
2. Creating and Distributing High-Value Content
You need to keep in mind that algorithms are constantly changing. When it comes to content marketing, strategies do shift based on trends. What works this year will not work next year. However, one basic principle is to always have high-quality content on your social media handles.
There are several approaches to creating attention-grabbing content. You must produce both fun and informative content if you want to attract the best kind of attention and be considered legitimate. This type of content is known as edutainment.
You can't make a difference if you don't get coverage, but doing something only to get attention (like clickbait) isn't a good idea either.
Always be thinking about ways to improve and optimize your content, coming up with new ideas, experimenting with them, and testing them.
Build backlinks to your content using link building tools to further step up your content game.
3. Requesting Referrals
Referral from existing clients is one of the most tried and true methods to make high-ticket sales. A warm introduction can pave the way to a reduced sales cycle.
But rather than relying on luck, you can put strategic efforts in place to generate more referrals on purpose.
To dig deeper into the topic, analyze where you stand at present. Is your referral game working, if not, why aren’t they?
Do you lack a strong network? What do these referrals mean to you, and how do you intend to take immediate action? Have you created an incentive to refer to yourself?
If you're not receiving referrals, evaluate yourself. It is critical for your company. Understand your clients' views with the help of the following questions:
Are you providing one-of-a-kind goods and services?
Do the goods and services provide exceptional value?
Can you deliver what you promise? Do you follow through with your promises?
Are you reliable in following up with clients, and do you have a strategy in place for daily communication?
Are you consistent in developing your practices, guaranteeing that clients receive value and that your pricing does not change among individuals?
Do you have a transparent billing system?
Do you give a 100% satisfaction guarantee?
How much effort do you put forward to show that you are the finest in your field for dealing with your client's specific problems?
Can you live up to the brand's expectations? Are you well-prepared, on schedule, and presentable?
Are you a consistent or a once-in-a-while high performer?
What are some of the places where the service delivery is inconsistent or could be improved?
What standards of service delivery do you usually or regularly uphold?
If you want more referrals, what market expectations are you willing to create and commit to delivering?
Just because someone knows you does not really mean they'll recommend you to anyone. People, understandably, do not want to recommend because it involves an uncertainty they do not want to face. Therefore, provide high value to your prospects and judge yourself.
Want the ultimate gateway to getting referrals without asking? Let’s get to our next strategy - gifting.
Simple generosity is the unconventional hidden weapon of authentic influencers, and it can increase referrals, retention rates, and return on investment (ROI).
Gifts with a hidden purpose, on the other hand, can backfire. John Ruhlin explains this beautifully in the book “Giftology: The Art and Science of Using Gifts to Cut Through the Noise, Increase Referrals, and Strengthen Retention.”
The best gifts might not be what you think they are. Of course, you can send your prospects cheesy gift baskets or baked goods. But it might backfire if they are on a diet.
The right corporate gift is the one that sparks an emotional bond between you and your client.
5. Using Facebook-Ads
Using Facebook Ads is another solid way to ensure high-ticket sales. The following tried-and-true methods will help you sell high-ticket products on social media.
Choosing A Product
The most critical phase in lead generation for high-ticket sales is to choose a product that grabs your prospect's attention. The product featured in your advertisements should be unforgettable. It must be appealing enough to draw the searcher's attention away from something they were doing and redirect it to your ad.
We've discovered that the most appealing, attention-grabbing products have stunning exterior attributes, unique design, and other features that set them apart from any other product like them.
Set up A Mindblowing Sales Funnel
Always consider your Facebook ads as a "funnel." In other words, divide your advertising into groups of at least 2.
The first ad should attract a large number of people and allow you to create a substantial "custom audience." The custom audience is the community of people who will be "retargeted" with your second ad. By advertising in this way, you make a large number of people aware of your possible solutions while only investing additional ad dollars on those that are most likely to become your clients.
Communication Is Key
If you follow the steps outlined, you should see an influx of leads into your inbox, a burst of comments from people seeking information, and a number of messages sent to you via Facebook Messenger. Don't feel intimidated by this.
Someone must be ready to face these situations when they arise. Consider granting access to your Facebook admin account to several members of your team so that they can reply back quickly.
Lastly, keep records of how much you invest in marketing campaigns and how much it costs to produce each lead. You can use employee monitoring software to track the progress. Remember to equate these numbers to the sales revenue generated by your advertisements. If you find that you are getting a positive ROI, you should try increasing your advertising budget. After all, every penny invested yields a higher rate of return. Then why not?
If, on the other hand, the promotions are operating at a loss, it's time to rethink and try something new. But don't give up completely. It takes time and patience to create a successful campaign.
Concentrate on high-ticket sales to boost the brand value and generate a greater revenue stream from individual customers. You now know the advantages of focusing on high-ticket sales and how to apply the high-ticket sales funnel for your ads.
Once you've closed the deal, follow up with customers to ensure their satisfaction.
Once you understand the science behind high-ticket sales, you can easily outperform conventional sales techniques.