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What are High Ticket Services
In a world filled with tiny digital product offers and low-priced services, it can be challenging to find clients that are willing to pay the high price tag for services. In this blog post, I’m going to share what are high ticket services, high ticket services and product examples, and how to sell ticket consulting services. When it comes to high ticket services, these refer to pricing generally between $2k – $100k. As you can see there is a huge range in pricing for what is considered “high ticket”, but needless to say it is essential to consider that anything over $1k would be considered on the higher end of the pricing scale.
How to Sell High Ticket Consulting Services
If you’re a solo based business owner, agency, or startup organization, it can be a real asset to your business revenue to consider adding a high ticket consulting package or product to your organization’s roster of services and product lineup. But, even if you understand this, you might be wondering how to actually sell people on a new product or service before you’ve had time tested data, feedback, or testimonials. I’m going to share a few examples of ways that you can start this process, even if you’re new to consulting or you’ve been in the online business space for several years.
Create an Application Form
One of the biggest problems that I see is that people try to cater to every single prospective client that seems interested in their services. This can often lead to frustration when a potential client hops on a phone call with a sales representative or you (if you’re a solo business owner) and they instantly lose interest once a quote is provided. Sometimes you need to find the right fit for your service or business, instead of trying to make your service or product “fit the client”. One way to minimize this constant cycle of low conversion sales processes is to create an application form in which the prospective client provides essential information to determine if they are a good candidate for your services. This application form will deter those who are merely curious, to those who are very serious about your program therefore increasing the likelihood of converting your prospective client into a buying customer. One of my favorite types of embeddable forms is Paperform, but there are several out there that offer comparable customization options like Airtable. The main benefit for using these types of software is that it allows you to create custom redirects to another part of yoru website as well as create an email summary immediately sent to your and the prospective’s email.
Create an application form for your salespage so only those prospective clients who are seriously interested in your packages will book a consultation or application.
Make Your Services or Product by Invite Only
If you’re just starting out packaging your service or high ticket product, like a certification program or group coaching program, you may want to offer a limited time and exclusive beta testing price to those who have shown an interest in your services or products. You can send an email or personal email message to your “short list” of potential buyers. This short list will include those who have worked with you in the past and are willing to provide feedback in return for exclusive first-time access to a high ticket coaching program, digital product, or 1:1 coaching experience.
This should not be available or marketed to everyone, only those that have shown an interest before based off of criteria such as:
- Signing up for a waitlist for said product or service
- Past purchase history with similar related products
- Interest in related products, services, or free content
- Someone that has personally engaged with you via social media or email
Increase Your Service or Product Pricing
As a busy online business owner, you’ll find that if your month is booked by clients, there might not be space enough to add any additional 1:1 work or a intensive support for high end products like a coaching program. In cases like these, you’ll want to consider increasing your service or product pricing. Raising your rates between 30-50% more than your current rates will allow you to not only work with a dedicated group of individuals, but you’ll be able to finance more business administrative support and outsource tasks you might not have time for such as social media engagement, email management, and customer service. Always review the market estimates to see what competitors are charging. That being said, I wouldn’t hesitate to charge higher than your competitors if you know you offer something unique.
Require a Large Down Payment
Don’t be afraid of requiring large down payments between 50 – 60 % of the total balance due up front. Having a larger down payment will help you create a big buffer room for hiring on additional support or prepare for business investments you’ll need to deliver a superior experience for your clients. Larger investments typically indicate that a client is serious about achieving a certain goal and in confidence in you to support achieving that goal. Ultimately, this down payment will serve as a “good faith” amount towards supporting this endeavor and so the right candidate will often find a way to work with you even if it means dipping into savings.
Alternatively, you can offer a larger monthly payment plan for those who can’t afford the one time or two month payment plan. I personally provide payment plans for all of my clients. This is a great way to spread funds over a longer period of time. For recurring payments you can use a payment cart checkout software like Thrivecart or Samcart. I discuss different course platforms for digital products in this post.
Create an Exclusive Training
Selling high ticket services or group coaching programs can also include creating free workshops or webinars. These trainings help to provide the overall framework for accomplishing your ideal client’s goals, but don’t always provide the complete step by step process. One of the easiest ways to provide an exclusive training is to record yourself presenting on a topic that you are familiar on and share the best tips and strategies that you have on the subject. During the training, you can then pivot to different solutions that you have to offer such as a paid product, such as an online course – certification program – or high ticket coaching program, or service such as customized work.
Creating a high ticket service can help you bring in more highly engaged potential clients that are more than willing to pay higher ticket pricing. You can build engagement with prospective clients by reaching out to your short list through your email list, social media, and network of professionals. Consider creating an increased price based off of market research, overhead expenses, and what you need to support a higher touch point program, product, or service. There are many ways that you can create engaged interest and sell your high-ticket services. What’s left is building your confidence in your pricing so that you can actually get your idea into the market.