Looking at the market, there are a wide range of products and services. Mobile phones, for example, have high-end and low-end variations, but they all perform the same purpose. What companies are doing is providing a choice for every customer. When selling items that are at the higher end of the price spectrum, it is what is called high-ticket sales.
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What are High-Ticket Items?
Generally, high-ticket items are those that are of high price and value. With that being said, these products are harder to sell with a much more specific target audience. The market for the budget-friendly Toyota is much bigger than their sports car option, the Toyota Supra.
When businesses sell cheaper options, it is the customer who does the research and buying. The company doesn’t have to do much to market it, but the same cannot be said for high-ticket items. Customers need to be presented and convinced that a highly priced product is worth their money.
High-Ticket Sales Funnel Strategy
While creating high-ticket sales might be hard, it is a need for a lot of businesses. When something costs a lot, then it generates a big profit. Therefore, the question is not if you should be making high-ticket sales, but how you should do it? It is basically a two-step process.
Interest
When presenting a person with two different cars with different price tags, they usually go for the cheaper one. It may cut corners on some features but if it has everything they need, then why should they go for the more expensive option?
What you are going to want to do is get them interested. Give them something that would make them take a look at the high-ticket item. How does it feel, the build quality, and every small detail that will make the product look like it is worth its price.
In big companies, you usually see this in the form of events. Apple always has their press conference every time they release a new product. Even before the product goes live, they start to leak out small details to the media to generate widespread interest.
For smaller businesses, this part comes in the form of webinars, live events, and even as simple as a feature in their website’s landing page. As long as it puts the spotlight on what sets it different, it generates audience impact and gains their attention.
Hook
The next step is to make sure that your interested audience stays that way until they make a purchase. Hooking them into what you have to offer and preventing them from looking at everything else is key in achieving your high-ticket sales.
Unlike the interest step, this comes in a lot more forms and is a little bit harder. Looking at bigger companies like Samsung, what they do is have a pre-order event for their high-end devices. When people put down an initial deposit, it is likely that they will push through with the purchase.
Another commonly practiced strategy are follow up emails. Companies will send you reminders on the new product, what you are missing, and the likes. This will keep you informed and consistently interested until you make a purchase.
What differentiates the hook from the interest stage is it is what reinforces the decision of the customer. They are likely going to go back and forth between options so you assure them that they are on the right track.
High-Ticket Sales Proven Strategies
It’s time to move from concepts to real world applications. Do these high-ticket sales funnel strategies really work in real world scenarios? They do and are proven by both big and small companies in their different product lines.
Tesla’s High-Ticket Sales Funnel Strategy
For sure you have heard about the electric vehicle manufacturer Tesla Motors. Then you know that they are the pioneer in electric vehicle technology and that they revolutionized the industry. In a time when gas-powered cars are what’s in demand, they took a leap of faith. Fast forward 12 years later and the company is worth $47.2 billion dollars.
Despite their relatively more expensive offerings in the market, they have received widespread success. Everything is all thanks to their consistently successful high-ticket sales strategy.
Taking a look at how they marketed their Tesla Model 3, it started with generating widespread interest. Customers wanted to know more about an electric vehicle that was better and more luxurious than the average gas-powered counterpart. They then followed it with a live webinar during its launch, further getting people more interested. To hook them in, at the end, viewers could put down a down payment for a preorder.
As early as the preorder, Tesla made $14 billion from a $1,000 deposit per customer. While not everybody will push through with it, the high-ticket sales funnel strategy ensures to maximize the number of leads that are converted into customers.
Trek Bikes Generates High-Ticket Sales
Trek Bikes is a company that sells high-end customizable performance bicycles. Their prices can go as high up to $12,000. For a bicycle, that’s a price that most are not willing to pay for, even for people who have the money. However, they still manage to make great sales generation through their own variation of high-ticket sales funnel strategy.
Just like with every strategy, it starts with generating interest. Their preferred method is with a landing page that features their products and a mission-vision as to what sets them different from the competition. It is through their landing page where they gather information for the next step.
Trek Bikes repeatedly email potential customers on what they are missing out. The adventures along with pictures of happy customers with their personalized bikes. Along with it is a sign-up form to make a purchase.
The strategy is effective because it shows interested people on what they are most likely going to want to do with their bikes. Before long, that doubt is solidified into a full on decision of making a purchase.
High-Ticket Sales by Winning International
Established in 2014, Winning International provides coach-to-coach services that serves to help leaders to grow their business. The first part of their marketing strategy is through paid Facebook ads. They generate interest by captivating people in the social media world about what they have to offer through a free report.
When people reach the landing page of Winning International, they are directed to a free call and consultation. Then that progresses to a thank you page along with another call which urges potential customers to seek for the paid service. At this point, they have experienced what the company can offer, it is only a matter of paying to have more.
In Conclusion
High price doesn’t necessarily mean products not getting sold. Similarly, you don’t have to find the cheapest items to sell in order to be successful in your business. There is always a market for both economical and luxurious products, it’s just a matter of how to find the right customer.
If you think this is hard, there is a shortcut. Get in touch with the best marketing company. Contact us today for a free strategy consultation.
