Not everyone can sell high-ticket products. The sales funnel for high-ticket products is widely different than ordinary items. If you’re looking to sell high-ticket products, then you must read this guide.
There’s an overlap between a high-ticket sales funnel and a lead generation funnel for businesses. If you’ve been having trouble converting leads into sales for your high-ticket products, or if you have clients facing the same trouble, this guide may help you out.
Contrary to popular belief, you can sell expensive products and services with a well-planned sales funnel.
I’ve created this guide to teach you to how to sell high-quality products. Before we get to it, first let’s make sure we have the same understanding of a “High-Ticket Product”.
What are High-Ticket Items?
High-ticket items are expensive, high-value products or services. Buyers have to spend a lot of money on these products/services, and they offer huge value for money.
A high-ticket product can be anything for the buyer, such as:
- High-end Bikes.
- Expensive industrial machinery.
- Coaching classes.
- Industry training.
As a general rule of thumb, high-ticket items are usually the ones that cost more than $1,000 and have a high value for money.
It’s almost impossible to sell high-ticket items with ordinary sales funnels. A high-ticket sales funnel is specially designed to sell an item to a customer. It’s a step-by-step process and it pushes users to buy a high-ticket item.
High-ticket funnels are a powerful marketing technique that businesses can use to sell expensive products/services.
People who buy products or services that are expensive are more invested in them and will rely greatly on those products/services. This is one of the reasons why high-ticket items generate a lot of revenue for businesses.
High-ticket items aren’t ideal for all kinds of businesses, such as:
- If you don’t want to charge more than $1,000 for a training course or webinar.
- If you are happy charging customers an hourly rate for your services (SEO, web development, PPC, etc.).
Similarly, you should sell high-ticket items if you’re willing to:
- Charge customers more than $1,000 for a product or service.
- You want to increase the amount of profit you make on each sale.
- You want to spend less on overhead costs.
- If your business wants to sell expensive products over affordable ones.
As you may have guessed, high-ticker products are also the most profitable ones for the business. This is why some businesses only sell high-ticket items. They can sell fewer products and still end up meeting their financial goals.
There’s a lot of revenue potential when it comes to selling high-ticket items. But, you can only do so if you’re able to generate high-ticket leads. Compared to generating leads for ordinary products, generating leads for high-ticket products is challenging.
One of the best ways to get customers to buy high-ticket products is by asking them to pay a small deposit. If you’re selling a service that is expensive, you may want to give the prospect a preview of the service. It could be a free report, a small portion of a lecture for free, or something similar.
How to Build a Successful High-Ticket Sales Funnel?
If you’re habitual in selling ordinary products using run of a mill sales funnel, you’ll need some guidance for selling high-ticket items. Here’s how you can make ideal high-ticket sales funnel.
1. Find Your Ideal Client Base
As you’re selling products/services that are expensive, you can’t expect everyone to buy them. To generate leads for your high-ticket products/services, you first need to know who they are.
Your ideal clientele is more than just a profile. The ideal client is the person you want to target via your email marketing campaigns. They’re the type of person you want to show your social media posts, and they’re the type of people who want to buy your products.
Your ideal client base is dependent on the type of product/service you’re trying to sell.
2. Find the Right Lead Magnet
If you know how, you can generate leads from anywhere. You can use checklists, blogs, social media, in-depth online guides, templates, and so much more to generate leads.
Lead magnets are so easy to make when you’re aware of what you need to do. For high-ticket items, you want to make sure customers do a little bit of buy-in.
If a prospect is willing to spend a small amount for a deposit, it means they’re interested in whatever you have to offer.
Asking prospects to make a deposit is a great way to weed out those who are just there for free stuff. No one wants them on their list.
Asking for a deposit isn’t just for weeding out freeloaders. It shows that customers have a degree of trust in your product/service.
If you want to bring in as many leads as possible, try doing a webinar. Why? Here are some reasons:
- Webinars require prospects to buy in, and it helps build trust.
- You don’t have to charge for a webinar. Sometimes, it can come off as a hurdle than a stepping stone. Even the wealthiest may not be willing to spend money if they don’t trust your brand.
- You can use it to show off. When selling something expensive, showing off is necessary. Show off what you have to offer, and compel customers to buy it.
- Webinars are extremely effective in pushing your attendees to your desired goal.
3. Focus on High-Touch Nurturing
Low-risk of low-ticker items means sellers don’t have to put too much effort and time in selling. Someone else is surely going to buy what you have to sell, that is the nature of low-ticket items.
But if you’re asking prospects to spend $10,000 for a 3-day seminar, the stakes are higher. You want to show them why they should spend this whopping amount. Moreover, your potential customers won’t treat it as a low-ticket item.
This is why high-ticket businesses have to put more time and effort into nurturing leads.
You have to keep this in mind while building a high-ticket sales funnel. Businesses need to connect with customers for longer. A single email, a lead magnet, and a landing page won’t get you sales.
You may have to send 10 or even 20 emails to convert the audience into leads. Sometimes, even that’s not enough. You may want to use targeted ads, personalized videos, lengthy landing pages, and more.
4. Incorporate Social Proof
Social proof is the best thing you can do for your sales funnel.
It can be anything, customer testimonials, case studies, online reviews, direct quotes, or something else completely. The goal is to show prospects that others love what you’re doing.
Someone who’s spending thousands of dollars will have some fear. You need to show customers “Hey, we can do this for you, others are loving it so you probably will too”.
High-risk items come with a higher risk level, so you need to make sure you nip those fears in the bud.
So, when you’re building a high-ticket sales funnel, make sure to include social proof wherever you can.
Customer quotes are also a great addition to your emails, and they can also be a nice relief in your emails and sales page.
If you can, add video testimonials from customers. Putting a face behind a name adds a lot of trust for customers.
5. Make a Detailed Lead Qualification
To make sure your high-ticket model works best, you need to provide nothing but high-quality leads to your sales team.
As the value of sales is much higher, you don’t want to miss out on any quality leads. You don’t want your staff wasting time convincing low-quality leads.
To overcome this challenge, you need to build a system that qualifies your leads before your sales team gets on the phone.
Most sales funnels include a qualification question somewhere throughout the buyer’s journey. It could be just one or two questions here and there, nothing too complicated.
But for high-ticket sales funnels, you need to dial it up to 10. You need to ask as many questions as needed to qualify leads. Ask questions that make it easy to understand who your ideal customer is.
6. Put Your Price Up Front
As I said above, there’s a huge level of risk associated with high-ticket items. So you want to be as clear as possible about the price tag. Don’t hide it in the corner of the website, and don’t put it on some other page. Be clear, and bold about your price.
This way you’d be able to qualify the leads and get rid of anyone who can’t afford the product/service.
Do keep in mind that you don’t push the price on prospects. They should know what they’re about to spend, but they shouldn’t feel burdened by it.
Don’t bring up the price during the lead magnet part of the funnel. Keep the price in an obvious place on your website.
Some of the best practices to show pricing include:
- Teach the audience which package is ideal for them.
- Make highly-visible CTAs.
- Differentiate between multiple packages.
There’s one thing that is incredibly important is to set an anchor price beforehand. A price anchor is a price point that you set for a similar product before you reveal the actual price.
7. Close with a Human
Up until now, most of the interaction for your customers has been with a screen. When someone buys a $10 electronic item from Amazon, they don’t care about talking with a salesman.
But high-ticket items require a certain degree of convincing for customers. Before making a big purchase customers want to be assured that they’re taking the right step.
You’ve done everything right up till now, and it’s time to close. Get your leads on phone, talk to them, and convince your leads to buy.
To make sure you don’t lose customers on the phone call, here are some things you can do:
- Make sure all the decision-makers are on the phone.
- It’s better if it’s a video call. It’s great if your customers interact with a human face.
- Set expectations beforehand with a simple email. It’s best if your email outlines what to expect from the upcoming call.
- Review the benefits of products or services.
- Address any lingering questions your customers may have. Take note of these questions so you can include them in the FAQs for the future.
- Ask for the sale. It’s a bit blunt but tries to close on the call itself.
- Congratulate customers on their decision to make the purchase.