Are you an entrepreneur who feels like you’re undercharging and over-delivering?
If you’re ready to up-level your business and make more money, high ticket selling may be the answer.
In this week’s episode, we’ll explore the benefits of high ticket selling and when the right time is to make the leap.
What is High Ticket Selling?
High-ticket selling is the practice of selling products or services for a higher price point. This means that you’ll make more money per sale, but you’ll need to sell fewer products or services to reach your desired income.
For example, if you currently sell a product for $50 and you make five sales per week, you’ll make $250 per week.
If you raise your prices to $100 and only make two sales per week, you’ll still make $200 per week.
Now imagine that for your coaching or services…
You could sell one package for $5,000 and sell 4 of those a month to make $20,000…
Or, sell one package for $20,000 to one client.
Benefits of High Ticket Selling
There are several benefits of high ticket selling, including:
1. You’ll Make More Money Per Sale
This one is pretty self-explanatory. When you sell products or services for a higher price point, you’ll make more money per sale. This means that you can reach your income goals faster and with less effort.
2. You’ll Spend Less Time Selling
Since high-ticket items fetch a higher price, you won’t need to sell as many items to reach your income goals. This frees up your time so that you can focus on other areas of your business or enjoy some well-deserved rest and relaxation.
3. You Can Offer More Value
When you sell high-ticket items, you can afford to offer more value to your customers. This may include additional products, services, or even bonuses to help them get the most out of their purchase. Not only will this increase customer satisfaction, but it will also help increase customer lifetime value.
Making the Leap to High Ticket Selling
If you’re thinking about making the leap to high ticket selling, there are a few things to keep in mind.
First, it’s important to have a solid understanding of your target market and what they’re willing to pay for your products or services.
Second, you need to ensure that you can deliver on your promise of providing more value.
And finally, it’s helpful to have a plan in place for how you’ll gradually increase prices so that you don’t alienate your existing customer base.
High ticket selling can be a great way to quickly reach your income goals with less effort.
If you’re thinking about making the leap into high ticket selling, keep in mind that it’s important to understand your target market and what they’re willing to pay, deliver on your promise of providing more value, and have a plan in place for gradual price increases.
Want to learn even more about when the right time is?
In this week’s episode, Chris Kenney, a master sales coach, million-dollar business owner, and sought-after wealth mentor joined me for this conversation.
He teaches undercovered superstars how to break their money rules, rapidly accelerate their income, and live with uncommon freedom & choice.
When he’s not coaching his clients, you can find him speaking on stages around the world, sharing his 7-Figure Sales Secrets with brilliant, talented entrepreneurs, so they can step into their legacy work by shedding the chains of money, shame and underearning.
Chris offers private coaching, group coaching, and online programs designed to support overwhelmed coaches and consultants position, package, and sell high-ticket offers, so they can have more freedom, more money, and the ultimate lifestyle.
We talk about:
[1:40] How Chris started his business
[5:10] The balance between pricing and delivering as a business owner
[12:25] What Gap Establishment is
[14:15] How to know if it’s the right time to raise your prices
[20:25] The biggest challenges when it comes to raising your prices
[22:45] Do entrepreneurs go back on their pricing after raising their rates?
[26:00] The journey Chris takes his clients on
[28:50] Chris’ biggest piece of advice for entrepreneurs