Three Crucial Pillars to Generate High-Ticket Sales
How often do you have a great sales meeting where the prospect is bought into your high-ticket product and is ready to sign tomorrow but suddenly, “tomorrow” turns into “soon”? Soon then keeps getting extended and you’re left bewildered and frustrated - what did you miss?
In this post, we are going to talk about three crucial pillars that need to be in place with a prospect to generate a high-ticket sale.
Yes, “sales” tends to be a topic that intimidates many business owners. This is for good reason. If you sell a high-ticket product or service, you have to convince someone to give you a lot of their hard-earned money in exchange for a product or to perform a service that provides them with equal or greater value.
Think about that for a second.
How do you get someone to fork up $1K, $2K, $5K, $15K, or even $100K? You can’t just walk up out of the blue and ask them for the big bucks. They are going to think you’re crazy. And it’s difficult enough to do this for a one-time project; but what if your product/service is a monthly service and you need your clients to fork up that amount every month.
This is a mental battle that many business owners have to go through. Business owners know they need to generate sales to run their business. But they struggle to get in front of and convince other business owners that it’s worth their time to invest their money into this product/service.
So what’s required to generate these high ticket sales?
Three Pillars to Generate High Ticket Sales
Assuming you have your ducks in a row - I.e. you have a defined target audience, website, a product/service ready to deploy (with staff, systems, etc.), messaging and positioning, marketing material, etc. - you have to get in front your target audience and then you have to sell to them.
But how do you actually get the sale? You need to control these next three crucial pillars to generate a high-ticket sale.
Product-Market Fit
This may be a little obvious but it’s something that many businesses miss the mark on. You need to have a product/service that satisfies the need and/or solves a problem that is present for players in your market. And that includes offering that product/service at a price that the market deems as fair for the value you are providing. (If you really want to blow this out of the water, products that provide 10X in value are the ones that will win).
Trust
This is a high-ticket sale. This is not an impulse buy. If someone is going to invest their hard-earned dollars into your product/service, they need to trust you and your company enough to make that decision.
So how do you establish trust on a personal level? You need to build a relationship, and you need to nurture that relationship. This is not going to be a one-time thing. Building a relationship does take some time and effort.
You also need to be intentional about wanting to build a relationship with a prospect. Most people will leave out their intentions when having a conversation with someone for the first time. Whenever we are on calls with prospects, we lead off with a line like this:
“Hey [name], thanks so much for jumping on this call with me! Just to let you know, my intention for this call is to get to know you and to start to build some form of business relationship with you. I’m all about purposeful networking and adding value to those in my network. I’m not about just adding people on LinkedIn and never having a conversation….”
Feel free to use the above or some version of the above that better matches your voice and tone.
To establish trust on a company level, this is where marketing comes into play. A great website, great case studies, a solid social media presence, value-adding content, etc. All of these elements will give your leads peace of mind in knowing that they could be working with someone who is legit, can get the job done, and has the track record to prove it.
Timing
This is the trickiest of the bunch. It’s hard to control when the timing is right. You have no control over a prospect’s decision-making process, their finances, competing internal initiatives, etc.
So how do you control timing? By staying top of mind. Use your systems to check in periodically with your prospects - automation helps a lot here. Provide them with value on a consistent basis. Become that source of information (relevant to your product/service) that your prospects lean on. Do this on a month-to-month basis and you’ll see that when the time is right, you’re going to be that person they think of.
Generating high-ticket sales is a process and the three pillars above are crucial to generating your desired results. People are only willing to pay for a product/service that actually satisfies their needs or solves a problem. But it’s not just about having a good product/service. It's essential to build trust with prospects by first building and nurturing a relationship. All of this takes time, which sometimes we have very little of, so take advantage of automation within your systems and processes so that you can remain consistent with prospects while focusing on other areas of your business.
Feel free to contact us if you’re looking for help with your sales systems or sales processes, we’re happy to be a sounding board at the very least and we’ll help where we can. We are all about providing value to our network after all.