It's a great way to get the worst customers, the lowest profit margins, and the least free time outside of work. If you're running a business, high ticket is the way to go. Pump up the value of your product in the eyes of your customers. You're better off making $10,000-$15,000 profit per sale and getting 10 sales than you are making $1000 - $1500 per sale over 100 sales.
If you're accustomed to low ticket sales, you'll probably feel a little strange initially with these higher prices. You'll ask yourself "Who's going to pay $10,000 for my online course?" ... or my web design services, or what-have-you. Those feelings will pass after you start getting some sales. The key is to really maximize your advertising strategy. It can be as simple as a more compelling ad copy that builds more value in your product in the minds of your customers and/or a better camera if you're selling physical products, or simply a different advertising venue - All of that can make the difference between anemic, low ticket sales and a prosperous flow of high ticket sales.
The customers in these higher price ranges are generally much less of a headache to deal with because they have some idea of the value of your product or service already. If you're doing web development, you'll find that these are the customers that aren't going to suffer so much from scope-creep, and you'll have fewer problems with customers insisting on terrible design decisions. They are paying you a glob of money because they understand the value of your expertise. If you're running an online course, you'll notice a similarly huge difference in the quality of customers. Charge $10,000 for a course, and you'll have students that want to pay attention and truly absorb and act on the material that you give them. You'll have better success stories to advertise to more customers, and you'll be able to afford more one-on-one attention to make those success stories happen. If you charge $100 for the same course, you'll get the cheapest of cheap asses, the ones that want to sit on their butt until the world just shifts around them to make all of their dreams come true, the most unmotivated, self sabotaging people.
If those high ticket customers exist in your industry, you should pursue them exclusively and stop wasting your time scraping the bottom of the barrel.
It's a great way to get the worst customers, the lowest profit margins, and the least free time outside of work. If you're running a business, high ticket is the way to go. Pump up the value of your product in the eyes of your customers. You're better off making $10,000-$15,000 profit per sale and getting 10 sales than you are making $1000 - $1500 per sale over 100 sales.
If you're accustomed to low ticket sales, you'll probably feel a little strange initially with these higher prices. You'll ask yourself "Who's going to pay $10,000 for my online course?" ... or my web design services, or what-have-you. Those feelings will pass after you start getting some sales. The key is to really maximize your advertising strategy. It can be as simple as a more compelling ad copy that builds more value in your product in the minds of your customers and/or a better camera if you're selling physical products, or simply a different advertising venue - All of that can make the difference between anemic, low ticket sales and a prosperous flow of high ticket sales.
The customers in these higher price ranges are generally much less of a headache to deal with because they have some idea of the value of your product or service already. If you're doing web development, you'll find that these are the customers that aren't going to suffer so much from scope-creep, and you'll have fewer problems with customers insisting on terrible design decisions. They are paying you a glob of money because they understand the value of your expertise. If you're running an online course, you'll notice a similarly huge difference in the quality of customers. Charge $10,000 for a course, and you'll have students that want to pay attention and truly absorb and act on the material that you give them. You'll have better success stories to advertise to more customers, and you'll be able to afford more one-on-one attention to make those success stories happen. If you charge $100 for the same course, you'll get the cheapest of cheap asses, the ones that want to sit on their butt until the world just shifts around them to make all of their dreams come true, the most unmotivated, self sabotaging people.
If those high ticket customers exist in your industry, you should pursue them exclusively and stop wasting your time scraping the bottom of the barrel.
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