[DAY 95 OF THE DEEP END PROJECT]
“High Ticket Offers baffle me!”
“Should I do High Ticket? Should I do Low Ticket? What’s the difference, where do I even begin? It’s giving me sleepless nights”
These are actual words on a Facebook Post.
Now I don’t lose sleep on my offers and I think neither should you.
But if you’ve been in a similar boat and if the thought of creating High Ticket Offers gives you insomnia too, then today’s blog is dedicated to you.
I am going Full Monty on all things High Ticket Offers, The Good, The Bad and The Ugly.
By the end of this article today, you’d have a complete clarity on
- What do High Ticket Offers Mean?
- What are the pros and cons of having a High Ticket Offer
- And finally, a definite answer on whether you should have a High Ticket Offer in your suite of offers or not?
Everything I share here is based on my experience of selling High Ticket Offers upto $27000 and helping my clients do the same.
Pour a glass of chilled La Croix, let’s begin!
What do High Ticket Offers mean?
Let’s just start off by saying that as with anything in business, creating High Ticket Offers is not black and white. It is 50 shades of gray minus the red room.
There’s no line in the sand where a High Ticket Offer begins. However, for the purpose of clarity, let’s just say we can define Offers into 3 buckets.
Low Ticket – any offer that ranges between $1 to $500 (approx)
Medium Ticket – any offer that ranges between $500 to $2000 ish
High Ticket – any offer that is over $2000
Some people will say that a High Ticket should start from let’s say $5000, but like I said before there’s a huge gray area here. Besides, I don’t like to define offers just in terms of pricing.
There’s so much that goes in an Offer. Your time involvement, speed at which the result will be achieved etc.
Pricing is just one piece of the puzzle.
Typically keep this in mind, if something is high in quality, very time involved, time sensitive or needs to be done faster, better – – it needs to cost more!
People pay more to get in front of the line. E.g: A TSA Pre-Check
You pay more for higher Wifi
You have to get a paid subscription to get rid of ads in Spotify
You pay extra for a stress free Ikea delivery and set up and a saved marriage!
I always compare High Ticket to buying a handbag from Target vs Chanel.
Target is your low ticket offer.
Chanel is your high ticket offer.
Think about the difference in your experience of shopping, the ambience, the quality, the design, the checkout process etc.
In short High Ticket doesn’t only mean High Price. It means a High Touch Experience.
It’s the difference between traveling Business Class vs Economy.
What are the pros and cons of having a High Ticket Offer?
There are a lot of coaches out there who will tell you to only sell High Ticket.
They will tell you “It’s the fastest way to scale your business. Just sell High Ticket!”
Not so fast, missy!
You know what I always say “You can’t slap a Chanel Price Tag on a Target handbag” #truth
Let’s see some of the pros and cons of selling *only* High Ticket so that you can make an informed decision.
Pro – Since High Ticket means High Touch, you’ll have to be involved in your offer (at least initially). People are essentially buying “working with you”
Yes, of course there are programs out there that you can join and see associate coaches and experts more than the person who sold you the offer, but this can take a while to build. This is good news because you don’t need a big team to sell high ticket and your profit margins can be great.
In short, you can get started on your High Ticket Offer with almost minimum investment.
Con – Since High Ticket means High Touch, you’ll have to be involved in your offer (yes, this is a pro as well as a con). Especially a con, if you are the kind of person who doesn’t want to be front end with your clients, especially if you are a Coach. Service Providers can still get away without a ton of face time with their clients.
Even then, if providing a first class, High Touch Service doesn’t excite you, then maybe re-think putting a Chanel price tag on your offer.
Pro – High Ticket means you can work with less people. You don’t need thousands of people in your funnel. Instead you can be focused on building 1:1 relationships, referrals, Outreach, Collaboration etc.
You also may not need to invest in paid traffic, atleast in the beginning. You can easily make a lot of money through Organic ways.
Con – Really not a con here, but if your goal is to serve lots and lots of people at the same time, then a low ticket or even a medium ticket would be better for you.
Pro – You can be choosy who you work with. High Ticket means there is a red velvet rope towards you. Not everyone can come in. You can be very selective about the type of client you want. I highly recommend this for people who work in a 1:1 capacity or have intimate group programs.
This is also great because you can track your client’s progress which minimises them falling through the cracks.
Con – There’s no velvet rope, especially if you sell ‘click to buy’. And, if you are selling in Volumes, people can very easily slip through the cracks (this also happens in High Ticket Programs btw, if there are no processes in place to track your client’s performance)
In the end, you have to ask yourself “do I have the resources and capacity to provide my clients with an absolute first class experience?”
I want to mention again that creating a High Ticket Offer is not about slapping high ticket prices on a low quality, haphazardly put together offer.
It is giving absolutely fron-in-the-line access to your expertise and experience.
To answer the question this particular facebook friend of mine was having sleepless nights over : “Should I sell High Ticket or Low Ticket?”
The answer – you decide!
One coach will tell you high ticket is better, other will say low ticket will help you scale.
Everyone (including me) is talking from their own experience.
Noone is wrong. But they can’t and shouldn’t decide for you.
We forget that running a business means trial and error. You will fail.
Launches will flop
Your funnel will stop converting
Your Slo or tiny offer will do great at first and then flop
Same for your High Ticket Offer.
If you are looking for a magic pill, let me burst your bubble “it doesn’t exist”
In the end, businesses who are ready to listen to their intuition, take calculated risks, experiment and are willing to innovate, will last the test of time.
You need to make a decision for yourself based on what you feel most excited about offering.
And guess what, you are allowed to change your mind!
You can sell high-ticket, you can sell low-ticket, you can sell courses, you can sell membership. You can sell high ticket masterminds or a luxurious VIP Day.
You are the CEO of your company. You get to choose how you run your business. Not me, not a celebrity coach.