A high ticket item is anything that you can sell for a relatively large amount of money. This is your ‘big fish’ that you will try and promote and depending on the item, a single sale might provide you with enough money to live off of for a week, a month or even a year!
When a lot of people start working online though, they won’t consider big ticket items as an option. Instead, they focus on small-time products like ebooks that they’ll sell for $10 or $20. But if you start selling big time products, that’s how you make the big time and it’s something that a lot more marketers could benefit from.
Why High Ticket?
So what’s so good about selling high ticket items anyway? Why focus on these sorts of products rather than just selling smaller items that are easier to produce?
There are a lot of good reasons but the most obvious benefit of a high ticket item is that you can make a much bigger profit from far fewer sales.
Let’s say that you’re currently selling an ebook for $20. That might be a nice little earner for you but in order to earn a living wage (around $30k minimum) then you’re going to need to sell 1,500 copies. That’s a huge amount of sales to secure and it’s not going to be easy by any means.
Chances are you’ll do this by creating a website. From there, you’ll then start directing more people to your page and after a couple of years you might be getting 1,000 unique visitors a day. Seeing as an average click-through rate for adverts you place on your site will be around 1-10% and an average conversion rate for your sales page is about the same again, this means that you can expect to make one sale every… 1-100 days.
And that’s while working incredibly hard. Sure, if you have tons of products, a great route to market and a huge advertising budge then you can make a fortune from low-paying items. Likewise, if you’re already one of the top bloggers in your niche you might be able to make a living by selling a few items or promoting some affiliate products.
But if you’re just starting out and you want to make real money quickly, then you need to make a bigger profit from each sale.
Let’s say that you’re selling a product for $2,000 and that’s all profit. Now you only need to sell 15 copies of that product in order to make the same $30K. That means you have an entire year to make 15 sales which suddenly becomes a lot easier.
And when it comes to selling high ticket items like this, it’s not about conversion rates any more. Now it becomes about the ability to persuade, to build trust and to create a relationship with your buyer. These are things that you can do right away. As long as you can reach a few people, you’ll have the opportunity to put all your energy into persuading them to buy the product.
There are more benefits to selling high ticket items too.
One is that you’ll now be able to pour all your energy into creating that one product. In turn, that means that you can develop something that you’re truly proud of and that you’re willing to promote because you really believe in it. This makes a massive difference and is a great feeling. Imagine knowing that what you’ve built is something people are willing to spend that much money on – it’s highly rewarding!
And this means that your customers will be much happier. And actually the day-to-day running of a business that sells high ticket items is a whole lot easier than running a business that sells lots of products.
Why? Because with fewer products you now have fewer customers. Keeping 15 customers happy is much easier than keeping 15,000 customers happy.
And ironically, the more a customer spends, the less likely they are to complain! High paying customers tend to be the best type of customers and it’s the ones who buy your smallest items that will often give you the most trouble and try to get discounts.
This seems counterintuitive but it is an observation that Tim Ferriss makes in The Four Hour Workweek and for the most part, it is entirely true. Sell an ebook for $5 and expect people to complain, ask for a refund and generally be awkward. Sell a course for $2,000 and you’ll only attract serious customers who are willing to part with their money in return for value – and that makes your life MUCH easier.
For all these reasons, selling a high ticket item is actually far preferable than selling something cheap. You’ll spend a lot less time marketing yourself and trying to optimize your landing page and much more time building trust and authority, providing
a great service and honing your product to be the very best it can be. You’ll have a few high paying customers and they will be much happier with the service that they’re receiving. With a few sales, you’ll have enough money to live off for the following year. And if your product is a hit? Then there’s no limit to just how much you can earn.
Want to double your income? Well, it’s much easier to go from 15 sales to 30 than it is to go from 15,000 to 30,000!
Getting Started and What You’ll Learn
But despite all this, a lot of people still shy away from selling high ticket items. Why is this?
It comes down to a lot of things but one of the first issues is that they lack confidence. If you aren’t confident in your own ability to provide great value and if you don’t believe that anything you can create will be worth $2,000, then you might simply avoid trying to make anything for that value.
People also tend to do this when selling services. Rather than go after the top clients and offer $2,000 for a web design, they aim for the lower end clients and charge $200. They make much more work for themselves and basically that’s because they undervalue themselves and they undervalue their time.
Another reason that people don’t sell high ticket items is that they don’t know anything about it. They don’t realize that it’s an option and once they do consider it, they don’t really know how to go about it.
There is a ton of information out there on how to set up your own ecommerce store, how to sell affiliate products and how to create ebooks to sell at $10 a pop. But there’s much less information on selling high ticket items.
That’s where this course comes in. Here, you’ll learn everything that you could possibly need to know about how to create a high ticket product and help it to sell like wildfire.
Here’s exactly what you’ll learn:
- How to create a high ticket product that you’re really proud of and that you’re willing to sell for a lot of money
- How to reach the right audience and build trust and authority with them
- Ideas for the types of high ticket items you can create
- The pros and cons of different types of product
- How to build a sales funnel to create trust and make that sale
- How to create a relationship with your buyers
- Examples of some of the best high ticket products and how they sell
- How to create a coaching product
- How to choose a price
- Which tools to use to build your high ticket business
- And much more!
Ready to get started with your own big ticket item? Then let’s get started on this course and let’s start making big bucks!