4 Income-Boosting Lessons Learned from Creating High Ticket Training Programs
by Alice Seba
Owner PublishforProsperity and
Done-for-You Content Provider Since 2006
The opportunity to sell information and turn it into a living online is immense (Global Industry Analysts projects it to be a $241 billion industry by 2022). All we have to do is look at marketplaces like Kindle, ClickBank, Udemy and others like it to see online teaching is a booming business.
Now when you think of those platforms, we see many different price points. On Kindle, you can get information for as little as 99 cents or even for free. And of course, marketplaces like ClickBank and Udemy offer products at a wide variety of price points.
And the reason is simple. All price points work, but there is something to be said about high ticket programs. I've been selling products at a wide variety of price points and I always come back to high ticket items because they boost my business greatly.
If you're thinking of getting into high ticket online courses, here are 4 lessons I've learned that I think you'll find helpful too.
#1: Your Happy Customers Want More
Selling lower ticket items is a great model and absolutely nothing to sneeze at. Most of my products are low ticket. It's an easy way to get a lot of the customers through the door and give them a taste of what you have to offer. Of course, since you're delivering stellar content and guidance, they're going to want more and the more they already enjoy your material, the more willing they'll be to invest larger amounts into their education with you.
In short, your happy customers want more, so give it to them!
#2: You Have to Sell Less to Make More
This is a simple math equation, but in addition to having to sell less to make more, it's often easier to sell a higher ticket product. When you sell low ticket products, you always have to make up for it in volume. If you have the list, advertising dollars or affiliates to help you do that, it's certainly doable.
When you only have to sell 10 products at $197 to make $1,970...that seems a whole lot more doable than 115 sales at $17, doesn't it?
#3: Make it As Easy as Possible
So how do you differentiate between a $17 and a $197 product? How do you convince your customers it's worth the investment?
Well, there are a lot of techniques you can employ, but one thing you should focus on is making participating in your program as easy as possible. What can you do to get them to results with the least effort possible? Nobody wants things difficult, so figure out what you can do to do some of the work for them.
Here are 3 ideas to get you started:
Include Templates: If you're teaching them to reduce their debt, make budgeting templates, fill-in-the-blanks letters to creditors or whatever they need to accomplish the goals for your course.
Add Interaction: Making your course interactive provides built-in accountability and they're more likely to take action. Whether it's talking with you about their progress or participating in a community related to your program, when your student feels like they have someone waiting for them to take the appropriate steps, they are more likely to take them.
Do Some of the Work: Offer done-for-you components, where applicable...and charge a premium for them. If you're offering a weight loss program, offer custom menus or exercise plans. Depending on how much you're already charging for the program, these extra services might be at a higher membership level or can be offered as an upsell.
#4: High Ticket Customers are AWESOME!
Talk to anyone who has sold high and low ticket products and they'll tell you their high ticket customers are almost always more easy going. Oddly enough, people who pay less often have higher expectations, are less patient with any issues that may come up and can be a royal pain in the butt. Obviously, that's not everyone...but it's a generality that always seems to ring true.
It's likely because the people who are willing to pay more also see greater value in what they purchase. Someone who is only willing to pay $17 for your expertise doesn't really value it...and they're more likely to have higher, and often unrealistic, expectations.
In short, selling higher ticket products can make your life a whole lot easier and your business much more lucrative.