Most entrepreneurs are looking to increase their revenue with big ticket offers, but first it’s important to understand what a big ticket offer is, the pros and cons of offering them, and how you can sell yours.
1. What are big ticket offers?
Big ticket offers are typically priced at $2,000 or more, and they can be a great way to grow your own business and generate revenue for yourself.
When someone purchases something for $200 versus $2,000 dollars there is an expectation that there will be significant additional benefits with the purchase (e.g., better quality).
So not only is the cost higher, so are the benefits, the value, and your cost to create and deliver it.
2. What are the benefits of a big ticket offer?
People who buy products or services at higher prices are typically much more invested in them and more likely to have higher levels of success with those products or services. That’s one of the main reasons why big ticket items are great for businesses.
There is an increased likelihood of success because there are less sellers that you are competing against for their attention in comparison with lower priced products.
Plus, if you can keep your expenses in check, they are very profitable.
3. The disadvantages of selling a big ticket offer
They can take more time and effort in terms of marketing and sales, plus additional individual attention such as 1-1 sales calls.
Not everyone can afford your more expensive offers, so you will need to be focused on bringing in the right leads from the start of your sales funnel. This can also take more time and effort to perfect on the front end.
It can take longer to warm up your leads before they can save up to afford your big ticket offers and for you to build up trust with them.
4. Why you should have a low-ticket offer (Tiny Offer®) as an introduction to buy your big ticket offer
After you build your list and audience with a Tiny Offer®, it’s very likely that you will already have all of the big ticket clients you need to reach your revenue goals.
It all comes down to upgrading your existing clients into your big ticket offers that can help them even further. This increases the lifetime value (LTV) of those customers.
It’s also way less expensive to keep a customer than to attract new ones. So once you’ve already paid to acquire them on the front end with a Tiny Offer® (which means your ad spend should be close to or at zero), it doesn’t cost as much to keep them as happy customers as it would to acquire a big ticket lead from cold traffic.
Would you rather…
Spend $100 – $250 per person to acquire leads from cold traffic
Spend $0.00 to acquire a lead through a Tiny Offer funnel that you later convert to a big ticket buyer?
5. Tips for selling your own big ticket offers
My number one tip is this: believe in what you’re selling. If you don’t believe in the value, then your potential customers definitely won’t either.
Decrease their fears and doubts by offering guarantees to remove the risk of purchasing.
Share testimonials and results of clients and students that have worked with you.
After believing in your big ticket offer, my favorite strategy is to nurture the leads you brought in from a Tiny Offer through valuable content that is all connected as a long-term nurture strategy, such as emails, social media content and blog posts that are all focused on moving your customers along their journey to upgrading them into your big ticket offer.
There are many ways to increase the number of big ticket sales you make in your business, but it can be difficult to know which strategy is best for you. We’ve helped some of our clients get more than 2x their previous year’s revenue by using my strategies and we’re confident they’ll do wonders for your business, too!
Are you looking for help creating your further, faster strategy using the Tiny Offer to Big Ticket pipeline? Book a free call with a member of my team!