Selling high ticket consulting, coaching or other services.
High ticket selling is just like other types of sales. Trust, understanding, and product knowledge can go a long way toward closing a deal. If you’re interested in selling homes, luxury cars, businesses, or other high ticket items, think about the relationship between you and the prospect before you consider your sales angle.
The Benefits of working with high-end clients.
Most people I talk with are interested in getting “MORE” clients, which is understandable and usually the first thing I hear from people I talk with. I’ve found that you can have a much more rewarding and profitable business by attracting and working with high-end clients. There are several key advantages to attracting high-end clients beyond just more money in your pocket.
A high-end client is one that understands what it takes to produce a result and is willing to pay for that result.
1) Both you and your client are more committed to the relationship; it makes the relationship feel more like a partnership. Which in the end is more enjoyable for you and the client.
2) Real change comes with a cost. We all know that substantial change doesn’t just happen overnight. By charging more, you’re able to do more contribute more real value to your client.
3) You’ll be able to make a bigger impact. Many coaches and consultants are afraid to charge higher rates because they’re not sure they are offering the value. The problem is you’re not looking at the real value you’re adding and portraying that value to the client in a clear manner. If you’re helping a client bring in an additional $1,000,000 in revenue, then you are undervaluing your service by only charging $10,000.
So how do you attract and sell high-end clients?
The most important aspect of attracting and working with high-end clients is you need to provide measurable success that provides a real difference in your clients business.
The sales industry is nearly synonymous with the art of persuasion. In order to close a deal, you need to make someone see the world from your perspective. In other words, you need to sell yourself and your idea as much as you need to sell a product. Regardless of the product and your background in sales, you can use these tips to transform your sales approach:
Establish trust and develop a high-end service that solves a great problem for your client and provides actionable results. By aligning your message with your value to ensure you’re selling a great service, you will establish a trusted reputation as an expert. Remember, we live in a digital world. People often conduct research, look for the company and product reviews, and ask others before they sit down for a serious conversation with a salesperson, broker, or consultant. In other words, they will know if you lie or don’t know your brand. To establish trust:
Listen. Many sales representatives start in on a pitch before they truly understand a prospect’s needs. Early in the relationship, spend time trying to understand your prospect’s motivations. Use analytics and do your own research on your prospect just as your prospect will do on you. For high ticket items that decision makers may spend more time exploring, understanding your prospect’s needs will help you craft a personalized pitch.
Know your industry/product. Don’t fall into the trap of half-researching your pitch. If you claim your product is better than a competitor’s, you need to know facts to support your assertion. You don’t need to know everything, but you need to know details and project a willingness to find value-adding answers for your prospect.
Make connections and personalize your strategy. Look for personal, professional, and past customer connections between your prospect and your world. If you can relate a story about a prior business owner who successfully profited from a business sale under similar circumstances, your prospect will feel confident in your ability to handle the transaction.
2) Practice extemporaneous presentations. A rehearsed pitch, conversation, or presentation will often come across as boring, irrelevant, or unnecessary. Practice your basic pitch or elevator speech, then extemporize! If you sell a luxury car, for example, and your prospect doesn’t care about the sound system, skip that part of your speech and spend more time talking about the seat warmers, luxury materials, and service. If you can alter your “script” to match your prospect’s needs, you will provide more value during the sales process.
3) Gauge receptivity. Someone with a $10k budget will not purchase a $30k item, regardless of your strategy. Unless you present a reasonable purchasing strategy and really show them the value in your services. Ultimately let low-conversion prospects go, learn to turn away clients. At first turning away clients will be difficult but it will free up your time to work with truly great clients and charge what you’re really worth.Spend time building relationships with prospects who match your team’s sales personas. Ultimately, these prospects will more likely lead to sales and long term sales relationships.
4) Position yourself as an expert in your field and personalize your message. If people are going to be paying you tens of thousands of dollars you need to make sure you are the absolute expert in your industry. Once you feel comfortable that you’re offering the best possible service in your niche, you can use several different PR techniques and sales techniques to make yourself the go-to expert in your field.
5) Simplify, simplify, simplify. In high dollar sales, decision making factors can create significant noise and slow down the deal. A talented salesperson knows how to boil a deal down to its essential components. Focus on value. What experience and outcomes will your prospect obtain if he or she agrees to your proposition? As one Harvard Business Review article related, to succeed in an increasingly competitive world, manufacturing companies need to focus on outcomes instead of the product. The same principle applies to every type of high-dollar consumer and B2B sales.
While these secrets focus on the sometimes complex nature of high ticket sales, business owners, coaches, consultants and agency owners can use them to improve their skills during any sales exchange. Whether you’re selling yourself in a job interview or helping a business close a multi-million dollar acquisition, sales really come down to your ability to persuade a prospect to accept the value in your deal.