One key to business success is knowing how to sell your high-priced items – the consulting services, personal coaching sessions, and luxury pieces whose price points tend to deter sales. Cultivating buyer interest and closing the deal on these items takes a special kind of marketing. Luckily, with the advent of Facebook and other nontraditional advertisement platforms, targeting and connecting with high-end clients has never been easier or more affordable.
Why Attract High-End Clients?
High-ticket sales need high-end clients. While acquiring more clients will always be an important staple in business, acquiring the right type of clients is infinitely more beneficial when it comes to moving higher-priced goods and services. Attracting high-end clients not only leads to better profitability, but also a more committed client/business relationship, increased company value, and a bigger impact. To make high-ticket sales, the question shouldn’t be whether to make high-end clients your target audience but how to capture their attention.
Making Advertising Profitable: The Basics
On any paid advertising platform, the goal is to get your cost per acquisition (CPA) lower than your average order value (AOV). You must pay attention to these two key metrics if you want to ensure a return on investment for your advertising campaign. The AOV tracks how much each client spends when he or she places an online order. To calculate your company’s AOV, take your total revenue for the month and divide it by the orders you received. For example, if you made $50,000 in sales, with 15 orders placed, your AOV for the month was about $3,333.
The higher your profit margin, the higher your CPA can afford to go – thus, the more money you have in your advertising budget. Increasing AOV is possible with the right tools at your disposal. For example, cross selling when a client puts an item or service in the basket can tack on additional sales of items the client otherwise may not have purchased. Maximizing your CPA/AOV ratio is also possible with affordable, optimized advertising. Facebook is a great platform for engaging with high-end clients while maintaining a positive CPA/AOV balance. If you can optimize your advertising and achieve twice the AOV for your CPA, advertising isn’t a matter of how much can you spend, but how much traffic you can find.
New Media Sources for Marketing to High-End Clients
Facebook advertising is new media platform that has proven highly successful with pushing high-ticket items such as expensive event tickets, personal consulting services, and pricey digital services. Facebook advertising enables an entrepreneur to narrow his or her target audience to a very precise niche – for example, clients who only make a certain level of income or clients who live in a specific high-end community. Facebook places the ideal niche right in your crosshairs, making it easy to get very particular as an advertiser.
Facebook advertising allows marketers to speak to the right people, with the right message, at the right time. Facebook and similar platforms, such as Twitter, LinkedIn, and YouTube provide affordable, pay-per-click (PPC) ad options and an outlet for fast, simple sales. With just a two-step sales funnel, entrepreneurs can make Facebook advertising work for them, sealing high-price sales with remarkable ease:
- Create a lead magnet. Your lead magnet should generate leads and attract your ideal client. The goal of your lead magnet isn’t to grab the attention of as many people as possible, but of the right high-end clients to sell your high-ticket items. To do this, address a specific issue your ideal client has.
- Nurture your leads. Once your Facebook ad has engaged with the right people, you need to engender trust and kinship with your leads. Your ad should include a link to a piece of poignant content that positions you as a thought leader/expert in your industry.
Social media gives entrepreneurs a never-before seen way to identify, target, and speak to your ideal high-end clients. Keep up with the cost per click (CPC) of your Facebook ad to ensure your CPA/AOV ratio is still intact and enjoy the highly specific leads your ad will generate. Taking advantage of affordable social media advertising programs is one of the best ways to move your high-ticket services.