High ticket sales can be notoriously difficult to close. When you’re not competing on price, other areas of your business have to truly shine. But what are high ticket sales exactly, and why is it so difficult compared to selling less expensive products?
In this article, we’ll take you through the basics of high ticket sales and examine how it’s a different world to high volume, low ticket sales.
What Are High Ticket Sales?
When people talk about high ticket sales, they’re referring to the sales of products and services at a higher price point. People have different ideas of where high ticket sales begin, but we think it’s somewhere around the $500 per sale mark.
High ticket sales are different from low cost ticket sales not only because of their price points, but usually with business models, service, and profit margins too. Because you can’t compete on budget like you can with low ticket items, you need to focus on other areas of your marketing and sales.
To be successful at high ticket sales, business owners need to be customer-focused and have an eye for opportunities to sell something highly valuable to the right market. It’s a combination of excellence at product research and running an ecommerce business.
Popular High Ticket Products and Services
People don’t become successful at high ticket sales for no reason. Finding the right products is all about choosing a profitable niche, recognizing what’s trending, and then setting up systems that allow you to serve customers well at scale.
Here are some of the best high ticket products and services sold by online businesses, dropshippers, and ecommerce stores:
- Cars and vehicle accessories
- Expensive hobby gear — e.g. cycling, music, and watersports
- Kitchen appliances — e.g. mixers and wine coolers
- Home health — e.g. luxury showers and saunas
- Gardens — e.g. sheds, greenhouses, and luxury furniture
- Online courses
As you can see, there’s a huge range of niches here that you can specialize in. Choose products carefully based on your passions, expertise, trends, and profitability.
Benefits of High Ticket Sales
There’s a lot of interest in the high ticket sales arena, and it’s no surprise to see why. The draw of those big numbers can certainly look more appealing than products that cost $5 each.
The idea of seeing more numbers on a screen isn’t the only draw. Here are the top benefits of moving into high ticket sales.
Attract Premium Customers
When you’re selling products or services with premium pricing, you’re going to attract premium customers. These high-end clients have a large disposable income or a deep interest in the niche you’re selling in. So, if you have a great product, they could become a loyal customer and refer new clients to you.
It's important to note that premium customers tend to expect more from the businesses they buy from. They’re looking for attentive, personalized, and super responsive service. Recreate that luxury, face-to-face service for your online store with our video chat solution. Your customers won’t need to leave your website to get that personal, interactive service that they crave — meaning you can build trust and rapport with them straight away.
Gain Brand Recognition in a Luxury Space
Operating in the low ticket product market can be tough. Customers are always looking for the best price and comparing bargains. Plus, with more customers, you’re dealing with more support and service requests every day. Moving into the high ticket sales space means you can gain brand recognition in a luxury market instead.
Selling expensive items can put you firmly in the luxury, aspirational market — if you pay attention to other areas of your business. Focus your branding and marketing on being an ecommerce store that offers premium products and the lifestyle that goes with them. Get this right and you’ll become one of the top players in your niche.
Receive More Revenue With Fewer Customers
With a higher price point, you don’t need to sell as many products or services to see a healthy revenue and profit. High ticket offers mean that you can make a lot of money by selling high-quality products to a select group of customers — rather than selling to thousands.
Not having to sell to so many customers has a lot of upsides. You can concentrate your marketing activity on a smaller group, which gives you a chance to refine your ads and targeting. You can also spend more time and money getting to know your customers better so you can serve them fully.
Having fewer customers means you can create an amazing experience for them. For example, instead of relying on a generic chatbot or live chat, you can give them the opportunity to connect with you directly over a live video call. That’s a level of service that you can’t replicate for high volume, low ticket orders — unless you significantly increase your headcount.
What Makes Selling High Ticket Items Different
It's clear that selling high ticket items requires a completely different approach to a business model that’s focused on low value sales. Every step of the journey requires research, attention to detail, and refinement to create an environment where you can bring in high value sales.
The high ticket sales experience exists throughout your organization, but it’s especially important for marketers and salespeople to drive the approach. Here’s what makes high ticket sales different across three main areas.
1. Customer Persona
Every successful business needs to research and understand its customers fully to can create an accurate customer persona. With high value sales, your customer will look very different to low value product and service businesses.
At this higher end of the market, your customers are likely to:
- Have a pain point or problem that they’re eager to solve
- Be willing to invest significant money in your product, service, or experience because it benefits them
- Expect a high level of service and support
- Expect to deal with experts who can advise and make recommendations
Use these insights and your own research to create a detailed buyer persona for someone in your target market. Include information like their age, location, career, interests, and pain points.
This compelling customer persona can drive your marketing strategy, lead generation, and sales process. Knowing your customer inside-out helps your team close sales calls, offer relevant support, and make strategic recommendations for upsells.
2. Buyer Journey
The customer journey for a high ticket vs low ticket sale can look very different. With such different price points in play, a customer needs to carefully consider a high ticket sale and often invests more heavily in getting to know you first.
Essentially, while low cost products are an easy impulse buy, people are much less likely to impulse buy an $800 greenhouse on their credit card. This means you need to tailor your use of tools like social media, email marketing, and webinars accordingly.
Instead of running promotions and ad campaigns about limited-time offers, attract and retain your customers by being seen as an expert in your industry. As you’re not competing on price and deals, you can offer your potential customers a more in-depth, personalized experience.
High ticket customers are more likely to fully research your offer through testimonials, case studies, and asking people they trust for their opinions. It’s a big, important purchase, so your marketing activity and sales funnel need to take this into account.
The high ticket sales customer journey is often focused on nurturing a lead and building a client relationship. This can take some time, and you’ll need to not only invest in impactful customer service but in your brand, reputation, and product quality too.
3. Customer Service
When it comes to customer service, high ticket buyers require more attention and a more specialized approach. They’re investing more of their money and time in finding the right product, so your team needs to offer them an experience that matches that.
Amazing customer service can be the difference between making a sale or losing that customer to a competitor. To attract and retain high ticket customers, you need to be proactive and create content that helps educate, reassure, and support your audience. You also need to be reactive and available to talk when they need it.
A great way to offer high-quality, reactive support is through live video chats. With ServiceBell, customers visiting your website can digitally "ring the bell" and you can respond with a live video chat with one of your experts. This recreates that personalized, luxury experience that high-value customers are used to from in-person sales.
When a customer buys a product, the service shouldn’t end there. Continue to develop the relationship with your customers — schedule a follow-up phone call to see how their product or service suits them, and continue to find ways to stay present and offer relevant, helpful information.
Master High Ticket Sales With Amazing Customer Service
Getting high ticket sales right is about more than just perfecting your product and pricing strategy. You need to go all-in on investing in your brand and customer service too, so you not only stand out from competitors but also offer your customers a first-class experience.
Connect with your potential and existing customers through live, one-to-one video customer support with ServiceBell. Get the experience with our free plan that lets you enjoy 10 calls per month with your website visitors — start your trial today.