Many sales people struggle with closing high ticket sales. They try to put their product or service in the customer’s head and hope that something sticks, and they get the sale. The 5% Institute teaches high ticket closing techniques. One of the most important tips to close high ticket sales is to position your product or service as the only option. This will put your product in the prospect’s mind and allow them to feel confident about buying it.
High-ticket sales are a valuable way to increase your value in the marketplace, and revenue from individual clients. Salespeople who are successful at this kind of sales can apply the 6A sales framework, which Mike Killen popularized. In this type of sales funnel, you must take a more personalized approach to ensure client satisfaction. Here are some ways to sell high-ticket sales:
Consider your buyer’s emotional state. A high-ticket sale is often limited in scope. Try to incorporate exclusivity to attract the right audience. Many buyers weigh their need to solve a problem against the fear of losing their investment. By mitigating buyers’ fears, you can win the sale. Your high-ticket salespeople need to be confident enough to ask for a higher price, without feeling guilty or pressured. Regardless of the product, selling high-ticket products is an excellent way to boost your profit margin.
The key to negotiating when closing high ticket sales is to develop your communication skills. Typical sales techniques will not work here. Prospects have the money to buy what you have to offer but still need time to think and research. Your goal is to convince them that your product or service is better than what they currently have, so you must show them how it will benefit them. A Ferrari buyer, for instance, isn’t interested in the technical specs of a car; they just want a cool looking one.
Remember, you are trying to catch your buyer’s weakest moment and squeeze a last-minute concession. Instead of saying, “No, we’re not happy with this price,” ask, “How can we help you?” and respond with additional questions or a trade-in offer. Be prepared for the buyer to express an emotional reaction during this process, which is designed to elicit a response from you.
Asking for money
For many people, asking for money at the close of a high ticket sale is not the most comfortable idea. The process of closing high ticket sales is often fraught with anxiety because most people are uncomfortable asking for money, and are not sure how to approach it. While the idea of closing is difficult, the fact is that all the steps leading up to it were successful. Listed below are some tips to help you make the best use of your closing time.
In today’s world, personalization is no longer a luxury. Customers expect at least a basic level of personalization. Netflix recommends shows based on your viewing history, and Amazon displays products that may be similar to what you are selling. The best personalization campaigns start with a basic understanding of your prospect’s questions. The more personalization you can provide, the more satisfied your prospects will be with your products and services.
Closed high-ticket sales are often based on follow-ups. Many of these sales are more expensive than average purchases, and loyal customers typically spend more than new ones. However, you can’t expect to close a sale right away. The goal of follow-ups isn’t to press your lead into making a purchase right away; instead, they’re designed to foster the relationship. This gives shoppers the opportunity to ask questions and provide additional information. As a result, these high-ticket sales tend to yield higher profits.
One of the most overlooked skills in selling is empathy. Empathy in sales is often overlooked, but it’s crucial for business success. Empathy helps you connect with your customer on a personal level, which increases your chances of closing the sale. As a salesperson, you can start by identifying your customer’s needs. After all, they’re not going to purchase your product if you can’t relate to them.
You can begin by listening intently to your customer’s concerns. Ask them if there’s anything that would make their life easier or to alleviate their problems. You’ll want to paraphrase what they say and ensure that they’re clear about their buying conditions. After understanding their full problem, analyze their needs and align your solution with their needs. Empathy can make all the difference in the world when it comes to closing a high ticket sale.
Building trust is vital for high-ticket sales. Your clients must trust that you are a trusted advisor, and they should feel comfortable talking to you about the products or services they’re considering. The most common reason that sales fail is due to budget, so be sure to speak with decision makers. If they don’t feel that you have their best interests at heart, they’ll be less likely to purchase from you. Fortunately, there are many ways to build trust with prospects.
To build trust with high-ticket clients, start by generating quality leads. Using low-touch social media ads or talking up a product’s features isn’t enough when it comes to closing high-ticket sales. You need to personalize the experience, which isn’t as simple as building rapport with low-ticket customers. Instead of relying on low-ticket tactics like chatbots or email newsletters to convert your prospects, you need to make sure you create a shopping experience worthy of the price.