What Does High Ticket Closing Mean?
High ticket closing is a method that helps companies sell expensive goods or services. Think about international flights, cars, big appliances, and home improvements. Usually, a single high-ticket sale is worth at least $500, so it’s not something that customers buy often.
If you can master this sales process, you can keep increasing your profit margins even if you only have a few clients. High-ticket closers help you take your business to the next level by attracting people who care more about their customer experience than about price.
Comparison of High-Ticket Closing and Low-Ticket Closing
The biggest difference between low-ticket and high-ticket closings is how buyers and sellers get there.
Think about what it’s like to walk through the makeup section of a department store. Sales reps may give you a free sample of a product if you are in their target group. If you take it, they may start talking to you about the features of the product and move you quickly toward a close.
This is a traditional way to close a small sale. It focuses more on the benefits of the product or service and less on the unique needs of the customer. In low-ticket sales, it’s all about showing why a product or service is worth its price by showing how valuable it is.
Now, think about how you look for a wedding dress. The client starts this sales process by setting up an appointment at the store. They are free to look around, but most of the time they work with bridal consultants who learn about their style and the theme of their wedding. Then, bridal consultants give clients a custom selection of dresses and help them imagine what they might look like on their wedding day.
Good salespeople who sell expensive goods or services also take a consultative approach. They help clients find the best solution for their needs and problems. It’s not about getting customers to buy your most expensive product; it’s about making sure they’re as happy as possible. High-ticket closers aren’t pushy, and they aren’t afraid to move slowly and steadily to close a deal.
The Path of a Buyer
From the buyer’s point of view, a low-priced purchase comes with much less risk than a high-priced one. Compare buying a bottle of shampoo for a few dollars to spending thousands of dollars on a car. Even a simple ad on Facebook could convince a customer to try a new shampoo. On the other hand, the same person might spend hours researching cars before even talking to a salesperson at a dealership.
Even if the price difference is smaller, like between a $60 coffee maker and a $500 espresso machine, customers will treat the $60 purchase much less seriously than the $500 purchase.
4 Ways to Sell Big-Ticket Items
Sales of expensive items start with getting good leads. But how do you close the deal once you start qualifying your leads and attracting the right people for premium products?
As you now know, it’s not as simple as putting out a low-touch social media ad or talking up a product’s features to close a high-ticket sale. But with these four tips, you can get your current and potential clients to buy things that are of high value.