Hi-Ticket Sales

byIanCampbell

324 followers

8 years ago

Hi Ticket Sales

Some years ago I had a close friend who wanted to get into the property market (Real Estate Business). He is a very intelligent and methodical man and I watched his methodology very closely to see what I could learn from his endeavours. At the same time, I saw a ‘property for sale’ on the internet, in a part of France which is my ‘home away from home.’ The property was a classical French 17th century château set in its own few hundred acres of landscaped parkland.

I knew, instinctively that although the address of the property was in an area I thought I knew pretty well, that I had not come across any chateaux that resembled the style and grandeur of this one. However, I digress. This is not the point. I thought about my friend and his putative ambition to get into the property market and suddenly had my moment of enlightenment. What if my friend didn’t expend his energy marketing houses, but became the go-to guy for castles? I gave this idea a lot of thought. The amount of work promoting either house or château was about the same but the dividend was enormously different.

I told my friend of the idea and very soon he was devoting all of his time to marketing and selling châteaux. The properties were more pleasant to visit; the people generally were easier to deal with and the profitability on each sale was off the scale when compared to house sales.

So what is the lesson here? You can sell anything you like through the internet. Some people will advise you to stick to a price point like $47 which is large enough for you make some profit but about the upper limit before people start rationalising how much they are spending. Here’s the thing. If you sell a product on which you make a profit of $5 then if you sell 100 of them, you will gross $500. However, if you have a ‘Hi Ticket’ product which has a profit of $500, you have only to sell one of them to get the same return on your investment, but with a lot less work and overheads.

Two evenings ago I sat through a 2 hour presentation on Sales Funnels. The presenter was very ‘glib’ and it was a shattering experience as after two hours of listening to him I was ready to pay anything not to have to listen to him for one moment longer than necessary. He summed up, saying that ‘we’ could have the keys to his Sales Funnel Kingdom and that it was a snip at $11,000! Not only that, but the first 50 people who stumped up the $11,000 that evening would get his special bonus.

50 people x $11,000 = $550,000 or more than half a million for a few hours’ work. Now that is a really Hi Ticket Business. Now, I am not seriously suggesting that anyone follows this example and I have used examples which are a little ‘over the top’ but the principles are valid. Sell many thousands of products at the cheap end of the market or a few at the high end of the market to achieve the same turnover with much less cost.