Why You Need To Sell High Ticket Items To Make Money Online
What are high ticket items?
And just how can selling high ticket products dramatically change how you make money forever?
A high ticket item is anything that you can sell for a relatively large amount of money. This is your ‘big fish’ that you will try and promote and depending on the item, a single sale might provide you with enough money to live off of for a week, a month or even a year!
When a lot of people start working online though, they won’t consider big ticket items as an option. Instead, they focus on small-time products like ebooks that they’ll sell for $10 or $20. But if you start selling big time products, that’s how you make the big time and it’s something that a lot more marketers could benefit from.
Why High Ticket?
So what’s so good about selling high ticket items anyway? Why focus on these sorts of products rather than just selling smaller items that are easier to produce?
There are a lot of good reasons but the most obvious benefit of a high ticket item is that you can make a much bigger profit from far fewer sales.
Let’s say that you’re currently selling an ebook for $20. That might be a nice little earner for you but in order to earn a living wage (around $30k minimum) then you’re going to need to sell 1,500 copies. That’s a huge amount of sales to secure and it’s not going to be easy by any means.
Chances are you’ll do this by creating a website. From there, you’ll then start directing more people to your page and after a couple of years you might be getting 1,000 unique visitors a day. Seeing as an average click-through rate for adverts you place on your site will be around 1-10% and an average conversion rate for your sales page is about the same again, this means that you can expect to make one sale every… 1-100 days.
And that’s while working incredibly hard. Sure, if you have tons of products, a great route to market and a huge advertising budge then you can make a fortune from low-paying items. Likewise, if you’re already one of the top bloggers in your niche you might be able to make a living by selling a few items or promoting some affiliate products.
But if you’re just starting out and you want to make real money quickly, then you need to make a bigger profit from each sale.
Let’s say that you’re selling a product for $2,000 and that’s all profit. Now you only need to sell 15 copies of that product in order to make the same $30K. That means you have an entire year to make 15 sales which suddenly becomes a lot easier.
And when it comes to selling high ticket items like this, it’s not about conversion rates any more. Now it becomes about the ability to persuade, to build trust and to create a relationship with your buyer. These are things that you can do right away. As long as you can reach a few people, you’ll have the opportunity to put all your energy into persuading them to buy the product.
There are more benefits to selling high ticket items too.
One is that you’ll now be able to pour all your energy into creating that one product. In turn, that means that you can develop something that you’re truly proud of and that you’re willing to promote because you really believe in it. This makes a massive difference and is a great feeling. Imagine knowing that what you’ve built is something people are willing to spend that much money on – it’s highly rewarding!
And this means that your customers will be much happier. And actually the day-to-day running of a business that sells high ticket items is a whole lot easier than running a business that sells lots of products.
Why? Because with fewer products you now have fewer customers. Keeping 15 customers happy is much easier than keeping 15,000 customers happy.
And ironically, the more a customer spends, the less likely they are to complain! High paying customers tend to be the best type of customers and it’s the ones who buy your smallest items that will often give you the most trouble and try to get discounts.
This seems counterintuitive but it is an observation that Tim Ferriss makes in The Four Hour Workweek and for the most part, it is entirely true. Sell an ebook for $5 and expect people to complain, ask for a refund and generally be awkward.
Sell a course for $2,000 and you’ll only attract serious customers who are willing to part with their money in return for value – and that makes your life MUCH easier.
For all these reasons, selling a high ticket item is actually far preferable than selling something cheap. You’ll spend a lot less time marketing yourself and trying to optimize your landing page and much more time building trust and authority, providing a great service and honing your product to be the very best it can be.
You’ll have a few high paying customers and they will be much happier with the service that they’re receiving. With a few sales, you’ll have enough money to live off for the following year. And if your product is a hit? Then there’s no limit to just how much you can earn.
Want to double your income? Well, it’s much easier to go from 15 sales to 30 than it is to go from 15,000 to 30,000!
Getting Started and What You’ll Learn
But despite all this, a lot of people still shy away from selling high ticket items. Why is this?
It comes down to a lot of things but one of the first issues is that they lack confidence. If you aren’t confident in your own ability to provide great value and if you don’t believe that anything you can create will be worth $2,000, then you might simply avoid trying to make anything for that value.
People also tend to do this when selling services. Rather than go after the top clients and offer $2,000 for a web design, they aim for the lower end clients and charge $200. They make much more work for themselves and basically that’s because they undervalue themselves and they undervalue their time.
Another reason that people don’t sell high ticket items is that they don’t know anything about it. They don’t realize that it’s an option and once they do consider it, they don’t really know how to go about it.
There is a ton of information out there on how to set up your own ecommerce store, how to sell affiliate products and how to create ebooks to sell at $10 a pop. But there’s much less information on selling high ticket items.
That’s where this book comes in. Here, you’ll learn everything that you could possibly need to know about how to create a high ticket product and help it to sell like wildfire.
Here’s exactly what you’ll learn:
How to create a high ticket product that you’re really proud of and that you’re willing to sell for a lot of money
How to reach the right audience and build trust and authority with them
Ideas for the types of high ticket items you can create
The pros and cons of different types of product
How to build a sales funnel to create trust and make that sale
How to create a relationship with your buyers
Examples of some of the best high ticket products and how they sell
How to create a coaching product
How to choose a price
Which tools to use to build your high ticket business
And much more!
Ready to get started with your own big ticket item? Then read on and let’s start making big bucks!
Section 1: Define Who You Want to Target
The first thing you need to do when creating your high-ticket business and planning your product, is to identify the precise audience that you are going to focus on and to make sure that you get inside their heads and understand who they are.
And not to put any pressure on you here, but this is probably the single most important part of this entire process.
Choosing your audience is going to define not only how you market your product but also the nature of that product, the amount of competition you’ll be going up against, your routes to market and the amount of disposable income that your typical buyer has.
If you pick the wrong target, then you might be entering into a market that is far too crowded and that will make it impossible for you to stand out. Why would someone pay you $2,000 for a course when they can get a course on the same subject from Tony Robins?
On the other hand, you might pick a niche where there simply aren’t enough customers or where the customers are the kinds of people who are willing to spend lots of money.
So let’s take a look at what you need to do here and how you’re going to pick your niche and your audience.
Selecting a Niche
A ‘niche’ is a subject matter that you’ll be focusing on which will also provide you with an industry. Popular topics for internet marketing include ‘how to make money online’, ‘how to get into shape’ and ‘how to meet women/men’. So in other words, making money, getting fit and dating.
These are the most popular niches because they appeal to everyone. We all want to be healthy, wealthy and loved and these are universal drives that people are willing to spend money on.
When you’re selling a big ticket item this becomes particularly important. People are often happy to spend $2,000 on a seminar about making money because they believe that spending the money is an investment – in other words, they will actually stand to make more money by spending that initial amount of money.
On the other hand, people are willing to spend $2,000 on a course about dating because they are so desperate to find love/sex/happiness that it’s worth it to them.
This is your ‘value proposition’ – it is the way that you promise to make life better for your audience.
And you need to make sure that your value proposition comes with a very strong emotional hook.
People might love their painting hobby and they might even be willing to spend $30 on a book about painting. But are they really going to spend $2,000 on a painting course? It’s unlikely.
And once you pick this niche, you will be choosing your audience as well. If your topic is dating, then your target audience is going to be the younger man or woman (ideally one or the other) and they are going to be single. Likewise, if your niche is fitness, then your target audience are people who are a little out of shape and who want to be in better shape.
But by choosing one of these universal and highly in-demand topics, you are also creating more of a challenge for yourself.
That’s because you’re now also going to be competing with the hundreds and thousands of other people who are also approaching this same group with the same type of product.
Something as simple as trying to target your audience through Google AdWords now becomes very difficult. AdWords works through a bidding system, meaning that the highest bidder gets their ad displayed. If you’re competing with 1,000 very successful marketers, you’ll need to spend a lot more on marketing!
And where can you find a selection of your broad target audience where there isn’t already a saturation of marketing messages?
We’ve already seen that targeting smaller niches doesn’t really work when you’re talking about the biggest ticket items… so what do you do?
The solution is simply to pick a small niche within a bigger niche.
So you’re going to that universal drive and appeal and something that applies to everyone. Only now you’re going to be focusing on a specific, small segment of that audience.
For instance, if you’re selling a course about dating then you might decide to focus on online dating. Or maybe you focus on dating for the elderly. Or maybe dating for Christians who believe in celibacy?
If you’re selling a course about making money online, then maybe you could target students (though remember they might not have the income that you’re looking for), work-from-home Mums or another group? Or maybe you might want to focus on people who want to make money from a fitness website?
By doing this, you now carve out your own niche within a big area and that will allow you to become the leading expert in your topic.
You might not be able to beat Tony Robbins when it comes to talking about making money. But maybe you can beat him when it comes to talking about making money… with a gardening business.
At the same time though, make sure that the topic you pick is also something that you are passionate about, that you know a lot about and that you have unique ideas for.
If you’re planning on selling a high ticket item, then it isn’t good enough to simply make a ‘guide to dating’. You need to offer something above and beyond the competition that really makes sure that your product is worth the asking price. This means you need cutting edge, unique and exciting content that no one else has. And that means you’re going to need the kind of insight that your competition don’t have.
Don’t pick a topic just because you think it’s ‘easy’. Pick something that you’re an expert in. This way, you’ll be able to make a product that’s worth that amount of money and you’ll be able to promote it in a way where people can see your passion and your expertise.
One good way to do this is often to pick something that relates to your career, or perhaps a past position.
If you have any qualifications, then this is going to help you a great deal as well!
Section 2: High Ticket Product Ideas
Now you’ve got your topic and you’ve got your audience, the next question is to ask yourself what you’re going to sell.
And this is where things can get a little bit trickier.
Can you sell an app or an ebook for $2,000? Sure. Is it going to be an easy sell? No way.
Why People Pay High Ticket Prices
Really, in order to ask this amount of money for something then the most important criteria is that you’re able to offer that kind of value in return. An ebook can offer that kind of value because it can potentially offer information that changes people’s lives.
But while that’s true, it’s also true that an ebook is something people are used to buying for $30 and that they know didn’t cost you anything to make. This makes it incredibly difficult for you to convince them that the product is worth what you’re asking and as such, you might find you don’t get that many sales – or that you have to work incredibly hard for them. You’re also much more likely to get complaints.
So as well as delivering value, you also need to think about expectations. What are people used to paying that kind of money for?
There are a few answers actually:
Home study courses
Ready-Made Business Models + Materials
People expect to pay a lot of money for things that are one-to-one, that are personal, that are rare or scarce and that are live. Likewise, people are used to paying a lot of money for exclusive memberships and for courses.
Course are particularly effective because they will get compared with other courses. Studying at a university or college – even doing an online course – can sometimes cost hundreds of thousands of dollars. When you compare your $2,000 course – which comes with some form of certification – this suddenly starts looking like a much better deal.
When people get to meet you directly, this also makes them willing to pay more – especially if you have positioned yourself as a leading expert in your field. People will pay all kinds of things for memberships if the membership is exclusive enough (and in this case, the high price creates exclusivity) and people are willing to pay more for services.
One way to create a high ticket item then is to take what might have previously been a product and turn it into a course or a service.
So if you have an ebook on weight loss, you can do this by creating a course that is made up of multiple lessons and tests or you can do it by hosting a ‘training camp’ style weekend. You could alternatively offer personal training services by providing weekly calls.
People are also willing to pay more when they feel like they are getting value from lots of different sources. In other words, if you can combine multiple products or multiple services into a single package then you might find that this sells better and appears to offer even higher value.
So for instance, rather than selling just a course, you might offer a seminar that is followed by a course and that provides access to an exclusive community. This now seems to offer a very exciting opportunity and will likely help you make many more sales.
What Makes a Good Product From Your Perspective?
Of course cars are also something people are used to paying a lot of money for.
And so are holidays.
And so is real estate.
But you’ll notice that we didn’t mention any of these things in the previous Section. So why is that? Well, simply put, those things don’t offer as many advantages for you.
When choosing what to sell, the objective is to find something that offers a lot of value and that seems like a very good deal but that at the same time, helps you to save a lot of money and helps to make your life easier.
The aim is to create a product with a very low production cost. In business this is referred to as ‘COGS’ or ‘Cost Of Goods Sold’. Ideally, you also want something that you can produce once and then sell on scale to lots of people.
So an online course is a perfect example of this. Online courses don’t require any materials to create. Thus there is no up-front investment and you can actually create your course completely for free. Thus, when you charge for said course, you will be getting 100% profit.
At the same time, online courses don’t require any delivery or packaging. And you only have to build them once – you can then sell them as many times as you like.
Seminars and workshops are good too because they only take one day and you can serve multiple buyers at once. You only present one seminar but you can have 30 people there paying you $2,000 each. There is a small overhead (the cost of renting the room if you’re doing it live) but that’s it.
You also need to think of how marketable your product is and how many people it will appeal to. For instance, if you’re selling a workshop this will appeal to people who are less technically minded because they won’t need to use a computer.
That said though, someone who is very shy (perhaps the kind of person who needs a dating book?) might not want to attend.
Section 3: Examples of High Ticket Products
If you’re stuck for ideas/inspiration for your high ticket product, then here are some great examples that can get you thinking.
Tony Robins: 7 Forces of Business Mastery
Tony Robins is one of the best known self-improvement gurus and speakers on the planet. He has advised presidents and other high profile figures and even appeared in movies. This is a guy who is absolutely surrounded with authority and trust – which means he can charge an awful lot for his programs.
One such program he’s currently selling is ‘7 Forces of Business Mastery’. He promises to help his customers to create a ‘more effective business map’, to generate ‘constant and strategic innovation’ and to use ‘world-class strategic marketing’ among other things.
The landing page is here: https://www.tonyrobbins.com/events/business-mastery/.
While the topic could easily be made into a book (which would probably sell a nice number of copies!), Tony has instead packaged this as a course that takes place over five days and nights. Buyers will get to see one of their favorite speakers appear in person and also get completely involved in the process.
Here’s something key to understand: often people who are willing to spend this much money on a product do so because they feel like it’s their last shot. They have tried everything else and they want something so prestigious and so in-depth that they feel they’ll walk away guaranteed to finally capitalize on their goals and their dream. Offering a five day seminar is the kind of thing that promises this.
Note as well that rather than a ‘buy now’ button, there is an ‘apply here’ form. This is a great way for Tony to collect emails and details as well as to make the product he’s offering seem even more prestigious, elite, in-demand and scarce.
Rich Shefren’s Business Coaching
Rich Shefren’s ‘Business Coaching’ can be found here: http://www.strategicprofits.com/business_coaching.html.
This is a ‘cutting edge coaching system’ that is designed to help business owners that feel ‘trapped in their business’.
Notice the language here: Rich is looking for that emotional hook and is targeting a somewhat universal feeling. Many business owners feel overworked and as though they aren’t getting the rewards they deserve and he is honing in on that.
He claims that the system is the ‘most sought-after’ in existence and he backs up his claims with lots of stats. The program itself includes a ‘mastermind forum’, a private two day workshop and weekly calls. Notice again that there is an awful lot included here to justify the high ticket nature of the product.
Elliott Hulse’s ‘King’s Mastermind Feast’
Elliott Hulse is a famous YouTube personality and fitness coach who runs the well known ‘strength camp’. This in itself no doubt turns over a very tidy profit but he also offers one-to-one coaching.
Except Elliott doesn’t promote his coaching as coaching. Rather, he now only meets for 2-3 hour meals which he charges a fair amount for. In his own words:
“I guarantee you will get tremendous value out of our time together, just like dozens of others. As the CEO of three companies, father of four children, and a husband to my girl of 20+ years… TIME is my most valuable gift. So, I ain’t a cheap date.”
How much does he charge precisely? $1,000. That’s $1,000 for a short lunch!
In this case, Elliott is able to charge this much for a lunch because he is so well known on YouTube. He has spent countless hours building a huge fan base and building trust and authority so he’s able to charge based on his reputation alone.
Of course this is an excellent end-goal for your own business but it probably isn’t going to work right away.
Selfhacked.com is a website run by Joe Cohen and that offers advice on topics such as diet, exercise, supplementation, ‘brain fog’ and more. He offers 60 minute consultations at $90 each, which is a much lower asking price than some of the above but nevertheless classifies as somewhat ‘big ticket’. I’m including it here to show the wide range of products and prices that you can charge. He also has no application process or similar, just a ‘buy now’ button that allows you to schedule a slot.
Something that no doubt helps Joe’s cause and encourages sales is the long list of testimonials from CTOs and other high flyers.
London Real Academy
The London Real Academy is a membership program that offers members access to a number of webinars and interviews. It’s a recurring fee of $99 for three months, which of course is just under $300 for the year (and the program sells more courses on top of that).
London Real again built itself up over YouTube and through affiliation and association with a lot of big names. The landing page (here: https://londonrealacademy.com/memberships) again uses a lot of carefully chosen language to get more people to sign up…
‘Claim Your Spot’ for instance suggests a limited availability without explicitly stating as much. Meanwhile, it focusses a lot on the owners’ appearance on TED and works out that the total value of all the content should be over $2,000.
1-Day Business Breakthrough LIVE! (With Pat Flynn and Chris Ducker)
This was a single one day event that sold for $197.00 per ticket. Again, big names helped to sell it as did the subject matter (business/making money online).
In this case we’re not looking at any big course, seminar or program but simply a one day talk that can charge that much money. If we imagine that there are 100 spaces for the talk (which there will be at least), then that’s $19,700 for the one day. Of course Pat Flynn is the owner of ‘Smart Passive Income.com’.
Note as well that Pat also sells ebooks, makes money from ads and has all manner of other income streams too. This goes to show that your big ticket item doesn’t have to be the only thing you sell or your only source of income!
You can find out more at https://1daybb.com/
Tai Lopez’s 67 Steps & Inner Circle Program
Tai Lopez has got to be one of the most irritating people on the web right now, thanks in no small part to his adverts on YouTube showing off his Lamborghini that go on to say how he values his books even more because knowledge is more important.
Tai is so blatant in his attempts to sell his courses that they’re completely transparent. The reason it’s so annoying is that it works!
Tai sells a 67-step program from his website (you can find the landing page here: http://www.tailopez.com/flow.php?lp=FS-7506&source=banner) and doesn’t disclose the price but clearly is charging a premium. He uses every trick in the book to make the product seem like the best investment you can make, he even uses the phrase ‘invest in you’.
You’ll also find his “Inner Circle Program” which is available for $3,500. Click the ‘Inner Circiel’ tab on the navigation bar.
There’s a collage near the top as well that shows photos of famous, successful individuals such as Stephen Hawking, Arnold Schwarzenegger, Angelina Jolie, Albert Einstein and Steve Jobs. Tai had nothing to do with any of these people of course but he is subtly suggesting an association by including the image on his page. Again you get access to a large number of different things including a private community, videos and live talks and again he uses the same ‘Claim Your Spot’ language.
Ido Portal is a man who teaches ‘The Ido Portal Method’ which is all about the way you move and is all about health, strength, flexibility and agility. Ido largely rose to prominence simply on the strength of his videos that show him standing on one hand and doing other incredible things.
Ido has created quite an air of mystery around his classes and his teaching method and this only helps him to further increase the demand for his courses. Again, the price isn’t disclosed but you can guarantee it’s very high!
PUMethod shows that you don’t necessarily to be famous in order to sell a big ticket item. This is a course based in London that has recently been selling the secrets to being a pick up artist. Each one day ‘boot camp’ costs £447 which is approximately $1,000. The people giving the talks aren’t well known but in the UK the site is the second result for the key phrase ‘pick up artist course’. Right now most of the spots are sold out on the strength of a short few paragraphs of text and a video showing one man’s testimonial.
You could make this yourself in about five minutes. This is all the proof if any more were needed that you can sell a high ticket item as long as you are able to feed into that ‘hook’ and as long as you have confidence in your own ability.
Section 4: How to Package a High Ticket Coaching Product
While there are many different formats you can choose for your high ticket item, for many people the best option is going to be to sell an online coaching program or course. This ticks all of our boxes by being something people expect to pay a lot of money for, by offering a strong value proposition and by also being easy for you to make, sell and distribute.
You also have your niche at this point, so now the next thing to do is to create that product.
Let’s look at how to do that, while taking into account what we learned from the previous Section.
Define Your Value Proposition
We talked already about the value proposition. It is what you are offering to your end user in terms of how you are making their life better. The value doesn’t come from the product itself – it doesn’t come from the text or the PDF or the video – rather it comes from how your product changes the life of the person who buys it.
This is important because it’s how you’re going to get that emotional hook. This is how you’re going to get your audience to really feel the drive and the urge to click ‘buy’ and it’s how you’re going to promote and market your product.
So pick one promise that you can make to your audience. What is the one thing that you want to deliver?
You might also be delivering other things on top of that, but what is it that offers the core value of your program? Are you going to help them find love? Build an online business? Gain confidence? Dress better? Get a six pack?
The more specific you can be, the more focused your marketing will be and the easier it will be to find your audience and convince them to buy.
What I also want you to do is to make sure that you can really deliver on that promise. This is where some of the products we’ve looked at previously are maybe a little disingenuous. Which of the courses we looked at can really deliver on the value they promise and which can’t? Well, that’s entirely up to you to decide. However, just know that some big ticket items aren’t really worth the amount they charge.
Now, you might decide that you don’t care about running a moral business and that you’re quite happy to sell a product that doesn’t offer much value and that you don’t really believe in.
Again, this is up to you and it’s not my place to convince you otherwise. However, just know that it’s a good idea to sell something you believe in from a business perspective as well. If your product does what you promise it does, then people will come away happy and they will provide you with those testimonials. At the same time, you’ll find it’s much easier to talk about all the benefits and that you come across as much more believable as a result. You’ll have fewer people asking for refunds and the product will look higher value as well.
Pick a Name
Look at the items that we listed in the last Section and you’ll notice that none of them are called ‘Make Money Course’.
Rather, they talk about ‘steps’, ‘mastery’, ‘masterclass’, ‘champions’, ‘academy’ – these are buzz words that just sound a lot more exciting.
And this is something that you can benefit from too. Make sure that you give your product an exciting and catchy name that will be marketable and that will get people curious. The name may well be the first thing that your audience come across, so try to ensure that it communicates what you’re all about and that it builds interesting, trust, intrigue and more.
Think too about what kind of name will be most suitable for the particular kind of business you’re thinking of building.
What do I mean by that? Simple: If you’re creating an online course that you want people to take serious and to think of as a real online course with a proper qualification, then you don’t want to call it ‘Ultimate Mastery Master Class of Masters!’. Try to pick a name that suits your target audience and the way you’re trying to present your product.
Create a Curriculum
Now you have the goal of your course and you have the target audience and a name, it’s time to start thinking about the specifics. The best place to start with this is by coming up with a curriculum, which might bring back painful memories of being at school…
Basically though, your curriculum is the loose structure that you’re going to base your entire set of lessons around. Of course you might have a lot of additional materials which may mean that not everything fits into the curriculum.
Nevertheless though, having a basic outline and sequence can provide a good starting point and will give you something that you can ‘hang’ the rest of the materials on.
Coming up with your curriculum means breaking down what you’re teaching into bite-sized chunks or steps. You already have your end goal remember, which is what we discussed earlier. Now on top of that, you’re going to come up with the individual steps to get there.
So if the main goal/promise of your book is to help guys meet women, coming up with the curriculum will involve breaking this down into simple steps.
Step 1. The basics of dating and why confidence is key to sending signals to the opposite sex
Step 2. How to build confidence
Step 3. Exercises and tests that you can use to build that confidence
Step 4. Putting the confidence into practice – chat up lines and ways to meet women
Step 5. How to meet women without any stress
Step 6. How to ‘close’ the deal and get a number/invite someone back
This is now the structure for your curriculum and if you were a school, these are the topics that you would ‘test’ your audience on.
You need to make sure that at each point, you are delivering exclusive and genuinely valuable content that people can’t get elsewhere. It’s not enough for you to simply read information online and to regurgitate it – this should be unique, powerful and interesting stuff. Remember: that’s why it pays to choose a niche that you know well and that you’re genuinely passionate about.
You could then also break each of these six steps and key ‘points’ into smaller digestible lessons/emails/videos etc.
What you might also notice here is that there are lots of opportunities for you to provide extra materials and extra value.
For instance, you could include a PDF of exercises for building confidence, or you could host a workshop where people at step 4 can practice chat up lines. Likewise, you might include an ebook on how to dress for more confidence.
All this will also help you to create your content more easily and will at the same time help you to market the finished product because you can focus on all of the individual points that your readers will learn.
Let’s look at another example. Say you have a course on making money online, what might your curriculum be?
Well, remember we’re targeting a specific niche within that subject and we’re trying to solve one simple problem. So let’s say that we’re helping people become app developers for Android. Let’s look at what our curriculum might be:
Step 1. An introduction to Android and guide to developing
Your options for creating an Android app
The different method you’ll be using in your book that is quicker and more powerful
Step 2. How to come up with an idea for an Android app that will sell
Make something simple that you can create quickly
Reuse existing materials
Step 3. How to use the tool to quickly develop your app
Step 4. How to publish the app to the Play Store and start selling it
Step 5. How to market your app and price it
Again, there are lots of things you can include here to add additional value. You might include lots of code that people can copy and paste into their own app or you might even include materials like images, sounds and templates they can use to build their app more quickly. You could offer guidance and even provide consultation by assessing the ideas that people come up with and telling them whether they’re likely to make money or not.
Deciding on Format
Now everything is laid out, you’re nearly ready to start actually building your product. Before you do though, there’s one more question you need to answer: which is how you’re going to go about creating it. What type of format/media is it going to be? What extra materials will it include?
Of course this is going to greatly impact on the marketability and value as a series of videos or a seminar is quite different from emails or PDFs. It will also greatly impact on the work you’re going to be doing and on the amount of time and money you’ll spend creating your product.
Here’s something to consider: whatever type of product you are selling it’s going to need to be high quality to demand that high ticket price. In other words, if you are selling a video then that video needs to have the very highest production values. If you are selling an ebook, then it needs to be a beautifully made ebook with stunning images, lots of text, no typos and beautiful formatting.
A good thing to think about is what type of medium will play best to your particular strengths. We’re all different and while some of us are great speakers, others are better writers. Or perhaps you are good at drawing? Think about the type of format that you’ll be able to create easily yourself and then try to focus on a product that will lend itself to that type of work.
And think too about how you can make what you’re creating unique and how you can use your particular skills. For instance, if you’re good at speaking but you don’t have recording equipment/don’t think you look professional, then you can always create slideshow videos or animations. Likewise, if you happen to be good at coding then great – make an app and use this to convey your course!
Section 5: Create the Content
Now you’re going to need to create your content. This is where things are going to get a little trickier for you but the good news is that there are things you can do to make the process easier and more effective.
Firstly, do everything that you can do yourself. So if your course is going to be emails or PDFs, chances are that you are capable of writing that content yourself.
To make a great looking ebook, you can actually just write your content into word, add in some pictures and formatting and then save as a PDF.
Likewise, if you’re making a video course then you should record the footage or audio yourself. Set aside some time to do this – maybe that means taking a week off of work for instance but consider it an investment.
Spend some time researching the best ways to create your content and whatever you do, don’t cut corners. If you’re going to be creating videos then you should use the best quality video equipment (you can always ask to borrow some), you should get someone to film it for you, you should create a ‘set’ where you’re going to film or you should rent out a greenroom. Spend time on your presentation and invest in high quality sound recording equipment too.
If you’re unsure about any element of your product creation – then outsource it! There are lots of ways you can outsource elements or pay for them. For instance, if you’re making an ebook then it’s a very good idea to pay for some stock imagery that you can use. You can buy packages of images for use in commercial ventures and this way you’ll be able to adorn your ebooks, pdfs and emails with pictures of things that complement the text and that make your articles appear more professional as a result.
Likewise, if you’re making videos, you might consider paying someone to handle the editing, to create a video opener, to write you some music, to design a logo etc. This doesn’t have to be very expensive if you look on freelancing sites like UpWork (www.upwork.com), Elance (www.elance.com) or even Fiverr (www.fiverr.com) – but it can make a huge difference to the overall polish of your product and help it to look that much more high quality and premium.
This is where a lot of people will fall down and it’s one of the reasons some people will avoid creating high ticket items in the first place – they just don’t have the means, the time or the resources to create something that’s high enough quality.
There are a few ways you can get around this problem.
One is to start with something that will be low cost to create and to use this to bootstrap yourself. For instance, if you’re struggling to create your online course then you could always do a one day seminar or workshop. As we’ve seen, they can often help you to earn thousands of dollars for a single day’s work which will give you the money and the time to invest in creating something that can sustain you for longer.
Another option is to change the way you charge for and deliver your product. For example, you can get people to pre-order their place on the course and this way, you will be able to generate some funds to help you create the product.
Better yet, if you’re delivering your product as lessons or otherwise in some kind of instalments, then you can just use this as a method for funding yourself as you go. You now only need to create the first lesson and you can spend the intervening week creating the second lesson.
Remember that in future you’ll be able to continue selling this course, so the work you put in now will pay for itself for months or years to come. But in the meantime, you’ll have a steady income and the funds you need to invest in making the best high ticket course you can possibly make.
And if you don’t feel comfortable taking this route… then just don’t rush what you’re doing. If you have to make this your ‘hobby’ for the next year while you hold down a job then so be it. Make it something you love talking about and find fascinating and it shouldn’t feel too much like a chore to record those videos or write those posts.
Upload the Content
Finally, once everything is created and you know exactly how you’re going to deliver it and how you’re going to sell it, all that’s left to do is to upload that content and to start selling it!
For this, you will of course need to get web hosting, which will in turn allow you to sell the course from your website.
Webhosting will also need to come with a domain name which is the web address that people will type into their browser when they’re looking for your business.
So for instance, if you use Bluehost (at www.bluehost.com) then this is will give you a hosting account and domain name with everything you need to get building your site.
You’ll probably want to create a site using WordPress and you can then upload the individual elements of the course to the site and charge for access to them.
In Section 8, we’ll be looking at some of the best tools you can use to build your course and to start selling it and this will help you to get set up with your own site with its own store.
Section 6: How Long Should Your Coaching Program Be?
When creating your coaching program, you’ll likely also come across another question: how long should it be?
This is something that you’ll have to make up your own mind on and if you look at the examples we featured earlier, you’ll find that all of them are completely different in terms of their duration, their format and more.
The key is to make sure that you are delivering the value that you are charging for and that might influence the length of your course.
What’s also going to have an impact is how much information and access you deliver at each stage. For example, you can send a lesson every single day for four weeks, or you can send a lesson every week for 12. The former course contains a lot more content but the latter is ‘longer’. Think about which will be easier to market and sell. Would you rather pay $2,000 for a 12 week course or a four week one?
This will also depend to a great degree on the extra materials you’re providing. If you’re providing one-on-one consultation, then you need to make sure that you aren’t constantly getting calls. Likewise, if you provide access to a huge database of information then you might be able to offer a shorter course because you’re providing value in other ways.
Ultimately, the answer will come by thinking about what the best option is for your buyers. Think about what the best speed to absorb this information is and try to avoid going either too fast or too slow. People like to get as much information as they can as quickly as possible but this shouldn’t be at the expense of giving them time to properly mull over that information and to consider everything you’re saying.
The Continually Growing Course
Another thing to keep in mind is that you could offer some aspect of your course that is indefinite or that you continue adding value to.
If you bear in mind that your course is something that is only going to need to be made once then this means that you will have lots of spare time while earning passive income in the meantime. You might offer some workshops and one-to-one tutorials but ultimately the money will come gradually in while you sit back and relax! You are reaping the seeds you sewed at this point and all that hard work is paying off.
BUT that doesn’t mean you can’t put this time to good use. Consider continue to work on what you’re offering by uploading more content for people to download, by contributing to your members’ only forum and by creating new materials for people.
Each time you create more content you can now add this to your offering and potentially increase the price.
At the same time, this also means your audience is getting essentially ‘unlimited’ fresh content and support. This is a great way to build some truly loyal fans, to get some really great feedback and to offer a very exciting selling point!
Section 7: Pricing Your High Ticket Product
Another question when you are creating and marketing your product is how much you’re going to charge for it.
This is particularly important when we’re talking about high ticket products. Of course the whole point of a high ticket product is that you’re going to charge more than you would for a smaller product. At the same time though, you also need to make sure that you aren’t pricing yourself too high and putting people off of potentially buying.
You also need to make sure that you aren’t charging so much that people will be unhappy with what they receive and want their money back.
So how much are you going to charge? And how do you work out what a reasonable asking price is?
If we look at the examples in in Section 3, we can see that the pricing is all over the place. London Real was selling membership for $99 per quarter and this was providing access to huge amounts of video and interviews with some of the most influential figures on the web today. But then on the other hand, you have some five day courses selling for several thousand dollars. And Elliott Hulse was selling a 2-3 hour lunch for $1,000!
This should tell you that you can sell your courses and seminars for any price you see fit really. However, that’s not to say that there isn’t some logic behind this.
5 Factors That Influence The Price
1. The reputation of the person selling – if this is someone who is very famous or who has a lot of impressive credentials and qualifications, then they can charge more for their time. Your aim is to build up to your reputation so that you can charge lots for short lunches!
2. Another factor is how much one on one time you’re getting. That high price that Elliott was charging is high because he’s speaking directly to that one person and giving them all of his attention. Conversely, Pat Flynn’s seminar would have been to a room of people. This makes it less exclusive and means he can make a profit by charging lots of people at once.
3. The amount of information/time – Of course the amount of information and/or time you are providing is going to impact on the amount you can charge. If you have a course that offers 100,000 words worth of text, 48 hours worth of video and one-on-one time with you, then you can obviously charge a lot more than if you’re selling a short email course. Likewise, five days and five nights with Tony Robins is of course worth a lot more than a single seminar with him.
4. The information – How exclusive and exciting is the information you’re providing? If you can present a formula that will make someone instantly get the body of Captain America, then you can charge thousands and thousands of dollars. That’s because it’s powerful and it’s exclusive. On the other hand though, if you’re simply offering an in depth training program that’s not that different from all the others out there, you’ll need to charge a little less.
5. Exclusivity – Ido Portal charges a lot for his courses because they are few and far between, because he is picky over who he selects and because there is a lot of mystery surrounding them. The fewer seminars you give, the more exclusive and scarce your time and information is.
At the same time, you also need to think carefully about the type of person you are targeting and how much income they have. You also need to think about the emotional heft of what you’re offering and whether it’s enough to encourage someone to spend a lot of money.
If you’re teaching millionaires to find love, you can charge a lot.
If you’re teaching students how to ice skate, you might want to lower your price.
The precise price you charge is of course up to you. The worst case scenario is that no one pays for your product and you can always lower the price at that point (in fact, it’s worth leaving yourself a little wiggle room in terms of price so that you can offer discounts and special deals).
However, if you’re looking for guidance, then a good place to start is to consider what most other people are doing. Here is a rough guide that might help you get an idea of what to charge for your product:
$99-$300 – This is ideal for a one-day seminar or a brief, one-to-one consultation. You probably aren’t famous for this price, but you’re qualified/experienced/well-respected/have some exclusive information to share.
$500-$999 – At this price, you are either doing the same as above except with a lot more experience and fame behind your name or you’re offering a lot more information and a lot more time.
You might either be providing a whole day one-to-one, or you might be offering a longer course. Elliott can charge this because he is world-famous. This would also be a good starting point for a basic online digital course.
At these price points, you will often be able to charge more for an additional product. We’ll learn more about this in the next Section, but having a ‘tired system’ is a good way to get people biting and then to increase the price.
$1,000-$2,000 – At this point you’re now looking very much at a premium product. This is most likely going to be something very in-depth in terms of what you’re offering and that means lots of materials, one-on-one time and access to a gated community.
$2,000-$5,000 – This is for people who are better known and who are providing the full package as before. This might be your ‘second’ high price item after you’ve used the first to make a name for yourself. Provide lots of great information, some real ‘take homes’ and attach your name to it.
$5,000-$10,000 – This is something to aim for but isn’t likely to be what you’re doing to begin with. This is the kind of price that someone like Tony Robins or Tim Ferriss can charge for their time. You will hopefully get to this point but not on day one!
The only way you can charge this kind of money is if you have a really powerful secret/system/method and you can really make your audience believe that (a money back guarantee is a good strategy).
Another thing to consider is that money-making products are again much more likely to sell for this price as they offer to help the buyer to make the money they spend back and therefore can be marketed as an investment for them. A good example of something you could do is to create a ready-made business with proven income and then to sell it for this price.
Section 8: How to Sell Your High Ticket Product
You’ve created your product and now it’s time for the hard bit: getting people to believe in that product and to willingly pay for it.
This is going to take some work but the good news is that there’s a very effective tried and tested formula that countless people have used before you – and you can implement it yourself with predictable results.
Building Your Sales Page
One thing you’ll have noticed when looking at the products we listed earlier is that many of them sold from a single page on the owner’s website. This page would very often be long and narrow and would use lots of language that was designed to sell, along with the ‘Buy Now’ button or the ‘Application Form’ that would be included throughout the text.
This is called a ‘sales page’ or a ‘landing page’ and the basic idea behind this is to create a single page that’s all about selling the one product. That means that there will be no other content here: no articles, no adverts for other things and no links to other pages on your site. This page exists only for this singular purpose.
Sales pages tend to be long and narrow in format and this is designed so that the reader will gradually scroll through the page until they get to the bottom. Because they’ve scrolled so far at this point, they will then feel as though they need to buy something or risk having wasted their time. The further they scroll, the more committed they are!
How to Write a Sales Pitch
What you’ll also find on these pages is that the language used is designed in a very clever way to get the visitor to keep reading and to get them excited for the product and interested.
As such, the sales pitch uses a number of different techniques…
For starters, many sales pages will use a kind of narrative structure. This means that they’re structured like a story and the reason for this is that we find it very hard not to keep listening/reading when something is designed in that way.
We’ve spent our entire lives listening to stories and this makes it very hard for us to stop reading!
You also need to make sure you focus on the emotion here and the value proposition. Think about the ‘pain point’ that your audience faces and the single solution that you’re offering. Are your readers sick of getting nowhere with the opposite sex? Are they tired of going to bed alone every night? Or maybe they’re fed up of looking in the mirror and not liking what they see? It could be that they have debt and they’d love nothing more than the satisfaction of running their own highly successful business.
At any rate, think about how your readers feel and how they could feel once they buy your product. Know that 99% of the things we buy are based on emotional impulses rather than reasoned logic. We buy things on impulse and your aim is to get your audience to do that quickly before they get the chance to go away and think about it!
Another useful strategy then is to create urgency. This means that you’re going to make your audience want to act quickly on that emotion and the way you do this is by implying that you have limited space on your course, or that it starts soon, or that the price is going to go up.
Think about the way you’re going to describe the community aspect as well. People love to belong to something and they like the idea of exclusivity. So talk about the community in those terms. This isn’t just an online forum, it’s a ‘movement’ of ‘likeminded people’. It’s a brain trust of VIPs. It’s the most exciting place to be for cutting edge discussion – a secret community with access to powerful information. Make it exciting, important and very exclusive.
There are other things you can do too. Notice how most of the examples we looked at would try and associate themselves with figures of authority? Or how they would talk about their previous successes or their appearance on TED? Doing this helps to build authority and as we’ve seen, that allows the seller to charge more.
If you have any kind of degree, qualification or experience then make sure that you put this at the front and center of your campaign and that you keep alluding to it. If you don’t? Then try to associate yourself with authority in other ways.
You might do this subtly like Tai Lopez by including images of famous and successful people. Or maybe you want to be a bit more on-the-nose and have a testimonial from a CEO? You could also post stats and figures that back up your central arguments.
In terms of the structure for your sales page, a very popular option is to use the ‘AIDA’ approach. AIDA stands for:
So here, you are taking someone who has never heard of your product before through those steps: first they learn who you are and what you’re offering. Then they become interested in that thing. They then start to want it and then you make them act on that emotion and click buy/fill out your form.
Creating a Brand
The sales page on its own can be effective and if you send people to it with some advertising it might lead to some conversions. The great thing about this is that you are earning a lot of profit per sale which means you can afford to spend more on your advertising campaign and therefore fend off the competition.
However, you’ll have a lot more luck if you also introduce a sales funnel.
Basically, you need to recognize that one of your biggest obstacles is trust. Remember: you’re communicating with people who have never heard of you before and you’re asking them to spend thousands of dollars for the privilege of listening to you speak. Why should they? How do they know that you aren’t a complete fraud?
With a sales funnel then, your objective is to build that trust and to create a name for yourself very quickly with those individuals that you’re going to sell to.
At the most basic level this means creating a popular blog that you’re then going to use to promote your products and to sell your high ticket items.
A blog is basically going to act like a ‘free taster’ and give people a demonstration of what you’re capable of. So someone searches for information on how to make money online, then they find your blog, then they read a post and they think it’s amazing. Then they see your high ticket item and they become much more likely to buy it right away. Why? Because they’ve seen what you can do for them for free. Imagine what you can do for $2,000?
Alternatively, your visitor might not decide to buy anything right away but may instead come back and read your blog a few more times in future. In doing this, they may eventually decide to subscribe and to become a long-term fan, or they might just seek you out whenever they want information on that topic. This then makes them even more likely to buy from you.
To make the most from this process you need to create a strong brand which should be consistent on your blog as well as social media. If you notice the examples we looked at in Section three, you’ll notice that those sellers mainly used ‘personal brands’. This means that they sold products predominantly on the strength of their own real name. Personal brands can be very effective because they let your customers get to know you and to feel as though they have a personal relationship. If you’re willing to put your name and face on the web, then this is a much better option than being a faceless organization.
The Sales Funnel
A true sales funnel though involves more than just a blog and a product. Rather, to be a ‘funnel’, you’ll want to introduce more stages that will help you to develop a relationship with your customers and to get them increasingly invested in your brand and in what you’re selling.
Some surveys suggest that people are most likely to buy a high ticket item after ‘five touches’. This means that you need to interact with them five times before they become likely to buy something from you. This is enough time to make them feel invested and to feel as though they know and trust your name.
So how do you go about creating those five touches? There are actually lots of different methods you can use but one popular one is:
Low Ticket Item
High Ticket Item
Another common one is:
‘Squeeze Page’ (A page that collects emails)
Low Ticket Item
High Ticket Item
In other words, you are giving something away free first of all and using this to collect an email address. Once you have the email address, this then gives you a means to directly contact your audience and that in turn is important because it allows you to communicate with them directly in their inbox. That makes them feel like they know you better and you can even encourage them to email you back and to enter into a discussion. You’re building trust this way.
With the free report or your blog, you provide that free taster in a format that’s very passive. The online seminar on the other hand is still free but it’s much more active. Now they have had to log in at a certain time, they will feel much more as though they know you and they will feel like a part of your community. This is especially true if they asked questions and you responded directly. At this point, if all went well, they will now be ardent fans rather than potential leads.
Next you’re selling something small. This is important because it gets over the mental barrier of buying something. People feel anxious about buying things from people they don’t know and especially when those items are big ticket. Sell something small first and they become much more likely to sell something big.
Use each ‘step’ on your ladder to sell the next and you’ll find it’s far more effective than going straight in for the kill.
Section 9: Tools for Managing and Building Your High Ticket Business
Here are some of the tools that can make it that much easier for you to create your high ticket business and then keep it running…
This tool is used for scheduling and can be very useful if you intend to do anything live. You can use this to schedule one-to-one seminars, Skype calls, phone calls and other personal interactions with your audience. It’s great for lead generation too and for demos.
Speaking of which, Skype is what most people are going to use to manage those one-to-one consultations and calls. This is a tool most people have and is a reliable way to get connected and to speak in person. It’s worth investing in a good webcam and connection.
This is one of the best all-round products for hosting your webinars and letting people watch and take part. Webinars can be used as the products themselves but they can also be great for
Google Hangouts can also actually be used for your webinars and this is a system that more and more people are using today.
YouTube is of course very useful for uploading videos but you can now also add paid subscription videos. Follow the instructions here:
Udemy is a site where people find and take online courses. This offers a lot of tools for creating your courses, which include online tests, videos and other things.
Note that Udemy courses tend to sell for up to $500. If you plan on charging more for your big ticket item then, you might choose to use Udemy for building only certain elements of your course.
That said, Udemy also offers a great distribution platform that can help you reach a wide range of customers.
Periscope is a live streaming platform that allows anyone with a mobile phone to stream their content. You can use a mobile in order to film straight from your in-built camera and this then gives anyone the option to comment on your videos, while they’re watching.
Periscope has a wide range of potential applications but has quickly become popular among marketers for a number of reasons. One of the biggest benefits of this platform is that it’s currently so in-vogue while not having lots of users or creators yet.
But because Periscope allows people to comment on the content that you upload, this means that it can also be used as a tool for broadcasting seminars. And this particular method will help to make your business seem very modern and ‘in touch’ with the latest social media trends.
OptimizePress is a WordPress plugin that can transform your website into a sales page. This can be used similarly to something like WooCommerce (an ecommerce platform) but is more geared to selling single, high ticket products.
Conclusion and Action Plan
As you can see, creating a high ticket item can be a great way to make a large profit from each sale and this in turn means you can spend more time creating something you’re really proud of and ensuring that your customers are getting the best experience possible.
This also means that you can make a full-time living from a blog or a website much more quickly than you could by using advertising, affiliate marketing or selling a product for a much lower amount.
And doing so is much easier than you might initially expect. The basic steps are simple:
Identify something that you know a lot about and a topic where you have something to offer
Find the best customers for your concept who will be willing to spend a large amount on what you’re offering
Identify the best kind of product and the media you’ll use to create it. Decide how you’ll ensure it’s worth that high asking price.
Create a curriculum/plan for your course/seminar and identify steps and lessons along the way. This should also help to inform the length of the course and the asking price that you’re going to charge.
Invest some time creating your course or at least all the elements that you can build yourself. This might mean writing in Word, or just recording some audio.
Outsource the rest, or the stagger your project in such a way as to ensure that you have a constant income to fund what you’re working on.
Create a website to upload your site to and building a landing/sales page to promote it from.
Build a sales funnel – make a blog to demonstrate your expertise and try to collect emails through it.
Create a free seminar/report and use it to create a closer relationship/trust with your audience.
Offer a low ticket item.
Sell your big ticket item!
Don’t make the mistake that so many people make of thinking that you can’t create something worth this price. People are happy to pay this amount as long as they feel they are benefiting in some tangible way. So whether you can offer dating advice, business advice or fitness knowledge – don’t undervalue yourself. Sell big ticket and make the big time!
IMPORTANT: To help you further take action, print out a copy of the Checklist and Mindmap I provided. You’ll also find a Resource Cheat Sheet with valuable sites, posts and articles that I recommend you go through.