These Four Common Mistakes Are Likely to Blame If Your High-Ticket Programs and Services Are Not Pulling In Profits
The Internet has a funny way of keeping myths alive. Someone says something, a few people agree and suddenly that little tidbit is being taken as the gospel truth.
Truth be told, wonderful worldwide web has had us out here believing all kinds of craziness. Things like “build it and they will come” and “the customer is always right.” Now, if you’ve been in business for more than 5 minutes, you know neither of these things are true.
But there’s one myth that’s been floating around that needs to be debunked: this idea that Black women entrepreneurs don’t make premium and high-ticket investments.
Because it’s crap. Tons of high-priced programs like B-School and Funnel Hackers have women of color virtual meetups and subgroups so we KNOW women of color are investing in high-ticket programs and services.
And while some people think that must mean women of color just don’t invest in each other, that’s crap too, because as a Black woman entrepreneur I get premium and high-ticket women of color clients all the time. And so do plenty of my peers.
So, what does it mean if Black women are dropping coins on high-ticket items, yet you can’t seem to get them to buy into your services?
The answer is simpler than you think. Let’s break it down.
Reason #1: You’re Selling Products, NOT Results
Do you know what makes people pull out their wallets and drop thousands of dollars on a course, program or mastermind? It’s not the expertise of the creator behind it and it’s not the long list of features and benefits those products claim to offer.
People bust open their purses and wallets when they feel like they’ve finally found the answer to their prayers. They don’t buy products; they buy the results they’ve been desperately searching for.
The minute a potential customer becomes convinced that your program or course can help them lose that extra 20 pounds, rescue their marriage and avoid a costly divorce, or skyrocket their business profits, they’re going to drop whatever amount of money it takes.
So, ditch the stats and figures and develop a sales strategy that gets right down to your audience’s deepest desires and greatest needs. When you learn to sell the results, you can land a sale anytime, anywhere.
Reason # 2: You’re Exhausting Your Audience with Up and Downselling
I know this one is going to rock the boat, but I’m gonna say it anyway because it’s the truth. That upsell and down sell strategy a lot of business gurus have sold you on is wearing your audience out.
Look, I understand the value of having products at different price points, because not every client is going to be about that $997 investment right away. But when you find a client who’s ready to spend the big bucks, don’t drag them through the whole process when you could just sell them on the high-ticket item they’re after in the first place.
The key to knowing when to ditch the upsell/down-sell cycle is to know how to spot your high-value clients. These are the people who are ready and willing to pay you on that very first conversation.
They’re in your DMs asking how they can get started. They’re requesting one-to-one time with you. High-value clients are eager to skip the baby steps and jump right into the big leagues because they want results now, and they’re prepared to shell out the cash to get them.
When the sale is practically making itself, you better move on it.
Reason # 3: You’re Letting Rules and Processes Keep You from the Money
I know you’re probably thinking, “Kim, you’re trying to have me out here breaking all the rules.”
I’m not saying you should go rogue and just throw all caution to the wind, but you’ve got to know when the rules are keeping money out of your pocket. Which is why sometimes you need to ditch your systems.
It’s great that you have an application form or discovery call process, but if a client is saying “YES!” in the DMs, don’t send them to fill out a form or book a call when you can handle that process right then and there and put money in your pocket.
If you can sign your client in your DMs, inbox or face-to-face, think outside of the box and secure that bag.
Reason # 4: You Don’t REALLY Know Your Audience
None of the other reasons I gave you will matter, if the only thing you know about your audience is what Google Analytics tells you. Google Analytics can’t give you the inside scoop on their personalities, their character and what they want more than anything else.
If you don’t think you need to be all up in your audience’s business like this, that might be why you aren’t nailing those high-ticket clients.
Remember reason #1? That’s right – you’ve got to sell results. And knowing what your people want and need is what helps you do just that. When you really understand your audience, then you can create content that talks right to their resistance, answers all their objections and gets them to realize that YOU and your business can take them from where they are to where they want to be.
Is it really that simple? Yes! If you can sell results, get your high-value clients straight to the goods, ditch processes when you need to and know your audience inside out, then you can start landing those high-ticket conversions you want.
Ready to overcome these mistakes once and for all and move from counting pennies to effortlessly winning this business game? I got you.
Click here [LINK] to get your hands on the Client Attraction Blueprint that has given my clients massive shifts in their business.
Now if you want the full scoop on my profitability-boosting strategies so you can collect all the money you’ve been leaving on the table, click here for a chance to meet me in NYC.