10 Tips to Master High Ticket Sales

High ticket selling is different than traditional sales because you’re dealing with higher stakes. If you want to master this type of sales, you may need to learn how to negotiate effectively. Even if you have a solid sales background, this knowledge might not be enough to close big deals. You may need to learn some negotiation strategies from a professional. FBI hostage negotiator Chris Voss has a few tips that will help you get your way during negotiations. His techniques are proven to talk even the world’s most dangerous criminals off a ledge.

Identifying pain points

If you’re trying to master high ticket sales, you must identify customer pain points. While pain points will vary from company to company, they can be very common. It helps to understand the underlying reasons customers want to buy a certain product or service and to provide a solution that meets their needs. The best way to do this is to listen to your customers and try to understand their problems and needs. This will eliminate guesswork and enable you to develop a better solution for your customers.

Identifying customer pain points is a powerful strategy to use in your marketing campaigns. You can identify customer pain points related to a particular industry, geographic location, or product. It will help you tailor your products and marketing messages to address these common concerns. The most successful businesses will consider customer pain points in all aspects of their businesses, from customer service to the design of their website.

Acting as an expert

The key to mastering high ticket sales is to act as an expert in your field. As an expert in your field, you must present yourself as a resource for potential clients. Whether you are selling a product or service, you must demonstrate that you are an expert in the field. Oftentimes, people on sales calls are seeking guidance in some area.

Pre-sales routine

A pre-sales routine is an essential component of your sales process. It helps you shape the conversation with your prospect and position your proposal as the solution to their problem. Your ability to fully understand your customer’s needs is the key to successful pre-sales. Use visuals to help your prospect understand the solution you have in store for them. Okta, for example, uses visuals to illustrate the benefits of using their solution.

Regardless of your business’ size, a pre-sales routine should be an integral part of your sales process. It starts with understanding your customer’s needs, develops an initial view of your solution, and then helps close the sale. Often, the presales person will stay on after the sale to ensure the delivery team delivers on the promise of the solution.

Following up

The key to maximizing high ticket sales is following up with customers. It’s a fact that 60% of customers say “No” four times before they say “Yes.” Yet, only 48% of salespeople follow up with their prospects. Despite this, persistence is an essential part of building a successful business. One of the biggest barriers to follow up is the fear of rejection. However, this fear can be overcome by believing in your service and product.

Following up on high ticket sales requires a high level of commitment on the part of your sales team. After all, high ticket sales are all about increasing your value in the market and generating high revenue from individual clients. While high ticket sales can be intimidating at first, having patience will make you feel more confident and comfortable with the task. This sales strategy can be transformational for your business. If implemented correctly, high ticket sales can improve your bottom line and boost your commission payout.

Price anchoring

Price anchoring can work well for high ticket products, but not all products can benefit from this tactic. Many buyers are too well informed to be moved by price anchoring. They may take time to research the value of your product and may even see it as cheap or dishonest. Nevertheless, price anchoring can make your product appear appealing and compelling to your buyer.

To make price anchoring effective, use a simple example. For example, if you are selling a car, make sure to mention the price early on in your conversation. By doing this, you will anchor their expectation for pricing in the future. Suddenly, a $2,000 car will look cheap when compared to a $10,000 one.