You’ve probably heard of the term “high ticket,” but, what does it actually mean? And why should you be doing it if you’re not already?
Spend 2-3 minutes with me here, and I’ll break down what high ticket coaching is and why it’s the best online coaching business model for you and for your clients.
by
Lauren Tickner, CEO of Impact School
August 3, 2020
What “High Ticket” Actually Is
Firstly - if you are still selling one off coaching calls or charging under $500 per month, then this blog post is going to change your world.
I’m going to share with you why Forbes Magazine coined me as a Top 10 Entrepreneur for helping others reach 7 figures.
(Psst - helping online coaches/consultants switch away from this “one off” or “monthly” pricing model to a high ticket model was a large part of that).
So - back to the question. Put simply, “high ticket” means high price point: the “ticket price” is high.
But - you best believe that the person who’s making that high ticket investment must receive an even higher level of value in exchange for their money.
A high ticket offer must take your clients from A (where they are now) to Z (where they want to be), and it has to actually work.
That’s why everybody wins...
You get to make $2,000-$20,000 per client, so you don’t need to have as many clients as you would if you were charging a lower price. Plus, your client has skin in the game so they put in the work and therefore get the result they want…
Which means you get better testimonials, and so therefore it’s even easier for you to keep getting more and more clients! 🙂
With that said, not everyone should do high ticket coaching...
Who Should Do High Ticket Coaching
Are you good at what you do? For example, can you…
“(a) help someone lose 20 lbs and reverse their risk of heart disease? (b) help save someone’s marriage? (c) help a business generate 10 more sales calls per day?”
If the answer’s no, or if you’re not sure if you’re good at what you do, then you may want to hold your horses on doing high ticket (unless you follow the steps I’m about to share with you).
If you can create a transformation in someone’s life, love, body, or business…
Then a high ticket offer is definitely for you, and you’re leaving a lot of money on the table by not having one.
Which Car Is Safer… $50 or $50,000?
Price psychology is everything.
Would you really trust that someone can save you from getting a divorce, if they charged you just a couple hundred bucks?
The truth is - when you charge a higher price, people take you more seriously. They believe in you and your ability, and they’re the type of people who really do want to change.
Your job becomes more rewarding and you work with more motivated clients.
How To Set Up A High Ticket Offer
If you’ve been charging a relatively low price for a while, you may be wondering “how do I switch?”
And the thing is, it won’t happen overnight.
You can’t suddenly add a “0” or two to the end of your existing clients’ bills, and hope they’ll upgrade.
Instead, there are three key steps:
Idea
Validate
Scale
1. Your High Ticket Offer Idea
The first stage is coming up with an idea for your high ticket offer.
When doing this, it’s best to start with the end in mind. So, ask yourself this:
What is the OUTCOME I can best take my clients to?
The key here is to link it into one (or more) of the 3 “hot topics” which sell:
Health
Wealth
Relationships
For example:
Losing 20 pounds.
Making $10,000 extra per month.
Finding a life-partner.
If you’re concerned that your clients may not actually get to the outcome, don’t worry. I will help you have certainty on that in a moment, even if you’re brand new.
Once you’ve figured out the outcome, pop it into either an 8, 12, or 16 week program. Then reverse engineer what is required for your clients to get there.
This will then become your “Impact Offer™” → An Impact Offer™ is a high ticket, transformative offer. It allows you to get your time back as it fuses together an online course, plus live coaching along that course, plus personal consulting to make sure your clients are on track.
You need to come up with rough ideas for action plans for along the course of the course (lol), to make sure your clients are implementing what they learn.
Once you’ve done that, you have all you need…
But don’t just go ahead and start working on building out content. Here’s why:
One time, when I was at University, I noticed that all my peers were coming to me for asking for fitness tips (I started out in the fitness industry). So, I spent 3 months mapping out this whole fitness program for students.
I then launched it aaaand… Nothing ☹️.
While students said they were interested… When it came to financially committing, nope. Nothing.
So, I spent 3 months of my life working super-hard, with nothing to show for it.
Needless to say, I learned my lesson.
Instead - here’s what you’re going to do…
2. Your Test Pilots
In order to know that your Impact Offer idea is something that will sell, you first need to start conversations with people who want the outcome you’re offering, and get them on the phone.
If it’s a good fit, let them know about the new program you’ve been working on and invite them to join for a special price (50% off) under certain terms. We’ll speak about pricing in a moment, because I first want to speak about those terms.
What you’re going to do is deliver the content of your course to them each week. And, at the end of each week, send your Test Pilots a feedback form so that you can see what they like, what they don’t like, and how you can improve.
You’ll also collect their progress each week, so if they’re not moving towards the ‘outcome’ goal fast enough, then you know that you need to make your program better for next time.
Essentially, this allows you to work with a group of guinea pigs before going fully for it, to make sure you have the confidence to charge the high price, and to make sure it’s fair on the clients who give you a lot of money.
3. How Much To Charge
A question I’m asked more so than anything else is “so Lauren, how much should I charge?”
And the true answer is that… It doesn’t really matter.
Pricing really is a case of trial and error… But, I want you to ask yourself this…
Let’s go back to the “you” who was once struggling. Who was lost and confused and who knew nothing about the industry you’re now in.
If you were to gain all the information you now have… How much would you pay?
How much money would you have saved?
When I think back to my days of being an online fitness coach… If I could go back to the first day I decided to lose weight, and have gained all the info I have right now, I would have saved over $5,000 and years of unhealthy fat loss patterns which caused my body serious damage.
Similarly, if I could go back to the day I started my online coaching business and plant all the knowledge I now have, having helped thousands of coaches and consultants scale online businesses using the Impact Offer… I’d have prevented myself from being scammed for over $20,000, humiliated, stressed, and I would have been able to have generated at least an extra $20,000 per month since the beginning of 2016!
So - now it's time to separate the pack…
First, there are those who click off this article and continue on their quest to find the magic bullet for online business success.
(A bit like those clients you find yourself speaking to who make all the excuses, and who you know are never going to get anywhere)
And then there are the Impact-Driven Entrepreneurs… The coaches who are in this to change lives and build the business of their dreams…
They’re the ones who will achieve all they’ve ever wanted.
Those people get to reap the rewards of what I’m about to share with them for free...
And you’ve got this far, so I know you’re one of them.
You see, having helped hundreds of people build coaching businesses, I’ve identified 4 key pillars of gaining success as an online coach:
Offer
Marketing
Sales
Finance
It would take me hundreds of pages to type out here, so I created an online course which you can get instant access to, 100% free, by going to impactschoolmba.com
Zero payment information is required.
