High-ticket sales funnel: What it is and why you need one
2nd September, 2020
The idea of a sales funnel is not new, especially to marketers and business owners. It’s the basic concept of customers taking one step after another in the process of making a purchase with your business. This usually means taking the customer on a journey from awareness to consideration, then onto a decision and an action.
For online retailers, this could be the customer spotting a targeted ad banner while browsing the net, clicking the link, reading the product page and viewing the images, and finally making a purchase.
Sales funnels can be simple and short or intricate and long, but they all essentially function in the same way, regardless of whether you have a brick and mortar store, an e-commerce platform, or a lemonade stand on the side of the road.
But what about sales funnels for high-ticket items and services?
What is a high-ticket sales funnel?
High-ticket products and services are those that provide exceptional value and quality for the buyer – and a better profit margin for the seller.
As a rule of thumb, high-ticket items are those that sell for more than $5,000, although this figure is flexible depending on the product on offer and the industry (for example, this would be a laughably low figure for a sports car). The item on offer could be a handbag or consulting services, a dining table or a travel experience; there is no set boundary on what you could sell as high-ticket.
Therefore, a high-ticket sales funnel is one that leads customers down the same pathway of awareness, consideration, decision, and action. However, it is specifically created for customers of high-ticket products or services.
Why build a high-ticket sales funnel?
The primary benefit of a high-ticket sales funnel is that it naturally curates a collection of high-quality leads. It qualifies the leads you want and discards those who are not the right fit for high-ticket products or services. This means less time spent with back-and-forth communications, explanations, and careful sales tactics, and more time working with customers who are ready to buy in for a premium product from the get-go.
A high-ticket sales funnel is best to use when the price tag of the product or service on offer requires a high level of trust from your customer.
Throughout this kind of sales funnel, each step should bring your customer closer to a final purchase, but it should also build trust of you, your brand, the product or service, and the eventual return on investment the customer can expect.
This entire process serves to prove to your customer that you are more than capable of providing the product or service they need, and doing so in a way that inspires confidence at each step.
For you, as a retailer or service provider, this may mean more work in creating the sales funnel stages, but also a significantly higher profit made from each sale, and a more automatic process that can be repeated further down the track. It also has the added benefit of additional trust from the customer, which can often mean more creative freedom and agency when the customer is happy to step back and let you do your work without excessive interference.
Finally, a strong high-ticket sales funnel should also move customers through to the final purchase more quickly than a standard funnel. This faster turnaround can mean more income in less time, and a healthier bottom line overall.
“Price is what you pay, value is what you get”
― Warren Buffet
How to create a high-ticket sales funnel
Every sales funnel can be different. However, and as describe before, a sales funnel on your website is a sequence of different pages that takes your potential client on a journey, from becoming aware of you and your service to the point of trusting you are the right person or business to trust for the job.
Usually a HTSF will have at least:
- An opt-in page integrated with your email marketing system
- A piece of content that provides value to your funnel visitor
- An application form that qualifies them as potential value customer
- For those who qualify: a booking system or contact form where they can book a time with you
- For those who don’t qualify: an alternative page that presents a different offer
As you can see the funnel can become an intricate journey depending on the response of your funnel visitor. To create a funnel that works well you need a comprehensive strategy that defines your goals, the high-value service, and who is the right customer for these services. Plus it needs to integrate with your current marketing and booking systems effortlessly.
Creating a High-Ticket Sales Funnel by yourself will take a lot of trial and error to optimise your funnel. Alternatively, you can opt for our professional pre-designed process with a series of clear steps that will help to attract and convert high-value customers for your high-ticket offerings.
Visit our HTSF Solution page to learn more about how our high-ticket sales funnel package can result in better leads and better profits for your business.