“How to Sell Big Ticket Items Using a Product Value Ladder” written by Mike Marko.
Are you struggling with how to sell big ticket items online?
I know, I struggled for quite a while myself with how to sell big ticket items. It can be intimidating at first… you may think that it will be challenging to sell, and that it would be easier to sell cheaper products and services.
That is far from the truth. It is much easier to make an income from being able to sell big ticket items than lots of smaller ticket items.
But there is a method to being able to sell big ticket items… and that’s what I would like to discuss today.
How to Sell Big Ticket Items Using a Product Value Ladder
In the following video I talk about using a product value ladder.
[jwplayer player=”1″ mediaid=”20700″]
As you can see in the video, using a product value ladder can be used to help sell big ticket items. The product value ladder can be a important way of working customers and clients up to the big ticket items.
Let’s talk in great detail about the different axis of the table.
Product Value Ladder – Cost
When you start from left and go right on the Product Value Ladder chart above, you begin with something that is very low in cost (or even free). This is the “entry” level position in your product value ladder. From there, as the customer/client goes right the products and services increase in cost.
For example, I recently created an Instagram Marketing Mastery course. It was a natural progression from our blog and YouTube channel free training for those looking for more information. From there we offer more advanced training products, group mentoring, and personal one-on-one mentoring and consulting.
This creates a natural progression in the range of services you provide for one level of competency. Your client can then either progress naturally as needed from left to right, or take a “shortcut” and jump to a higher level of service. The option is there for them. This gives customers more than one way to approach your big ticket items for consideration.
Take a look at your own products and services, and see if you can find the natural progression in price for similar products. Create a similar chart. You may find that you may have to add additional offerings to help with the progression to sell big ticket items.
Product Value Ladder – Brand
Not only is it valuable to have a natural progression in ascending product and services costs, but you should also consider consider what you have to offer as your customers completely one core competency and want more.
In the example above we give a shortened example of the services we provide. Starting with Instagram Training, we go up in competency to SEO Training, Consulting/Mentoring, and then Done for You Services. As the clients build their business we offer more… growing the level of our services as our customer’s needs grow. And as the core competency level increases, so does the cost of that product or service.
This can also be done for educational products, physical products, etc. Take a look at your products and services and see if you can arrange them in ascending order like I did. This exercise help illustrate to use that even more competency levels are needed in our business. You may find the same.
How Do You Use The Product Value Ladder
Once you have your product value ladder created, you can start putting together a series of marketing funnels to help promote your products and services. The product value ladder will make this much easier. It may take some time, but the effort will be well worth it.
Final Thoughts On How to Sell Big Ticket Items Using a Product Value Ladder
As I mentioned, using a product value ladder can help you sell big ticket items. Be sure to go through this exercise as soon as possible. You may find that with some minor changes and rearranging how you offer them, you will start increasing your ability to sell big ticket items.
If you want help in planning your product value ladder, feel free to contact me and we can talk about how we can help.
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