Selling is hard. 99% of us don’t do it very well and most people try to avoid it altogether. But sales strategies from years ago aren’t as effective today as they were then. You must make a consultative approach and personalize your sales process.
Selling high-ticket items is a consultative process
Selling high-ticket items is not just about making a sale. It’s also about fostering a consultative relationship with customers. While transactional selling may be successful when the client already understands what he wants, consultative selling may be more effective if the customer needs help understanding the solution and his own needs. For example, a client who wants to buy customer onboarding software may need assistance evaluating pricing plans and integrations.
The consultative selling process is a proven strategy for gaining the trust of potential clients and making sales. This approach is also referred to as a sales formula or framework. Regardless of what type of product or service you are selling, the most important thing is to master this approach and be consistent with it.
It requires a consultative approach
Many salespeople make the mistake of only thinking about product features and benefits when it comes to selling. Although this mindset may have worked 30 years ago, buyers are savvier now and less willing to tolerate an unsatisfactory sales experience. Instead, salespeople should think about how to better engage prospects with a consultative approach.
The consultative approach focuses on the needs of the customer and finding solutions that address those needs. Instead of using a standard sales pitch, a salesperson should position their products as the perfect solution to a customer’s problem.
It requires longer sales cycles
High ticket sales are harder to close than lower-ticket sales. This is because the decision to purchase a high-ticket item is often more complex. The decision process may last months, and it may take several meetings to persuade all stakeholders. As a result, the sales cycle is often longer than with lower-ticket sales.
To overcome this challenge, it’s important to understand how sales cycles work. In simple terms, sales cycles are a map of the process salespeople must follow to close a new client. They chart a prospect’s journey from problem discovery to purchase. For small businesses, the sales cycle will be relatively straightforward and direct, while a larger organization may have a more roundabout sales process.
It requires personalization
In an age where people start their journeys online, countless high ticket sales are turning to the internet to buy their next big ticket item. While a website can make this experience seamless, businesses should not forget to be ultra-human. Embedding live video chat on their website, such as ServiceBell, allows them to interact face-to-face with their customers when they need to. When a customer calls, a salesperson will answer the call. This personalization makes a business stand out and builds rapport with potential high-ticket customers.
It requires overcoming objections
In order to succeed with high ticket sales, salespeople must understand how to overcome objections effectively. The key is to understand the reasons behind the objection and provide a compelling case for overcoming it. Imagine that you’re standing before a prospect with $450,000 on the line. A few months into the sale, you see the finish line in your sights. Unfortunately, many deals fall apart at the last minute. This is due in large part to sellers who rush through this critical objection phase without understanding the reasons behind the objection.
There are many ways to overcome objections, but the most effective way to deal with them is to understand them and to address them. By understanding the objection, you can address the actual problem more quickly and close more deals. Bo Bennet is often quoted as saying that “objections are not rejections.” The key is to listen carefully and give relevant information.
It requires quality lead generation
The key to high ticket sales success is not having a product or service that sells itself. Instead, it’s developing a list of prospects. That list will grow over time. You must have a system for prospecting that works for you. Many successful independent salespeople don’t have one single product or service that they sell, but rather, they build a portfolio of complementary products and services.
The high-ticket items in your funnel shouldn’t be hidden away on your website or buried at the bottom of your sales funnel. You should be upfront about the cost and qualify your leads. This will help you knock out leads that are not able to afford your products or services.