How to Sell Expensive Products
Research your buyer persona
When making high-ticket sales, you can’t use pricing, features, or benefits as a selling point. Instead, you need to do extensive research on your target audience. This includes knowing your prospective customer’s pain points and their motivations for wanting to make a purchase. You have to do research and create your buyer persona based on what your ideal customer looks like.
Qualify every lead before your sales call
Like any other lead moving through your sales funnel, high-ticket leads need to be qualified before you give them the final sales pitch. You need to develop criteria that they need to fit in order for them to be classified as qualified leads. Making a sales call prematurely can result in your sales team not being able to close the deal. Once a lead is qualified, preparation will be the key to your success.
It is important to always do extensive research on the lead and their industry. High-ticket leads won’t compromise on the quality of high-ticket items; they want to ensure that you are a professional and understand the problems they encounter. Being prepared will allow you to control the call from the beginning because you will be equipped with the knowledge to deal with any of their concerns while proactively offering a solution.
Craft a high-ticket sales script tailored to your buyer persona
Your sales reps may be able to use the knowledge that they have of your product or service and the extensive research they have done on the prospect to carry them through a sales call. It won’t hurt to use a sales script to ensure that they cover the main points and ask well-thought-out questions to elicit specific responses. Following a script won’t limit the conversation to the sales pitch; it is there to guide your sales reps to have confidence in the direction of the call.
When you craft a high-ticket sales script, you have to use the information you have on your prospect, including their pain points and reasons for wanting to buy, to tailor your script. This will highlight their importance to you and allow for the conversation to flow freely.
Prepare high ticket sales objections
When dealing with a high-ticket prospect, you may come across some sales objections. Some common objections that prospects might have include a lack of need for your product, lack of urgency to make a purchase, lack of trust in your business, and the price of your product.
Your sales team can be better prepared to handle these objections by following a four-step approach to overcoming objections:
- Actively listen: Focus on what the prospect is saying instead of reacting immediately or defensively.
- Understand the objection: Listen out for the true underlying reason the prospect is expressing an objection. Repeat their objection to them to show that you understand it and ask more questions.
- Respond accordingly: Once you understand the objection, you will be in a better position to give an informed response as you attempt to resolve the issue. It is always best to resolve it as soon as it arises.
- Confirm that the objection was addressed: Ensure that you have addressed all of their concerns and get their thoughts on the solution that you provided.
Leverage case studies
High-ticket sales involve expensive products, and a common sales objection that might arise is the prospects not being sure about your product or your company. To prepare for this kind of objection, your sales reps can use social proof to show them that your product has worked for your other customers. Social proof helps you build trust with your prospect and validate their buying decisions.
Social proof can be in the form of case studies. You can use case studies to show your prospects to the people or companies you’ve worked with in the past; this works best when you can mention big names. You can also include statistics to prove that your solution worked well. You also include key features that worked best for your previous customers and add a story about how your product changed their lives.
Use scarcity and urgency
You can use scarcity and urgency tactics to drive your sales. Scarcity tactics are used to make your prospect perceive your product as limited which will compel them to buy before they run out. This tactic also reinforces the idea that your product is of high quality and value since a large number of people are buying it. The urgency is a time-based tactic which drives your prospects to make a purchase out of the fear of missing out. You can employ these strategies by:
- Include work and phrases such as “closing soon” or “limited time offer” in your messaging to compel your prospects to act.
- To elicit the fear of missing out, use the loss aversion technique. This allows you to focus their attention on what they lose instead of what they could gain.
- Limit what you’re selling to make it seem as if there is great demand for your products but a limited supply.
- Set a time limit to the duration of the availability of your product and set a timer to let your prospects know that the offer won’t last long.
Reduce risks by offering guarantees
Offering guarantees to your prospects, especially for high-ticket items, alleviates any concerns and doubts that they might have about it. Guarantees take away the risk as they will be able to return or refund the product if they are not satisfied. Here are a few guarantees that you can offer your prospects:
- Free trial
This offers a great way to give your prospects an idea or feel for your item; it allows them to try your product without any commitments.
- Time-Based
This is a very popular guarantee, and for a good reason. If your customer is unsatisfied with your product or service within a specific time period, they are entitled to a refund.
- 100% Satisfaction
This increases trust in your product because you guarantee results. It showcases that you believe your product actually works well.
