3 High-Ticket Pricing Strategies
(These pricing strategies work even during crisis!)
When I ask, “What’s your biggest challenge with high-ticket offers?” I always hear:
This can mean a lot of things…
- Not knowing what to charge
- Being afraid that people won’t pay that
- Worrying about whether it’s ‘worth it’
- Worry about whether you’re worth it
- Feeling greedy charging high-ticket
Even if you don’t have mindset issues in the way, high-ticket pricing strategies can still be tricky.
Check out my 3 High-Ticket Pricing Strategies to help cut through the confusion:
#1: Pay yourself well
I suggest when transformational entrepreneurs are figuring out the price for a High-Ticket Offer that they calculate the amount of hours of private time they will be spending per client.
For example, if you include 8 30-minute sessions with an offer, that’s 4 hours. Let’s say you add an Intro Call that’s 60 minutes. Now we have 5 hours total.
Now price yourself at $300 to $500 an hour. (Hang in there, this will work out!)
So the pricing strategy for your High-Ticket Offer is to price it between $1500 and $2500.
Of course, you won’t sell it to your prospective client by saying ‘I charge this much, therefore the price is…’ Instead, you’ll focus on the benefits of the Offer.
Most coaching or healing High-Ticket Offers can easily be priced at $1997 or more, as long as they are positioned with the right benefits. And yes, you can limit your private time!
#2: Set yourself on a higher plane
It’s common when considering high-ticket pricing strategies to look at our colleagues (otherwise known as competitors.)
What is someone else charging for their High-Ticket Offer? What if they don’t have a High-Ticket Offer, but just an online course and it’s $47?
That’s OK. You get to elevate yourself to create more impact.
Think about different models of cars. There are cars that are $15K, even new, and cars that are $50K, 100K, and more – even used! It’s the same with clothing stores, too.
Do you want to be the Walmart of your industry? Or would you rather be the Nordstrom’s? Or Saks Fifth Ave?
You get to price yourself higher than your colleagues and make a statement doing that. What do you want YOUR brand to stand for?
Standing for excellence and uncompromising quality is a good stance.
#3: Do the math
With this pricing strategy, you’re first going to look at what you WANT to make in a year. Perhaps that’s $75,000. Maybe it’s $150,000. (What you WANT, not what you think you can do 🙂
Now ask yourself how many High-Ticket Clients you can handle in a year. Perhaps you can handle 10 a month, and your High-Ticket Offer will be 3 months long, which means that you’re working with 10 clients for 3 months, then you get 10 more. So you can only take 40 clients a year, maximum.
Now we can do the math. If you want to make $75,000 with 40 clients, each client must pay you at least $1875. If you want to make $150,000, each client will have to pay you at least $3,750.
Now that you have an idea of what you might charge, what could you offer that would be worth that amount of money? Now you’re working back from price, to transformation.
This is complicated, and we haven’t even started talking about the mindset of pricing.
Let me suggest you get some help 🙂
Want to create your own High-Ticket Offer, and price it right? Join my ‘High Ticket Offer Challenge’ and create something in just 5 days that you can sell for thousands of dollars!