In today's bustling market (where AI is taking it over and every day someone is finding a new way to automate something 🤖), understanding why clients are ready to pay more for high-value offers is crucial for business owners, coaches, and consultants looking to grow their businesses. It's not just about the price; it's about how people feel about the offer and what they believe they'll get out of it. Let's explore some key reasons why people are willing to invest their hard-earned money and how you can use this knowledge to create winning packages (aka make more money and have more freedom).
Understanding Perceived High-Value
If you understand and start seeing what perceived value means, I can promise you can't unsee it. That is the secret sauce of the high-ticket industry (and all high-fashion brands). It's because clients associate premium prices with high quality. And let's face it, 99% of it is true. If we look closer at Hermes bags or luxury cars, then we can really see the difference in quality. Remember that exhilarating feeling when you drive a brand-new car off the lot? No one can convince me to buy used cars, even Warren Buffett. Since buying only new ones, I have never visited any car repair or had a "car problem." Similarly, when you present your services as extraordinary and life-changing, clients will be more likely to pay a premium price.
For example, a business coach who has helped several start-ups reach their first million in revenue can position their services as unique and transformative. I used the same strategy years ago when I launched my start-up PreVision, where clients can walk into their future offices, homes, and gardens. We combined Oculus Rift technology with the Unity game engine. We built an app dedicated to the final user, who didn't want to wait long hours or days (not the case anymore since computers now have so much power) for their visualizations. We made the process so easy and interactive that they could design their dream houses in real time next to architects. The only problem was price, so we only target wealthy and ultra-wealthy clients. However, I knew from my friend's architects that making project changes took time and effort. And I knew many would pay extra to see changes in real time. Here, you can see a few screens and videos from our app.
Want to learn how to make your services shine? Join our High-Value Offer Workshop and attract your ideal (high-ticket) clients in 21 days or less!
The Role of Trust and Authority
Trust is super important when clients decide to buy high-value offers. They need to trust that you're an expert. You can build trust by sharing stories from past clients, showing your qualifications, or even writing helpful articles. Clients who see you as a trusted authority are more likely to pay for your services. Suppose you are a consultant who consistently publishes insightful articles. In that case, you can quickly position yourself as a credible source in your niche.
There is also trust in the client's own abilities to do the business. What I mean by that is that they might trust you but are still determining if they are willing to accomplish that project. Based on their past experiences, they know they gave up easily many times or lost interest. So they might want to hire you or your company but must believe in themselves first (or their own abilities to do the things). It is so crucial that your sales team navigates that during the sales process and is willing to explain how you and your company can support clients so they will achieve their dream results. And that trust in themselves sometimes might be more important than trust in you. Make sure to collect that information from sales calls and prepare a special support value package so your clients will receive enough support from you. You will educate them through your marketing message on overcoming this lack of trust in their abilities.
If you want to build a highly effective sales system or improve an existing one, check out my free five-day live event, The 7-Figure Sales Challenge. Secure your spot here.
Emotional Connection and Storytelling
People often buy things based on how they feel. Sharing your personal story can help create a connection with potential clients. Talk about your journey, the challenges you've faced, and your successes. For instance, a life coach who shares their personal transformation story can inspire clients by showing that change is possible. Clients who feel connected to you are more likely to invest in your high-value offers.
If you have children, you can incorporate that into your marketing message and talk about your solution and how that thing that you discovered also impacted your family. Clients with children are more likely to buy from family-oriented coaches because they understand them more. It is the same if you travel a lot, and if you share your travels, you will attract clients who enjoy traveling. The more of your life you will show, the easier it is for clients to resonate with you. Of course, you decide what you want to share, and that is completely fine if you don't want to share too much of your personal life. Then, you can focus purely on clients' testimonials and focus your message around your client's results.
Want to learn how to make your services shine? Join our High-Value Offer Workshop and attract your ideal (high-ticket) clients in 21 days or less!
The Scarcity and Urgency Effect
Scarcity and urgency can make people want something more. If you tell clients that there are only a few spots left or the offer ends soon, they may need to act quickly. This feeling of urgency can encourage people to make a decision right away. For example, a consultant offering a limited-time discount for their premium service package can motivate potential clients to commit sooner. You can use the same techniques when selling your group advanced masterminds. You can inform people daily how many spots are taken so that potential clients will know if seats are still available. Building some hype around your offers never hurts.
Value Alignment and Transformation
Clients are more likely to pay for services that match their values and promise a change or transformation. If you can explain how your services can impact your client's desires in your marketing message, then the first step in client acquisition is done. When a business owner sees that your strategies align with their vision for growth, they're more likely to invest. Clients who see that your offer can make a significant difference in their lives are more willing to invest. And later on, they will bring you more clients. One of the best strategies for sustainable growth for your business is to get crazy results for your clients, and they will bring you more clients. So simple and so effective. If you think about all the time and effort (and money, of course) you could spend on ads, campaigns, and branding... and allocate 10% of this time to go all in on your client's results, this 10% effort will bring you more clients that you could ever dream of. Plus, testimonials will help you and your sales team close another wave of new clients.
Want to learn how to make your services shine? Join our High-Value Offer Workshop and attract your ideal (high-ticket) clients in 21 days or less!
Understanding Social Proof for High-Value Offers
Social proof occurs when people see others benefiting from a product or service and want to try it themselves. You can do it simply by sharing your client's testimonials, adding a few of your case studies to your business proposal, and asking for reviews on your Facebook page or Google profiles. For instance, a coach showcasing previous clients' success stories can attract new clients eager to achieve similar results. If that system worked for Anna, John, and Stephanie, it will work for me, too, right? Not exactly. We must remember that Anna, John, and Stephanie might be on entirely different business stages and might need completely different solutions and tools on their business journey. It's a typical mistake many coaches and consultants make when starting their business journey. If you are good at running ads, you want to offer this to thriving clients who wish to scale. If you are helping clients find their niche, you are not offering that to investors. To ensure you will adopt the right strategy for the clients on the right business stage, I put together a minicourse, "700 Leads in 7 Days," to explain how to communicate with these clients at different stages. The best part? You can get access to this course completely free:
Your Call to Action: Join the School of Sales and grab the "700 Leads in 7 Days" minicourse with templates for free!
Leveraging Exclusivity
Exclusivity can make an offer more attractive. Clients who feel like they're getting something unique that not everyone can have are more likely to pay more. For example, a consultant offering a VIP package with personalized strategies can create a sense of exclusivity. That might also be your UVP (Unique Value Proposition), which you can use while launching a new business. Your competitors might have a massive audience and teams, but if your clients are considering buying from them versus you, explain that they will have access to you on strategy calls and during all Mastermind or 1:1 working with you. Many people are looking for this individual approach because they haven't found success working with "big gurus" teams.
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Magic of Status and Social Currency
In our world, showing off our status is like a fun game. If you need more clarification or want to understand the game manual, check out Instagram. Whether a fancy car or a trendy handbag, these tell others about our success and style. Even though we know these things have nothing to do with an actual net worth. This isn't just about being rich (often just looking rich). It's about sending a message that we belong to a particular group. Brands that understand this (like Chanel, Prada or Royce Rolls) can create products that people are excited to buy, not just for their looks but for the special feeling they give. It is not about just having that thing but also the whole experience. By tapping into our desire to be seen and admired, brands can offer more than just products - they offer a sense of belonging. So, next time you see someone with the latest gadget or fashion piece, remember: it's not just about the item but the story and status behind it.
If you are a coach, consultant, or business owner aiming to sell high-ticket offers to premium clients, you should understand the dynamics of status signaling and social currency can be invaluable. You can easily attract clients by positioning your services as exclusive and prestigious.
Especially those who want to be associated with top-tier expertise. This involves crafting an image of authority and success by showcasing testimonials from well-known clients or highlighting unique methods that set you apart. When potential clients perceive you as part of an elite group, they're more inclined to invest, seeking the service and the status of working with the best in the field. The fastest way to do it is to start blogging and showcase your expertise in the best magazines in your niche. Think about it this way. If you are a business coach, you want to be featured or write an article for Forbes, Entrepreneur, and Inc. If you are a health coach, you want to have a podcast about it and be interviewed by Dr. Huberman.
Crafting Irresistible High-Value Offers
Now, as you understand better why people want to pay more for high-value offers can help you create packages that attract and convert clients. Focus on perceived value, trust, emotional connections, urgency, value alignment, social proof, and exclusivity to craft offers that resonate with your audience.
Want to learn how to make your services shine? Join our High-Value Offer Workshop and attract your ideal (high-ticket) clients in 21 days or less!
I really understand now why clients are willing to pay more for high-value offers is crucial for business owners, coaches, and consultants. This will help more people to understand the benefits of it, Thanks for the Info Martyna!!