High ticket closing is legit because high ticket closers can earn 6 to 7 figure incomes by selling premium products to high ticket clients. Aaron Martinez from Remote Closing Academy says that high ticket closers can earn $10,000 to $40,000 a month. There's a potential to close lucrative deals in industries like the luxury goods market, high end business consulting, and AI software, and healthcare.
However, high ticket closing has challenges, like earning a commission-based income without a base pay and difficulty finding high value clients. You need knowledge of advanced closing techniques and high stakes communication for closing deals. Kevin Yee of Kaizen Closing mentions that high ticket closing is hard because deals can often fall apart at the last minute. He shares that remote closers end up relying on limited opportunities in an already competitive market. Even high-performing sales teams only close 30% of sales qualified leads (SQLs), while an average salesperson only closes 20% according to Dooly.ai.
In this article, we're going to examine if high ticket closing is legit for making money online. We'll also provide 4 tips to get more high ticket closes from clients. We also discuss an even more profitable business model than high ticket closing.
What Is High Ticket Closing?
High ticket closing is a sales approach that involves selling high-value products or services to potential customers. This type of closing focuses on markets like luxury goods, high-end real estate, or specialized business services. High ticket closers apply premium client nurturing and upscale service delivery to entice prospects to buy their offers. Dan Lok of High Ticket Closer Certification is an example of a successful high ticket closer who has authored books, conducted seminars, and offered training programs on high ticket selling.
4 Cutting-Edge Tips On How To Get More Closes
1. Understand what motivates your consumer's behavior
Understanding what motivates your consumer's behavior helps tailor your sales approach to their specific psychological and emotional needs. According to a study by Harvard Business Review, 95% of purchasing decisions are made driven by emotional factors. For example, in luxury car sales, buyers might be driven by status, while in high-end real estate, they might want exclusivity. Recognizing these emotional factors helps in crafting more effective sales strategies. It's about connecting with what the customer truly values and desires. By focusing on these emotional motivators, you can increase your chances of successfully closing high-value deals.
2. Develop a value proposition that caters to your ideal buyer
Developing a value proposition that caters to your ideal buyer communicates how your product or service solves a customer's problem or improves their situation. In a Salesforce report, it's shown that customers are 80% more likely to purchase when they feel their needs are understood and addressed. In high ticket sales, your value proposition should focus on what makes your offer special, like its exclusivity or high quality. This approach can attract the right buyers, making it more likely that you'll make successful sales.
3. Create exclusivity with your customer service
Creating exclusivity in your customer service can enhance the appeal of high ticket items. According to a study by Accenture, 75% of consumers are more likely to buy from a company that knows their name and purchase history. This shows how personal touches in service can make a big difference. In luxury sectors like high-end hotels or premium car brands, providing VIP treatment to customers is standard practice. It makes clients feel special and valued, which is essential when selling expensive items. This type of service can attract more buyers and help close big deals.
4. Infuse scarcity tactics that make your target market take action
Using scarcity tactics in high ticket sales can push buyers to make a decision quickly. The Journal of Consumer Research found that people value things more if they're rare. An example of a high ticket sale in the luxury car market is a model from Rolls-Royce, the Rolls-Royce Phantom. This model is known for its exclusivity, luxury features, and high price point, making it a quintessential high ticket item in the automotive world. Vehicles like the Rolls-Royce Phantom are often sought after by affluent clients and are a prime example of high-value products in high ticket sales. This creates a sense of urgency, making people more likely to buy quickly to avoid missing out. Such tactics can effectively speed up the sales process in high ticket sales.
How Much Do High Ticket Closers Make?
High ticket closers make around $77,000, which can range from about $28,000 to $140,000, according to ZipRecruiter. The income of a high ticket closer varies because of industry, the value of the products or services being sold, and the individual’s sales skills. Top earners, especially those with strong sales skills and who work in high-value industries, can earn significantly more.
Yes, high ticket closing is a good way to make money online in 2024. A high ticket closer can make up to $80,000 or more per month if they’re selling high demand products. However, you need to undergo sales training to understand the products or services you’re offering. Finding a legit sales mentor helps.
How Do High Ticket Closers Get Paid?
High ticket closers typically get paid on a commission basis. This means their income directly relates to the number of sales they close. The commission rate ranges from 10% to 20% of the sale price, according to Dan Lok “King of High Ticket”. For example, if a high ticket closer sells an item or service priced at $10,000, they could earn between $1,000 to $2,000 per sale, depending on the agreed commission rate. They may also partner with a business owner or high ticket partners. The commission rate can vary based on the industry and the value of the products being sold. Some high ticket closers might also negotiate bonus structures or additional incentives based on their performance in closing deals. The key in this role is the ability to successfully negotiate and close deals, which directly impacts their earnings.
Is High Ticket Closing Hard?
Yes, high ticket closing is hard because it involves developing an elite sales mindset to understand the unique needs and concerns of a potential client. You need experience in sales and negotiation to become a high ticket closer. If don't know how to use a sales script to talk to prospects, you won't close any deals. This is why 92% of salespeople give up after getting 4 rejections. A user from Reddit shares that some high ticket sales isn't easy and some offers are only selling you on a pyramid scheme.
What Is The Difference Between High Ticket Sales And High Ticket Closing?
The difference between high ticket sales and high ticket closing is its scope. High ticket sales is the entire process of selling something high ticket items. High ticket closing is only one step of the entire sales process. High ticket sales includes finding leads, talking to customers, showing them the product, explaining how it's good for them, and negotiating the price. High ticket closing It's the step where you actually get the customer to say "yes" and buy the product. This is where you deal with any doubts the customer has and convince them to make the purchase.
What Is High Ticket Affiliate Marketing?
High ticket affiliate marketing is a business model where affiliates promote a high ticket product in exchange for a commission. In this model, an affiliate marketer joins a high ticket affiliate program like Liquid Web Affiliate Program and Amazing Selling Machine. You earn more per sale compared to traditional affiliate marketing. High ticket affiliate marketing is different from high ticket closing because affiliate marketers only promote the products. They are not involved in the sales process or in closing deals.
What Are The Best High Ticket Courses In 2023?
Dan Lok's High Ticket Closer is one of the best high ticket courses in 2023 because it focuses on teaching effective sales techniques for high-value items. The course covers how to communicate with potential buyers, handle objections, and close deals successfully. Lok's training is known for its practical approach, providing real-life sales scenarios and techniques that can be directly applied. His program is tailored for those who want to excel in high ticket sales, making it a specialized and targeted learning experience.
Cole Gordon's Remote Closing Academy concentrates on remote closing skills. This course emphasizes methods and strategies specifically suited for selling high-value products or services remotely, such as over the phone or through online communication. Each course offers unique insights and techniques based on the expertise of its creator, catering to different aspects of high ticket sales.
Dylan Blyuss' Millionaire Closer provides comprehensive training on how to become successful in high ticket closing. The course offers over 50 hours of detailed video training that covers important sales techniques and mindset strategies needed for closing expensive deals. It's particularly suitable for those who aim to make significant income through high ticket sales. Additionally, the course includes extra resources like a private Facebook group for further support and networking.
How Does Local Lead Generation Compare To High Ticket Closing?
Local lead generation and high ticket closing are different in key ways. While high ticket closing involves big sales of expensive items, local lead generation is about finding customers for local businesses. This can be a steadier job because you're constantly bringing in new leads. Local lead gen often works better than trying to get clients for big, national companies because it's more about building relationships in your community.
Local lead generation involves setting up a website, optimizing it to appear on Google's first page for a local service, and then leasing out the generated leads to nearby businesses. This model is generally more passive compared to high-ticket closing, where you might spend all day on calls waiting for leads. High-ticket closing can often rely on factors beyond your control. In contrast, local lead generation provides a more consistent and manageable way to earn by supplying leads to local businesses. This business model provides a more consistent and scalable income source if you're looking to make money online.
