The Perils of Low-Priced Product Sales
Too many people try to build their businesses solely on selling low-priced products. That might work for huge corporations like McDonald’s, but for small businesses, it can be devastating.
Simple math shows that you have to sell a lot more copies of a low-priced product to make a given amount of revenue. For example, 370 copies of a $27 product bring in about the same as just 20 sales of a $497 product.
Typically, almost all of those sales will be to new customers, which is where the cost of acquiring a customer comes into play. If you only sell low-priced products, you can’t afford to spend much to get a new customer, at least not without losing money. That makes it hard to scale your business.
That’s bad enough, but it gets worse. Many of these businesses have few or no other products available, so once they go to the trouble and expense to get a new customer, they have nothing else to sell to that person.
The solution to this problem is to develop a range of products and services in a variety of price ranges, which is commonly called a marketing funnel.
We’ll get into more about how to do that later in this report. The key thing to remember right now is that you can do this, too. You don’t have to create the entire funnel at once. You don’t even have to know everything that will be in your funnel to get started creating it.
If you’ve only sold lower-priced products so far, you might be surprised to hear that creating high-ticket products and services is easier than you probably think it is. A lot of the difference is how you format and present your content and knowledge.
For example, the same content could be sold as a $25 book, made into a video training course priced at $197-$997, or taught at a $3000 live event.
In the upper range of the price scale, items in a funnel tend to be services rather than products. In many cases, the service consists mostly of helping people through the material and answering their questions. This type of service is fairly easy to create, as opposed to coming up with something completely different.
If you can write that $25 book, you’re probably qualified to coach people on the same topic and could charge 10-20 times the price of the book for an hour of your time.
The main challenge for most people in this situation won’t be doing the actual coaching. It will be convincing yourself that your service is worth the premium price and that you are “good enough” to coach people or perform other high-ticket services for them. (Hint: If you’re knowledgable enough to write a book and you truly care about the client, you are good enough to coach them!)
Important Note: We are not telling you to avoid selling low-priced products. Those products have their place. Our point is to stress the importance of adding higher-priced offers to your funnel.
Two Ways to Sell High-Ticket Offers
If you haven’t sold high-ticket offers before, you may be nervous about how to go about doing so. There are two main methods people use to do this.
The first strategy is to start by selling someone a low-priced product, then offering them the next highest-priced item in your funnel, and so on, working your way up the price scale. Some of this is done via upsells right after someone makes a purchase, and the rest is done by followup marketing to existing customers.
That is probably the most often-used strategy since it seems logical that new customers would be more likely to buy the lower-priced items first. That is certainly the case with some customers, but not all of them.
The real danger of this sales strategy is that most of your customers never get exposed to your highest-priced products because they haven’t yet bought the products in the middle of your funnel.
Leading with Higher-Ticket Offers
We like the second strategy better. It’s almost the direct opposite of the first one. You present your higher-priced offers first, then if the customer declines them, you offer them the lower-priced items. This gets your high-end offers in front of more people, faster.
Believe it or not, some people are more ready to buy your higher-priced stuff than your entry-level items. Maybe they’ve already gone through your competitors’ low priced products and are now looking for coaching, a more advanced (and higher-priced) program, or someone to do the work for them. If all you’re advertising to new people is your entry-level ebook, they will have no idea you even offer those other products and services, so they will look elsewhere for what they want.
When it comes to selling those high-ticket items, especially to first-time customers, you do need to take a different approach to it. If you’re used to using methods like Facebook or Google ads to send people directly to low-priced offers, you’ll find that having ads like that go to high-ticket items doesn’t work so well.
The Best Way to Make High-Ticket Sales
Here’s what we’ve found works well: strategy sessions. A strategy session is a short, free, one-on-one call between you and the prospect. An average call lasts 15-30 minutes. It’s not a sales call, although sometimes it will result in a sale. The main purpose is to see if the prospect and your product or service are a good fit for each other.
As much as you might want everyone to buy, eventually, you’ll realize that’s not ideal. Some of the people you talk with won’t be a good fit. Your offer might be too advanced or too basic for where they are right now. They might have goals that don’t align with what you offer. Or in the case of something like coaching, there might be a personality conflict.
Trust me, sometimes politely telling the prospect you’re not the right person to help them is the best thing for both of you. Otherwise, there is a risk of selling to someone with unrealistic expectations or who won’t take any action or won’t get along with you, and none of those are good things.
The phrase strategy session comes from the world of coaching, though the concept works well with almost any high-ticket offer, especially services.
The Key to Setting Up Strategy Sessions
So how do you get people to sign up for strategy sessions? First, realize that you can only fit so many of these calls into your schedule, so you should be selective about who gets one. The best way to do this is to make people fill out an application, an online form with some questions they have to answer before they can get on a call with you.
Having an application accomplishes several things. It helps you gather some information before the call about what the prospect is looking for. In some cases this will be enough for you to realize you can’t help them, so you can politely cancel the call and save yourself both the time. It shows the prospect you’re serious by asking for the information upfront. In addition, it helps you prepare for the call by having some idea of what questions or problems the person has. It also weeds out people who aren’t serious enough to spend a few minutes filling out the application.
Scheduling Strategy Sessions
Setting up this process online used to require you to set up two pieces of software. You needed one to create the application form and another to let people see your available times and schedule your call. Several software products can create online forms and a bunch of others for scheduling.
We’ve tried cobbling together various combinations of these products, looking for the best solution. We quickly found that if we have people book time first, many of them don’t bother to fill out the application, either because they’re confused or think it’s OK to skip that step.
If we have them fill out the application first, many of them who do so don’t book a time, for whatever reason.
We found ourselves having to do a lot of manual followups to get everyone signed up properly, and the whole point of this was to have an automated system that prospects could easily use to apply for and schedule a call.
A Software Solution
Unfortunately, there wasn’t one software package that did both parts of this process, so we decided to create our own. We now make it available to our clients. It’s called TimeSlots, and if you’d like to know more about it, you can watch this video.
Once we had the software issue solved, we set out to find the best way to let the most-qualified prospects know about our strategy sessions and encourage them to sign up for one.
Promoting Strategy Sessions
We’ve had some success sending traffic to strategy session signup pages from online ads, and of course, traffic from your email list can work very well.
What has worked well for us is webinars. Webinars are proven to be great for making sales, so we thought why not offer a free strategy session instead of selling something directly on the webinar?
It worked even better than expected. Maybe this is because people are so used to hearing sales pitches on webinars that they are pleasantly surprised when you offer them a free call instead.
Use the presentation part of the webinar to show your expertise and teach your audience something, then use the pitch part to offer the free strategy session. People who will sit through the webinar long enough to get to the offer are usually more serious and better-qualified candidates for your high-ticket offers, which makes them ideal for strategy sessions.
There are other uses for strategy sessions besides qualifying prospects. A good one is market research. If you are putting together a high-ticket course, do some strategy sessions to find out what problems and questions people in your target market have. This is a great way to make sure your course covers everything it should. It will also give you some good ideas to use when it’s time to write the sales material for the product.
The Benefits of Premium Pricing
Making more revenue per sale is just one benefit of adding higher-ticket offers to your marketing funnel.
Here are a few more:
You can help people much more by selling them a higher-ticket service that allows you to spend time with them than you ever can from putting all your knowledge into a product like a book.
High-ticket offers tend to attract higher-quality customers and clients. Many business owners have noticed that their higher-paying clients are usually easier to work with and generate fewer support issues than people who buy low-priced products.
Those clients are also much more likely to take action because of the investment they have made with you. That makes them likelier to get the results they seek, which means happy clients.
When you sell higher-priced services and deliver quality, you can expect referrals. Many service providers get so much business from referrals that they no longer need to advertise their services since they are fully booked.
You’re more likely to get testimonials from clients or students you have worked with personally (i.e. higher-paying clients) than from low-ticket buyers.
You’ll get known as an expert in your niche as a result of offering higher-ticket services and products. Some of that is a result of the increased testimonials and referrals, but some are just a result of having higher-ticket offers. Many people who see those offers, even if they don’t purchase them, will think of you as an expert.
Being recognized as an expert leads to being invited to guest on webinars and podcasts, to speak at events, to do media interviews, and other opportunities that will make you more famous.
If your funnel has higher-ticket offerings in it, it’s much easier to attract quality affiliates. They will seek you out rather than you having to chase them.
If you give good service and build your funnel intelligently, some of your clients will continue to work with you for long periods. It’s much easier to continue working with a happy client than to recruit a new one.
You’ll find that you’re happier with your business and your life as a result of all these things.
Models for High-Ticket Offers
The high-ticket offers you can put together are limited only by your imagination and talent. Here are five types of packages to get you started.
One-on-One: These are offers that require your time, such as one-on-one coaching, tutoring, mentoring, etc.. That time is the primary reason for the higher price since you have an absolute limit on how many hours you can give to your clients.
Assisted One-on-One: This is an offer that includes some high-value elements in addition to one-on-one time. The idea is to design them to reduce the amount of one-on-one time required, while still maintaining the value of the package.
One common element is prerecorded training. For example, if you already sell a video course, you could include that with your coaching package. That will save you from having to teach the entire course individually to each student. It will also increase the value of the package since clients will have the course to refer back to after the coaching has ended.
If you don’t already have a course, you can record training videos or create other material for your students to go through to supplement the coaching. That way the students can learn much of what they need from the prerecorded training, and your one-on-one sessions can focus on questions and advanced topics.
Hint: Notes from a coaching program are a great foundation for creating a related course if you don’t already have one. Include case studies and testimonials from your successful students, with their permission, of course.
Assisted Group: Many coaches offer group coaching as a lower-priced option in their funnel. Since they can have several students in the same session, they can charge less per student.
With some thought put into designing these packages, you can position an Assisted Group package to be as valuable as a one-on-one offer.
One key to doing this is to keep the group small. (Putting 50 people on a webinar is not group coaching!) In a small group setting, students can learn from the questions asked by other students. Being in a group also takes the pressure off a student to feel like they have to maintain half the conversation as they might feel in a one-on-one situation.
Another key, if you have enough students, is to divide them into groups by skill level, interest, or some other major factor, so that the discussion is more targeted and relevant to them. For example, if your general niche is parenting, you might find out that several students have babies and toddlers, while others have just school-age kids. It would make sense to separate the students by the age group of their kids, so you can make the discussions more suitable for everyone.
High-End Products: Although many high-ticket offers are services, let’s not forget about products. Common examples of high-ticket products are courses, seminars, workshops, boot camps, and other types of training, as well as software. These can be delivered in many different formats: physical or online products, live in-person events, live online events such as webinars, or various combinations of these.
If you’re selling high-ticket services, there are almost certainly some products you could create which would be a logical fit for your business.
Masterminds: Some of the highest-ticket offers of all are masterminds. A mastermind is a group of people who get together to discuss and work on a common interest, such as a specific type of business. For our purposes, the ideal candidates for a mastermind would be people who have taken our course on a particular subject and/or are in our coaching program.
In a properly-designed mastermind, students learn from each other as well as from the group leader. People join masterminds to get access to the other students as much as to learn from the leader. Many business deals and partnerships have started between people who met in masterminds.
There are many ways to structure a mastermind. Some of them are one-time events, like a weekend retreat. Others are ongoing; students meet online or offline regularly such as weekly or monthly. For ongoing masterminds, students typically commit to participating for a long period, such as a year, to keep consistency in a group.
Examples of High-Ticket Packages You Can Create
There are many types of high-ticket one-on-one offers you can put together. Here are some ideas to get you started.
Monthly: This is a great way to start if you’re new to high-ticket offers and for your new clients since the time commitment is short. Your monthly package could consist of a one-hour call per week with the client, possibly with some email access to you between the calls. If you both want to continue working together in the end, the client can renew for another month.
You should insist that all the calls are scheduled in advance and that the client shows up on time. The best way to schedule is to stick with the same time and day of the week for each call for a given client.
For best results, structure the calls rather than just getting on the phone and chatting. Here is a typical format for coaching:
- What action did the student take since your last call? Were all goals for the week achieved?
- What questions or problems does the student have?
- Training and discussion of what to do next.
- Set goals for the coming week.
The first and last steps should just take a few minutes, with the middle two taking up the bulk of the time.
This format is a good way to keep students on track and accountable since they will realize they have to tell you if they took action or not, and why any goals weren’t met.
Quarterly / Semiannual / Annual: These are the same as the Monthly package, except for the duration. Give people a discount for making a long time commitment and paying in advance. For an annual package, you might charge 9-10 times the monthly rate.
If you’re new to this, you might want to start with just monthly and quarterly packages until you get more experience delivering your services.
Live Events: There are many ways to structure live events, from a one-day workshop to a week-long Bootcamp. One of the most lucrative is a one-on-one, in-person meeting with the client. You can travel to them, or they can come to you. This type of meeting typically lasts a day.
Premium One-on-One: This package could include elements like more access to you, more one-on-one coaching, extra services, or other perks not included in your basic package.
Done-for-You Services: Another type of high-end services is a whole category known as done-for-you. Instead of teaching your clients how to do something, or coaching them through it, you just do it for them. Many people would rather just pay an expert to do the task for them than go to the trouble of doing it themselves.
Continuity: This is any service or product that is billed regularly. Some examples of continuity are access to a membership site or software, services like consulting, or coaching (when recurring billing is in effect). Although continuity isn’t automatically high-ticket, we mention it here because including it in your business model can help your bottom line. A continuity program adds a fairly predictable, steady income stream to your bottom line.
Designing Your Funnel
When you start planning your high-ticket services and products, think strategically. Design them so there is a logical flow from one to the next. Figure out good reasons why your clients or customers would go from one package to the next.
For example, at the low end of the funnel, it makes sense why someone would move from a $27 ebook to a $197 video course, even if both contain the same information. Videos have higher perceived value than text-based content.
It’s easier to teach some things in a video than in a book because you can show people visually how to do things. Think of the difference between a recipe in a book and a chef on TV showing how to prepare the same dish.
On the higher end of the funnel, it makes sense that someone would upgrade from a group coaching program to one-on-one coaching or from coaching to a mastermind or a done-for-you service.
Although we often use coaching as an example, please keep in mind that your high-ticket service could be something completely different. Coaching isn’t suitable for every niche, and some people prefer not to do coaching.
That’s fine. Just think about which services and products would make sense for you and your clients or customers.
Don’t forget the power of strategy sessions. They are a great way to bring people into almost any high-ticket service and to research your niche.
Finally, try to think of at least one continuity program you can add to your funnel.
If you’d like some help creating your funnel, schedule a free strategy session with us here.
Watch this video about TimeSlots to discover how easy high-ticket sales can be when you have the right information. That video will also give you some ideas of what questions to ask in your strategy sessions.
Marketing funnels can look pretty complicated when you see them fully diagrammed out. However, you don’t have to create everything at once, and you can always add or tweak things in your funnel later once you’ve had some experience with it.
Always be thinking about what is the next logical step for your clients or customers. What products or services could you add to your funnel to serve people better and increase your revenue? Also, look for gaps in your funnel where it might make sense to add an intermediate step.
GSDdaily Episode 47
We are going to talk about high-ticket offers. Yesterday we talked about selling high-ticket offers and ticket blueprints. The selling high-ticket offers and using and selling them on strategy sessions. Using sales calls to establish a bond and then ultimately move somebody through a pitch. It might be getting them, getting somebody to schedule that sales call from a website, or schedule that sales call from a webinar. But, it was a practice that you would use when you were selling something over $1000.
When it's over $1000 you need to bond, nurture and work with your prospects a little bit more earnestly than if it's a low ticket offer. That was kind of the basis of yesterday's conversation. I got a couple of emails and say, well, okay, so now I know how to sell those high-ticket offers, but how do I create high-ticket offers? Last week, I think, we went through a bunch of different scenarios on how to create digital products. But I didn't go into detail about how to create high-ticket offers. I searched the archive archives because I remember writing a report, but I just hadn't done anything with it in quite a while. That was what this high-ticket blueprint report is that you have the link for now. It's just a straight uplink to the PDF.
For those of you who were new to me, my name is Jason Drohn. I am the creator of doneforyou.com. We specialize in helping people create offers, automate sales systems, and ultimately scale their business online. Those are the three things we do. We do them very well and anything that falls within that digital kind of wheelhouse is something that we work, we specialize in.
Today we're going to talk about packaging stuff to sell for a lot of money, whether it's coaching programs, assisted learning programs, digital courses, masterminds, all of that kind of stuff. There are lots of ways to elevate what you sell into the four-figure a month kind of range, and then ultimately sell that. I'm just going to stop sharing that screen. I'm going to share a different screen, which is going to be the report here.
There are lots and lots of ways of packaging up offers to get to the point where you can start charging $1000 or more, lots of different ways. So, there are some perils of low-priced products.
Low Ticket requires a lot of Volumes
When you are selling something cheap, when you have a cheap course, a cheap report, a cheap book, a paperback, a cheap newsletter, when you have these cheap things, not cheap as in, but they're just low ticket, they're like introductory offers and they work great as introductory offers. But, you need a lot of volumes to scale them. And when you first start, it's hard to get a lot of volumes because the volume is kind of a proponent of ad spend.
If you have a sales funnel that is just absolutely crushing it, you're self-liquidating or you have an unlimited supply of ad spend, you're okay. You can get a lot of volumes. You can test to the point where you're getting lots of volumes. But, if you don't have a significant ad budget, or if you're new to this, it's difficult to start selling 30, 40, $50 things and get paid traffic where you're paying $1 a click, $1.25 a click, $2 a click, 40 cents a click, whatever.
It's really difficult to flip that money into cash flow. When you do figure out how to flip that money into cash flow, then it ends up you need two times or three times return on ad spend to start making significant money with that offer, or you just scale up.
The nice thing about the high-ticket offers is it's almost like a Hail Mary pass in football. Do you know what I mean? You might have, let's say you have 100 buyers and of those 100 buyers, there are only three of them who would spend $2500 a month to work with you on a consulting or a coaching program.
But, those three buyers end up being 7500 bucks a month. So, you had 100 people, three of them ended up qualifying for your coaching program. You sold them 7500 bucks a month. You turn that back into more traffic. And now you get three more people just like them. So, that's the idea behind some of the high-ticket stuff and you have a high-ticket offer in you without a doubt. Usually, it's a collection of things. Usually, it is like a digital course plus coaching or consulting or something like that. So, there are two real ways to sell high-ticket offers.
2 Ways to Sell High-End Ticket Offers
1. Start low and you go up.
The first strategy is by selling somebody a low-priced product first, and then upselling them through a sales funnel to the more expensive thing. You've seen this before. If you've been through a Russell Brunson funnel or a Grant Cardone funnel, or Frank Kern funnel, or any of these guys, any funnel that starts with a free plus shipping offer, you better believe that thing is going to some pretty high levels once you get to the backside of it.
Those things are engineered to generate revenue and those people are all very, very smart. There's a reason why they're giving you a book for free. You know that there's a reason why they're giving you a book for free. It's because they can, they'll have your credit card on file, so every time you hit the add to cart button or the upsell button, then it just automatically charges your credit card. That's how a to upsell funnel works.
The last offer in an upsell funnel could be as expensive is 997 or 1997. Rarely does it get that high without a webinar, but it ends up being a little bit high ticket. Or, it'll be a high-ticket offer that is then broken up into payments. That's the first way. You start low and you go up.
2. Start on top and you go down.
The second way is you start up and you go down. You start by selling the most expensive thing first on a webinar and peeling off buyers that way.
Let's say you have a 1997 product. Start with a webinar that sells that 1997 thing. And all the people who don't buy that 1997 thing, which is 97% of people, you get three buyers out of the front side, which is awesome. But then the other 97 go into like a down-sell, which then drips individual pieces of that small end or the bigger product. It drips them out as a smaller offer.
It's the other way. You start high and go low, or you start low and go high. But either way, you end up having a high-ticket offer in the mix. And it's advised that somebody has a premium package product. At some point in there, like whenever I'm talking to clients or prospects and we're talking about a report or something. Where's this going? You're not just selling a $27 report. You wrote the report to get the client. So, what are you going to sell to the client once they buy the report? Rarely is it ever just all I want to do is sell a $37 book. Rarely is it ever that. I mean that's the point of sales funnels.
What we like is to lead with the higher-ticket offers and then downsell them to low-ticket offers. Although with coronavirus and with the pandemic now, it's generally advisable to start low and go high. It's easy usually to get the first buyer. You might be getting an 8%, 9%, 10, 12% conversion on that front ticket.
The upsells we'll march them through a sales funnel and then those people, as long as you deliver and fulfill, those people, a certain number of them are going to come back and buy more stuff. Typically, that's what's working right now. High ticket going low isn't working as well, but it is working for some folks who have the brand presence to back it up. But for a lot of startups, we're working the low ticket to high-ticket model right now.
The best way to make high-ticket sales with strategy sessions. We talked about strategy sessions yesterday. So, an average call lasts 15 to 30 minutes. You establish rapport first. You ask them questions second. And then ultimately you lead them to the pitch and then the pitch is delivered.
It's either, you're either going to have a call to action, we take a credit card over the phone, or you send a proposal or you schedule the next call with a closer or whatever. There are lots of different ways there that work. The key to setting up strategy sessions, scheduling strategy sessions, software promoting strategies. Okay.
1. one-on-one coaching or consulting relationship
So, the benefits of premium pricing, this is where I wanted to go. So, there are lots of different models for high-ticket offers. And this is where I want to go with this presentation. The high-ticket offer that you're probably most familiar with is like a straight-up one-on-one coaching or consulting relationship. Somebody, you work with a client, that client is a one-on-one client. You're working with them weekly or biweekly or monthly. It is to get to some results or to hit some milestone or achievement or whatever. It's kind of the coaching consulting realm.
2. assisted one-on-one
There's also this thing called assisted one-on-one. So, assisted one-on-one offers, have the coaching and consulting component, but they also leverage some sort of a product. And that product is like a course or an e-book or training book or text manual or whatever. I am actually so excited about it. It's such a geeky thing, but the funnel factor book that we have been kind of promoting for the last couple of months is doing well.
I actually, formatted it as a textbook and I ordered it. I've ordered a proof copy of it. I'm still excited about it because it's 270 pages and it's a full 8 by 11 textbook. We're going to be getting that in here, I think, at the beginning of next month. It takes a couple of weeks to print the first proof.
So, I'm excited about that just because it's a textbook. Where the inspiration kind of struck was my wife is going through the
. They sent a 700-page textbook and it was awesome. She was so excited to receive that textbook in the mail plus the other textbooks. I was like, oh, it would be cool for our accelerators and staff to have these textbooks.
You can open them up, highlight, draw on the margins, everything else. But, that is an example of an assisted one-on-one. You leverage a body of work that you have created, a video course, a manual, or ideally both. A video course and a manual and then you provide the coaching on top of that. It lends itself as a high-ticket offer.
3. assisted group offer
Another one is an assisted group offer. So, that's basically where you have a group or you have that assisted piece. You have that course, that book, the video, whatever. And then rather than do assist one-on-one, you're doing assisted group.
Everybody goes through the course. They get on like a 2-hour Zoom call where everybody talks about that week's materials. They get questions answered about that material. Again, it's a very high-leverage activity. It doesn't pay usually as much as an assisted one-on-one. Still plays a lot better than just a straight-up course, which is nice. It gives you that interaction. You can kind of work through some problems.
I usually like to have people whenever they start doing courses. They are going to do some sort of an assisted group. They see how people are interacting with the course. What they need to add to it, what people don't like about it. It usually gives a different level of customer service. It gives a different level of like understanding of what customers and buyers want.
When you create a course, you have a pretty good idea of what somebody wants, but, you don't know. And you oftentimes don't know until people start buying it and going through it because you have a, there's a different level of commitment from somebody who pays money for something than there is from somebody who gets something for free.
It's just one of those things. If you're in the group and interacting with them as they're going through your material, then they will ask questions and you'll know, just because people will reiterate certain things, what you need to add to it moving into the future.
Now, higher-end products. A higher-end product would be like courses, seminars, workshops, boot camps, other types of training as well as software. Now, when I wrote this, obviously COVID wasn't around, all of this stuff I originally kind of had in mind all this stuff being live, but so much of it is transferred online now. Now there are, you have your courses, of course, digital courses, but then there are all kinds of seminars. There are workshops. There are boot camps. We're just putting together a three-day live Zoom workshop. There's a couple of free events leading up to a Zoom workshop for one of our clients.
The logistics are interesting, but the demand is crazy. All of that stuff has just transferred online. It's just different procedures, the different tech that that has been required to facilitate the transaction. But, the higher-end products they're still there, it's just a different modality. People are interacting with them differently. And then masterminds. Some of the highest tickets offer that I've ever seen, are masterminds.
We have a guy coming on tomorrow who's going to talk about his mastermind. Some of the highest-end offers are masterminds. They are collections of people who all pay to be associated with this group. And then in the group, they have two or three or four events. They might meet weekly or daily or whatever, but it's just a sharing of ideas between people.
Oftentimes the people have different backgrounds, they have different skill sets. They're able to look at things a little bit differently. The group, in general, grows as a whole because of how everybody looks at things. Think and Grow Rich talked about masterminds. That's how prevalent these mastermind groups are. I have seen masterminds $50,000, $75,000, $100,000 per annual membership per mastermind. It is not an uncommon thing. There are more expensive masterminds than that too.
Now, some examples of high-ticket packages that you can create. You can do monthly and monthly is a great way to kind of start doing the high-ticket thing. Furthermore, you can do monthly coaching, you do monthly assisted coaching, monthly group coaching, whatever. You figure out what you're going to sell and then you figure out that the term that you're going to sell it in. Monthly is the default. Coaching consulting typically starts monthly, which is great, but you can also do quarterly, annual semi-annual.
One of the things that are working well right now is boot camps, six-week, eight-week boot camps. Anything that has a term on it. A term as in there's a beginning date and end date is working well. Having these boot camps, having these events, these virtual events that leverage some sort of digital training, but then also have this class kind of that sits on top of it, is working well right now.
And then live events. There are lots of ways to do live events. Zoom events with breakout rooms have been working well. We've had a lot of clients who have been doing live streams like this as their live events so basically all their free stuff they do like a Zoom. Or, they do a live stream with StreamYard or whatever. Then they collect that into, then they on those free events, they do a paid event. The paid event is inside Zoom with breakout rooms.In there, they would sell the high-ticket thing or whatever. Some other things done-for-you services and continuity which is any service that is built regularly. Your coaching consulting should be continuity, any kind of assisted coaching program.
Now, let's see ... In designing your sales funnel, your sales funnel to sell these higher-end things is going to be, it's going to be, so it's a high-ticket offer, so high price, and high complexity, because if somebody is going to be spending $2000, $5000, $10,000, $50,000 with you, then they need to know that their needs are going to be met through your program. So, of course, you need to have conversations with them.
It's probably going to be two, three, four, five calls, or, a very, very extended bonding process. You're not just going to walk up to somebody cold and say, "Hey, I want to join your mastermind for $25,000." You will have been referred to that mastermind. You will know of the creator of the mastermind.
There are all of these higher-end things involve the relationship. And the goal of going low, starting low and going high, is to build a relationship as you go. You just have to think kind of strategically about what you're selling. In addition, what kind of relationship you have with people. How the interaction and the awareness and the marketing are going to go. Then design into that. That's how you would put together the sales model.
I think with that, do we have any questions? I got a call here in a little couple of minutes, so want to jump, any questions? All right. I think we're good. So, did you like that? Good stuff? Yeah. All right, cool.
For Questions and Guide
If you have any questions at all, go to doneforyou.com, hit the button. Just go right to doneforyou.com/start. I'd be happy to put together a sales funnel. Take you through our action plan mapping. We are going to put together a sales funnel. We will also help you with finding your traffic sources and stuff.
I think tomorrow, I'm not sure what we're going to talk about ... Oh, tomorrow Pax is coming on. He's going to talk about selling high-ticket stuff on Zoom and other things that are not the phone. I will talk to you soon, all right? Thanks. Bye.