In this blog, we’ll go through the four main components of a high-ticket offer in great detail, where we will answer how you can design a high-ticket offer for your business that will help you grow it, increase your income, revenue, and impact, and allow you to establish a business that will provide you with freedom, purpose, and fulfillment?
What is a high ticket offer?
It’s a service, program, course, or coaching that costs $1,000 or more. Thus it’s a high-value service that solves a painful problem.
At Ummahpreneur we specialize in helping Muslims launch high-ticket offers that might take on a number of different shapes, such as coaching programs, online courses, services, consultancy, and even agencies. But they all have one thing in common—they all have to be services that cost $1,000 or more per serving.
Assume you offer a mindset coaching program for entrepreneurs to help them overcome limiting beliefs for a fee of $1,000 or more.
Suppose you want to build an online course for cyber security professionals on how to master a specific coding language and charge a thousand dollars or more for it. In that case, you’re making a high-ticket offer.
If you charge a thousand dollars or more for marketing services for local businesses through your agency, then you have a high ticket offer.
So, you want to establish a business and an internet business that can earn six, seven, and eight figures in the shortest amount of time possible. In that case, I recommend focusing on high-ticket offerings.
I’ve established three businesses over the past eight years, focusing on creating high-ticket offers in each one of them. By doing this, I’ve consistently made six figures in each of my businesses, which has allowed me to be an entrepreneur for the past eight years without having to work a job.
Let’s get deep into the four fundamental components of high-ticket offers and see how to create one.
The Four Core Elements Of A High Ticket Offer
Your offer is the foundation of your business. Thus your entire online operation is based on it.
Consider your company like a structure. The offer is the foundation, correct? It serves as the base upon which everything else is constructed.
The offer will dictate…
- if your marketing is successful
- If you’re generating sales in your business
- if you’re succeeding in attracting the right audience on social media
- how much revenue do you end up generating in your business
- the direction of your business will dictate its Mission.
Only here will work if we get the offer correct. Our marketing, sales, and social media will not take off, and we will ultimately fail to earn the money we desire in our business.
The Billion-Dollar Online Industry
First, let us define what you mean by “offer.”
The offer represents your business idea or concept. So, if you want to establish a business, you’ll need a product to sell.
I’m more interested in what I just described when discussing offers. Coaching, training, and consulting What kind of offer will you need to enter into the billion-dollar online education industry?
So, to answer that, we’ll go over the four main components of a high ticket offer in depth.
#1. A Painful Problem
The first thing we’re going to need is a painful problem.
We need a painful problem because I want you to think about the last time you needed to take a vitamin in your life. Maybe your doctor told you that you need to take more vitamin D since you know you’re deficient, and you said, “OK, doc, I’ll do that.” You bought the vitamins and possibly took them on the first, second, and third days. You ultimately stop taking the supplements, though. We stopped taking the vitamins, whether it was a week or a month later.
Now, we quit taking those vitamins because we don’t realize they’re healthy for us; they’re not relieving any genuine pain in our life right now.
Now, think about the last time you used pain medication. Maybe you had a horrible headache, or maybe you broke your arm or leg, or maybe you had some lower back pain that made it impossible to go about your day, and you took the pain reliever because you needed rapid relief.
When you’re going through that experience and in agony, you want that painkiller, right? You want the pain to stop, but if I tell you to take a vitamin, which is nice to have right, you have no real incentive to do so until you really mindfully force yourself to remember and stay consistent.
The key in first core element when creating High ticket offers is that we need a painful problem our customers are going through. When we offer them our solution, we want to ensure that we solve a painful problem. That is core element number one, a painful problem, and we need to know…
#2 Who Is The Customer
A painful problem and who the customer are tied together because when you look at the customer you want to target, some customers might have a painful problem while others don’t.
In my experience, entrepreneurs frequently confront challenges, and if they don’t believe in themselves, they may feel inadequate in business. They may be aware of their feelings, and their inner voice may prevent them from reaching their full potential. They have all of these restricting and harmful beliefs.
So the unpleasant condition that they’re dealing with could be a lack of confidence, limiting beliefs, or bad self-talk. These are the issues that our typical entrepreneur customer experiences.
However, even if we change the customer entirely, for example, from entrepreneurs to mothers, the scenario remains the same: we want to be a mindset coach.
So, if the customer is a Mother, we must examine the unpleasant situation they are experiencing, which could be something entirely different. Perhaps the issue is that they are overworked, stressed out, unfulfilled, or feel they have lost themselves, or they face different obstacles than entrepreneurs.
Now, if we come to mothers and say that the problem we solve is helping them overcome their limiting beliefs, they may not only not care but may need to realize that this is an issue for them since they are not trying to create a business.
As a result, the problem we fix is directly related to the consumer.
This is why it’s critical to be explicit about who the client is since this allows us to determine the unpleasant problem I want to remedy.
#3 What Is The Solution That I Want To Provide
Let’s take weight loss as an example. If I do weight loss coaching and work specifically with busy dads, one of their painful problems is that they want to lose weight but don’t have the time.
Now, the solution must be more specific because not only do they want to lose weight but lack the time, but they also believe they are unattractive or are losing confidence.
The approach I’ll propose focuses on topics like we know they can’t be in the gym for hours on end. So, what are some things that we can assist them in implementing that are relatively basic and don’t take a lot of effort but will make a big difference in losing weight? Calories in should be less than calories out.
We can assist them in shifting their diet and developing some form of meal plan with some minor exercise and movement to help them lose weight consistently. So, the solution will also be that all of the stuff is now linked together.
#4 How To Separate Between The Solution And The Outcome
People need help to distinguish between the solution and the outcome. Let me give you an example: I wanted to start a marketing agency or a Facebook ads agency, and I wanted to work with dentists to help them get more clients in the door.
The problem that my customer is facing is that they don’t have enough clients, which makes it difficult for them to expand their business, hire the necessary staff, take vacations, and earn enough to support their families (because they run their practice and must pay rent and other expenses), or even achieve some of their desired goals.
The solution is straightforward: what am I doing well? I’m going to run highly targeted Facebook advertisements offering special discounts to new consumers in order to attract new clients to their dental office.
A lot of people need clarification on the outcome of the solution. A lot of people think my customer is buying from me because they want the solution, but actually, that’s not true.
The reason why your customer buys from you is that they want the outcome. They actually don’t care about the solution, and this is really important to know.
Biggest Mistakes Entrepreneurs Are Making
Many marketers make the mistake of reaching out to local business owners, such as dentists, chiropractors, gyms, real estate agents, and others, and saying, “Hey, are you looking to run Facebook ads for your business?” This is where they go wrong because these business owners don’t care about Facebook ads; they just want more clients.
So the question you should be asking is,
- Do you have room for more clients in your practice?”
- Do you have room for us to send more clients to your business?
So, if you can focus on the outcome now rather than the solution, here is where you win in marketing, business, and sales, and this is for the four essential aspects of a high-price offer, which is why people are here.
If you could be specific with each of these, If you can address a very painful problem for a specific consumer and provide them with a very specific solution and outcome, the more specific you can be about these four elements, the higher you can charge.
People are eager to pay for a pleasing result. Addressing a painful condition is fine, but if you can maximize the attractiveness of the solution and zero in on a very specific painful problem, that’s where you can truly start charging the big bucks straight to the premium ticket pricing that you’ve always wanted to charge in your firm.