In my ongoing education in marketing online, one lesson I’ve really taken aboard is the importance of the distinction between high-ticket and low-ticket products or services.
The terms probably speak for themselves, but for the sake of those not familiar with the marketing jargon, an example or two might help.
In the product area, according to a Google search I’ve just done a bottle of Yellowtail bubbly from one of our local liquor stores will cost you $10 – definitely low-ticket.
At the high-ticket end, a 1982 Chateau Lafite Rothschild will set you back around $9,126.
For services, a one-off coaching session, priced at anywhere from say $175 to $500, is low-ticket.
A 12 month, one-on-one coaching package will be priced in the thousands, and for a quality program will almost certainly be at least a five figure investment: high-ticket.
HOW WILL CONSIDERING THAT SAVE YOU PAIN?
Because marketing low-ticket is a tougher call, in terms of value for your effort, than marketing high-ticket.
For one thing, you have to sell a lot more low-ticket than high-ticket items to reach your income goals.
And it’s getting harder to market low-ticket.
The online marketing experts are telling us that it is getting much harder to achieve a reasonable return on low-ticket items.
In fact, one said that as we move into this new decade, it will become nearly impossible to sell low-ticket, because of the cost of marketing, unless perhaps you have special advantages, such as a huge audience.
So what’s a ballpark figure for “high-ticket”?
It will depend on the product or service, but generally not less than $3,000 and more likely, from what I read and hear, not less than $5,000.
And if you are considering affiliate marketing, I’d say you should ensure your commission per sale is not less than $1,000,
Think about that the next time someone tells you they have a great opportunity for you.
Ask, are the products high-ticket (“tell me more”) or low-ticket (“Next!”).
Then ask what your commission per sale will be.
ALWAYS SOMETHING NEW TO LEARN
Until this morning, I thought I had all that pretty well worked out.
Then I sat in on an online Q&A with the CEO of our Affiliate Institute business, that provides a platform and community for comprehensive, continually updated information, education and training in online marketing.
With just a few distinctions, the CEO took to a whole new level my understanding about the crucial business importance of the distinction between high-ticket and low-ticket.
I am so loving the education, training, and mentoring about online business from the Affiliate Instiute platform and team.
I’ve been around the online business world for a long time now and can say, hand on heart, this is definitely next level.
Suzie Cheel and I have set up our Facebook #FreeedomGang group, for people who want to know more about online business, especially affiliate marketing, raise questions, have discussions in a safe, spam-free space.
Does that interest you? Come and check us out at this link (note: there are a few simple questions for joining, to help us to get to know you) https://www.facebook.com/groups/345101279198063/
#affiliatemarketing #onlinebusiness #high-ticket