There’s two different things that you need to take into consideration when pricing your high-ticket offer. The first thing is: how advanced people are when you’re selling them your offer. If your helping someone, in any niche, and you’re helping beginners… Then usually it makes more sense to charge a little bit less. Simply because the outcome, the pain point that you solve for people that are starting out is usually not as big as the pain point or the outcome that you’re providing to people who are more advanced. Because beginners are usually less sophisticated and less far down the process than someone who’s advanced.
To get some result at an advanced stage, it requires a more specific offer
To get results for more advanced people, it requires more sophistication, a more of a specific offer. And for more advanced people the reward is usually even bigger. Or for people who’ve already tried different things in the past and haven’t gotten a result yet. So, if you’re selling something to beginners, it doesn’t matter what niche it is, usually I recommend starting with a price point of about 2.000 – 3.000 USD.
Now, if you’re selling something for more intermediate or advanced people, who already have a lot of momentum and already have good results… And they’re looking to take what’s working to a whole new level. For those people, you can already increase the price more with your program and in that case, I recommend between 5K and 10K USD for intermediate and more advanced people. So, that’s the first thing you need to think about: “What’s the level people are at?”.
The value of your high-ticket offer also depends on the level of support you give people
The other thing you need to think about is how much support you give people and for how long. The value and the price of your high-ticket offer is also going to depend on the level of support that you give people, how hand on your program is and how long it is. Let’s say you have a program for more advanced people, maybe people who’ve already been through your basic program and you have a yearlong program for this people. That program could easily be a 12K or 24K program. Because you’re going to be working with people for a whole year. So these people might be paying 1.000 USD a month or 2.000 USD per month to be part of your yearlong program.
That yearlong program is more for advanced people, who already got results from working with you and they’re looking now to get support for a whole year to improve that and implement that and getting continued support. And it’s a long period that you’re working with clients. So, that’s a very high price point, 12K, 24K, 30K for those programs. Think about for how long you will be working with people, how hands on it is…
Identify how advanced people are when you sell them your offer
What I recommend you do is, first and foremost identify if you are selling to people just starting out, in that case start with 2K-3K. And then what you want to do is you want to get on a bunch of calls with people and you want to monitor your enrollment rate. If your enrollment rate is pretty high and you’re enrolling a lot of people at that price point, you want to increase that price point.
Let’s say you start at 2.000 USD and your offer sells like crazy, well then after a couple clients you can just start selling it at 3.000 USD and you can see how that goes. Maybe your enrollment rate drops a little bit or maybe not. And then after a couple of clients at 3K you can increase your price to 4K or 5K and you can see how that works. And maybe your enrollment rate drops a little bit, but you’re making more money. You’re enrolling less clients but overall the outcome is still bigger. You’re making more money for less time.
You need to understand the broad categories of pricing
You can continuously increase until you find that sweet spot. So, you need to understand the broad categories of pricing: beginner, intermediate, advanced, little support, lots of support, length of your program, how hands on it is… Those are the broad categories that define the overall pricing strategy. And then within that pricing strategy, once you’ve defined the ballpark figure for your pricing, then you fine-tune the pricing and you slowly increase until you find your sweet spot. Then you stick to that sweet spot and you found the perfect pricing for your high-ticket offer.
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