What does it mean to be in one of the high ticket niches? And for that matter, what makes a niche high ticket? When online coaches are looking to make the income leap from $25k to $50k, then from $50k to $100k, and then $100k and beyond-- the questions that often come to mind are: how can I do this with my existing audience or is this niche really that profitable? We’re going to answer these questions in this post.
We like to teach our clients that high ticket is defined as a program that you’re selling from anywhere from $3,000 to $65,000 and obviously higher. So, within your market or niche, high ticket may be slightly lower or higher. In both situations, however, it is important that you are basing your pricing based on your market and what is typical of your current market.
But what are some examples of high ticket niches for online coaches?
Honestly, it comes down to your marketing and what a high ticket package looks like for your audience. And that all comes down to really and truly understanding who your ideal client is. It goes beyond understanding your audience’s demographics and goes deeper into understanding their psychographics in the psychology of sales.
Now, once you have this crystal clear picture of who your ideal client is? You want to make sure that you’re consistently speaking to them in your inbound marketing activities. That also means understanding how much of an investment they’ll need to make in order to feel like they’re going to have a powerful transformation.
If your audience is not convinced that they have enough skin in the game? They will not invest.
And it doesn’t matter what niche you’re in or how much you charge.
Now, before we go any further, I want to address one of the bigger elephants in the online coaching space.
There’s this myth that if you’re in the business to business niche? You’re going to make more money.
But, I want to tell you that this is absolutely not true. In fact? When you’re in the business to business niche, you’re actually in an even more competitive niche where you’ll be spending more on ads. So, don’t fall into the trap of thinking that the only way you can sell high ticket is if you’re in the business of making money AKA business to business.
Does that mean that it’s possible to be in a high ticket service niche? Absolutely! When you are looking at your ideal client and what their biggest pain points are? You can make any niche a high ticket niche. And yes, that includes high ticket service niches.
What this also means is that you really need to know how to show the value of what you do, even if there’s no monetary return. And, again, this is accomplished through the neuroscience of your words AKA your copywriting and marketing.
You also need to make sure that you are consistently meeting your ideal clients where they are and speaking to them in the appropriate part of your customer success journey.
For example, you wouldn’t use the same marketing with a newly added lead that you would use with someone who’s one of your most active Facebook community members, right? So remember that when you are crafting your attraction marketing and your messaging.
Now, what does this coaching funnel model look like for high ticket niches?
It all begins with relationship building and a high touch sales process. It also means buckling down and focusing on the principle of one.
One social media platform, one offer, one message, one ideal client.
You want to focus on taking that one offer to $100,000 with one consistent message that speaks to one ideal client on one social media platform.
Seems simple enough, right?
The reason that we recommend this is because we see clients making the mistake of trying to automate too soon. Or, they’re trying too much inbound marketing and not enough outbound marketing.
I’ll tell you from experience that trying to automate too soon is a recipe for disaster in your business. You won’t know what’s breaking and where which means that you won’t know what to fix. And sometimes it comes down to those tiny tweaks that you would be able to see clearly if you weren’t trying to overcomplicate your funnel.
In fact, if you’re trying to do too much at once and without understanding each person’s buying process? You might end up losing sales because you don’t understand where their mindset is or where you may need to level-up your marketing. And it means simple things like understanding what an inbound conversion rate is so that you can make the necessary adjustments.
Now, I know that this looks boring or sounds super un-sexy but, here’s the thing: it works. When you simplify and focus on that principle of one? You’ll find what works for you and your ideal clients. And if it’s not working? It’s so much easier to figure out what needs to be adjusted.
In summary we talked about: the best high ticket niches, high ticket service niches, and a coaching funnel model for high ticket niches.
Are you ready to focus on the principle of one so that you can create consistent recurring revenue within your very own high-ticket niche? Apply for a consultation here.