High Ticket Sales in the UK

Although I believe your sales process should follow relatively similar steps at a high level in terms of structure, for high ticket sales is usually about being more consultative in the process and understanding the client a whole – not just with the intent to sell. Although I believe this is important to do in any sales process. You may have more touchpoints in communication (meetings, calls, follow-ups) as your sales process and length of time to close a deal may be slightly longer. There may also be more time dedicated in the negotiation and contract stages. Qualification and trial closing throughout the process is key so you are not wasting your time.

Be patient and persistent (in line with how the prospective client wants to be communicated with), ensuring you are building a trusted relationship with them.

Review back to sales process and what happened, and assess what you could’ve done differently if anything, learn from it, implement new ideas and move on to the next.

Yes when I closed a high ticket sale within the healthcare industry – taught be me to not give up, be patient with the process and the prospective client, and enjoy it as well.

High ticket sales and general sales require different approaches due to the significant differences in the nature of the products or services being sold, the target audience, the sales cycle, and the level of trust and commitment required from the buyer. So, let’s look at these and some other aspects in a little more detail.

1. The Target Audience:

Typically, high ticket sales involve selling expensive or complex products or services. The target audience is often composed of several decision-makers, executives, or individuals, most with significant purchasing power.

In general sales there’s usually a broader audience with varying purchasing powers and decision-making authority.

2. The Sales Cycle:

The sales cycle for high ticket items is usually much longer than in general sales and involves building a deeper relationship with the buyer. It may take numerous interactions with multiple stakeholders and requires a more consultative approach to close the sale.

3. Trust and Credibility:

Establishing trust and credibility is paramount in high ticket sales. Buyers need to have total confidence in the product or service’s quality and the seller’s expertise and experience.

In general sales, whilst trust is important, it may not require the same level of in-depth trust-building as in high ticket sales.

4. Customization:

High ticket products or services often require customization to meet the unique needs of the buyer and wherever possible, these requirements must be met.

General sales usually involve selling standardised products or services with little or no customization.

5. Value Proposition:

The value proposition for high ticket items will usually emphasise the long-term benefits of the product or service, the return on investment, and the solution’s ability to address the prospect’s specific pain points or challenges.

In general sales, the value proposition will usually focus more on immediate benefits, affordability, and convenience.

6. Objection Handling:

Expect more objections, questions, concerns and stalls from high ticket buyers, which requires the salesperson to have a deep understanding of the product or service and the ability to address complex concerns.

Objections in general sales tend to be more straightforward and may involve common objections that can be handled with almost standard responses.

7. Closing Techniques:

In high ticket sales, prospects do not want or like to be sold to. Our approach should therefore be to take a consultative approach and do everything we can to make the prospect almost desperate to buy our opportunities and solution.

8. Follow-up and After-Sales Service:

After the sale, high ticket customers usually expect, deserve and appreciate ongoing support and a strong commitment to ensuring their satisfaction. So, after sales service should be as meticulously planned as the sales process itself.

After-sales service in general sales may be less intensive, depending on the product or service.

Niche, Niche, Niche.

Find yourself a niche market that you have a sincere and deep interest in. Develop a deep understanding of the specific needs, preferences, and pain points of your target audience and become the ‘go to’ specialist in that niche.

By operating in a niche market, you’ll have fewer competitors, and probably operate on much higher margins.

When you consistently deliver high-quality products or services that cater to a niche audience, you can build a dedicated and loyal customer base who are more likely to return for repeat purchases and refer others to your business.

Selling can be one of the highest paid professions. Have you ever worded why?

The answer is simple. Any fool can handle a ‘YES’. We get paid to handle the ‘NOs’.

In other words, we get paid to handle rejection. Very few other highly paid professionals such as doctors, lawyers or accountants have their advice rejected, but we salespeople often do. We have to get over it fast and move on. And of course, the better we get at selling, the more we get paid for every ‘NO’.

I certainly do. About thirty-five years ago I worked for a few years as a real estate agent in New York City.

I usually sold properties up to a couple of million dollars. The much higher priced properties were handled by the more experienced salespeople. But a luxury penthouse apartment property came on to our books and all the pro-sellers were on vacation. So, I was given the opportunity to sell it.

It was an opportunity with a potential kick in the tail. My boss made it very clear that if I did not sell it, and sell it fast, I’d be looking for a new job.  The upside was that at 11 million dollars, there was going to be a huge commission in it for me. Those were two very good reasons to make a sale.

The first time I stepped into the apartment, I was totally blown away. It was a masterpiece of modern architecture with floor to ceiling windows and the most amazing views over the city and Central park.

The interiors were opulent, more so than I had ever seen before. But an 11-million-dollar price tag still seemed like a lot of money to me.

I decided I had to make selling this a lot more than just a transaction. I had to create an experience and tell potential buyers a story that would resonate with them on a deep, emotional level, and I had never done this before.

First thing I did was to familiarise myself with every single aspect of the interiors. I really did my homework. I wanted to be able to describe everything in great detail and have information available on every item that most people would not want or need to know, until I described it in a way they would never forget and would want to repeat to their guests.

That level of detail extended right down to the make and cost of the kitchen taps, where the wood for the wardrobes came from and what country was the origin of the wool in the carpet.

Then I immersed myself in the neighbourhood’s history, culture and lifestyle. I attended local events that the wealthiest citizens went to, eat in some of the finest restaurants and totally maxed out my credit card, and I could describe the lifestyle of the rich and famous in exciting detail.

I was able to paint a picture of the life a buyer could experience living in this penthouse apartment and joining the community. I could sell a dream and a lifestyle – not just an apartment.

It was sold to the third person who came to view it and experience my showing.

So, the moral to the story?

Stories Sell!