One of the big questions I often get asked and see many others asking on forums and groups is if they should develop and sell a high-ticket or low-ticket program.
There are arguments for both. If you are looking to scale and generate a large profit, then a high-ticket program is going to be the best way to do this. However, it is going to take more work to design and develop a high-ticket program that delivers value for money.
It will be much easier to sell a low-ticket program. In addition, the development of a low-ticket program will also be easier. However, you will need to sell a much larger volume to generate the same level of income.
An alternative is to develop a mid-ticket program, that sits between the low and high-ticket offers.
If you are looking to scale and generate good profits, then a high-ticket program is the way to go. A low-ticket program is never going to provide enough profit to build a scalable business. A mid-ticket program is also going to require a high volume of sales and marketing effort.
But it is going to be harder to sell a high-ticket program to a cold audience. A high-ticket offer is a bigger investment and often you will need something to attract their interest and provide an opportunity for them to know, like, and trust you. This is where the experience ecosystem comes in.
A funnel approach
An experience ecosystem allows for a funnel approach to the solution design, which is used to break down the client journey.
The funnel approach takes the client from the “interest” stage, where they learn why the topic is important to them, through to the “integration” stage, where skills and knowledge are applied in the development of mastery.
In between these stages, information and implementation products or programs can be delivered. From each of these stages, various learning experiences can be developed. These can be given away for free (to generate awareness of your brand), sold for a low cost, or sold as a high-ticket offer, where most of the profits will be made.
The funnel approach to the ecosystem can be divided into informational and transformational experiences.
The informational experiences are low (or no) cost products, that are highly leveraged with people consuming them without your involvement. The transformational experiences are less leveraged and require more of your time in delivery.
By using the experience ecosystem as a sales funnel, we can attract people into a low ticket offer and then upsell them into the higher programs.
As you can see, the volume of sales is a quarter of what was required before to hit the same targeted amount. With a higher conversion rate of low to mid and mid to high tickets then the income target would further increase.
The idea is to move people from interest all the way through to integration. Engaging with them along the way, providing them with huge amounts of value and allowing for transformation to occur.