You have a great idea for an online program, now for the hard part…
Is $497 a good price tag? How about $997? What about $47 or even $1997? Trust us when we say this, we understand how hard this part of the process is.
From our experiences, it can be easy to undervalue yourself. Settling for a lower price tag may seem easier to sell more people on, but it’s not as effective as you may think.
Most low ticket programs range from $47 to $497. At that rate, you’ll have to enroll a decent amount of students to start seeing healthy profits, and you’ll have to work extra hard to generate enough revenue from student enrollments to outpace your ad spend.
Sure, you may enroll 20 students in a week at $297 totaling around $6,000, but how dedicated will they be to your program? With such a minimal investment, chances are they won’t give your program everything they have and will thus be dissatisfied with the result.
Now, flip to high ticket. High ticket programs range from $3,000 to $10,000, with $5,000 being a sweet spot. With all of that effort you spent enrolling 20 students at $297, you can generate a similar amount of revenue with just one enrolled student.
Sure, getting that one student will be more difficult, but here’s what will happen:
- They’ll develop a deep sense of trust and connection with you based on your phone call to sell them on the program,
- They will go ALL IN on your program because they have a good amount of money invested,
- They’ll STILL see a positive ROI with your program, because the results you’ll be able to deliver to them will far exceed the price of admission,
- You will be able to put a lot more focus and attention into them and their progress,
- And they will be a TREMENDOUS testimonial once they come out on the other side!
- Not to mention, you need a few closes at a time to outpace your marketing budget and generate profits. Once you start enrolling students by the handful, you’ll REALLY be rolling.
As the expert you are, never undervalue your services. There are people out there that really need what you have to teach them, and someone that isn’t willing to invest a decent chunk of change into your program probably isn’t cut out for it in the first place.
As we’ve seen time and time again, the high ticket approach really does work. Have confidence in yourself and your offer, and you’ll be thanking yourself later.
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