In the video “Unlocking Revenue Potential with High Ticket Sales Funnels” by Jason Wardrop, he discusses three different types of funnel formulas that can be used with Facebook Ads. The first formula is for a low ticket offer, the second formula is for a mid ticket offer, and the third formula is for a high ticket offer. Wardrop explains the potential profits and losses for each funnel formula, highlighting the advantages of the high ticket funnel for businesses selling expensive products or services. He provides a sample structure for the high ticket funnel, including a Facebook ad, opt-in page, sales video, and phone call scheduling. Wardrop also emphasizes the importance of an application process and sending text message and email reminders to ensure attendance. Overall, the video offers valuable insights into maximizing revenue potential with high ticket sales funnels through Facebook Ads, making it a useful resource for businesses looking to enhance their sales strategies in 2023. Whether you have questions or found the information valuable, don’t hesitate to leave a comment or give the video a thumbs up.
Introduction
Welcome to the world of high ticket sales funnels! In this comprehensive article, we will explore the ins and outs of high ticket sales funnels, including what they are, their advantages, the target market, and the high ticket funnel formula. We will also delve into the step-by-step process of choosing the phone call schedule, implementing an application process, and sending reminders. Along the way, we will highlight the benefits of high ticket sales funnels, such as their repeatable and scalable sales process, higher profit margins, and reduced risk versus reward. So, buckle up and get ready to take your sales game to the next level with high ticket sales funnels!
Overview of High Ticket Sales Funnels
What are High Ticket Sales Funnels?
High ticket sales funnels are strategic and systematic processes designed to convert leads into high-paying customers. Unlike traditional sales funnels, which focus on lower-priced products or services, high ticket sales funnels specifically target customers who are willing to invest a significant amount of money in a particular product or service. These funnels are structured to capture and nurture leads, build trust, and ultimately close high ticket sales.
Advantages of High Ticket Sales Funnels
High ticket sales funnels offer several advantages compared to traditional sales funnels. Firstly, they provide businesses with the opportunity to generate higher profit margins. Since high ticket products or services have a higher price point, even a few sales can significantly impact a company’s revenue. Additionally, high ticket sales funnels focus on quality over quantity. By targeting customers who are serious about investing in a specific product or service, businesses can build a loyal customer base and potentially secure long-term partnerships.
Target Market for High Ticket Sales Funnels
Not every customer is the right fit for a high ticket sales funnel. The target market for these funnels consists of individuals or businesses who have the means and willingness to invest a significant amount of money in a particular product or service. These customers typically prioritize quality, value, and personalization. High ticket sales funnels are particularly suitable for businesses offering high-end products or services, such as luxury items, advanced technology, or premium consulting services.
Understanding the High Ticket Funnel Formula
Definition of High Ticket Offer
A high ticket offer refers to a product or service with a substantial price tag, typically starting at $5,000 or more. These offers usually require a more personalized approach, such as a phone call or one-on-one consultation, to address potential customers’ questions, concerns, and specific needs. The high ticket offer is the centerpiece of the high ticket funnel and is designed to provide significant value and justify the higher price point.
Conversion Rates and Average Cart Value
When planning a high ticket sales funnel, it is essential to consider conversion rates and average cart value. Conversion rate refers to the percentage of leads who ultimately make a purchase. While lower compared to traditional sales funnels, high ticket funnels can still achieve satisfactory conversion rates of 1-2%. The average cart value, on the other hand, represents the total value of each successful sale. High ticket funnels typically aim for a higher average cart value, which contributes to the business’s overall profitability.
Sample Structure of a High Ticket Funnel
A high ticket funnel follows a specific structure to maximize conversions and sales. It typically starts with a captivating Facebook ad that targets the ideal customer profile. After capturing the lead’s attention, they are directed to an opt-in page, where they provide their contact information in exchange for valuable content or a special offer. Once the lead has completed the opt-in process, they are presented with a sales video or webinar that highlights the benefits and value of the high ticket offer. Finally, the lead is guided through an application process, allowing the business to assess their fit and move forward with a personalized consultation or phone call.
Step 1: Choosing the Phone Call Schedule
The first step in implementing a high ticket sales funnel is choosing the best date and time for a phone call with potential customers. It is crucial to consider factors such as the target market’s availability, time zones, and scheduling preferences. By offering a variety of options and being flexible, businesses can increase the likelihood of securing a phone call and effectively guiding the lead through the sales process.
Step 2: Implementing an Application Process
To ensure that only qualified leads proceed to the next stage of the high ticket funnel, it is essential to implement an application process. This process allows businesses to gather additional information about the lead’s needs, goals, and budget, while also determining their level of commitment. The application process can take the form of an online form, questionnaire, or even a brief phone call. By implementing an application process, businesses can streamline and personalize the sales process, increasing the chances of converting leads into customers.
Step 3: Sending Text and Email Reminders
To maximize attendance for scheduled phone calls or consultations, it is crucial to send text and email reminders to leads. Consistent and timely reminders ensure that the potential customers are prepared, engaged, and aware of the upcoming interaction. These reminders also serve as opportunities to re-emphasize the value and benefits of the high ticket offer, reinforcing the customer’s decision to invest their time and money.
Benefits of High Ticket Sales Funnels
Repeatable and Scalable Sales Process
One of the significant benefits of high ticket sales funnels is their repeatable and scalable nature. Once the funnel is set up and optimized, businesses can attract, nurture, and convert leads consistently, allowing for a steady stream of high ticket sales. This repeatable process eliminates the guesswork and allows for better forecasting and resource allocation. Additionally, high ticket sales funnels can be scaled to accommodate increased demand, ensuring that the business can handle a growing customer base effectively.
Higher Profit Margins
Compared to lower-priced products or services, high ticket offers provide businesses with higher profit margins. Even with a relatively low conversion rate, a few high ticket sales can generate significant revenue, contributing to the overall profitability of the business. High ticket sales funnels allow businesses to focus on quality over quantity, attracting customers who understand and appreciate the value of the product or service offered. This focus on value, combined with the higher price point, leads to improved profit margins.
Reduced Risk versus Reward
While high ticket sales funnels may not be as easily scalable as traditional sales funnels, they offer reduced risk versus reward. By targeting customers who are willing to invest a substantial amount of money, businesses minimize the risk of attracting customers who are price-sensitive or less committed. This focus on quality leads to higher customer satisfaction, increased customer loyalty, and potentially long-term partnerships. Moreover, high ticket sales funnels allow businesses to justify the investment in marketing and advertising efforts, as even a few successful sales can yield substantial profits.
Conclusion
High ticket sales funnels provide businesses with a unique opportunity to target customers who are willing to invest a significant amount of money in specific products or services. By understanding the high ticket funnel formula and implementing the steps outlined in this article, businesses can attract and convert high-quality leads, increase sales, and ultimately boost revenue and profitability. The benefits of high ticket sales funnels, such as their repeatable and scalable sales process, higher profit margins, and reduced risk versus reward, make them a valuable tool for businesses selling expensive products or services. So, take the leap into the world of high ticket sales funnels and unlock the potential for greater success and profitability in your business.