High ticket, Low ticket, Free Challenge or? What Shall I Offer as a Coach?
The video below gives an introduction and I have actually listed all the pros and cons of each of the 3 ways beneath the video!
LOW END OFFERS OUT OF THE GATE
This is a great way to cast your net wide and draw in large numbers of your ideal client to then filter down to the fewer higher ticket clients.
- Your 1:1 calls are minimised and your lower end offers do the heavy lifting for you; people more naturally upgrade into your higher end programs as they grow trust with you. The trust is all down to the amazing content that you give at your lower end offers where you have also over delivered.
- You can help MORE people as your lower end offers also offer transformations in their life.
- You do not have to be such a good CLOSER on the phone as you do with higher ticket offers.
- You have way more clients and the word can spread way quicker to get testimonials too from this larger pool of people – success breeds success!
When you run ads, you will, very unlikely make any money on your lower end offers as the ad costs themselves can exceed the costs of the offer. If you get a 2% to 6% conversion on your sales page, you are doing well.
It is highly advisable to offer an Order Bump so when people check out on your sales page, they tick an Order Bump which could be an extra masterclass, a report, swipe file, a bit of software (anything relevant to your niche) – this is designed to Self Liquidate your ad costs – this funnel is called an SLO – Self Liquidating Offer.
Then after a certain percentage have taken your Low Ticket offer and a lower percentage taken you up on your Order Bump, you can then offer a One Time Offer (OTO) on the next page in the funnel.
Essentially a more complicated funnel!
HIGH END OFFERS OUT OF THE GATE
You need way fewer clients to make more money.
Probably the fastest way to make the most money as your High Ticket offers generate excellent profit margin.
Easy funnel to build – Landing Page – Case Study – Survey & Application and Thankyou page
You need to be extremely clear on your clients journey with you from start to finish and very clear on your program details to ooze that confidence on the phone/zoom calls to close those sales!
You have to be a Good Closer and aim for converting 1 on 5 on the phone
You have to spend quite a bit of time on the phone on strategy calls and closing clients so you need to be comfortable and confident with that. In the process, you must not lose sight of serving your existing clients.
You will not get as many testimonials so quickly purely down to the mainly reduced numbers you take on.
You need to be extremely confident in you and your program and your ability to offer that transformation.
FREE OR PAID CHALLENGE
Some coaches start off with a Free Challenge or a Challenge with a. small fee (and perhaps refundable). Many more experienced coaches still use Challenges but maybe paid or refundable. This does several things:
Builds up testimonials super quickly so that you then have the credibility behind you to start charging
Draws people into your funnel so you can upsell at the end.
Can suit beginner coaches as this enables them to build the confidence in what they coach and the results they can get for people before seriously charging!
Can enable you to get to know your niche much better and know the ways in which you can fine tune your offers.
- You can attract a lot of time wasters if you offer the Challenge completely free so I suggest either a small fee or a refundable fee after running an initial free one to get reviews. Once you charge a small fee, many are not interested in getting their small fee back anyhow as they are blown away with your content
- You need to have a very clear offering that your people on your challenge know they are going to be presented with at the end. Your very clear next offering on your ascension ladder needs to be threaded throughout the Challenge and needs to be congruent with the content on the Challenge
- You need to keep people engaged though out the Challenge as the numbers can drop off as the Challenge proceeds. You need to be strict and set rules and Agendas and make homework for your participants and check people have done their homework along the way. Setting up a pop up Facebook group can be great for free Challenges where people can interact and ask questions and get the links to your calls.