Low-Ticket to High-Ticket Sales Funnels with Tom Morkes
Nov 26, 2024
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Tom Morkes, a West Point graduate and Iraq War veteran, discusses his expertise in sales funnels and growth marketing. He emphasizes that success should not define your worth and challenges the view that low-ticket offers can't attract high-ticket clients. Tom highlights the importance of building trust through valuable content and maintaining customer engagement. He also shares strategies for optimizing sales funnels and stresses the need for consistent communication post-purchase to elevate customers from low-ticket to high-ticket offerings.
Success should not be defined by traditional metrics as it can trap individuals into a narrow perception of their value.
Understanding your business model is essential for setting effective pricing strategies that effectively transition customers from low-ticket to high-ticket offers.
Deep dives
The Myth of Low-Ticket Sales
There is a common misconception that low-ticket sales cannot lead to high-ticket clients, but this perspective is flawed. Both low-ticket and high-ticket offers can coexist and complement one another in a sales funnel. By successfully marketing low-ticket items, businesses can build a customer base that is then primed for higher-ticket offerings. The experience shared highlights that generating significant sales in high-ticket items can indeed stem from a foundation of low-ticket sales.
Strategies for Pricing Optimization
Pricing is a significant challenge for many entrepreneurs, particularly when trying to balance low-ticket and high-ticket offerings. It is crucial to understand the specific business model and the potential customer journey when setting prices. Low-ticket products can enhance a brand's image and lead to future high-ticket sales without undermining their perceived value. By addressing customers at various stages of their buying journey, entrepreneurs can effectively bridge the gap between low and high ticket offerings.
Creating Effective Low-Ticket Products
To develop low-ticket products that resonate, it's essential to focus on providing clarity and understanding to potential customers. These products should serve the purpose of helping users identify their problems and offering initial solutions. By engaging with an audience just beginning to understand their needs, businesses can cultivate trust and drive future sales. This approach ensures that even lower-priced offerings contribute to the larger marketing strategy and customer journey.
Automated Sales Sequences for High-Ticket Sales
Establishing an automated email follow-up sequence after a low-ticket sale is a critical step in converting customers to high-ticket offers. This sequence reinforces the value of the initial purchase and keeps the brand top-of-mind. By maintaining engagement through valuable content, businesses can gradually introduce higher-value offerings that align with the customer's evolving needs. The process may culminate in a conversion event, such as a webinar, leading customers towards making significant investments.
Tom Morkes is a West Point grad, Iraq War veteran, and founder of Insurgent Publishing. He specializes in growth marketing, publishing, and sales funnels, helping brands and businesses grow their reach, impact, and sales.
Top 3 Value Bombs
1. Success is a trap and a snare for many people. Its what you become at the end when the dust settles but it is not a measuring stick and should not be use to determine your value.
2. The pricing depends on the over aching strategy or business model. Understand first your business model and what you want to.
3. The mistake both on doing high ticket and low ticket offer is when they abandon or ghost the customer after their low ticket sale and also not producing enough content in between the low ticket and the high ticket offers.
Go to Tom’s website and sign up for his newsletter and get a free book “ Launch Hacks” - Tom Morkes Website
Sponsors
HubSpot Making your life easier. Getting you results faster. And better connecting you to all your data, all in one place. Start making major moves with HubSpot. Visit HubSpot.com/marketers to learn more
ThriveTime Show Attend the world’s highest rated and most reviewed business growth workshop taught personally by Clay Clark and football great Tim Tebow at ThriveTimeShow.com/eofire
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