The perceived value of a product or service in high-ticket sales depends on the customer's perception of its worth and return on investment.
Building conviction and believability in delivering promised results is crucial in gaining the customer's trust, and can be achieved through showcasing success stories, expertise, and addressing doubts or concerns.
Deep dives
Understanding the Value of a Product or Service
One of the main questions in sales is whether the program, product, or service is worth its price. This question depends on the perceived value the customer assigns to it. In the context of high-ticket sales, such as $10,000 to $15,000 12-week online personal training packages, the focus is on the bottom line and return on investment (ROI). For emotional selling, like weight loss services, creating value involves painting an ideal picture for the customer. By understanding their desires, enhancing their vision, and demonstrating the long-term benefits, such as permanent weight loss or regaining a high school figure, the value of the product or service is emphasized.
Building Conviction and Believability
The second main question in sales is about the seller's conviction and believability in delivering on the promised results. This is crucial to gain the customer's trust and confidence. Conviction and believability can be established by highlighting success stories and testimonials, showcasing the seller's expertise and track record, and addressing any doubts or concerns the customer may have. By presenting a compelling narrative and emphasizing the positive impact that achieving the desired results will have on the customer's life, the seller can build the necessary conviction and boost the customer's confidence in making a purchase.
Selling a New Identity
In emotional sales, such as weight loss, the ultimate goal is to sell a new identity to the customer. This involves positioning the product or service as a transformative solution that goes beyond physical changes. By highlighting the long-term benefits, positive habits, and improved overall well-being, the seller can tap into the customer's desire for a better life. The focus is on crafting a narrative that allows the customer to envision a future where they have achieved their goals and experienced significant personal growth. This approach helps to create a strong emotional connection and makes the product or service more enticing and valuable to the customer.
"Is that worth it to you?” Today, Alex (@AlexHormozi) discusses the two main questions about sales that are essential to understanding the nature of persuasion. He breaks down how to build value for emotional sales and sell a new identity to potential clients.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.