High-Ticket Sales: 12 Ways to Sell an Expensive Product

 Salespeople who don’t work for the low-cost provider in their arena often struggle with losing deals based on price. Prospects are only human, and no one likes to pay more when they could pay less. That's why pricing in sales is one of the biggest barriers to purchase and a roadblock for many reps.

This roadblock is particularly difficult to overcome in the world of high-ticket sales. 

What Are High-Ticket Sales?

A high-ticket sale is the sale of an expensive product or service. Because of price resistance, closing a sale of a high-value but high-cost item often results in a longer sales cycle and requires a great deal of sales skill.

While there are certainly steps you can take to win against a low-cost provider, you’ll never come out on top with a poor product. If your product is only marginally better than your competitor’s — but costs significantly more — you’re going to lose deals. It’s just that simple.

However, if your product’s price reflects significant points of differentiation, you can come out on top. Here are nine tips for convincing the customer to buy a more expensive product.

Download Now: Free Sales Pricing Strategy Calculator

How to Sell Expensive Products

  1. Understand your buyer persona.
  2. Use a high-ticket sales script.
  3. Help them envision what success looks like.
  4. Figure out your competition.
  5. Eliminate low-quality competitors.
  6. Talk price only after you're in the lead.
  7. Ask about when low-cost choices let them down.
  8. Use examples of customers who switched from a less-pricey option.
  9. Use a trial close.
  10. Close for the technical win.
  11. Learn stakeholders’ buying histories.
  12. Formally close for a champion.

1. Understand your buyer persona.

Your product likely solves a specific pain or problem your ideal buyer is experiencing. It's not enough to talk nuts and bolts, features and pricing... especially in high-ticket sales. 

You'll need to identify your prospect's motivations, pains, and triggering events — perhaps before they even pick up the phone. To do that, create a buyer persona of your ideal customer and explore why they'd consider a premium solution for their situation. 

The information can give you an edge while building rapport, and you'll have a profile to compare against as you qualify prospects. 

2. Use a high-ticket sales script. 

Your conversation will take you in a number of directions, so it's okay to rely on your knowledge of the product/service and competitors during your sales calls. However, to sharpen your sales process, you should have a sales script for the primary stages of each deal: 

Intro:

The goal of the intro is to, of course, introduce yourself but also get their attention as quickly as possible.

"Hello [Prospect Name]. I'm [Your Name], and I help [Their Title] like you [What Your Product/Service Solves]."

Then, you'll lead into the conversation with an open-ended question. For example:

"Hello, [Prospect Name]. My name is [Your Name], and I help hiring managers like you reduce the time it takes to interview, hire, and onboard new talent in 50% less time than the industry average. How many new hires do you have planned for the year?"

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