The 21st century has seen an exponential rise in the use of the internet. It affects our daily lives in one way or another as the majority of us are using social media or have our own website. Logically this personal use of the internet has developed to the point that businesses now carry out a large part of their operations over the internet, and at the very least, they are using it to advertise and market their products or services.
There are many types of products that can be sold, but today we are going to focus on high-ticket products. These products or services have a high value and are priced accordingly, and for many people, they are the holy grail of internet sales as they offer the potential for great margins. Here we are going to take a look at how to sell high ticket products online.
Make Them Affordable
When selling high ticket items, you basically have two options to make them more affordable and, therefore, more attractive to customers. The first is to lower the price, but this is no good if you are trying to sell exclusivity whilst also trying to maintain your margins. A much better solution is to offer a payment plan so that the customer can pay in installments. High ticket goods, by virtue of their name, are costly, so is it really a surprise that when we see cars or bicycles advertised online there is a big deal made of the fact that you can pay in interest-free installments? Of course not! The customer still wants the brand new Mercedes and is perfectly willing to pay for it over time, so give them the option!
Dropshipping is a very clever way of selling goods without ever taking ownership of those goods. What you will do as the retailer is market a product and then transfer any orders that you receive directly to the manufacturer or sometimes even to another retailer. They will then ship the goods to the customer, so effectively you are just a middle man. You might want to click here to see examples of drop shipper suppliers that you can use as a method of selling high ticket goods whilst maintaining high margins. Typically as a middleman, you can command margins of 30%, so imagine what you will earn if you sell an item worth $1,000 compared to one worth $10?! Very quickly, you can earn a great income by just doing the marketing and then taking your cut. This method also means that you can be much more dynamic and can follow market trends by diversifying into new goods as soon as they become popular, allowing your business to flourish into different avenues.
Be Comfortable Selling High
It is impossible to sell high priced items if you are not comfortable selling them, as you need to have the right mentality. A customer will notice immediately if you shily mention the price under your breath, or it is hidden away at the bottom of your website. Sure, you might be asking a lot of money, but if your product or service deserves this price, then you have to sell it with conviction.
Just because your competition is half your price, this doesn’t mean that a customer will ignore your product, as long as it deserves its price tag. Look at the mobile phone market, you have a market-leading product from Apple, costing $1,000 and a Chinese brand that costs half the price. Customers still buy from Apple because they are assured of the quality that they are buying. Apple does not advertise their price quietly; they boast about it because they know it is a sign of quality as they have the best product on the market.
When shopping for high ticket items it is important that your website and social media has selected reviews on your products from satisfied clients. These reviews should not be in your face as if you were selling a mobile phone case, they should be in tune with the high-value product that you are selling. If you are selling a dream holiday to a six-star resort, try and have a tasteful review from a prominent blogger or celebrity on your website. You will be surprised at the effect that it can have.
As we have learned, there is an art to selling high ticket products online. They need to be affordable and available to all, they need to be sold with confidence that they are worth the money that you are asking for, and always try and provide satisfied customer feedback, to show that you already have a market. Use drop shipping firms to your advantage so you are not taking physical charge of the goods and you can maximise your margins.