Before making a significant purchase, customers typically follow a specific process to ensure they are comfortable with parting with their money. One crucial factor that influences their decision is having enough information and trust in the product or service they are considering, particularly if it is a new offering in the market. In the absence of sufficient information and trust, customers tend to be hesitant about making the purchase.
This is why marketing high ticket items is more challenging than marketing lower priced items. This type of marketing requires a different approach with specific strategies and tactics to reach its intended market and convert prospects effectively.
We believe that digital marketing is the most effective approach to selling high value and high priced products or services. This is because people nowadays spend most of their time online, making digital marketing a highly targeted and cost efficient way to reach potential customers. So, you want to be there, front and centre, when they browse and are ready to buy.
To effectively market high priced products or services, it’s essential to invest your marketing dollars in building trust and credibility. One effective way to achieve this is by leveraging social proof, such as customer reviews and testimonials, to demonstrate the quality and value of your offering. It’s crucial to ensure that the entire customer journey, from discovering your product to making a purchase, is as seamless and frictionless as possible, minimising any potential obstacles that may discourage customers from buying.
What are considered high ticket items?
A high ticket item can vary depending on the industry or market in question. But generally speaking, any product or service with a relatively high price point compared to similar items in the market is considered a high ticket item. Here are some examples:
- Luxury cars, yachts and private jets
- High-end jewellery or watches
- Large equipment or machinery
- Real estate
- High-end fashion or designer clothing
- Electronics and tech gadgets (smartphones, high-end cameras, audio equipment)
- Enterprise software used by organisations rather than by an individual
- Consulting, coaching or therapy services
- Exclusive memberships
Digital strategies and tactics that will boost your ROI
Be sure to equip yourself with the right tools, strategies and tactics. Here are 10 great ideas that your business can use to take your high ticket marketing to the next level:
- Email Marketing – This is a top choice for us when it comes to digital marketing because it has been proven to be effective for all types of products and services. With email marketing, you can explain your product in detail compared to, say, just a social media post. You can also personalise your message and do a targeted campaign to ensure that the messages your target audience receives are relevant, thereby increasing the chances of converting a lead into a customer.
- Paid Search – You can drive targeted traffic to your website and generate leads for your high ticket items by allotting marketing dollars to paid search ads like Google Ads drives customers that are a good fit for your business and who are searching for products and services like the ones you offer.
- Retargeting – This strategy is an important tactic for moving prospects down the marketing funnel. Retargeting means sending the right message or offer to a website visitor. To make this strategy more effective, target users by specific actions taken on your site (e.g., those who read a blog or those who filled out a lead magnet form) rather than casting a wide net (all those who landed on your site) which is not only ineffective but also a waste of money.
- Paid Advertising – A popular type of online advertising you should include in your digital marketing plan is social media ads like Facebook Ads and LinkedIn Ads. They can be an effective way to drive traffic and generate leads for high ticket items.
- Personalised Marketing – Personalisation is the name of the game when it comes to creating a lasting impression on your customers. Create targeted and customised marketing campaigns by using first or zero party data and insights. This way, you can connect with prospects on a more personal level and increase the chances of them making a purchase.
- In Person and Virtual Events – In person events are back but virtual events still have advantages and there are still people who prefer it over a live experience. The best approach is to try doing both so you can see which one will have a better outcome, or you can create a survey and ask your audience which ones they prefer. Events are a good way to launch a new product or service with demos and plenty of time to address customers’ questions about your company and products.
- Account Based Marketing – This is a marketing strategy where you concentrate your resources on specific accounts or high value prospects within a market and tailor your campaigns so you increase the chances of them converting into sales.
- Chatbot Marketing (website and social media accounts) – Chatbots are great when there’s no one around to answer enquiries. Incorporating chatbot functionality into your website and social media accounts can help you engage with prospects in real time and provide personalised recommendations.
- Optimising Your Website – Never make the mistake of putting your website among your last priorities. It’s really hard to grow a business when your website is not optimised to create a first rate user experience (UX) and is hard to see on mobile devices. Pay attention to graphic design, images, typography, navigation, CTAs and so on. Your website’s design is crucial to your online marketing presence and digital marketing strategy. A good website builds trust, communicates value and leads users to take the next step by showcasing your product or service’s unique features. Use tactics for conversion rate optimisation like A/B testing, heat mapping and user feedback. Don’t forget to include customer testimonials, reviews and social proof on your website (as well as in your marketing material) to build trust and credibility with your prospects.
- Content Marketing – Doing high ticket digital marketing without a content marketing strategy will make all your efforts useless. Content marketing will get you eyeballs. It can be a huge asset to your online sales growth but it demands effort to deliver the right content, at the right time, to the right people. There are many ways to get your audience’s attention, like blogs, interactive product demos, live streaming, seminars, webinars, podcasts and the list goes on. Always think of SEO when doing your content. Create content that speaks directly to your customer’s buying habits, content that helps prospects envision what success looks like and content that helps to eliminate low-quality competitors from the choices.
There are many more strategies and tactics unique to this type of marketing that businesses selling high ticket items should take into consideration. But as you can see from the list, there are a lot of things to do to get your unique product or service in front of your market. You can also utilise marketers who know the ins and outs of digital marketing for high priced items so you can focus on the other areas of your business where you are much needed.
Don’t do it on your own. Get a marketing agency or a marketing consultant to get the most out of your digital marketing campaigns. We are here to help.