Episode 179: Is Your Low Ticket Offer A Scalable Addition Or A Cheap Starting Point?
Business is business, guys. And a low ticket offer is not the right entry point to any coaching business.
In this episode, I continue an online discussion on the difference between a low ticket offer that's meant to be a scalable addition to your business and one that's just a cheap starting point.
Main points I cover:
Understanding the concept of a low ticket offer
The benefits of a low ticket offer in a business model
Differentiating between a scalable addition and a cheap starting point
Factors to consider when deciding if a low ticket offer is right for your business
Low ticket offers can be a powerful tool for growing your business, but it's important to understand the difference between a scalable addition and a cheap starting point. By carefully considering the factors and implementing the right strategies, you can ensure that your low ticket offer is a profitable and sustainable part of your business model.
Posts references mentioned:
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Episode transcript:
Welcome back FEMNation. Let's talk about something a little, oh, heavier. I don't know if I want to call it heavier a little bit more specific. I think I want to go with that direction, but I want to talk about a conversation that came up that asked a question about something that I wrote about in a post. And then also I rewrote, and actually, no, not rewrote. I wrote a post diving into another layer of that particular topic recently so that we could really address it, right? And as I was writing that post and as I put it out there, and a lot of people felt seen comments, dms things, things that come up from producing content, especially when it's a topic that is more guiding in nature and giving perspective in nature than not motivational content, as a side note, will always get the cheers and the cheerleaders and the rah rahs and the ADA girls, and well, well done.
(01:12):
Good job. All the above. And that's really good. That's really good. I love motivational content for that reason. And in fact, there will be pieces of motivational content that I put out there on a regular basis because I love it and also because it does help. There's a time and place for person motivational content and personal development, but this is not that. And this is about low ticket offers, and this is about building a coaching business. And I really, really, really just feel like this is a conversation that's necessary to be had on multiple different mediums because of the nature of this industry. And first, I want to say that being an online coach is a hard title for a lot of us, especially when you're new to you. I say us because I will include myself into that conversation, but I'm not as new at it maybe a couple years ahead of you.
(02:11):
But that being said, it's harder for us to assume that role because then we take that, especially the coaches out there that are very intentional with transformation and change regardless of what it is that they specialize in. But it's very difficult to wear that hat because we find that in doing so means that some people's success and or subsequent failure is our fault or responsibility, not the case. But it comes with the knowing and understanding that there is, we are leading people and we are guiding people, and we're taking people on a journey, and we're giving them an opportunity to transcend the moment that they're in and see light at the end of the tunnel or look for the transformation that they're seeking and be able to work towards that. And so it comes with a little bit of a heavy heaviness because we know that that's putting ourselves out there.
(03:17):
To be a coach means that we are taking and assuming some level of responsibility for people's future, however that comes through, however those blocks need to be worked on. However it is or isn't the case doesn't matter. I'm not here to debate that. I'm just saying that any good coach will absolutely bear the weight of their client's success. Whether that is a stumbling block for the coach or not, because we care, right? You care, I care. It's our desire to be much more intentional and with intentionality comes caring. I care about my clients, I care about my audience. I care about my followers. I care about the people that respond to my content. I care about you, the listener, to this podcast. I care. I truly care. But I have to limit my bandwidth on how far I go with that conversation and assistance based on whatever containers or packages or opportunities for us to find ourselves working together.
(04:19):
In that being said, I'm going to dive into the low ticket versus signature offer conversation. I will hyperlink the post actually both the posts now at this point, discussing this so that you can follow back and see the content as it unfolded and really kind of how I dove into it. And let me just give you some context. If you're building a coaching business, truly building a business, or even have the desire that you want this coaching business, however new this is to you, and however you came into this world, and then to this industry and into this idea of this world coaching world, if you are new, if this is brand new for you, and if your heart's desire is to truly build a sustainable revenue generating business in this arena as a coach, you ought not to focus on low ticket offers. Not even if you're testing your audience or you're, you're looking for market viability.
(05:23):
That's a pricing piece. And I cannot put a low ticket offer versus a signature premium offer in the same conversation as price-wise, as it is about the context as to why it's being built. I see many, many, many new coaches learn that the idea of building a course, turning their knowledge into a digestible digital format for the sake of a transformation, to be able to offer it to others, be led down a road to create it as a signature offer. And you know what they do first? They underestimate the transformation. They're not a hundred percent sure of it yet. And this may be you, it certainly was me. But the problem is you're putting the entire offer, your whole signature offer, which is your entire transformation from point A to point B, getting them the results they're looking for. And that is your signature offer.
(06:21):
You're putting it into a low ticket container. I want to explain container real quick. Container is just the format of consumption for your ideal client. So a container can be a course, it can be a six month one-to-one. It can be a combination of hybrid one to one and group. It can be let's see, videos, some videos, some emails. It can be anything containers, just literally how we package it and put it together in order for it to be sold. But the container in itself is what is absolutely losing out, being viewed as a low ticket offer. But I'm not saying turn around and charge premium money for it. If you do not know the outcome or the transformation in its entirety that you can take people through and have already taken them through, it would be more advantageous Instead of putting everything into creating your signature offer at a low ticket price point, at a low ticket container to, instead of doing that and spending your time and energy figuring out how to market something for $47, it would be more advantageous for you to put your entire program together and offer coaching instead.
(07:43):
Offer to take someone through that transformation instead, do not give it away as a low ticket offer. It does not fit there. It devalues the transformation that you're ultimately bringing them through and it, it's going to cause a lot of heartache for you because $47 price point is not a sustainable business. Low ticket offers, whether it's a course standalone, whether it's a membership, whether it is whatever needs to be the least amount of your time, and it needs to cover a foundational element that your ideal clients are going to need to accomplish. Even if they work with you in your one-to-one, your premium signature offer, or they only do this one piece, your low ticket offer is there to scale your business once you have it established. And if you're focusing on low ticket offer, trying to meet the volume of what is possible that we see other coaches or other experts or other mentors or other influencers doing out there, if you're pocketing it there
(08:55):
At a price point that doesn't fit, you will lose momentum. You will lose desire to see it through, and you will feel defeated because you cannot, cannot transition out of a nine to five or having to work in order to have a business that can sustain your level of revenue needed in order to just make it. So this isn't about price gouging. This isn't about charging a lot of money. This isn't about creating a premium offer for the sake of creating a premium offer. But wouldn't it be better if you valued your process, your signature offer process and price it at $470 versus 47? And the only difference inside of there is you being able to talk about the outcome that is going to be able to be had by the ideal client that comes through to it. But if you gave it your all, wouldn't you give them that outcome no matter if you're still testing it, no matter if you're still not certain, wouldn't you give that to them?
(10:04):
We are taught in this industry. We are heavily taught in this industry to give things away for free. We build free groups. We market the group. We tell people to come to the group hoping that we can upsell them maybe to a $47 program later. We build a workshop and we offer free to attend. But $47 if you want v i p access and you get the recordings for life, we offer a ton of free stuff. So much so that opt-ins have become virtually useless. Everybody knows it's just an email grab or it's just a way to go on another list to be spammed or upsold later. But that's why your content, if you are not consistently showing up, telling the world that you are a coach, you have a transformation to take them through. You have a way to get from point A to whatever the point B is that your people are looking for.
(11:08):
If you're not even showing up there, don't even be building an opt-in. But if you're not even showing up there, your $47 low ticket offer is not going to sustain you. It's just not the one thing that is often left out in this industry by the influencers, by the mega names, the big names that have tens of thousands of people in their audience. The one thing that's left out is that they have a business model built on volume alone. They have 60, 70, 80, 90, a hundred thousand people in a group, maybe even more. And if they only get 1% or 10% of those people to opt in, they're making lucrative money. But do you know how to get 60, 70, 80, 90, a hundred thousand people in a group? You spend a tremendous amount of money on advertising to try to entice them to get into that group. So you rapidly grow your numbers.
(12:11):
Is that how you want to do it? Do you have the money to invest in advertising, paid advertising in order to get enough volume of people that if a fraction the industry's standard fraction of them purchase your $47 product, you're still making enough? It's backwards, guys. It's backwards. You don't have the volume. There are plenty of coaches and experts and influencers out there selling you that. It's easy to create your knowledge into a teachable format into a course. Yeah, but who's buying it? It's easy to hype you up, to show you, look what we did. Look what I did. Look how it's done, but not tell you it took a million dollars and three years to get to that point. That's not fair. Not fair to you, not fair to capture you in the hype and the drive and the emotional investment and leave some of the information out. It's not fair. But I'll circle this back around and I'll close this up with saying that if you are truly here to build a sustainable coaching business, which is absolutely possible, you have to start with your signature offer. You have to price it at something that is at least a good starting point to give you some wiggle room to make it. My friend's, 47 bucks for a low ticket offer is not it. It never will be it.
(13:52):
But if you want to see this through, flip your thinking, increase your pricing to a nice, healthy middle range with integrity, my friends, with intentional integrity. This industry is already dirty enough. It's already got a bad rap enough, and there are already plenty of people to bag on it, but it's real. It's possible, it's doable, and there are people that need you. So let's go do it different. Let's go do it better. But I'll wrap it up right there by saying no matter what, keep moving.