Kevin Leyes is the Chairman of Leyes Enterprises and the CEO of Leyes Media, an SMM and PR agency, and Team Leyes, an urban jewelry company.
One of the major challenges entrepreneurs face today is the marketing (or lack thereof) of high-value products or services. As an entrepreneur myself, I’ve found this is often due to a limiting mentality in relation to the value you deliver in each product, the perception of your merit and the power you assume you have.
Entrepreneurs need to master these three aspects in order to start selling high-value services. But first, what do I mean by “high-ticket” or “high-value” services? From my perspective, a high-value product or service is not simply about having a high cost; it’s about providing solutions that fully satisfy a need or problem for your consumers.
Based on my observations, the marketing of high-value products or services is becoming more and more present in companies. Thus, I believe any product or service with the capacity to transform or improve people’s lives in a positive way can be considered in this area.
What are the possible benefits of selling high-value products and services?
If there is one thing I have learned in my experience, it is that the marketing of high-value products or services not only results in benefits for the people who acquire them by satisfying a need, but also makes a big difference in the development and growth of the company.
I want to share with you some of the benefits that I’ve seen high-ticket offers bring to my companies:
• An image of authority: I’ve found that selling services or products of high value can help generate an image of authority in your industry. However, it’s important to, again, note that this doesn’t mean you are simply pricing something at a high cost. Rather, your product has the power to transform people’s lives and satisfy a need or problem for those who purchase it.
• Higher profit margin: In my company, I saw that offering products of higher quality increased our profits. If you’re able to offer higher quality products (and at a slightly higher price) you might also see your revenue improve.
• Contributes to brand growth: If your product is recognized by the quality and value it offers, you might find that the reach of your brand increases. This was the case in my business, and I found it can make a difference when you’re compared to your competition.
• Increased confidence: I also observed that selling high-value products in my company helped generate greater customer confidence in my company. This was not necessarily because of the price of our products, but because we were offering quality, effectiveness and results, which is precisely what the customer expects from a high-value product.
The Practice Of Offering High-Value Services
Getting started in the practice of marketing high-value products and services is not as complicated as it seems. However, practical elements are required to carry it out effectively and achieve success in the process.
If you are an entrepreneur, whether you are just starting a business or have an established company, the main requirement for marketing high-value products or services is your mindset. This is the biggest hurdle you must overcome before you begin.
A limiting mentality is one that will make you doubt your ability and worth entering the area of high-value products. It is essential to believe that offering valuable services is possible and to start in the most active way, taking into consideration the following aspects:
• Offer transformation: One of the main elements that a valuable product must possess is the ability to transform people’s lives. Your product should be able to make a difference or solve a need or a problem effectively.
• Transmitting inspiration and power: The idea of high-value products is not just to sell something expensive, but to create a lasting relationship with customers. For this, a message of inspiration and power is indispensable.
• Telling the story your customers care about: This element serves to attract attention and generate a positive perception of the brand and the product. You move emotions and make the person feel motivated to acquire the product or service immediately.
Developing High-Value Sales
Making high-value sales is more favorable if you apply mindset and skill in combination. I would like to recommend some strategies you can consider that do not require great investment by your company to make this practice part of your business:
Embrace influencer marketing. This is one of the most common areas used within my urban jewelry brand. Through this experience, I’ve found that influencer marketing can provide the opportunity to work in partnership with people with great influence on social media. Choosing the right people for this job can provide great power and generate a noticeable effect of attraction.
An influencer is the means by which people can meet and hear about the product in a safe, direct way. This generates more confidence to motivate them to acquire it. Consider working with an influencer whose audience also aligns with yours. As a result, you can read their followers and ensure they’re educated on the services you offer.
Prioritize building trust. In order to sell high-value products, it is necessary to build trust and security and to make a difference. Offer high-value services is not just about being another e-commerce store; it’s really about being a brand that offers people what they need and recognizes the value of its products for their effectiveness and usefulness.
Combine your mentality, perception and belief in what you sell, and apply the right strategies to make a difference. Then, you will be able to see the value of your products or services and transmit it to the audience you want to capture.