One of my clients wrote in and asked me to break down her offer and really talk through creating a new offer for her using her book which we’re currently working on and are close to getting out.
A client hot seat if you will.
I don’t do this often, but I thought it would be a great learning opportunity for my readers.
We’re going to go through Grace’s offer step by step and create a high ticket backend offer she can use in conjunction with her book.
Grace’s book is called “Thrive Beyond Divorce.”
It’s a guided workbook that helps women who have been divorced create a strategic life and financial plan with an easy to follow step by step process.
The goal is to help them master their finances so they can discover their own genius to offer the world.
Grace shares on her website that she went from a really affluent lifestyle to completely broke after her own divorce.
Her book details the story of how she recovered.
She went on to create a really successful business in the financial services field. She worked with hundreds of women during and after their divorce. Women who were alone with their money became her own zone of genius.
Grace sold her practice in 2016 but knew that she couldn’t die with 30 years of expertise inside her, so she came to us to help her write a book so she could continue to share her knowledge.
The first thing anyone should do when setting up a high ticket offer is to make sure the offer has a high value to their audience.
What is your ideal client’s big problem that you’re going to solve for them?
Whatever it is, you want to make sure that it’s big enough that someone will write you a sizable check because you have the answers they need.
People typically don’t want a live six-week group webinar, which Grace has on the front of her website.
They also don’t want a six-month private coaching program, or twelve-month mastermind with weekly calls because after week three, they’ll most likely forget why you’re talking with them.
Then you’re going to be miserable having to speak every single week.
Grace also has both of those offers on her site.
None of these programs are speaking to a massive problem her clients have.
Nobody wants more time with you.
If you’re reading this, you don’t want more time with me, right?
You want answers to your specific and pressing issue.
Our default position when it comes to offering something high ticket is to give a client more time and more access to us, but like I said, that’s not what they really want.
Here’s a great example…
I work out probably four or five times a week unless I’m traveling.
I don’t work out because I enjoy it. I do it because I love to eat. I love to go to nice restaurants and I love dessert.
I try to eat right, but it’s really hard for me so I work out to maintain my health.
I’ve had fitness trainers and workout coaches but I like to work out on my own schedule and in my own time so I do it on my own.
But working out is not something I want more of.
If someone came to me and told me they have a pill I could take, that has no side effects and will allow me to eat whatever I want and look like a fitness model. They tell me the pill is $10,000 and I only have to take it once a year.
Alternatively, they tell me they could also give me unlimited access to them. I can come to see them as much as they want and we can work out together, we can go to any gym together, they’re going to teach me all the right way to do things, etc. This option also costs $10,000 a year.
Which one do you think I would buy?
I would buy the pill because I don’t want to spend more time in the gym. I don’t want to spend more time with a fitness trainer, I don’t want to lift more weights, and I don’t want to be on a treadmill anymore.
In some ways, I’m being facetious with this example, but the reality is more often than not, people would pay more for the faster solution that requires less work on and less interaction with someone else.
They just want their problem solved.
That problem is never solved with more webinar trainings or more private coaching or more masterminds.
The problem is solved when you can speak directly to what the problem is.
Grace wrote some things down and sent them to be about who her client is and what their problems are…
Her client is a female who has just gone through a divorce, is in the middle of going through a divorce, wants to become financially confident and independent, wants to stop worrying about money, wants to know how to use find her own purpose and mission, freedom to tap into her own genius and influence the world, wants to be an example to her children and live her ideal life on her own terms.
Those are all good things that her ideal clients want, but I would tell Grace that none of that describes their problem.
She’s described her wants and aspirations.
They want to be a good example. They want to live their ideal life. They want this, they want that. That’s all great to know, but it’s not targeting their pain point.
Fears and frustrations are different.
A frustration one of Grace’s clients might face is relying on a monthly check that’s coming in from an ex-husband that she doesn’t have a good relationship with. So it’s frustrating that she has to rely on that check and cannot be financially independent.
Fear takes that to an even deeper level.
A fear for this potential client could be, what if her ex-husband stops paying alimony or child support. What would she do then?
She wouldn’t have control of her finances and now she won’t be able to pay the electric bill or put enough food on the table or maybe she’ll have to move them out of the house.
Now these, are real fears.
This is how you have to communicate with the individuals you want to work with because these are the things that they’re really thinking about.
They don’t want a group coaching program or a webinar training, they want to know that they’re going to be okay. They want to know that their problems can be solved and that there even is a solution to their problem.
So step one is always going to be doing a deep dive into what your ideal client’s fears and frustrations are, and then determining how you can solve them.
Ideally, you’ve figured all of this out before you’ve written your book because you want to be able to share some of that within the book itself.
You want to be able to communicate that within the chapters, title, and subtitle of your book.
The next step to creating your backend offer is determining how you want to offer that solution to the world.
My first suggestion is that you come up with a mid-price point. This means something in the range of $3,000 – $10,000 even. It’s still a high ticket, but it’s in the middle of the road.
If we were to choose something for Grace right now, I would suggest an offer that’s between $3,000 – $5,000 that can be delivered in six to eight weeks.
In those six to eight weeks, Grace will take them from point A to point B.
This doesn’t have to be their ultimate solution, especially because it’s only a two-month window, but they should get a great result.
For Grace, this might be something like going from being completely out of control financially to being totally independent in eight weeks.
Bear with me, this isn’t my greatest copy, but the point is that she’ll be able to show them the path to getting a financial plan in place so they’ll no longer feel dependent upon someone else or have to worry about money.
I think this would be really helpful for Grace’s potential clients because it would apply to people who have already gone through their divorce, as well as people who are currently going through a divorce so she doesn’t have to wait for them to get to the other side. This will make her market that much bigger.
You’re not going to change someone’s entire life for $3,000 to $5,000 but you can get them a solution to one of their problems for that price within six to eight weeks.
At the end of the program, you want them to feel confident that they achieved the results they wanted.
How do you do that?
I would suggest using some tools that will work for you and your clients.
It could be one training a week, a prerecorded module they watch with a followup live Q and A call, a small amount of one on one time, etc.
Eventually, you might be able to hand off some of this work to team members.
At Best Seller Publishing we have project managers that do the initial call with our clients to help them map out their title, hook, subtitle, table of contents, etc.
I personally am not doing that at this point, although I once did do that.
By the end of the six to eight weeks, their fears should be relieved, they should start making changes, and feeling like they’re back in control of things.
They should be able to see real progress that you promised them.
At the end of the eight weeks, I would suggest having some type of exit call with these people. That’s not what you want to call it, of course. A better name might be “a strategic advice call” or “a future financial planning call,” etc., but it should be something where every single person who has been apart of your program has a one on one conversation with you.
Why would you want to do that?
One, you want to touch them. You should thank them and express your gratitude to them for trusting you and you’re so glad they did make progress/you were able to help them.
Two, you want to give them an opportunity to go to the next step with you.
What would that next step be?
It depends on your business and what your client wants, but it could be a 12-month coaching program, a 6-month coaching program, etc. But again, you’re going to name it based on the kind of results they need and how long it will take them to achieve those results.
This will be your higher ticket offer.
The first offer was $3,000 to $10,000 for six to eight weeks. This next offer will probably be in the range of $10,000 to $25,000 depending on the affluence level of your clients.
I think somewhere between $10,000 to $15,000 is a good place to begin.
This will probably be a group program that would take them from where they are now (after the initial six to eight-week program) and bring them even further, whatever that means.
For Grace, it might mean a real financial guide, or career help and counseling, or guidance with child-rearing, finding their passion and starting to explore it, starting a new business, etc.
Every month could be focused on a new topic, but you don’t want to be having individual calls with people every week.
That’s not a model you can build a big business off of because it’s not scalable. You’ll also burn out because it’s not sustainable and people in the group will find it frustrating.
On the other hand, you do want to have some type of group where they can interact with you on a regular basis.
A group will be a great support and will help to offer answers to questions, content, and inspiration which are all things you can’t do by yourself.
It’s also important to have a group because there’s a pain of disconnect, meaning when people decide to leave the group or leave your mastermind, they don’t want to take the next steps. They won’t be allowed in the group any longer which causes a disconnect.
If you’ve done your part right, they’ll feel the pain of disconnect because you’ve created a community where these people love each other, take care of each other and support each other.
Can they do that outside of the group?
Of course, they can.
They can become Facebook friends or exchange numbers, but you don’t ever want to worry about stopping that.
You actually don’t want to get in the way of that.
What you’re doing within the group is giving them an environment to really thrive and exist as long as they’re a client of yours.
You can determine how long you want to do that, whether it’s six or twelve months.
This will depend on what you offer and who your client is.
You won’t be able to solve everyone’s problem in six to eight weeks, so a longer, more in-depth program is the natural next step.
Depending on price points, I would estimate that as many as 25% – 50% of people will follow you from your mid-range offer to your higher offer.
If you bring in 10 people a month at the low price point of $3,000, you’re making $30,000 a month. At the end of that eight-week program, if 3 people want to continue with you in a $15,000 program, that’s another $45,000.
With a simple program like this, you can build a $1 million a year business by just engaging 10 new clients and keeping a 25% to 30% conversion rate to your higher-end offer.
Let’s recap the steps:
- Figure out what your client’s problem and create a solution that you can give them within a six to eight-week program that solves part of their problem and gives them great results.
- Create a six to twelve-month program that will solve more of their problems and help them gain more control or master the challenges and issues they face after the first program.
These two programs paired with a front end book offer could totally change your business.
I hope this was helpful to Grace, as well as anyone reading.
If I get any updates from Grace down the road, I’ll be sure to share them with all of you.
Connect with Grace