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Are you an entrepreneur or business owner attempting to thrive in the gig economy, using high-ticket sales to land upscale contracts that pay lucratively? Are you using traditional selling methods that simply aren’t closing your desired high-ticket clients?
If wealthy prospects are not buying your product or service, it could be because you’re using the wrong sales techniques, you’re being too pushy, you’re not listening to your prospects, and your techniques are not attracting upscale clients.
Traditional selling methods, also known as transactional selling, are all about pushing your product or service onto customers using old school pressure tactics, without first finding out if they actually have a need for what you’re selling. With traditional selling, there is very little regard for the customer’s needs or wants, and that’s why buyers often find these salespeople to be ‘slimy’. Even if you are able to sell them something that they didn’t really need by pressuring them, it’s unlikely they’ll be satisfied with their purchase, and it’s therefore unlikely that they’ll recommend your services to others or become repeat buyers.
Believe me, there is a better way to close high-ticket sales and keep your prospects coming back for more, and that is by using the consultative selling technique.
What is Consultative Selling?
Consultative selling is a sophisticated sales technique which involves a salesperson who acts as a consultant and spends most of their time listening to their customer or prospect’s unique needs. Consultative salespeople position themselves as trustworthy advisors who have their prospect’s best interests at the forefront. The sales meeting experience is therefore enjoyable and comfortable for the prospect, rather than awkward or uncomfortable.
The consultative method of selling depends upon your ability to build a meaningful relationship with your prospect, as it is a relationship-based approach to selling.
Do you know what happens when you build a relationship with your prospect and listen to their needs? You gain their trust, and you also gain a much deeper understanding of their specific needs so that you can better address their problems with solutions that will excite them. Once a genuine understanding of your prospect’s specific needs has been determined, you can offer a specific product or service that will solve their problem and impress the heck out of them.
Let me ask you a question: Have you noticed that some more traditional salespeople are very pushy and transactional, and try to sell you a product or service that you don’t actually need, which won’t really solve your problem? If you’ve experienced this, you can probably empathize with your prospect and recognize what not to do when it comes to selling your own high-ticket offers.
I can promise you that the relationship-building approach of consultative selling is much more aligned with your prospect’s actual needs and wants. That’s why consultative selling is not only a more effective sales method – it’s also a more ethical approach to sales.Consultative selling is a solution-based approach that involves a comprehensive insight of the prospect or customer’s industry, business, requirements, fears, hopes, dreams and challenges. Click To Tweet
The technique of consultative selling can be used to close sales in any industry and is highly effective, especially when it comes to closing high ticket sales.
What are High-Ticket Sales?
High-ticket sales is the art of closing high-ticket offers to wealthy, upscale prospects and landing lucrative contracts. Closing a high-ticket offer requires a more in-depth and sophisticated sales strategy as well as special high-income skills. Why? Because high-ticket offers are typically priced at $3,000 or more, and some high-ticket offers can even cost millions of dollars.
Examples of high-ticket offers include real estate, expert coaching programs, tailored marketing campaigns, educational courses, SEO copywriting, software systems, custom website design offers, IT services, quality jewelry, luxury cars, and premium retail services.
The strategic sales process of leading an upscale prospect towards a self-made decision to purchase your high-ticket offer often involves the relationship-based sales technique of consultative selling. This is because you’re more likely to close a sale using a relationship-based formula, especially if you’re selling a high-ticket offer at a premium price.
The Philosophy Behind Consultative Selling
Did you know that consultative selling is based on a formula of cleverly calculated questioning developed by Socrates? Over 2,500 years ago, the legendary Greek philosopher Socrates used strategic, open-ended questions to help his pupils problem-solve, ferment complex ideas, and come to their own conclusions.
Implementing Socratic questioning while using the consultative selling framework with a prospect really works. You’re helping prospects put their problems into their own words, which helps them discover what their true needs are. And, because you sit back and allow the prospect to self-realize their own challenges, you draw emotion out of your prospect, which leads to a decision to buy. Research has shown that 85% of our decisions are driven by emotion.
By letting your prospect talk and listening to their problems from a caring and attentive standpoint, you’re building a foundation of trust. Your prospect will be more open to hearing your proposal because you’ve taken the time to hear them first.
One of my favorite expressions is, “You were born with two ears and one mouth for a reason.” The expression originated around 55 AD from Epictetus, the Greek Sage and philosopher, and it means that we’re meant to listen twice as much as we speak. If we follow this guiding principle in sales, we are much more likely to close high-ticket offers.
The Art of Consultative and Relationship-Based Selling
Remember that consultative selling is a sales approach where the sales meeting is hyper-focused on the customer and centralized on exploring their unique needs. Picture this: You’ve asked the prospect thoughtful questions which convey that you genuinely care about achieving a positive outcome for them. You’ve listened to them with intrigue, and you’ve even taken notes and asked follow-up questions. The prospect therefore feels heard, and they also feel understood.
The prospect feels as though they are in control, and they begin to feel comfortable with the idea of buying from you, especially if you confidently state that after hearing their problems, you have a solution for them. Rather than feeling pressured to make a purchase, they are being advised within a no-pressure zone. Wouldn’t you agree that most people hate being sold to? It’s my belief that most people want to feel as though they’re in control of their own decisions, which is why traditional high-pressure selling tactics often fail.
Consultative selling is great because the seller ends up fully understanding their prospect’s business and strongly comprehending their exact goals. The prospect, on the other hand, has invested time explaining their business, their goals and their needs to you, and they now feel confident that you’ll present an effective solution and provide them with some great answers to their problems.
Because you took the time to listen to their needs and wants, they will now trust you to offer them a solution that will work for them, and you’ll be much more likely to close the sale. Believe me: When you master the art of consultative, relationship-based selling, you’ll be in an advantageous position to become a High-Ticket Closer in no time.Closing is an art, and so is relationship-building. Click To Tweet
Some examples of thoughtful, consultative-style questions to ask your prospect include: What are your goals? Where are you currently struggling, and what are your current challenges? What are your hopes and dreams? What is working well for you, and what is not working? What are your fears? What is your biggest obstacle? What is most important to you?
If you think about it, these types of strategic open-ended questions can help you sell anything from real estate and luxury goods to software and copywriting services. Let’s take real estate as an example: If you’re selling houses, you’ll need to use the consultative selling framework with your potential buyers, because you’ll need to ask questions in order to figure out what their dream house is.
By accessing a deeper insight into how your prospect thinks and gaining a thorough understanding of their needs through consultative selling, you’re accessing your wealth by closing high-ticket sales. It makes a lot of sense, doesn’t it?
Key Differences Between Consultative Selling VS Traditional Transactional Selling
A consultative sale is different from a traditional sale in that it involves suggesting a tailored solution to the customer’s problem after listening to their needs, rather than the sole purpose being to sell a specific product that may not meet their unique needs.
In traditional transactional sales, the salesperson’s first objective is selling their product, and traditional salespeople typically don’t empathize with their customers as much since it’s often about the one-off sale with an objective of selling quickly so that they can move onto their next sale. In consultative sales, however, the salesperson’s first objective is building a relationship with the potential customer, and fostering this relationship comes before the actual selling. More time, effort, compassion and care is required for consultative selling, but it pays off.
Doesn’t it make sense to you that consultative selling results in less wasted time, since a higher percentage of high-priced deals are closed using this method? More high-priced deals are closed in consultative selling because you are consulting with potential clients to qualify them as leads, and you’re deciphering who actually has a genuine need for your solutions. Consultative selling involves finding prospects who truly need your product or service, and may become long-term clients.
Traditional selling does not place much focus on developing authentic, long-term relationships with customers because these salespeople are just trying to make a quick sale. Traditional transactional selling will sell their product to anyone, and assume everyone needs their product, without bothering to find out what their buyer’s needs are.
You’ll have the advantage over your more traditional competition if you build a sales culture aligned with the needs of your prospects, figure out what excites them, and take the time to consult with them.
Traditional salespeople will spend most of their time pitching and explaining the product or service they are selling, whereas consultative salespeople spend most of their time listening to the prospect’s needs. Consultative selling is an “all about the prospect” approach. Traditional salespeople, however, will do most of the talking on a sales call, and center the call around the features and benefits of their product or service. This is also known as an “all about the product” approach.
You may have noticed that traditional salespeople are often overly persistent, manipulative, and pushy. You could get pushed into buying something you didn’t really need, but the traditional salesperson isn’t going to follow up to see how you’re doing. They aren’t thinking about you anymore, and they’re already onto their next target.
Think of it this way: Consultative selling is more prospect-focused, and traditional (transactional) selling is more product-focused. Isn’t it true that as a buyer, you’d be more likely to buy from someone who spends more time listening, and less time selling? I firmly believe that consultative selling is the better technique if you want to be a High-Ticket Closer, and I also believe it’s the more ethical approach.
Why High-Ticket Closing Requires Consultative Selling Over Traditional Selling
High-Ticket Closers are industry experts with high-income skills who sell products and services that hold a high value in the marketplace. High-Ticket Closers aim to influence their prospect towards a purchase that will help solve a significant problem for them, one which requires the closer’s high-income skill and expertise. The prospect will typically feel relieved and thankful after purchasing the high-ticket offer.
High-Ticket Closers don’t chase clients, they attract them. Imagine this: Your clients view you as an expert or an influential authority figure in your industry. They therefore come to you with their problems and trust you enough to open up to you about their unique needs, hoping you will listen and then provide the solution they’ve been looking for. This requires consultative selling because you’re attracting wealthy clients who want their problems heard, so that they can trust that the solution you provide will be tailored to their needs.
In other words: High-Ticket Closing requires consultative selling because high-paying clients want to hire someone they have built a relationship with, whom they trust and whose skills they are confident in. When a customer is spending big money, they need to feel certain that what they’re buying is the best possible fit for them. That’s why the consultation aspect is important.
High-Ticket Closers are great at fostering authentic relationships with their upscale clients through consultative selling, and the client therefore keeps coming back to them the next time they have another problem or requirement.
High-Ticket Closing is very different from traditional selling because High-Ticket Closing requires a more patient, sophisticated and thoughtful approach when compared with conventional, transactional selling. With traditional selling, you’re persuading prospect after prospect to buy from you. With High-Ticket Sales, you’re persuading your prospective client towards making a high-priced commitment. Since high-priced commitments require thought and analysis, acting as a consultant and using the consultative selling technique is the more effective way of closing high-ticket offers, wouldn’t you agree?
Identify Areas of No Competition Using the Blue Ocean Strategy
When a salesperson is extremely skilled at the consultative selling and relationship-building technique, they can actually intrigue their clients with new ideas, new perspectives, new products and never-before-seen solutions. They can create ‘blue oceans’ of uncontested market space, and influence their clients to try out a brand new solution that they’ve created.
In their iconic strategy book Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant, W. Chan Kim & Renée Mauborgne coined the terms ’red ocean’ and ‘blue ocean’ to describe the difference between the saturated and overly-competitive marketplaces versus the marketplaces not yet in existence, and therefore untainted by competition. Their insightful theory explains that red oceans are full of all the industries that already exist and everyone in the crowded red oceans are attempting to out-perform each other, while the profits are greatly reduced due to there simply being too many boats in the ocean. The authors of Blue Ocean Strategy explains that the competitiveness in these overly-saturated marketplaces is cutthroat, which is why the ocean is red and ‘bloody’.
‘Blue ocean’ refers to industries not yet in existence. The waters are therefore untainted and blue. Blue oceans are the unknown or untouched marketplace, free of rivals, and not yet corrupted by competitors. Any individual entrepreneur can create their own untouched blue ocean, and if they succeed in this, they can dominate the market space they’ve created. If you create a blue ocean space, you are in essence creating a demand for something and as the demand grows, your business will grow.
Creators of blue oceans have identified areas without competition, by creating a solution that doesn’t currently exist. A blue ocean is unpolluted, vast, untouched and holds endless potential for growth, profit, and demand. By creating a blue ocean, you’re bringing previously unidentified market needs to the surface, and revealing these needs to your prospects while also offering a unique solution.
What is consultative selling? Consultative selling involves being prospect-focused and spending lots of time listening to your prospect’s unique needs, hopes, fears and challenges. Check out my list of tips for becoming a great listener. The seller will prioritize first building a relationship with the prospect, explore their needs, and then sell them a product or service that will genuinely solve their specific problems.
How is traditional selling different? Traditional selling is more transactional and product-focused. Imagine a car salesman who uses the traditional selling method, and doesn’t really care how important of a decision it is for their prospect to buy the right car. The car salesman will spend as little time as possible with the prospect, hoping to sell them a car as quickly as possible, so that they can focus on their next prospect. The prospect might end up buying a car that doesn’t suit their needs, because the time wasn’t taken by the salesman to decipher their specific needs.
Why is consultative selling so much more advantageous and more effective than using the traditional selling framework? Consultative selling helps the sales professional build a deep understanding of their prospect’s needs so that they can offer the best possible solution.
The outcome of consultative selling is that the buyer is greatly satisfied with the solution provided, and a strong relationship is fostered between the buyer and seller, which results in word-of-mouth referrals and repeat business.
High-Ticket Closing requires consultative selling. If you’re a High-Ticket Closer, it means you’re an expert in your industry and you’re very skilled at what you do. Your clients view you as an influential authority figure in the industry. They therefore come to you with their problems and trust you to listen and then provide the perfect solution. High-Ticket Closing requires consultative selling because high-paying clients want to hire someone they have built a relationship with, so that they’re able to trust that the solution provided will be exactly what they need.
You can identify uncontested market space and areas of no competition using the Blue Ocean Strategy. ‘Blue ocean’ refers to untapped marketplaces or industries not yet in existence. This uncontested market space is free of rivals, and not yet corrupted by competitors. Any individual entrepreneur can create their own blue ocean, create demand, and dominate the market space they’ve created. When a salesperson is extremely skilled at the consultative selling and relationship-building technique, they can actually intrigue their clients with ‘blue oceans’ of new ideas, new perspectives, new products and never-before-seen solutions. They influence their clients to try out a brand new solution that they’ve created, using consultative selling.
To become a great High-Ticket Closer, take my masterclass and use the consultative selling technique to close high-ticket sales.