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Why are many high ticket deals closed successfully by women in sales? High ticket offers – products or services with a price tag of $3,000 or more – need salespeople who can get on the phone to close the prospect. Women perform well at sales, but what skills and tactics are they using to achieve high success rates?
Table of Contents
- Why We Need More Women In Sales
- Women Who Have Successfully Closed High-Ticket Deals
- Closing Deals Without Past Sales Experience
- Not Letting the Market Decide the Price
- Not Selling Gets The Sale
- Sales Mindset and Psychology
The old stereotypes of the fast-paced, aggressive sales world dominated by men isn’t effective in high ticket sales. It’s time to recognize a new type of high-ticket sales in which men and women succeed.
High-ticket closing is very different from the traditional door to door sales or cold calling, and it’s attracting a different group of applicants. If you don’t have any previous sales experience, you can succeed at high-ticket selling and make good commissions from it with the proper training.
Any business that wants to increase their sales quota or revenue should increase the number of female closers that they have. However, the number of women in sales hasn’t increased and “fewer than 1 in 5 women in sales hold leadership titles.”
Do women really have what it takes to excel at sales? And if they do, then is it a matter of encouraging more of them to choose sales as a profession?
Why We Need More Women In Sales
The industry needs more women in sales, especially high-ticket sales. If you are involved in selling premium products, you don’t chase the prospect. You consult, you coach, and you provide solutions to their needs by finding out their deepest pain points. Because of the sensitive nature of some of the calls, some prefer female closers.
Finding Common Ground
Imagine you’re a mother who set her career aside to raise two children full time for the past ten years. Now you are considering a business coaching program to learn how to start your own business. You’re worried about how your entire family is going to feel about your decision, and whether you can still be a good wife and mother. Who would you feel more comfortable speaking to, a male closer or a female closer?
Having this gender diversity in the sales workforce is better for finding common ground with the client base. Mothers can connect better with closers who are mothers. Female business owners can identify better with women who are in sales.
Imagine a female entrepreneur whose pain point is not having time for her family and all of the housework. Can a male salesperson be as effective at closing her for a business coaching program? Can he build rapport by saying he understands how she feels? He wouldn’t have the same rate of success as a female closer who has her own family or felt the pressure of people telling her to conform to traditional responsibilities for women.
Changing the Sales Pitch
One way to attract more women into sales roles is to change sales culture and how women are recruited. Forbes magazine says that, Men apply for jobs when they meet 60 percent of job qualifications; women don’t apply until they’ve met 100 percent of them. Click To Tweet It also says that “If your job qualification of five years of full sales cycle experience isn’t an actual requirement, change it.”
Another way is to change how people perceive women in sales. In a joint study by researchers from HBS, Wharton, and MIT Sloan, “Male-led [sales] pitches were rated as more persuasive, logical, and fact based than those narrated by a female voice.” How did this perception translate into the sales world?
They observed that “68 percent of investors preferred entrepreneurial ventures pitched by a man rather than an identical pitch from a woman.” With this type of bias in sales, the 12 percent of women who make it to the top as an entrepreneur or C-level executive will face challenges in advancement.
Despite these challenges, are women successful at closing deals? Sales statistics prove that companies that hire saleswomen perform better than those that don’t.
Diversity is one reason for having more women in sales, but there are other key reasons. According to a LinkedIn report, women represent 39% of the workforce in sales, and only 21% of Vice Presidents in Sales are female. But there are groups working to change that.
At Microsoft Inside Sales, they hired 1500 sellers last year, and half are women. The thinking is that women attract other women. For example, some women may not want to join an all male sales team. But other women would welcome the opportunity to join an all male sales team because they would see that as a challenge to be the only female. The reactions will vary.
A third benefit to having more women in sales is financial. The University of California-Davis reported that “the top 25 California companies with the highest percentage of women executives and board members saw a 74 percent higher return on assets and equity than the broader set of companies surveyed. This included companies such as William-Sonoma, Yahoo!, and Wells Fargo.”The highest percentage of women executives and board members saw a 74 percent higher return on assets and equity. Click To Tweet
In addition to the financial benefits, the Xactly Insights Gender Study of Sales found that
- Women in sales achieve higher quotas
- Women in sales usually remain in their role longer, decreasing turnover
- Companies with gender parity see above-average revenue, market share, and profitability
Clearly having women in sales is a benefit to both the customers and the companies that hire them. I’ve mentored and hired female closers and seen very strong results.
Women Who Have Successfully Closed High-Ticket Deals
I want to share the stories of three women who graduated from my High-Ticket Closer™ Certification Program. One of them didn’t have any sales experience. The other two had their own business, but they wanted to charge more for their services.
What they learned from the program was how to change their way of thinking and operate with an abundance mindset. When they changed their way of thinking, and operated with an abundance mindset, they were able to close four and five figure deals.
Closing Deals Without Past Sales Experience
One of my students, Susan, completed sales of over $25,000 within six weeks of graduating from the course. She closed three influencers to work with her. Influencers are coaches or business owners selling their own programs and they have consistent lead flow. That means they have a steady flow of prospects inquiring about their products.
Before the course, she didn’t have any sales experience whatsoever. After she finished the course, she continued to hone her skills through role play and feedback. Susan really mastered her closing skills and tripled her closing ratio in just a few weeks.
She has three deals that she’s working on closing that will give her an income of $150,000. She says changing her mindset helped her to get these results.
A Career For the Modern Economy
Her story is proof that it is possible to succeed at a new career if you put in the time to learn a new skill. One of the reasons why Susan and other women are drawn to a career in high ticket closing is the flexibility to work where and when you want.
Some women want to close as a side business, to earn extra income while they continue to work at their full time day job. Not all women want to close deals full time. Other women want to close as their only source of income while they continue to be stay-at-home moms. Some of these women are single parents while others are married to a spouse who works full time.
Currently there are a lot of mothers who work in sales. For example, this list from the U.S. Department of Labor shows the percentage of workers in each occupation who are mothers:
- 40% in retail sales
- 50% in real estate sales and brokerages
- 50% in insurance sales
- 46% as sales representatives
- 45% telemarketers
Research on the job benefits that women look for in a career shows that, “62 percent of women said a more flexible schedule, including the ability to work from home, was their biggest motivation to succeed.”
Not Letting the Market Decide the Price
Another student, Teresa, who showed strong sales skills was doing consultation work. Other people in the same industry charge $100 to $500 per hour for similar services, but she closed a deal for $10,000, and the prospect didn’t even budge on the price. She believes it was the amount of time she spent practicing her closing skills during the classes that got her the close.
Handling Price Points
Just how important is it to be able to close at a higher price point? Studies show that “high authority” sellers [sellers who had the authority to deviate from the listed price] had 11% lower average margins and 13% fewer sales per seller compared with sellers who had low authority to negotiate on price.” It meant that these sellers were too emotional, too anxious to close the deal, or not confident enough when it came to sales negotiations. It also meant lower margins on their commissions.
Teresa improved on her ability to handle objections, including what do to if a prospect said her price was too high. One of the most common reasons why a prospect won’t buy is budget or price. According to Hubspot, “Price objections are common in sales — primarily because most prospects have learned pushing back on cost will get them a discount.” They also think they can get the same offer for cheaper somewhere else.
What Teresa learned from the class, however, was that when you show a prospect value and when the prospect sees how you can solve their problem, then closing at your price point becomes much easier.
Teresa is an example of how strong closing skills and frequent practice are key to closing deals at high price points. She spent hours everyday role playing with other students in the class to perfect her closing skills. She also recorded her role plays to analyze her strengths and weaknesses. Her classmates also gave her feedback on how she could improve. She hopes that her story will inspire others to have the same success.
Not Selling Gets The Sale
A third female student, Anna, closed a deal for her own product just by understanding what her client needed. The product used to cost $1000, but she closed it for $3000 without getting any client resistance.
The client had a passive personality, so it was important that Anna listen to her. She could tell the prospect needed a lot of support and encouragement, so she talked less and listened more.
Powerful Buyer Insights
She understood the power of buyer psychology – what does and doesn’t motivate a buyer to make a purchase. For example, here are some “golden nuggets” – insights – about potential buyers:
- People love to buy but they don’t like to be sold to. They love to hear about your new product or service as long as they don’t feel like you’re manipulating them into buying your offer.
- It’s not about the price. It’s all about them, where they are in the decision-making process, and how you can help them solve their problem.
- People buy with emotion justify with logic. They can be motivated by fear, such as “If I don’t make a decision now, I’m toast.” After they make a decision, they will find the facts and logic to explain their decision.
- Buyers are about value. Find out what the prospect perceives to be of value. For example, ask these questions: What are they used to paying? What could they do without? What would they gladly pay more for? How would they view your offer differently from others?
Anna didn’t push the client to buy anything or talk about the features and benefits of what she was selling. Instead, she listened to the client’s pain points. What problems were the client having? What was holding the client back from getting the results she wanted? Sometimes a client will be reluctant to share what is really holding them back from committing to a purchase, so it’s important to build rapport and trust, and ask the right questions.
As a high ticket closer, Anna focused more on listening to the client’s problems and not on pushing her offer.
The client thought that $3000 was a lot of money, but she needed the product now. She saw Anna as the person who had the solution to her problem. Because she saw Anna as the solution, she found a way to get the money and the client closed herself on the deal.
Sales Mindset and Psychology
These success stories show that high-ticket selling is about having the abundance mindset. Don’t be afraid to ask for higher prices because you are helping the prospect with their problem. When the prospect sees the value in your offer, they will close the deal themselves.
These stories show that women can close high-ticket deals because it’s not about selling the product or service. It’s about listening to what the prospect or customer wants, and having the right mindset when closing a deal.
Businesswoman and investor Barbara Corcoran said, “The biggest challenge in business is not the competition, it’s what goes on inside your own head.” She has a proven track record in high ticket sales, from selling real estate to selling her brokerage to real-estate giant NRT, to selling the producers at Shark Tank to choose her as an investor.The biggest challenge in business is not the competition, it’s what goes on inside your own head.” - Barbara Corcoran Click To Tweet
It’s time to change the sales industry. More women in sales is beneficial to the customers and to the companies that hire them.
Do we need more women in sales to close high ticket deals? Statistics show that companies that have more women on their sales team fare better financially. Women achieve higher sales quotas than men, but few make it to C-level positions within in a company. One reason is the biased perception that exists about saleswomen.
High ticket deals require closers who are effective listeners, who spend the time to ask questions to find out if the offer is the solution that the prospect needs. High ticket sales is not about pushing a sale. With this approach, the salesperson is more of a coach.
Learning a high income skill such as high ticket closing doesn’t require a sales background. One student closed deals within weeks of graduation. Another student was able to handle the common price objection and charge the rate that she desired. A third student closed a prospect by showing her that she could solve the prospect’s problem. She didn’t need to push the sale.
Women have shown that they can be rockstars when closing high ticket deals worth thousands of dollars. Success comes with learning the right mindset and mastering a high income skill.
Interested in learning more about how to close high ticket deals? Or maybe you know a woman who could be a high ticket closer. Click here to get more information on my free training.