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branding

Feel Nervous When Raising Your Price?

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Welcome back to High Ticket Weekly Newsletter…

In previous newsletters we’ve covered a vast range of topics to help you build and grow your expert business.

Today, we’ll discuss one of the most important factors that determines your profitability and success.

PRICE.

Done right, you’ll create high margins and boost profitability.

Done wrong, you could see your business fail almost overnight.

In fact, in some cases, price can even become a marketing strategy.

So let’s dive in.

First, let me ask you…

How do YOU price your products and services?

If you’re like most people, you look at your competition and charge something similar.

This may seem like a smart thing to do because it keeps you “competitive” in the marketplace, but is that really true?

Personally, I don’t think so, and if you want to know why this is a bad idea, then click here to listen to this short podcast >>

Why Smart Brands Command A Premium Price

At the end of that podcast, you will have heard me talk about charging based on your value, and we’ll dive deeper into that in just a moment…

But before we do, I want to share with you how smart brands COMMAND premium prices.

If you take any high priced item, what’s the first word that comes into your head when you hear their brand name?

Most likely you’ll think expensive, prestige, high quality, status, etc.

That’s the kind of thing I’d like people to think when they hear my name.

And your brand should be no different.

(If you want to a crash course branding, please refer to one of my previous newsletters.)

In fact, studies show that people actually enjoy paying higher prices.

And in this video, you’ll discover a groundbreaking wine experiment that will give you more confidence in charging higher prices >>

3 Pricing Strategies To Price Your Product Or Service

In this video I discuss 7 different pricing strategies >>

One of which to price yourself is by the hour.

This is a bad idea if you want to scale your business.

3 of my favorite pricing methods in that video are…

  1. Price to Package – you create a package and price it accordingly.
  2. Price to positioning – you’re paid for your positioning in the marketplace.
  3. Price to value – you’re paid for the value you bring.

I strongly recommend you choose one of the 3 strategies above.

They’ll make business far easier and more profitable.

To discover how to price your services based on value and why people will pay you what you’re worth click here >>

How To Charge What You’re Worth So You Can Hit Your Revenue Goals

Charging what you’re worth isn’t only important if you want to hit your revenue goals…

It’s also important for your clients.

If you watched the video about how smart brands command premium prices, you may remember the wine experiment and how high prices changes your client’s psychology.

It’s also important because if there’s no skin in the game, there’s no game.

The more you charge, the more seriously they’ll take the transaction and relationship, and quite possibly, the better results they’ll get.

In this video, you’ll discover how much you should charge so it’s a WIN/WIN for both of you, and how much your time should be worth to hit your revenue goals >>

How To Sell More With Contrast Pricing

FAIR WARNING: You’re about to discover a very sneaky pricing strategy that will help you sell far more of your products and services.

I call it the 3 box method.

Now there’s a reason why we use 3 options and not just one or two.

There’s a reason why we create these offers in such a way they almost always choose the middle option and not the most expensive option.

To find out exactly why and how this contrast pricing method works so well, click here >> 

In our business we have multiple offers and use the 3 box method when we present to our prospects, and it works very well for us.

How To Raise Your Prices Without Feeling Nervous

I’m not going to lie…

Raising your prices can be intimidating, which is why people don’t do it more often.

When I was in my early twenties I raised my price from $1K to $10K in just a few months…

But don’t get me wrong, I was doubtful and scare of raising my price by even 10%.

So, if you want to know how to raise your price without getting nervous, and hear the funny story about how I made it work despite being doubtful, then click here >>

The Real Cause Of Price Resistance

It may surprise you to learn that all price resistance IS NOT in the mind of the client.

So to close this newsletter out, I want to share with you where ALL price resistance comes from >> 

I hope you’ve enjoyed this newsletter on pricing.

The content inside should empower you to choose the right pricing strategies for your business and increase your prices ethically and still have people pay them.

To your success,

Dan Lok

P.S. – Our exclusive 3-day live event High Ticket Mastery™ kicks off in just a few weeks.

By the time the event is over, you’ll have a “done list” NOT a “to-do list” of tasks already completed, and you’ll be well on your way to taking your business to multiple 6 or 7 figures.

So if you struggle to create and sell irresistible high ticket offers, then click here for the full scoop >>

5 Killer Personal Branding Secrets..

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As promised…

I said I’d do a newsletter on Personal Branding, so here it is.

This newsletter follows on from the previous one where I talked about your Unique Selling Proposition, marketing message, and your positioning.

Before we get into the strategies of how to build your personal brand, let’s define what personal branding is.

In simple terms, your personal brand is your reputation.

It’s how you want to be perceived by your marketplace.

It’s very important, but only a tiny percentage of business owners know how to build their personal brand intentionally.

When people hear Dan Lok, I want them to think ‘high ticket’, ‘prestige’, ‘luxury’, ‘helps experts and service-based business owners reach 7 and 8 figures in revenue, and much more.

Once you identify what you want people to think, your next step is to get this message across to your marketplace, through branding and marketing.

Now, I have an entire playlist on YouTube with around 20 videos on personal branding…

But today, you’ll get the videos I believe carry the most important, and of course you’re welcome to watch the rest and do further research.

How To Tell The Difference Between Marketing, Branding, and Sales

Most entrepreneurs I meet don’t know the difference between sales, marketing, and branding…

So it’s important you get clear on this first… >>

Because everything affects your personal brand.

From the way you walk, talk, how you deal with clients, your skills, your online presence etc.

This is why you must be very deliberate about your personal brand.

Because, if you leave it to chance, the likelihood is your brand and reputation won’t turn out exactly how you want it.

Your behavior must be consistent and congruent with what you want to be known for.

I am very intentional with the content I put out, which is why I’m known for certain things.

This video will help you define your personal brand so you can get clear on what you want to be known for >>

5 Key Elements of and Effective Personal Brand

To build an effective personal brand, you must have 5 key elements in place.

  1. Your back story
  2. What you stand for (beliefs and values)
  3. Your super powers (your skills and talents)
  4. Your parables (short stories)
  5. Your secret language

As you can see, each of these must be carefully thought out, which is why you can’t leave your personal brand to chance.

In this video you’ll get a broad overview on some of these elements… >>

And in just a moment, you’ll gain actionable steps you can take to help you get clear on and build some of these out.

How To Create Your Personal Brand Story

Like any good story, your brand story must have a compelling character.

Naturally you want your character to be relatable to your audience.

Imagine trying to sell a product or service that comes naturally to you.

You wouldn’t know the pains your market is going through.

Versus, if you’ve struggled your entire life with a certain health problem for example, and you tried countless products and none of them work…

Until one day you stumbled onto a very different and counter-intuitive product that completely changed your life.

Your audience can relate to that.

There are probably around 10 characters you could choose from, but in this video, you’ll get 3 to think about >>

How to Create Your Secret Language

Having a secret language is one of the most powerful things you can do for your personal brand.

Think of any group you’ve ever been a member of.

More than likely you had certain abbreviations or acronyms you used with the other members only you knew the meaning of.

You may also have had inside jokes only people inside the group would get.

That’s what I’m talking about.

I like to do what I call “Create your own technology”.

I used this method for my book F.U. Money…

And in this video you’ll get further tips on how to create your own secret language >>

How to Build Personal Brand Authority

No matter where you are in your career, if these strategies are new to you, you’ll need to make a few changes if you want your personal brand to be effective.

This means, you’ll need to build personal brand authority.

One of the most powerful ways of doing this is with your tagline.

When I first started out as a copywriter my tagline was “The Whiz Kid of Copywriting”.

I was young and I didn’t want it to hold me back, so I made it obvious and used it to my advantage.

If you look throughout history, you’ll see entrepreneurs, movie stars, musicians and more who used similar taglines after their name.

In this video, you’ll gain insight into how to create your own tagline, so your marketplace sees you as an authority and much more >> 

How to Grow Your Personal Brand and Business Through Specialization

As you’re in the coaching/consulting space and in a specific niche…

This helps you build and grow your personal brand, just by the fact you specialize in one thing.

It gives you the power of authority, so when you’re on a closing call, your prospect can see you’re the ideal person to work to solve their problem.

It always pays to niche down and serve a specific type of person.

Sometimes as a coach/consultant, you’ll solve a specific problem, but your target market can still be broad.

In this video, you’ll discover how profitable niching down can be and how to apply it to your business >>

In conclusion, it would pay you dividends to go through the 5 elements of an effective personal brand, and work one at a time.

This will give you a deliberate and powerful personal brand you can use to generate more revenue with higher profit margins.

Here’s the link to my entire personal branding playlist, if you’d like to study the content and apply it all to your business >>

To your success

Dan Lok

P.S. – Even if your personal brand is on point, you’ll find it difficult to sell your products and services without an irresistible offer.

That’s why we run High Ticket Mastery™, a 3-day business immersive where I show you how to create an irresistible high ticket offer… attract an abundance of high ticket leads on autopilot without ads… and sell your offer without feeling pushy or inauthentic even if you hate selling.

For the full scoop on January’s event click here >>

Your Story = Big Success?

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You won’t believe how many business owners don’t know this…

Your story is one of the most powerful tools in your arsenal to close clients into your high ticket products and services.

One of my good friends Ivan Nikkhoo, who spoke at the Dragon Summit™ last year shares this belief, and to kick off this newsletter…

I recommend you watch the first 4:17 of this video >>

As you’re watching you’ll soon see exactly why your story is so powerful, and it will set up the rest of the newsletter.

As you may have guessed, you’ll discover how to take your storytelling to the next level so you can close more sales and have a bigger impact.

Why You Ended Up In My Eco-System

It’s quite likely you know the following things about me:

  • I moved to Canada as a teen with my mom not knowing a word of English…
  • I was the invisible kid at school. I was shy and introverted and I got beat up often…
  • I got into business out of necessity because my Dad could no longer send us money after his business partner backstabbed him and he went bankrupt…
  • I failed at 13 businesses before having my first success…
  • I met my mentor Alan at an event and he taught me my first high income skill…

I could go on, but I think you get the point.

Whether it’s one or more of the points above or another part of my story…

On some level you can relate to it, and that’s why you choose to read my newsletter, invest in my products, or become a mentee or client.

If it’s been a while since you heard my story, or perhaps you’ve never heard it, click here >> 

 

5 Secrets To Brilliant Storytelling

Did you ever wonder why certain stories sticks in your mind?

Furthermore, do you remember the lesson those stories taught you?

As with anything, there’s a right way to do something and a wrong way, and storytelling is no different.

We’ve all heard someone tell a terrible story, and oddly enough, sometimes those are just as memorable.

Wouldn’t you agree?

So here are 5 secrets to tell a brilliant story.

 1. Set the stage

Every great story starts with something like “Once upon a time…” or “Back in 2003…”, or “Many years ago…”

This tiny detail sets the scene and gives the listener context on the story.

2. Be Specific

If you’re describing something, make sure you’re as detailed as possible.

This helps the listener create a picture in their mind.

They may picture you as a younger person, or the car you’re driving, or the house you lived in, etc.

This increases their investment in and engagement with the story..

3. Take Your Listener On An Emotional Journey

No doubt you’ve been through many struggles to get to the point where you’re now coaching or consulting people on their life and business.

When you tell your story, you want them to feel exactly what you experienced all those years ago.

4. Create Mystery In Your Story

If you want to hold peoples’ attention, create open loops in your story.

This forces them to want to keep listening, so they can close the loop in their mind.

This could be as simple as teasing some information and saying “I wanted to know what would happen if…”

The listener hears this and thinks, “I wonder what happened?”

So they keep listening.

You should constantly add mystery to your story and then release the tension by revealing what happened.

5. Relay The Moral Of The Story

Every story must have a purpose, and if you tell a story in a business setting, it’s to elicit some kind of action in your prospects, hopefully investing in your services.

How Tell A Story And Pitch Your Services

Steve Jobs is widely regarded as one of the best storytellers in business.

Over the years he’s used story to pitch the iPhone, iPod, iPad, and many other successful Apple products.

Jobs’ stories have literally changed the world and how we consume information and media.

So let me ask you a question…

Would you like to know Steve’s storytelling structure, so you can apply it to your business?

If so, in this video, the presenter breaks down every detail of Steve’s iPhone pitch >>

After applying this to your business, you’ll have a solid presentation that should help you convert prospects and impact many more lives.

Where To From Here?

If you plan on doing more presentations, whether they be live or virtually, you’ll want to brush up on your public speaking skills.

And as you may know I’ve been a professional speaker for many years now…

But it wasn’t always like that for me.

In fact, I was very shy and introverted when I first started, but I’m living proof that anyone can at least improve their speaking and delivery.

This is why I created a training called Public Speaking Secrets, so if you’d like my personal help improving your speaking, click here >>

Until next time,

Go high ticket,

Dan Lok

P.S. – Due to popular demand, we’ve decided to run another S.M.A.R.T Challenge™.

If you missed the last one, I highly recommend you attend if you want to bulletproof your business before the next recession.

When you join us, you’ll discover my favorite secrets and strategies that allowed me to sell over $100 million in my coaching business in just a few years…

As well as how to SCALE, SYSTEMISE, and SUSTAIN your business for years to come.

Click here for the full scoop here >>

Secret Currency Pays You Over And Over?

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You may have heard the line “attention is the new currency”…

Well, it’s very true.

You can’t expect anyone to pay you if they don’t first pay you attention.

And with so many coaches, consultants, and experts out there, you must have a way of winning attention, and converting that attention into sales.

So in this week’s newsletter, you’ll discover.

How to start and build a thriving community that supports each other and takes action on your offers.

When we ran our High Ticket Closer Certification™ as a business opportunity, we built an amazing community in our private Facebook group.

People loved being there, and although the intention of the group was more for student development than to make sales, the members were engaged and very supportive of each other.

We kicked anyone out who we deemed “bad apples” who didn’t follow our guidelines, but I digress.

Let’s start with…

5 Benefits Of Building A Thriving Community

This list is not exhaustive, but if you can build a thriving community, you’re automatically more in touch with your members.

You’ll gain valuable feedback to help make the community the best it can be.

You can create a safe place for your prospects to share their learnings and takeaways, where they feel understood and can relate to one another.

You can build amazing relationships with your prospects, which in turn creates high levels of loyalty and retention when they finally become clients.

The Difference Between an Audience and A Community

There are pros and cons of each of the above, and here are some of them.

With an audience your pros are your ability to reach more people.

People can share your content… and you can connect with people on platforms that they’re familiar with.

Some cons include, you could fall victim to algorithm changes, you’re competing for your audiences’ attention, and you have no control over the platform.

If you say something the platform doesn’t like, you could be removed forever.

With a community, you have people’s full attention, you can create a private space for your members free from ridicule from non-members, and you have a higher level of control of the platform.

Some cons may include, it’s more difficult to be discovered, your content is only sharable amongst your members, and your members may not spend much time on the platform, which can make things difficult for them.

Overall however, your community should be more about the people than the platform.

The Most Two Important Questions You Must Know The Answer To

Whether your community is free or paid, you must be able to answer these questions.

Why would anyone want to join your community, and why would they stay?

Your goal for your community should be to give immense value no one else in your niche is offering.

You’re creating a community people would pay to be a member of, even if it’s free.

Help them solve problems… level up in their life… share their wins, and many other things.

But don’t give them access to your best stuff.

If you help them level up, eventually they’ll run into more problems, and to solve those problems, they’ll need to invest in themselves at a higher level.

And who do you think they’ll want to help them? You, or someone they’re not familiar with?

The answer is obvious.

What Platforms Are Best For Your Community?

You wouldn’t be running this type of community, but gamers would prefer platforms like Twitch or Discord, because that’s where they spend most of their time.

You want the platform you choose to be as easy to access as possible for your community members.

Some popular choices are Facebook, Discord, Telegram, Slack, plus a host of others.

Initially we used Facebook for our S.M.A.R.T. Challenges, business events, and Dan on Demand etc…

But in recent years we’ve switched to Telegram.

Why?

Because the reach in Facebook groups isn’t what it used to be…

And most people use Telegram on their phone, which means they’re far more likely to see the messages and interact with the group.

So, do some research on the platform you think would be best for your members.

How To Grow Your Community

There are many ways to grow your community.

You can promote on your social platforms or podcasts to your current audience.

To ensure you get the best prospects inside your group, you may want them to hit certain criteria before they’re approved to enter, because you don’t want a community of tyre kickers.

You can set up paid ads to reach a wider audience, and you can also set up chatbots on your IG or FB pages to funnel people into your group.

There are many other ways to promote it, but these are just a few examples.

How to Never Run Out Of Content To Post

As you’re building a community around your products and services, you should already have a solid idea about who your ideal prospect is.

With that in mind, you want to think of as many things as possible that are important to them.

What are their goals and aspirations?

What are the common roadblocks, obstacles, and problems they’d like to avoid?

Then you want to brainstorm how your products and services help them either reach their goals or avoid common roadblocks.

Then you can pick one and create content around it and relate it back to your products and services every now and then so when they’re ready to achieve more, they know where to go.

You want a high value to pitch ratio, so 1 pitch for every 4 value posts is a good place to start.

That’s not to say your pitch posts won’t contain any value at all, you can mix the two together.

In closing…

Building a community is a great way of setting yourself aside from your competition and building trust, which translates into greater impact and of course more sales.

Until next time, go high ticket,

Dan Lok

P.S. – If you haven’t heard, our next S.M.A.R.T. Challenge™ starts soon.

You’re seriously running out of time if you want the business secrets and strategies responsible for over $100 million sales in just a few years.

So click here to secure your spot… >>

And I’ll show you how to apply these secrets to your business so you can SCALE, SYSTEMIZE, and SUSTAIN your business for years to come.

How High-Ticket Retention Invigorates Your Business

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The Ritz Carlton is famous for its incredible service. From high thread count sheets to high-end amenities, their brand stands for high-end luxury. What really makes it stand out, however, is the staff’s attention to detail. They go above and beyond to make sure their guests have a great experience, resulting in high-ticket retention.

Why does a customer choose to stay in a high-end hotel and not just any ol’ place? The answer, from a business standpoint, is value. By providing an exceptional level of service and value, high-ticket retention practices can keep your customers coming back time and time again.

So how do you go about implementing high-ticket retention practices?

Focus on Building Value

Customers who return again and again to their favorite luxury brands know one thing: these brands provide quality and value. There is a significant difference between a Prada purse and a high-end knockoff.

The same is true for high-ticket services and products. Customers must feel that they are getting a high-level product or service to keep them coming back. Having a quality guarantee in place can go a long way towards instilling customer loyalty and confidence.

Invest in Highly Knowledgeable and Conscientious Staff

The quality of your staff’s service will directly impact the level of high-ticket retention you can achieve. Investing in high-level customer service training and hiring high quality, knowledgeable staff is key to providing high-ticket retention services.

Your staff should be well informed on the products and services you offer, as well as your company’s values and mission. They should also be prepared to go above and beyond for customers to ensure their satisfaction.

Retention is all about creating meaningful relationships with high-value customers and providing them with the best possible service. A high-ticket customer should feel special and valued by your staff. Take the time to get to know your customers, understand their needs and preferences, and provide them with personalized service. Creating lasting relationships will ensure high-ticket retention and foster customer loyalty.

Create an Atmosphere of Provision

What is the first thing the staff does when you walk into a high-end store? They give you a bottle of water. This is the perfect example of the principle of reciprocity. When we are given something, even a small gesture such as a bottle of water, it creates an atmosphere of provision. This atmosphere signals to your customer that you are invested in them, which will encourage high-ticket retention. Some other ways to build rapport and create a high-end atmosphere of provision include providing high-level customer service, complimentary snacks or beverages, free Wi-Fi, and high-end amenities.

Final Thoughts

High-ticket retention is a powerful way for businesses to keep high-value customers coming back again and again.  When done correctly, it can help you boost revenue and keep customers loyal for the long term. By investing in high-quality staff, creating an atmosphere of provision, and offering high-level customer service and value, businesses can ensure high-ticket retention and an increased bottom line. With the right high-ticket retention strategy, you can invigorate your business and take it to new heights.

For more information on how to implement high-customer retention strategies, take a look at the High Ticket Mastery™ event so you can learn the top principles for providing your customers with the best quality service.

IMPORTANT.. About your marketing message

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WARNING! 

What you’re about to read COULD completely change your positioning in the marketplace…

So pay close attention…

Because this may have a profound effect on your bottom line.

I’ve asked my audience this many times, and EVERY time without fail, the answers vary.

“What’s the difference between a coach, a consultant, and a mentor?”

If your definition of these is incorrect or unclear…

Your positioning in the marketplace could be wrong…

And this could have a huge effect on your business and revenue.

So before we go any further, let’s clarify these definitions together.

In this short but powerful podcast episode, you’ll discover difference between a coach, consultant, and a mentor >> 

In short, a coach will motivate you, point out your blindspots, and help you achieve certain goals, think basketball coach.

A consultant may also help you achieve certain goals, but will implement their expertise and it for you, think marketing consultant.

You may want to get better at basketball, but when it comes to marketing, you just want someone to do it for you.

A mentor is someone who’s “been there and done that”.

They help their clients get similar results to what they’ve achieved and will save them time, heartache, and help them avoid mistakes before they make them.

How Should You Position Yourself In The Marketplace?

So now you know the difference between a coach, consultant, and mentor.

Let me ask you something…

Are you positioned in the marketplace correctly?

The reason why this is so important is that the way you position yourself changes your marketing message.

And it’s your marketing message that moves the needle in your business.

You want your positioning to be as unique as possible…

And marketing expert Todd Brown does a great job of explaining this here >>

So now you know why positioning is so important, next, you must know…

How To Position Yourself In The Marketplace And Stand Out From Your Competitors

In order to position your product or service correctly, you must first work out what your Unique Selling Proposition (USP) is.

This is a product/service-centric statement that sets you aside from your competitors.

After you have this, you’re in a good position to create your Positioning Strategy.

The following factors will help you create your Positioning Strategy:

  1. Product characteristics…
  2. Price…
  3. Quality or luxury…
  4. Product use or application…
  5. Competition…

This article will help you create your USP and your Positioning Strategy based on what we’ve discussed >>

It will also help you identify gaps and opportunities in your marketplace…

So I urge you to read it as it will help you take your business to a whole new level.

Why Your Personal Positioning Is Vital To Your Success

Now before we close this out, as you run a primarily service based business…

YOU are such a big part of your product.

So far we’ve talked about how to position your product or service, but YOUR positioning is just as important.

Here’s what I mean.

At the very least you should position yourself as an expert in your niche.

If you can, positioning yourself as a Celebrity Authority would be ideal.

Why is this so important?

Think of some celebrity authorities you know of…

Steve Jobs, Elon Musk, or Oprah Winfrey.

If you can create that kind of celebrity and authority in your niche, it attracts clients to you like a magnet.

In our space, we have people like Tony Robbins, and I myself am also a celebrity authority, although not at the same level as Tony.

So, in this video, you’ll discover how to position yourself as a celebrity authority in your niche >>


Because as people cannot see your service, they judge by what they can see.

Ultimately, it’s your reputation that precedes you and makes you money, and this is why it’s so important.

For a final video, I’d like to share with you external positioning secrets that attract high end buyers.

This will seem counter-intuitive, but in this video, I explain why the best people in anything are generally the poorest and what you want to do instead of being “the best” >>


So that’s about all I got for you today.

Although I could easily segue into personal branding, I think that will be a topic for another newsletter.

So, look out for that one, but until then…

Go high ticket,

Dan Lok

P.S. – If you’d like complete clarity on your offer so you know exactly what your USP and your Positioning Strategy is, we’re running a live event called High Ticket Mastery, in January.

At this event, you’ll discover exactly how to create an irresistible offer, how to attract an abundance of high ticket leads, and close those leads without being salesy, sleazy, pushy, or inauthentic.

Our last event was a huge success and everyone who attended received immense value and a “done list” of tasks they’d completed during the event.

So, click here for the full scoop and to secure your seat >>

I hope you enjoy reading this blog post.

Schedule an add a zero session™ with our team to see how you can use our time-tested strategies and systems to scale your business now.

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