In high ticket sales, you are more of a consultant, expert, or advisor. Educating and helping are not what most people usually think of when you bring up the word “sales”. In consultative selling, closers think of the sales process not as a transaction, but rather as problem-solving. They are professionals with real business acumen that personalize their deals to align with the needs of their customers.
Think about how technological innovations improve lives. For instance, you can save people’s lives (without becoming a doctor) by educating medical professionals about the latest technology as part of a medical company’s sales division.
Or how about selling and educating about the latest enterprise-grade cyber security software that improves the safety of a company’s digital assets?
There are certain types of high ticket sales industries that are more lucrative than most because of the innovative and ground-breaking value they add to a specific market.
High Ticket Sales Industries That Are Breaking New Ground
If you don’t have the know-how for selling within the saturated market of luxury vehicles, you can explore the less competitive space of a niche market.
But while working in a niche market will help you stand out, it also means that you will need more specialized skills to excel and take your performance to the next level.
If you’re selling in a relatively untouched industry, you have the advantage of being part of a blue ocean business. You’ll need to learn industry-specific vocabulary and deep understanding of how the products or services work if you are to succeed in this field.
For example, enterprise sales and biologics sales are just two types of lucrative fields with high paying sales positions. For the second, you may need to brush up on your medical vocabulary as well as your social media presence.
If tech and healthcare don’t interest you, there are many other industries that can get you to that six figure income goal.
Here is a list of some of the most well-paying, relatively untouched high ticket sales industries.
1. Technology and Software
As remote work increases in popularity, cybersecurity and SaaS increase in demand. I have a global team that works remotely, so quick communication, sharing of files, and security are of high importance.
Growth in technology and software is projected to increase “13 percent from 2016 to 2026, faster than the average for all occupations.” For big data and analytics software, they expect “the business intelligence and analytics market is expected to exceed 22 billion dollars” by 2020. Click To Tweet
Knowing this, can you imagine the role that salespeople in this industry have? Our need for their products already exists. Software is the core of any business. Can you imagine doing your job without the use of a computer? It’s hard to picture life without computers.
If you’re interested in a career in technology and software sales, here are some of the areas that have massive growth potential.
SaaS (software as a service) has become the trend as companies have more remote workers. The web-based software is being sold business to business (B2B) instead of to individuals.
- Just how lucrative are SaaS sales? In a 2017 report published by BetterCloud, “73% of IT professionals surveyed said that 80% of their organization’s business applications will be delivered as SaaS products by 2020. As of 2017, the SaaS industry generated $46 billion annually. That number is expected to grow to $76 billion by 2020 and continue growing at a rapid rate.”
Enterprise software sales (high-volume or high-dollar sales to business customers, often through long-term contractual relationships) can make the highest paid salespeople at some companies $250,000 to $350,000 a year. It’s even possible for some to make $1 million a year.
ERP (Enterprise Resource Planning software) like SAP or Oracle or S4 HANA can earn salespeople between $200,000 to $400,000 a year. Why is ERP important? It integrates inventory and order management, accounting, human resources, customer relationship management (CRM) into one system. Imagine how much hassle it will save your business.
CRM (Customer Relationship Management) software such as Salesforce is used to manage a company’s interactions with current and potential customers. It can make a sales rep between $250,000 to $750,000 in income.
Technical recruiters (people who hire for IT positions) can also make a high income, when you consider their base salary plus bonuses and commissions. For example, a senior technical recruiter for TEKSystems can make $163,000, and at Salesforce can make $134,000, and $100,000 at Amazon.
Cyber security sales reps stay up to date on the latest threats every day. Data protection is extremely important because of Artificial Intelligence (AI), Cloud security, Blockchain technology and cyber-espionage. Cyber security covers four areas: application and information security, and disaster and network recovery.IT Security related jobs pay $100,000 and cyber security related jobs can pay $200,000 or more. The average annual pay for cyber security sales is $104,000, with salaries as high as $186,000. Sales engineers can make $220,000.
Now, what if selling computer technology doesn’t interest you? What if you like to see more tangible results? Well, imagine handing orthopedic pins to an orthopedic surgeon so they can perform joint surgery for a patient.
It won’t happen exactly that way, but sales of medical devices will improve and change people’s lives. Here’s what’s surprising about this industry: millennials are excelling and “crushing it” at healthcare sales.
Remember all of those hours you spent on social media? Were you scolded for wasting your time reading Facebook posts and catching up on Instagram photos in your feed?
The good news is, the modern healthcare buyer (including doctors and surgeons) use mobile networks and social media platforms to research the product – and even the salesperson – before they buy.
So millennials understand the needs of modern healthcare buyers. They’re socially connected, can use multiple mobile devices, and have the savvy to access unlimited information from digital networks.
They also don’t want to work the traditional 9 to 5 job with little flexibility. In this industry, salespeople can set their own hours and work remotely. It’s perfect if you’re looking for a balance between work and mortgage and child responsibilities… and time for partying, video games, or whatever you consider fun.
So how lucrative is the healthcare industry? Consider the impact of some of these statistics on the marketplace: “The worldwide pharmaceutical market has grown from 390 billion dollars in 2001, to more than 1.1 trillion dollars in 2016.” Click To Tweet
And how much can you expect to make in healthcare sales?
Medreps says that the “average total compensation for medical sales reps is $149,544 — with an average base of $92,698 and an average bonus of $63,318.” With the base, the total yearly income is over $156,000.
There are different areas you can specialize in.
- Specialty Pharmaceutical Sales for Medical Devices
Medical devices include surgical lasers, wheelchairs, sutures, pacemakers, vascular grafts, intraocular lenses, and orthopedic pins. They also include diagnostic products such as pregnancy test kits, and magnetic resonance imaging (MRI).If you sell medical devices, your income can range from $180,000 to $600,000, depending on what you sell. Medical diagnostics are an easier sell than medical devices.
- Spine Hardware and Biologic Sales
Spine hardware (the materials used in the lumbar spine) and biologic sales (a broad range of common and rare diseases and include vaccines, cell and gene therapies, and tissues for transplants).
The average biotech base sales salary is over $109,000, and over $157,000 for the average total salary.
- Regenerative Medicine
Regenerative medicine includes tissue engineering and molecular biology. It involves the replacement, engineering, and regeneration of human cells, tissues or organs to “restore or establish normal function.”Regenerative medicine sales can make you an income of $118,000 to $270,000.
3. Financial Services And Account Management
What have you noticed about the way people do banking in the last 10 to 20 years? When I was growing up, people in my parents’ generation would line up to wait for a bank teller to deposit their paycheck. When you wanted to save or invest your money, you would see a financial advisor.
But nowadays, how often do you pay your bills at the bank? How often do you line up at the teller to withdraw some cash? Technology has changed the way we do banking.
Financial advisor jobs have decreased while the financial industry has doubled to make about “20 percent of GDP in most developed countries.” Click To Tweet These changes have resulted in the growth of Financial Tech (FinTech), including the increased popularity of Mobile/ Digital Payment solutions.
Think about the last time you rode the bus, or paid for your dinner at a restaurant. How did you pay? Did you tap a transit pass or swipe a credit card? The answer seems to depend on the transaction amount.
A study on credit and debit use reported that “Debit and credit cards were generally used for larger transactions, with the average debit and credit transaction being $46 and $67, respectively. For purchases between $10 and $24.99, debit cards were used 34 percent of the time.”
Debit and credit cards have an important role in our everyday transactions.
The FinTech industry is growing at a rapid rate. Just think about how often you hear terms like “mobile payments”, “online trading platforms”, “fraud prevention software”, and “blockchain technology” these days.
So how has all this financial technology affected sales jobs in financial services and account management?
Most top insurance sales agents make at least $100,000 a year. Life insurance is known as an easy field to enter, but only about 12 to 14% stay in the business. But for those who stay for the long term, it’s a recession-proof career with fewer hours than real estate, on average.
Private Equity Investment
“The very term continues to evoke admiration, envy, and—in the hearts of many public company CEOs—fear,” according to Harvard Business Review. So what is private equity? In two words, it means “investment funds”, and it’s “generally organized as limited partnerships, that buy and restructure companies that are not publicly traded.”
- How much money is in private equity investments? Dealogic, a firm that tracks acquisitions, says, “The global value of private equity buyouts bigger than $1 billion grew from $28 billion in 2000 to $502 billion in 2006.”
Payroll/HCM Software (Human Capital Management Software for maintaining a workforce) This software is vital to any business, but one challenge with this field is that you aren’t necessarily selling to the decision maker. You have to sell to HR, and then HR sells to someone else.
Account Management at Advertising Agencies
The accounting software industry alone is expected to grow to 4 billion dollars by 2021. If you want to be a part of this growth, the salary will make you a high income. In the tech industry, you can expect to make over $150,000.
What makes sales jobs in the construction, trucking, and aerospace industries so highly paid? Consider the last time you were faced with a difficult task, like putting up a security system, or setting up your own heating and ventilation system.
Did you do the task yourself, or did you hire someone to do it?
Sometimes, you might hire someone with the expertise to do something because you don’t want to make a mistake. You want to leave the job to the experts. Other times, you might hire someone else just because you would rather be doing something else.
For example, changing a lightbulb is not a difficult task, but I wouldn’t want to do it. First, I don’t know how to change a lightbulb. Second, my time is better spent on other tasks so I have never bothered to learn.
So if home improvement isn’t your skill set, but the subject interests you, then you could consider construction sales.
- HVAC (Heating Ventilation Air Conditioning) has a small but growing market for online sales. People like the convenience of buying their equipment online but there is also the cost of labor for installation. Most homeowners aren’t familiar with how to install the equipment, so contractors want to sell to homeowners directly. This way, they can combine the equipment sales with the price of installation as well as negotiate costs.
The Bureau of Labour Statistics predicts the “Employment of heating, air conditioning, and refrigeration mechanics and installers is projected to grow 15 percent from 2016 to 2026, much faster than the average for all occupations.” Click To Tweet The median HVAC sales salary is $95,000, but experienced salespeople make $161,500 a year.
- Rooftop Solar Industry
If you’re a big fan of taking care of the environment, or if you like safe and noiseless power generation for a price that’s reducing over time, then you may consider installing solar panels on your rooftop.A solar sales representative can make an average of $82,00 a year, while more experienced salespeople can make $188,500 a year.
- Software and Hardware Solutions For Aerospace and Defense
The aerospace and defense (A&D) industry is growing. According to Deloitte, there has been an increase in passenger travel and military expenditure. They predict “38,000 aircraft expected to be produced globally over the next 20 years.”
How has that impacted sales jobs? As an aerospace sales manager, you can expect to make an average of $62,644 annually. But you can make a salary as high as $125,500.
- Semi-Truck Fleets and Complex Fleet Management Systems
Technology in the trucking industry has been improving. For example, dynamic routing helps drivers find faster routes. Forward-looking camera systems protect the fleet and driver in case of collisions and false insurance claims.If you’re interested in a career in the trucking industry, there are high paying sales jobs that you can apply for. Several jobs advertised for fleet management systems sales are for incomes from $60,000 to $100,000 a year.
- Sales Engineering for the Industrial Automation Industry
Industrial automation affects many industries: aerospace, automotive, pharmaceutical, mining, food and beverage, and more. According to Zion Market research, the global automation market will reach $321.93 billion by 2024.If you want to be a part of that growth, a job a as a sales engineer comes with a rewarding salary. A sales engineer can make $126,000 a year.
5. Real Estate
Think about how much technology has improved the comfort of your home. With one button you can switch up the mood with changes in lighting and music. I have a room dedicated to karaoke: sound system, sound proof walls, a music selection, mics, and comfortable chairs for friends and family.
Real estate technology has also improved how real estate agents do business. Lead generation software gives them more eyeballs on their listings. A CRM can track emails and follow up calls with clients. Key copying apps eliminate the awkward problem of having a prospective buyer while they can’t locate the homeowner.
Home security is also a booming business as more people are encouraged to invest in home security.
Remember the last time the insurance company asked if you have some kind of security system at your home? If you answered yes, you got a discount. Do you have an account with a telecom company like Verizon or AT&T? They will provide you with security solutions also.
The current trend suggests that “The global security market is slated to surpass $100 billion by 2020. Home security systems will account for an estimated $47 billion of the total security market.” Click To Tweet
If real estate tech or home security interest you, there are lucrative sales jobs to pursue.
- Real Estate Software
Jobs in real estate software sales can earn you six figures. A software product manager job in California, for example, pays between $80,000 or $100,000. Another job on Indeed pays $120,000 for the CTO for sales and technology of a real estate company.
- Home Security Systems
Sales representatives for home security can earn from a national average of $62,000 to $119,500 if they have a lot of experience.
If you could help another person and make a good income while doing that, would you? High ticket sales requires mastery of a high income skill, a skill that can be transferred to many industries. And you can make $10,000 or more a month.
High ticket sales is trending in technology and software. Think about how much cyber security, SaaS, and IT has impacted your life. Unless you live in a remote corner of the world, the necessity of technology in our lives will only continue to increase.
Healthcare sales will continue to thrive as long as people continue to age and require disease prevention or care. Pharmaceutical, regenerative medicine, and medical devices sales are all booming. Digital media has changed how sales are made in this industry, but those who are social media savvy will have little trouble adapting.
Financial services and accounting software are also lucrative markets. Just think about how your payment is processed, from how your employer calculates the amount you are owed, to how you receive your paycheck. How many types of software were involved in the process?
The global automation industry will be in the billions in a very short time. The construction, aerospace, and trucking industries continue to experience technological improvements that mean higher incomes for those pursuing high ticket sales.
These changes aren’t just happening at work. Wouldn’t you like to take advantage of technological improvements to your home? Realtors have technology that improves their ability to market properties and home owners have better security.
Most high-level sales and account management positions don’t require formal higher education, but you will need to master the advanced science of closing high-ticket deals to get these opportunities. This is where I specialize in. To implement this into your professional growth plan, watch this video to learn more.