Network Marketers Selling High TicketMay 25, 2021
The industry is shifting and the network marketers are moving into selling high ticket products. In my opinion, a high ticket in my industry is something over $1,000 in the network marketing industry, I would probably put that threshold just a little bit lower just because of the industry.
Beachbody is moving into partnering with mix the exercise bike so there is an opportunity for Beachbody coaches to be selling that bike and get a commission for it. We don't have any information about the price amount, at least at the time of this recording. However, commission structure aside from what the coaches or the distributors are going to be taking home for high ticket products. This is something that's really interesting that I think is going to shake up the industry and also shake up how the industry is approaching sales.
When we look at most network marketing products and packages, I would say on average, most are going to range between a 103 $100 ticket or total cart price, per sale. And now with something like this exercise bike, we're going from a 100 to $300 average ticket to an approximately we don't know for sure yet, but I'm going to ballpark it at around 1500 to $2,000 ticket.
I've been involved in the network marketing space for 10 years. In about 2012 Beachbody, in particular, came out. This was the DVD time back in the DVD days, p90x too, they had a Blu-ray version. Now Blu-rays were always very expensive. And my husband got the package of p90x in blu ray with all the bells and whistles. But that package in itself was around the 400 to $500 range. And that was the only program, if memory serves me correctly, that was ever done on Blu-ray. And I don't know if it was just we were already at that time period of starting to shift more to digital or the fact that people just weren't ready to spend the money on blu rays, or at the time, people just weren't ready to spend that kind of money. However, a company would not be moving into the high ticket space if they were not confident that the products would sell.
What’s the problem with selling high tickets?
With that being said, looking at this opportunity that exists for the network marketing space and shifting into the distributors and the coaches to be able to sell high ticket products, this is where I think a problem is going to arise and that is old school tactics of selling and inviting. We already know they really don't work and if they do, it's just a lucky chance. But getting someone who's a cold lead to spend 100 to $300 versus a cold lead spending 1500 to $2,000 that's not quite likely to happen.
So many people in the network marketing space tell me they have all of this fear, doubt, and this lack of confidence surrounding selling someone with something that ranges from 100 to $300. And now this fall, we're getting ready to introduce a 1500 to $2,000 product. If you're lacking confidence in selling something that's $150, how are we going to confidently sell something that's $2,000? This is where, as business owners, and as network marketers, I'm really urging you to start preparing your business now, because we don't know the final numbers, we don't know the full commission amount, we don't know the rules, and the structure. So we're just going strictly based on assumption, track record, and speculation.
How can we prepare our business, our authority, our confidence, our mindset, and everything else in between, to make sure that our business can support selling a $2,000 product?
If you are not preparing your business, your social media presence, and preparing your marketing efforts, right this minute, for September, you're going to feel like a brand new baby who's learning to walk feeling uncomfortable and awkward. It’s going to lead you to burnout because you're literally going to be trying to do three months' worth of work in a week. And that's why a lot of people end up quitting because it's no longer fun, and they're not excited about it.
As a team leader, you need to set the stage for preparing your business. Preparing your business so that your leaders can see what you're doing. If you start preparing, your team starts preparing. Whether you have a team right now or not, if you plan to have a team down the road, the sooner you start the preparation process, the better.
How can we start to prepare our businesses to be ready to sell something that is a high ticket to our audiences?
How can you develop trust with your audience?
They need to know that you are going to be here a year from now so you need to be consistent with your social media presence because if not, that tells your audience that you are unsure.
Have you ever been to a restaurant or a store where every time you went, it was a different experience, sometimes it was really good, sometimes it was straight trash. You're going to be a lot less likely despite the good times to go back to that establishment. Because we are human beings looking for stability and comfort. So, if you are expecting someone to invest a high ticket in you, they have to believe that you're going to be there a year from now. And again,
just because you're not getting that full high ticket amount, that's still what your customer is spending. So you need to treat your business with the same respect thinking about what their total dollar spent is, regardless of what your cut is in this industry. Start right now with consistency in your social media presence.
The second piece aside from trust is they need to believe beyond the shadow of a doubt that you're the person that's going to help them get what they want. People are not going to invest a high ticket in someone who they don't believe is the right person to help them to get where they want to be.
How can you start doing that right now?
Start creating content speaking only to that person. If you want to think about your audience right now, who is going to be the subset of your audience in September who is going to spend $1500 on a bike? So start to think like a marketer, and how can you speak to that person and show that they should be investing in you, rather than going to a competitor.
Also, you need to be cultivating a community right now, if you haven't already.
When I created the South behavioral movement, right, and the Stop the Hey girl community, I started to think about what this community is for. I started thinking like, this was for the underdogs, this community is for the person that's been sitting at a rank for a really, really long time. They've done everything that their upline and corporate has told them to do, but they're still not moving anywhere. They feel like no one else in the world can possibly understand what they're going through, and they know there's a better way out there to build a business, they just haven't found it yet. That's who it's for! it's for the person that no matter what rank they are, what company they're with, what they look like, what their background is, they could have a place where they feel safe to discuss what's going on in their business and get the support that they need to build a business their way.
Start to think about your community. You can think of your community as a club, or a movement, or a way to just bring people together with common feelings and a common goal.
Here’s what needs to stop happening for your business so that you are ready to sell high tickets.
- Stop making your content all about you and what you've done. What you've done does not mean that you're qualified to help me do it. You want to start talking about all the things that you've helped other people do. And it doesn't have to be outlandish things. It can be very tiny things. But when you share about how you've improved other people's lives, that builds authority, and it builds trust, which therefore instills more confidence in yourself.
- Create original content that is rooted in your language and brings people back to your community. This is why when I see those goofy trends on Instagram about posting other people's content, yeah, it might get more likes and comments. But is building your business? Is it putting money in your bank account? No, it's not. It's not creating recognition for your brand. So when you are sharing quotes, use one of your own quotes, one of your own sayings, something that you feel, because that builds recognition for your brand recognition for your community, and also is starting to expand your impact, you're expanding your cold market. So when you are looking at ways to really get content going to show that you are an authority, don't just copy other people's stuff. Create your own, because your voice and your message are just as important as Gary Vee. But if you're not showcasing it like it is that important, your audience will not believe that you believe that you're that good. And if you don't believe you're good at what you do, why should your potential customer believe that you're good at what you do.
- Make sure that you are not just focusing on trends for the sake of doing the trend. I get that real trends and real challenges are really, really flashy. But rather than just doing a trend for the sake of a trend, if you are intending to do it as a business building activity, you want to make sure that you have intentional content, that's going to take your audience down to the know-like-trust customer journey inside of your reels. Metrics are fun. But again, they're not putting money in your pocket.
No matter what company you're with, no matter what product it is, we're going to be able to focus on sales to be able to get you to a place where selling is fun. Selling is simple and most importantly, selling is an empowered decision for you and for your customer. I will see you on next week's episode of the podcast.