What is high ticket digital marketing? And how to market high ticket items.
It’s simple, it’s all about price.
High ticket products and services are expensive. They’re not the kind of purchases you make on a whim. People tend to shop around, do research, and educate themselves on high ticket items before pulling the trigger and making the purchase. As a result, it’s more challenging selling a high ticket item, but there are marketing techniques which can be used to sell them better.
Here are a few examples of high ticket items:
- Car
- Vacation
- Property
- Cosmetic Surgery
- Luxury furniture
- Renovations
These are items that people generally don’t buy impulsively after seeing an ad about it on Facebook. There’s more intent behind the customer’s motivation to purchase.
Here are a few digital marketing techniques which can be used to market high ticket items:
Retargeting
As mentioned before, customers looking to make a high ticket purchase tend to shop around and educate themselves on the product or service. This means that it will take more touch-points in order to make a sale, and likely more than one visit to your website. This is where retargeting comes in.
If you’re running online ads for high ticket items, it would be wise to retarget those ads to people who recently visited your website, especially the ones who visited your website through engaging with your ads.
Customers of high ticket items will often browse several businesses before deciding to make their purchase, because after all, it’s not just a few dollars that they’re spending. You want to make sure that your ads are being shown to these prospects, and for how long depends on the time length it takes for your customer to go from Research to Purchase. People buying property will often be in the market a lot longer than people searching for renovations. Use your customer data to determine how long the typical customer journey is to determine the length of your retargeting campaigns.
Increase Touch Points
Every time a prospect sees your ad, it’s a touch point. Every time they read your content, it’s a touch point. Every time they open your newsletter, it’s a touch point. Low ticket items will often be purchased with just 1-2 touch points, but high ticket items often require more.
There are several ways you can increase touch points with prospects. Educate your audience with content marketing through social media posts, blogs and videos. Collect emails and start a newsletter, and re-purpose that educational content. Run promotions that drive engagement. Follow-up with past leads. Run retargeting campaigns. The idea is to increase engagement with your prospects, increase trust, and remind them that you exist.
Up-Selling and Cross-Selling
Ok, so through all your new marketing efforts you’ve finally increased sales. Now before you go looking for new customers, let’s see if you can provide more to your current customers. It’s easy to get into the habit of looking for new customers, but it’s extremely important to slow down and see if you can offer anything more to your existing customers.
The hard part is already done — they’re already your customer. You already developed a level of trust. It’s very easy to send them an email or call them up and ask if they would be interested in something more. Up-selling and cross-selling are often under-utilized because businesses get tunnel-vision in looking for new clients, when they overlook the potential of their current clients.
High Quality Branding and Packaging
When you shop at Tiffany’s (the luxury jeweller) to buy your wife an anniversary gift, they don’t just throw it in a plastic bag and mail it to you. No, every purchase made at Tiffany’s famously comes delivered in a stylist, little blue box. Quality is important, no doubt, but packaging makes a difference.
Think of brands like Apple, Rolex, BMW, William Sonoma. Customers know they’re getting quality with these brands before the purchase is even made. Their branding is exceptional; it evokes a sense of quality and luxury. These brands don’t attract ‘tire-kickers’ and bargain hunters, because their brand has already set the tone that quality is their selling-point and it comes at a cost.
So, there you have it – these are just a few techniques to keep in mind when you market high ticket items. Maximize repeated engagement, maximize the use of your current customer base, and brand your business in a way that evokes a sense of quality and luxury. For more ideas on how to increase traffic to your website, check out our blog on 10 ways to increase web traffic.