The first thought that comes to mind for many SaaS brands when they think about transforming into a high-ticket service-based company is:
– Raising Your Prices
– Rebranding to have a minimalistic theme
That’s it.
But here’s the thing – stepping into the high-ticket market goes WAY BEYOND that.
In this blog, I will be breaking down the exact steps we took to turn a B2B Service Based Business Into A High Ticket Company in 4 Months, and this will give you insight into what YOUR company needs to do.
Let me tell you a client story; for the confidentiality binding, let’s call him Wester. He runs a 6-figure Service-based company focussed on the B2B Segment. His goals were simple.
He wants to:
- Transform his Services to High Ticket Segment
- Amplify his Profits (Not Revenue, Profits)
Now, when he came to us with this intention, we asked him two things:
- Why do you want to do this?
- What is your Vision for your Company?
Wester didn’t have much clarity, but the answer he gave was:
“I offer my clients Premium Service. They certainly get what they want, and my churn rate is lower. So I am sure about my Service. But when it comes to positioning my product and actually making more money out of it, I have been less focused since my priorities earlier were to get enough clients that I never wanted to go for external Funding.
Right now, my company is cash-positive; we are operating with a 30% Margin over my overheads and are self-sustaining with a great reputation. But now, this isn’t enough for me, and I wanted more. I want to work with SELECT clients and be able to have a better cash flow without going with Volume. ”
This answer told us what is end goal was:
- To Work with Select Clients
- Operating on a Higher Margin
Knowing this end goal is essential in the process of moving into the high-ticket industry because, without a clear intent, we will just be chasing the tail.
Stepping Into The High-Ticket Industry
“Growing 10x can mean you enhance your profitability multifold without increasing the revenue. Or, first, improve your profitability and then amplify the revenue, which can give you a multitude of returns. ”
I’ve said this before, and I’ll say it again:
High Ticket isn’t about Doubling your pricing and calling it a Premium. High-Ticket is about creating a deep connection with your audience, understanding what they truly value, the problems they need to solve and what they’re willing to pay for this solution.
It’s about the depth of your Business implementation concepts based on which you provide them the solutions. It’s about the clarity in execution.
And that’s how you give a prospect a High-quality service for a worthy price they won’t regret paying.
And in most cases, High Ticket doesn’t necessarily have to be with your existing audience. Though in some cases it co-exists, in many cases, we help prospects identify new customer markets that are more accommodating to the pricing and high-quality deliverables.
And for Wester, it’s case 2.
His existing audience wasn’t looking for a Premium, and they wanted everything as it is as it gives them better pricing.
So we decided to rebrand and move out of the Market so that he can keep his existing service line for now until we get him more clients to sign up with.
So, here’s what we did before structuring the customer journey Map:
The Foundations of Stepping into High Ticket Industry:
Before starting to work, performing a Market Study is Highly Crucial. It helps us to identify the open markets and the strengths and weaknesses of our prospects while also dwelling deeper into how many ‘options’ our prospects might see on average and how strong our positioning is. This helps us estimate our position in the market and take the implementation from there.
Now, let me take you through the process:
We did a comprehensive market study about the competitors who already charge high tickets and the audience they have that is happy to pay and experience the richness. Since it’s a B2B service-based business, we wanted to ensure no stone was left unturned. The more you nail the foundations in the beginning, the faster you can grow in your segment!
After doing a comprehensive market study, we worked out his customer persona using my signature 9-step customer persona Framework that I developed after working with over 45 clients in the B2B Industry. The final audience derived from this framework gives us a clear idea of different segments of our customer persona so that we can focus on those with higher profitability and the right set of clients with whom we have higher alignment.
After this, we created a personality mapping for the companies we wanted to work with depending on:
- Service Delivery
- First Impression
- Reason to Sign up with the Provider
- Expectations in terms of Experience
- Bottlenecks or the Problems they are focussed on Solving
- Probable Pain Points
Once we have this, there is no way of going wrong with what type of clients to work with, as we clearly know which clients to pitch.
When we had a clear idea, we decided to give the brand a total rebranding & varied Packaging. By now, you know how rebranding goes long beyond just logo transitioning and colour changes. We changed the brand messaging,
- We gathered Wester’s Vision for the next five years. He started out with not having a solid vision. Still, we created an intricate questionnaire with which we interviewed him to get his ideas, thoughts, and ambitions from varied walks of life and gather his subconscious vision for the company.
Your Business is an extension of Yourself. So, if you are sceptical of where you want to see your Business, think about where you want to see yourself.
- Based on his Vision, we created his Brand Communication Guide (A detailed guidebook about how his brand should be perceived, how we want prospects to think, what the first Impression the brand should create, etc.), and we worked closely with his team and remodelled his Business. Once we did it, we ensured the Premiumness of every ounce of material put out. It no longer looked like just a service provider. It looked like a service provider who knew exactly what it takes to get the transformation while creating a sought-after image of an experienced professional in the industry.
- We repackaged his services so that he wouldn’t need additional overheads but could give his customers a better premium experience. Things like Onboarding within 24 hours, A clear starter package (Detailed Onboarding Kit) that helps the customer Move in with ease, a clear timeline, and an informed delivery system that tells your customer when to expect and what to expect without making them overthink every next step and finally giving them proper guidance on the journey forward.
- Once we had all of these defined, the last in line was the Proposal. This had to reflect the quality and quantity of service as well. We created a Compelling Offer Proposal that focussed on Value and had a well-defined customer centricity (More on this in another blog)
So, with all of these and a few other miscellaneous updates, Wester’s Brand is now a High Ticket Service Business.
Yaay!! Win. Right?
Yessss! But we are not done here.
Here is where, with our identified customer persona and a clear reference of goals, Mission and audience, we set up an organic Sales Funnel that starts generating leads by pitching to atleast 50 prospects per day.
Our Content Engine starts working to give Wester’s brand a magnetic makeover, ensuring his ideal clients start discovering him, engaging, connecting and getting interested in what he has to offer.
After working on this unified gameplan, we are now 48 days, though, and Wester didn’t just get a pipeline of 37 leads but also has two clients looking to sign up with him anytime soon.
Outcome?
A high-ticket B2B Business, enriched pipeline and a good traffic source to fuel the cash flow for the next few years. Wester doesn’t just have a pipeline of leads now. He is more excited about scaling from here and taking his business to the next league. He is now expanding his services and also looking to make his offering more lean so that he can service a higher paradigm of clients and increase his profitability.
Now, are you Interested in making this transformation your own?
Hi, I am Saranya Narayana Moorthy, a High Ticket Sales Consultant helping B2B Companies scale into High Ticket Segment and generate leads on autopilot. Over the last few years, I have worked with over 190 Businesses and helped companies scale beyond 7x ROI.
You know how much B2B Business Owners struggle with lack of ONE Proven System to generate leads and most importantly CLOSE deals?.
I help them with exactly that.
With my proprietary system HT-SaS, High Ticket Sales Advancement System, I help B2B Business Owners, transition into the High Ticket Segment and setup profitable Sales Funnel system that Generates leads with high intent and nurtures them to conversion without spending more than 60 mins a day and without hiring a sales team.
Drop me an email on saranya.n@lyan.digital or reach out to me via Social Profiles and let’s discuss!
In the meantime, Stay Tuned and Keep Following my LinkedIn, Medium and Instagram for more Value based B2B Content!
Follow us :
LinkedIn Medium Instagram
