How To Build A Value Ladder That Brings In Sales EasilyAug 16, 2021
HOW TO BUILD A VALUE LADDER THAT BRINGS IN SALES EASILY
Today we're going to be talking about creating a high-converting value ladder. We've touched on this before in a couple of episodes, but I really wanted to dive deep into it because time is flying by. Chances are, you want to look at your value ladder and figure out if it is congruent with where you want to go moving into 2022. It’s coming soon, and we want to make sure that things feel good, smooth, and in alignment.
I don't know about you, but the last year for me has been about pretty much burning everything to the ground and rebuilding. I've wanted to make a very different structure of how I progress people through my customer journey. If you're in a similar spot, feeling a little stagnant, or you know what things just aren't really making sense, this might be a really helpful episode for you - or even for a friend, so feel free to share it if you have a biz bestie who you think can benefit from this wisdom.
We will discuss:
- The value ladder as a customer journey
- Freebies and low-ticket offers
- Medium offers
- High-ticket offers
- How to simplify your business model
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THE VALUE LADDER AS A CUSTOMER JOURNEY
In my estimation, a value ladder is the journey you take your ideal client on. You take them through different levels of being a freebie owner or a subscriber all the way up to a paid client. That can be low-ticket, medium, high-ticket, whatever your specific journey is. The value ladder works for everyone. You just need to be sure to customize it to your business specifically.
The reason why I struggled with this is because I had so many different courses, memberships, and offers that were kind of all over the map. I couldn’t really write them out from A to Z in one solid line. You may have a business that’s a little different. We had Chelsie Kenyon on a few episodes ago, and she said that wasn’t the way her business works. She compared it to a buffet table instead. If that’s true for you too, that’s totally fine.
For me, I wanted someone to come into Visibility Vixen and go right up the rungs of the ladder in a way that made sense.
FREEBIES AND LOW-TICKET OFFERS
If you're going to offer something free, the first thing that I recommend is that you don't have too many freebies. A lot of freebies worked five years ago, it really did. But now it can be a little bit confusing, and it can actually turn someone off from buying from you. There are some people out there, like Katya Varbanova talked about in an episode a few weeks ago, where she doesn't have freebies anymore. Her ladder starts at her low-ticket offer, and you can do that too. Wherever you want to start someone, be sure that you put enough attention into it so you can really help them understand the immediate value of becoming a customer.
My two main freebies right now are the color quiz and the color class. Both of those are pretty clear as far as what they do. They are designed to take people into my color course, which is my lower cost offer. You can imagine once someone opts in and takes the quiz, they can be upsold into the course.
You want to be sure to put effort into making your opt-in page more like a sales page. We teach this in the Visibility Lounge – making sure the thank you page immediately tries to persuade them to become a customer, making sure the email sequence is story-based, getting them to open those emails, so they will become customers down the line. That is the lowest tier of our value ladder, and we need to pay it the attention that it deserves.
This rung on the ladder allows people to invest a bit more with you. Maybe they have the opportunity to buy it at a discount. For me it's the Podcast Pitch Kit, at $37.
A lot of people ask what the price ranges should be for these offers, and I always suggest writing out your value ladder. If your highest offering is $100, then your lowest offering is probably going to be between $7-$27. If your highest offering is $1000-2000, then you may want to up the price of the low-cost offer. That ensures that people that are buying in have a little more money to spend.
When it comes to your low-cost offer, you’re trying to get volume. Then they can funnel to the medium or high-ticket offer. A good example of this would be a one-on-one coach. They want to increase their prices for one-on-one work, so they create a course as their medium offer. The course encapsulates some of their wisdom, and it’s less maintenance. The goal is to get people from subscriber to low-cost offer to medium, which in this case is the course. It can be a course, a membership, templates, meditations, or whatever makes sense for your business. The goal is to have something to fill that tier of the ascension journey.
Let’s say your highest offer is $500, maybe your low-ticket offer would be $9 and then your course would be somewhere in the middle, like $197. If you charge something like $5000 for your one-on-one, then you will probably want your course to be something like $597-$999. These are just rough estimates – you need to make that final decision.
Okay, so we've gone over your freebie, your low-ticket offer your medium offer. Now we're at the high-ticket offer. So this is usually more of an escalation of services. It can be done-for-you, coaching, a mastermind program – it’s the “big kahuna” in your value ladder. This is what you’re really hoping to get people into. It’s going to be less volume, but it will be more predictable income if you are putting consistent effort into your visibility plan.
In my case, we go from free opt-in to the Visibility Lounge program. From there, the higher-ticket option would be a Lounge VIP where Visibility Lounge members can add a one-on-one coaching package with ongoing Voxer access and one call per month with me.
SIMPLIFY YOUR BUSINESS MODEL
You can create whatever you want, just be sure to sit down and write it out. If you can’t draw a value ladder with an ascending arrow, then you may want to look at things again and figure out how you can simplify things. The beauty of creating your business model in this fashion is that you only have to focus on getting traffic to your opt-ins. With email sequences and sales pages already created, the rest of the ladder kind of “auto populates”.
I’m not going to go too much more in-depth today, because I know that it can feel really confusing. What I will say is that you need to sit down and hash out your different automations, in terms of the different things you’ll need to tag and create for email sequences. If you’re curious about the system I use, you can check out Kajabi on my Tools page. You’ll find my walkthrough of Kajabi, and if you want to try it out you can use my link (you’ll get a free course if you do). Whatever you use, though, it’s important to have that all linked up so you can be “hands-free” with your business most of the time.
So get out there, get your value ladder completed, and let me know how it goes. If you have questions or want to show me your value ladder, screenshot the episode, tag me on Instagram stories, and we can chat. That's what I'm here for, right? You can also join the free Facebook group, The Visible Entrepreneur. And if you're going, no, I just want in-depth coaching on this, then join the Visibility Lounge program that will break it down for you step by step.
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