The value ladder is a sales tactic that can greatly increase your business with high-value sales. It is used to gain the trust of new clients, while effectively nurturing existing ones. When it comes to making sales, getting the first sale is always harder than getting the second. It takes time and money to market yourself and make the first sale, but when you do, you can move your client up the value ladder to high-priced offers.
Essentially, a value ladder is a series of steps for the overall experience of a customer in your sales stream. Picture an actual ladder, and at the bottom, or first step, will be your lowest priced service or product. This is essential for gaining the business of new clients who are unaware of your value. How do you make that first sale? Well there are a variety of marketing strategies, such as email marketing, pitches, social media, and funnel sites. You need to be ensuring your potential customer that you are the solution to the problem, and your product is going to give them value. You could even offer a free product or subscription to get them into your pipeline.
After the first sale is made, it is time to gain the trust of your customer and meet all of their expectations. Follow-ups are a great way to do this, as well as requesting feedback. Once you follow through with your promises, you have gained their trust and it is time to move them up your ladder with higher priced products and/or services. While they might be higher prices, you ensure your customer that they are also getting something more valuable. As previously stated, it is always far easier to make a second sale than the first.
The overall goal of the value ladder is to nurture and continue to sell to your customer until they reach the top and final step: your highest-value offer. Never underestimate the money that your customers are willing to spend. You need to constantly be convincing them why they should spend it with you compared to your competition. Once they purchase your high-value offer, you need to deliver a product that will transform their life for the better. It should wow them and meet all of their expectations.
After your customer has reached the top step of your value ladder, you have completely gained their trust and built a solid and positive relationship. Use this to your advantage by getting referrals to other potential customers. After you meet your client’s expectations they are sure to recommend you to others who are in need of your products and/or services.
All in all, the value ladder is a process of gaining trust and increasing sales. It is a technique that should be implemented in every business. It increases growth, sales, and customer relationships. Put in the preparation and planning to make sure that you know exactly what products and services to incorporate along with their prices and values.
If you like this article, make sure to check out the blog at EMRG Media for more sales and marketing strategies.