The question of today is: What is a Value Ladder? Simply put, a value ladder is a series, or range of products that ascend in price from the lowest (or free) offer to your highest priced premium or high-ticket product. As the customer ascends through every stage of your value ladder, the value of your product(s) and/or service(s) increase as well as the value to your customer…
Let’s look at the structure or staging of a value ladder and how it can be best implemented in your business:
- Prior to creating the steps within your value ladder, you must understand that the first offer is usually priced at $0 and is primarily used as a “lead magnet” and it should not be a consultation or sales meeting
- The next offer should pretty much cover the cost of the initial free offer as well as itself. For example, if the free offer costs your business $10 and the first offer costs $30, then the sales price should be $40. Basically, all you’ve done is break even, but you’ve provided valuable products to your customer that they may not be able to get anywhere else!
- Each and ever offer subsequent to the 2 offers should provide your business with profit because they should gradually increase in margins while adding yet more value!
Take a look at the example value ladder below based on a Personal Trainer business:
-Free training session with the personal trainer
-Paid training plan
-Paid meal plan including nutritional education
-Recurring paid training sessions
-Annual training sessions (discounted)
-Fitness training retreat (at an exclusive location)
A carefully planned and well-structured value ladder has the potential to exponentially transform your business if it’s implemented properly!
The initial offer (usually free) will drive more leads into your sales process, build the size of your email list and create more brand awareness for your business.
So, as you can see, by implementing a value ladder in your business can dramatically increase the number of sales while at the same time, provide more value to your customers. Any business that doesn’t implement a value ladder in their business will truly be missing out on many potential sales.
Some business owners may not even know about the value ladder concept because they may not have invested in themselves or their business, but if you have partnered with the right platform such as Legendary Marketer, you will learn all about the value ladder concept and all other aspects of managing and growing your business!
If you would like to know more about how to implement a value ladder in your business to sell high-ticket items, click here. Thanks very much for reading this article and truly with you the very best of success with your business and all of your future endeavors!
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