By Matt Doyle, VP and co-founder of Excel Builders, a truly unique custom home builder, creating homes that make every day easier.
It takes a special touch to market big-ticket products. This is something I've had to learn as a builder of custom homes.
The people who make up the market for these products are knowledgeable and careful. They have high standards, and they expect you to be able to defend your claims.
I have been promoting my own services for years. In that time, I've had to learn a lot of lessons about reaching, reassuring and motivating people to make the final purchase.
Here are my top three tips for reaching these customers yourself.
1. Targeting matters more than exposure.
It typically takes a significant marketing budget to sell high-ticket items. That makes it important that you manage your budget effectively. When you're marketing high-ticket products, targeting matters more than exposure.
You should be focused on reaching a specific market segment rather than putting resources into making your brand widely known. The reason for this is simply that only a small part of the market has the resources to invest in big-ticket purchases.
What does it mean to put your budget toward targeting? It means investing in resources like:
- Consumer/market research
- Persona building
- Private case studies
- Keyword research
These resources can cost a lot. However, they are essential if you want to reliably reach the customers who will convert.
You shouldn't be afraid of marketing on small or even tiny platforms, such as single websites or narrow-interest publications. Look for platforms that appeal to the combination of interests, income and age group of your preferred customers.
2. Invest in research to prove your product claims.
Strong brands and slogans don't go very far when you're trying to sell high-ticket items. You should expect your customers to do their research and ask questions that only a real expert could answer.
If you do make serious claims about your product's qualities or features, you should invest in research that shows it does exactly what you say it does.
As an example, I use some high-performance building materials. I make specific claims about the lifespan and energy-saving powers of these materials. If any customers ask me to back up these claims, I have studies, lab results and other proof to show them.
3. Big-ticket sales depend on relationships.
Selling a big-ticket item is often a process. You shouldn't judge your conversions based on people who do or don't immediately purchase. Your attention should be on the people who request more information, email you with questions or sign up for newsletters.
Most people need a long time to think about making a big investment. Starting the conversation with you is how they work their way up to buying. You need to treat these contacts like they are already your customers because they are significantly more likely to convert than general traffic to your site.
In some markets, the relationships you build with these people can account for the majority of your conversions.
Reach People Who Want Your Big-Ticket Products
You can generate more sales for big-ticket products and services by using the right approach. Remember that targeting matters more than mass exposure, so make sure you're making the right early investments into targeting.
After that, make sure you build research that can prove your claims to savvy buyers. You should expect to be asked to back up your claims anyway, so it's always a good investment.
Finally, you should remember that the most fertile ground for conversions is the people who have reached out before making a sale. Treat these people like your customers to build the trust that's necessary for most sales.