How To Double Your Sales With A Value Ladder
A while back I had a chat with a local business owner here in Cincinnati, OH about how to grow their business with online marketing.
Throughout the conversation, we both kept bringing up the fact that they only had one service, and how hard it was to sell it. In most cases, this is great since they can focus on how to do that single service better than everyone else.
Unfortunately, this service was expensive ($20k+monthly), on top of that they can only handle a few clients at a time. Thus, we all came to the conclusion that they need a value ladder. Which is what brought me to write this article on how you can grow your business with a value ladder.
So, What Is a Value Ladder?
A value ladder at its core is just a series of products or services that stack on top of each other. Often they are used to engage people at different levels and push them to your core products and both help and educate your customers while making your business money.
Some of the best value ladders are almost automated and require simple maintenance but a shipload of cash on the reg.
For example, let’s say you run a sales consulting company and your core service is 40k. Your a value ladder might be a series of free content and products. Then, by leveraging trip wires and message based funnels you push these people to Low Barrier Offers or LBOs.
A good example of a value ladder for a sales consultant company might go something like:
Businesses Core Offerings:
- $40k Corporate Level: Sales Team Consulting Session On How To Closing More Sales And Grow Key Accounts
- $25k MasterMind To 10x Your Entire Teams Sales Growth
- $8k 1–1 Consulting On How To Improve Your Close Rate
Med/High Priced Level Offering/s:
- $1297 Comprehensive Guide On How To Close Cold Leads And Make More Sales In The Next 90 Days
Medium Level Offerings:
- $347/M Get One Monthly Consulting Call With A Sales Member Monthly
- $97 (30 Minute) Call with our XYZ expert.
Low Barrier Offers:
- $7 (one-time payment) Download Our Top X Sales Scripts And Convert More Clients Starting Today.
- $37 (one-time payment) Access To A Private Facebook Community Of Like Minded Sales Experts And Weekly Live Sales Training.
- Top X Rejections Every Sales Guy Experiences & How To Over Come Them
- 21- Day Sales Closing Challenge
What Does This All Mean For The Sales Company?
In the example above we have their core services but they are not always easy sales. So, through the power of the value ladder, they now have a series of products and services they a can promote to get someone actively engaging with there business.
Then through great account management, they can leverage these lower product/services to grow the accounts and sell their core services.
How To Make Your Own Value Ladder:
For most businesses, you can take the example value ladder and use it as the building blocks to create your own. But, how can you create your own value ladder and know people will actually want what you create?
If you have been in business for a while, I’d be willing to bet that you have a good idea of 5–10 business related topics people always bring up.
Is that you?
Great then write them down and take a serious look at them.
Often businesses can create digital products based on what they do. Similar to the value ladder above you see that a lot damn near all the products are about 2–4 topics. Each product takes one or two topics and creates an entire educational series about them.
So, for you what are TWO big pain points you could create a kick-ass course or educational series on?
If you don’t know, you just need more time and that’s ok you don’t need to build the entire value ladder in a day. But, you should keep it front of mind because a value ladder can help you get WAYY more sales than your closing today.
Going back to where we left off, with the value ladder, you need to take your series of topics and put add value to each topic. Then, place the topics into one of the offer levels that were shown above. Ideally, by the end of this exercise, you have at least 1 topic for each step of the ladder.
Once, you have your topics in place its time to create your offers and build what you feel is best to provide at each level. Some of the best ways to go about doing this are:
- Core Services (Highest Priced Offer)
- Mastermind Or Private Training (Mid-High Priced Offer)
- Educational Course On A In-depth Topic (Mid Priced Offer)
- Downloadable Swipe Files Or Guides (Super Low-Cost Offer)
- Free Content Or Video Series On XYZ Topic (FREE OFFERS)
After you’ve outlined every part of your value ladder and know what you’re going to talk about. Then you can finally get the ladder created, I recommend getting your value ladder created as fast as possible.
Why, though I want to look like the best.
Great question, the best way to get results is by doing it. So if you create your 1.0 version of the value ladder fast. Then you can actually start putting it to work. Once you have your value ladder up and running you can make adjustments and improve the quality to better fit your customers and business goals.
How To Take The Value Ladder And Get More Sales:
Now, how can a business with a value ladder similar to the above start making more sales and getting leads?
There are a few ways you could go about doing it but the easiest way is to start with the stacked approach. This is where you start with the lowest possible offers you can promote (aka free offers) and get ads or organic traffic going to them. Then, once someone had made the first touch point by signing up for the free offer you can send them the next highest offer, then the next highest offer, and so on.
This process can move both fast or slow based on the readiness of the user that engages with the product offering. Starting in this way is often better for businesses than trying to go in for the kill with the high-end services.
By, starting with the lowest offerings first, you are able to capture a much larger audience with the same or less time and money. One of the best parts about a value ladder is this key difference. The larger your engaged audience is the most opportunities you have to grow accounts. Where in the case of the just selling the high-end offerings you are solely focused on trying to find people that are at the very end of the sales process and looking to spend serious cash to get results.
Keeping Your New Audience Engaged & Make Sales:
Once you have a series of people or businesses actively using you’re (damn near automated) products. Then you use the multiple platforms available to us today like email, SMS, chatbots, phone calls, etc to keep these people engaged with you. Throughout this messaging automation, you are providing MORE value and sending them offers that are in the same bracket of there last purchase or higher. Then over time, you will start to see some of these people ask for your services without you having to do a hard sell.
Alright, I think this is a great stopping point for today. If you enjoyed the information you’ve came across today please show some love with those claps. I hope this article helps you get more from your business efforts and gives you a new point of view on how to make sales. As always, if your looking to get access to people that care about the success of your business just connect hereor here adlabs.social