In my Make Money Online framework I put emphasis on the importance of working on your “Mindset” in the beginning of your journey…
But there are the so-called “High Ticket Mindset” where the gurus influence newbies to charge High Ticket for Information Products.
They say it is all about mindset…
“You will charge $9 for a product when you have Low Ticket Mindset”
“You can charge $9997 for a product when you have High Ticket Mindset”
I know mindset is important…
But I also think it requires some explanation as well…
I mean our mind is an abstract thing…
You can put everything inside your mind and think that you are cultivating a great mindset… which may not be the case always…
When I talked about mindset, I never mean High Ticket Mindset vs Low Ticket Mindset…
Thinking about mindset in this way is a BS to me…
Few days ago I got the following question from a budding High Ticket Marketer:
When someone asks this type of question I can guess, he is clearly a newbie and he started with High Ticket Affiliate Marketing like so many others out there…
He sounds so intrigued and fascinated by the idea High Ticket Affiliate Marketing that he started thinking about how he can find High Ticket from Recurring Subscription opportunities so that he can get High Percentage of Commissions being an affiliate…
I don’t have any problem if one can dream like that…
But you have to know the reality as well… which is where I want to focus in this post…
So I commented the following in response to the post:
Shafat M.: You don’t have any idea of how most people perceive recurring subscription…
Then He asked:
Mark: How is that?
I replied:
Shafat M.: No one gonna pay that much as recurring subscription… You can only think of $300 but it is not high ticket…
Then our conversation goes like these:
Can upi see the problem in the Mindset here?
Just notice when I said “value perception is not comparable” and how did he come up with his own objection handling type answer…
I would call it “The Perils of High Ticket Selling Mindset in Affiliate Marketing”, which is basically teaching people how to “Sell” things by “Persuation and Influence” which cares very little about Market and thus Marketing…
Once you got the idea of selling High Ticket…
Once you got fascinated by the potential of earning High Ticket Commissions by selling High Tickets…
Once you got sold by it in the process…
You can’t think of anything but High Tickets…
Now you can even dream of charging High Ticket for Rice and taking 50% commission….
But do you think it is feasible?
Clearly it is not…
But why Not?
To answer this I have to share the definition of market and how does market determine the price of a product…
This is something I learned from studying Marketing in my MBA… where my Marketing Professor repeatedly encouraged us to understand market by saying:
You can’t learn marketing if you don’t know about the market
So what is a Market in Marketing?
Definition of Market in Marketing
In marketing, the concept of a market refers to a group of customers who share similar needs, wants, or preferences for a particular product or service.
Simply market is a group of people who may want to buy your product or service. Now who is going to determine the price of your product? You or They?
How Prices of Product are Determined?
It is important to know that, neither you nor the consumers solely determine the price of the product in a market but they do it together…
Bascially it is determined by economics of supply and demand…
Now here’s the big question…
Can I charge High Ticket for Rice?
Theoretically Yes. You can charge High Ticket for Rice if, say for example, you imported it from Mars.
But for regular rices, you have zero luck…simply because Supply and Demand won’t work in your favor…
Same applies to High Ticket Recurring question…
Your market is going to determine whether you can charge that much or not…
So I finally replied the following based on my market knowledge:
Final Thought
My reason for writing this post was to help you understand the importance of market research and learning about different products, vendors, marketing messages and how they are solving same or similar problems for your target audience and most importantly how you can solve the same problem more effectively and efficiently the way your perfect customers would love them to solve. This is how you can make real difference and this is when you will do real marketing and as Peter Drucker said:
“The aim of marketing is to make selling superfluous”
Once you do that, all these efforts to make money online with online marketing will suddenly become interestingly. That’s my sincere hope for you.