High Ticket Sales - How To Close High Value Clients | Patrick Dang | Skillshare

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High Ticket Sales - How To Close High Value Clients

teacher avatar Patrick Dang, International Sales Trainer

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

5 Lessons (37m)
    • 1. High Ticket Sales Intro

      0:32
    • 2. A Definitive Guide To High Ticket Sales

      9:24
    • 3. High Ticket Closing Decoded

      7:42
    • 4. Day To Day Life In Sales

      9:17
    • 5. Inbounding Closing

      9:56
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About This Class

There's a lot of talk online about the term "high ticket sales." But I know it can be confusing to understand what it is, how it works, and if it should be on your radar.

For example: what's the difference between high ticket and regular sales? How do high ticket sellers get paid? And should you consider a career in high ticket sales?

Is high ticket sales the same a being a high ticket closer? We'll also break down how high ticket sales relate to more traditional sales roles like being a sales development rep, business development, account manager, and account executive.

We're also going to cover different forms of high ticket selling, inside sales, and inbound closing. Additionally, we're covering what the day to day life is like in sales.

Meet Your Teacher

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Patrick Dang

International Sales Trainer

Teacher

Hey, it's Patrick here!

Now, I’m on a mission to help everyday people to generate more sales for their business using the most cutting-edge B2B sales strategies.

After a successful sales career in Silicon Valley, I packed two suitcases and booked a one-way ticket to Thailand and started my journey with the aspiration of creating world-class online B2B sales training all while living a digital nomadic lifestyle.

And since then, I’ve traveled to many countries while creating programs training over +30,000 students in over 150 countries.

And over time, it became clear that no matter what country you’re from, what your background is, or whether or not you think you have the talent to sell...I’ve found that sales is a skill anyone can learn... See full profile

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Transcripts

1. High Ticket Sales Intro: Hey, what's going on, everybody? It's patchy day here. Now there's a lot of talks on the internet about this term called high ticket sales. So in this course, what we're gonna do is explained exactly what it is, how to get into it and whether or not it's something you should be interested in. And for our class project, what I want you to do is share with the rest of the class the top three things that you learn in this course and how you're going to apply these strategies of high ticket sales into your life. So that said, if you're looking to learn exactly what high ticket sales is, make sure you enroll in this course. Now. 2. A Definitive Guide To High Ticket Sales: There's a lot of talk online about this term, high ticket sales. So in this video, I'm gonna explain to you exactly what it is and whether or not it's something you should be interested in. So let's go ahead and define exactly what high ticket sales is. So essentially, high ticket sales is when somebody wants to make a purchasing decision, they want to buy something, but they want to talk to someone either over the phone or in person before they buy that thing. For example, if you were to buy something that costs $1000.5, $100 or $10 thousand. Wouldn't you want to talk to another human being before you make a buying decision? And that's exactly what high ticket sales is. Now, to explain it a little more further, let's go ahead and use this graph. Let's go ahead and talk about what low ticket sales is, right? So in the industry, a low ticket sale, or sometimes it could be even a medium to get sale, is when somebody can make a purchasing decision without talking to another human being. For example, if you were to buy a book that's $10, you don't necessarily need to talk to another human being because there's not too much risk in buying the book if you don't like it, okay, well you lose $10, not a big deal. So that would be an example of a low ticket sales. Also, if you bought something, let's say maybe $99 or maybe $300, you may be more hesitant to make a purchasing decision, but you don't necessarily need to talk to another human being before you make that buying decision, right? You can buy something online for 300 bucks and not really think too much about it. Now, when we get to the price points of let's say, a $1000 or maybe $5 thousand, even ten or $20 thousand. Let's say you're buying a car, for example, you definitely do want to talk to another human being because you don't want to make the mistake of buying the wrong thing that maybe doesn't fit your needs. And so that's why high ticket sales, it has become incredibly important in this day in age. And if you really think about it, most sales jobs in general are high ticket sales where you're selling something, maybe that's over a $1000 or more. For example, if you are trying to buy a ticket to an expensive events, right? It might cost $1000 or $2 thousand. And you want to talk to someone in person before you make a buying decision to see if it's a good fit for you, or if you're buying a car or maybe you're buying some kind of expensive software. These are all situations where salespeople have to come in and they are high ticket closers. Meaning, I mean, all that really means is that they're just closing a deal. Now that you have a good understanding of what high ticket sales is, let's go ahead and dive a little more deeper and talk about salaries and commissions. Alright, so let's go ahead and talk about the commission structure of high ticket sales on the left side of the graph over here, right? So let's say you're, you want to be a high ticket seller, really, that's just another term for salesperson. Let's say you want to make a $100 thousand a year, right? There are situations where you can freelance and worked for other companies and you can work purely on commission. Meaning if you close a deal for another company, they're gonna give you a percentage of the sale and your salary or it's not really a salary, your cognition of what you make every year is determined on what you sell. So this is very popular for a lot of businesses because as a business, you don't have to take any risks on hiring a new person. You can say, hey, if you can sell these things for me, I'll give you a percentage and if you do a good job, then you can make a 100 K or whatever the number is going to be. In this situation, sure. Your how much earning potential you have, it's uncapped. However, if you don't sell anything, you're not gonna make any money for the year. So from a business perspective, that's why a lot of people who run events or do like coaching or consulting or sell online courses. They might do 100% commission structure and find all these people who are willing to put in the time to try to sell their products and services. Now let's go ahead and move into the other example. Let's say you want to make a 100 K, But then you're working at another company. Let's say you're working at a Microsoft and Oracle or Salesforce, right? Because essentially if you're selling something that's more than $1000, that's high ticket sales technically, right? So it's just another word for a sales rep. So in these situations, instead of working on a 100% commission, sometimes you can do salary plus a commission. So let's say you want to make a 100 K at the company says they want to attract talent and to say, okay, if you joined us job, you have the potential to make a 100 K if you hit your goals and you can make more money if you sell more stuff, right? So they might say, Okay, 40% of this, a 100 K, you're getting it. You're gonna get paid a base salary, right? So if it's a 100 K, you might get paid $40 thousand as a base salary. And if you sell and you hit your quota, meaning a target for you and you, once you meet that quota, you will get commissions of another 68K totaling to a 100. Why this might be more attracted to a lot of people is that you're getting a base salary. So whether or not you sell anything or not, you know, you have this and you know that you're not going to starve and you're going to be okay. But obviously you want to do well for yourself and you want to sell. So your goal is to get to that a 100 K. Now usually a lot of companies will do it this way. Like for example, I went, I used to work at Oracle and at different startups. They had this this commission structure where they pay a base hourly and they pay a commission because I feel confident and their salespeople and they feel confident, they're going to invest in their team. So that's why they pay them a base Harley. And if you want to just keep selling more and more than a 100 K and you want to go to the moon, you totally can't do that. And they're going to have commissioned structures for that. For companies, I have a 100% commission. The thing is you want to really watch out for this because if they're not really investing in you as an employee or you're not technically employee or like a freelancer, then if you're not doing well, they may not culture, they may not do all the right things to help you succeed. So if you're not good at selling and you're doing 100% commission, you may do well if you have the work ethic to make something happen out of nothing, but if you don't do well, you're not that great at selling, you probably won't. So anything, it is 100% commission-based and the company doesn't really care because they don't have to pay your salary. So that's why for most good sales jobs like let's say an Oracle or Microsoft or something like that. They're always gonna do salary plus a commission if you are an employee at the company. But again, if you want the more freelance route, that's totally okay too, because you can work at different companies selling different products and services depending on what you wanna do and what fits your style more, you can decide if you want to do a 100% commission on high ticket sales, or you can do salary plus commission. Now there's going to be one more idea when it comes to high ticket sales. And that is whether or not the company you want to work with has inbound leads or outbound needs. Okay, so let's go ahead and first talk about what it inbound lead is. Now if you are a high ticket seller and the company that you potentially may want to freelance and worked for if they say they had inbound leads, that's actually a good thing. So what does that mean exactly? Well, you have the company over here, right? Lets call this company. And they have all these people that are interested in their products and services, right? So they got all these different leads essentially. So what happens is that there's going to be a point where those leads the people that are interested in this company's products and services they want to buy or they're interested in learning more. So what happens is, is the company is going to help you by giving you all these leads and you're gonna take sales meetings with these people. So all these leads here, they go to the salesperson, that's you. And then you get on the phone and you try to convince these people to buy their products and services. So inbound is obviously a lot easier because all you have to do is wait for the company to give you these leads, basically phone meetings and you're gonna get on the phone and then you're going to close the deal. Are you really need is a phone to actually do it. So in the situation like this, even if you did like 100% commission-based, that's kinda alright because you don't have to go out and find customers. That company already found the customers and they're pushing it to you. And you just have to do that last piece to get on the phone, convince them to buy their products and services. Now the other situation is what if they don't have inbound leads and they have something called outbound leads. Outbound link it. So I'll go ahead and do it over here and draw a little box over here. So outbound, outbound. So how does that work? Well, if you are a salesperson doing outbound leads, this applies whether you're doing a 100% commission or commission and base salary. So up on leads, you have to go out and find customers, so in servers. So you're over here and you are the one that's going to have to go out. And you're going to have to find all these people and convince them to buy this company's products and services. And so this is actually a little more difficult because if you were to do outbound, you have to send emails, you have to cold call, you have to find people on LinkedIn and get a meeting with them and they don't even know who you are, but you have to convince them to spend 30 minutes of the time to take a meeting with you and then you have to convince them to buy the product and services. Now obviously, that's a lot harder than inbound, right? Inbound, they're really warm, they're already interested. All you have to do is close down, but outbound, you gotta find these people and convince someone who has no idea who you are to buy your products and services. Although inbound is much easier, both work, right? There are many companies that grow by inbound. There's many companies that girl purely on reaching out to people and doing outbound. So depending on what product and service and industry you're working in, both can be a viable option. They just take a little bit more different skill sets. But essentially when in the end, whether it's outbound are in battle in your high ticket closing, all you're doing is convincing someone to buy something expensive. And that is pretty much high ticket closing is. So whether you're working at a company that has outbound leads or inbound leads in the end, the high ticket closing or high ticket closer, they all do the same thing and that is convincing the customer to buy products and services. That said, my name is Patrick dying and I'm gonna see you guys in the next one. 3. High Ticket Closing Decoded: High-ticket closing is one of the most valuable skills when it comes to increasing your earning potential. But I know it can be a little confusing to understand exactly what it is and whether or not it's something you should be interested in. So in this video, I'm going to give you the breakdown of everything you need to know about high to get closing. Now the quickly explain what high to get closing is essentially when somebody has to talk to someone over the phone or in person before they can actually close a deal? Not so let me go ahead and explain how this all works. So there's going to be something called a value ladder. Now I first heard of this concept from a couple of marketers at Russell Brunson and Perry Marshall. But I'll go ahead and explain it to you here. So essentially what you've got is a ladder or maybe like a staircase where a company builds a relationship with their customer. And as they build a better and better relationship, the customer is going to go up there value ladder and spend more money with them. So for the example of our value ladder, let's go ahead and use Starbucks as an example. Now, when it comes to Starbucks, right, there's different levels of how much money someone can spend. So if you buy, let's say, a cup of coffee, let's say it's got to be like four bucks, okay? So people go and buy coffee. They don't really need to talk to a sales rep though. Just say, hey, can I get a cappuccino and then they buy it, right? The next phase of that is Starbucks is going to maximize the amount of money they can make per customer. So he ever noticed when you're walking in a coffee shop, whether a Starbucks or anybody else, they're gonna sell you what beans, right? So if you're buying beans, it might cost $10 per bag. So the idea is that if you are buying Starbucks coffee, there's a chance you'll buy Starbucks beans, right? So that means the company is maximizing the value of that customer. But if you look around Starbucks, you kinda see that they're going to sell you more things. They might have different cups for you to drink your coffee at home. They might have different tools to make your coffee at home, right? Sometimes they have a poor VR drip or maybe a French press, and these can get a little more expensive. So let's say it goes up to $50, right? So essentially when somebody goes into Starbucks and they want to buy a cappuccino, they're gonna spend that $4. But when they look around, they might buy the coffee beans. They look around a little bit more. They might buy something like the cups in mugs and things to make coffee at home. So now that Starbucks is not making $4 from the person, they might make all these combined notes, $64 for that one customer. Now, all these things may happen without actually having to talk to a sales rep, the person, and Starbucks, they see what they want to buy it and just buy it. So where does high ticket sales come in? Now a lot of people don't know this, but starbucks actually also sells high-end espresso machines and I believe they can cause maybe a $1000, right? And most people don't really know about this because most people aren't going to be the person that spends $1000 on an especial machine to make expresses at home. But there's always going to be a person that's interested in going up this value ladder. And they really are big fans of Starbucks and they're willing to spend the money. So these people are going to spend $1000, maybe more, on an espresso machine to make Starbucks quality coffee at home. Now where high ticket sales comes in, is that when you're at this point? You might actually need a salesperson to come in and actually talk to the customer. So for the previous examples, if you are selling coffee, coffee beans, maybe cups and mugs and things like that, you don't need to talk to a salesperson and you just see it, you buy it. It's not that big of a deal. But if you're going to spend a $1000 or more on an, an espresso machine. You probably do want to talk to a person to make sure it's the right purchasing decision for you because you don't want to spend $1000 and something that is not the good fit, right? So whether you're selling espresso machines or any other products and services, for example, coaching or consulting, high-end events, maybe a car, right? These are all situation where you need a salesperson to talk to the customer before they make that buying decision. And that's essentially what high sick it closing is, high ticket closing. All that really means is you're selling something that's generally more expensive, where you need to talk to another human being before they make a buying decision. And when it comes to high ticket closing, all you're doing is closing a deal essentially is just another word for a sales rep. Salespeople had been around for hundreds of years. So technically, anybody who's selling something expensive is a high to get closer because they're closing high ticket deals. But in this day and age, the definition of a high-tech closer, usually it's a little more specific. You see from the example I have here, the people that are going to buy this special machine. They went all the way up this value lighter over the course of days, months or years, Starbucks or whatever the company is, has already built a warm relationship with that customer, right? If that customers coming in every other day to buy Starbucks coffee, they really trust Starbucks. So by the time that person is ready to spend that $1000 on that Expresso machine. They have really been a fan of sorrow books for so long. So that's salesperson or that high to get closer who comes in and cells that thing. It's a lot easier because you're selling something to someone who already wants it there already warm and they're highly likely to buy. Otherwise they would have never even got to this step. That's very different from, let's say co. calling, right? For example, if you cold call somebody, they have no idea who you are and they don't know what you sell. So it's a little more difficult to get them to buy your products and services. But if someone has already built a relationship with your company over multiple years or months or days, then when you get to this point and they're ready to buy, the sale is a lot easier. So for high ticket closing in this day and age, usually all you're really doing is you're trying to find other companies who have this process already built out and you just want to be that individual that is placed right here. They're gonna give you all these customers, all these leads, and all you have to do is take the war meetings and convince that person to buy their products and services. So once you actually get on the phone as a high ticket closer and you're trying to close somebody, this is essentially what you're doing, right? You want to think it metaphorically. You wanna think of it like this. Ok, so this is pretty much, these are cliffs, right? That's the water. So essentially what a high ticker closer does is they're saying, all right, the customer you have is over here. Alright? This is point a. They want to get to point B, right? Whatever that situation is. So let's say they don't have an espresso machine. They can't make quality coffee at home. Get over here. They have the exosomal machine and they can get quality coffee at home, right? Or let's say you're selling high-end fitness program, right? Someone might be overweight, not healthy, and they want to become healthy. So all you're doing as a high ticket closer is you're saying, OK, look, you're here at point a, you want to get to point B, but you're not really sure how to cross this gap. I have some kind of product or service, right? That's where you come in that will help you get from point a to point b, right? And your progress service, it can literally be anything that helps them. It could be the bridge that gets them across. Maybe you got like a little helicopter and get them over, right. It doesn't really matter how you get them to the other side, as long as it's cost-effective, they see the value. They can get results relatively quick. People are going to want to buy your products and services. So as a high ticket closer, it's not necessarily like you're forcing someone to buy your products and services, right? It's not like a hardcore sales haven't job. It's more like understand your customer, where are they currently? Where do they want to go, and how does your product and service helped them get from point a to point B? And because they're already so warm, it's a lot more easier just to show them like, hey, look, I can get you over here. Do you want to buy or not? And a lot of times that he's pretty much what it takes. So with that said, my name is Patrick day and I'm see you guys in the next one. 4. Day To Day Life In Sales: Hey everybody, it's Patrick Jane here now when I was in university and I was thinking about starting a sales career, I didn't really have anyone to talk to you. There's nobody who really was familiar with what a business development rep was, what an account executive sales development read in all these different names. Many people didn't really know and there wasn't much information online about these different type of sales roles. And so what I did was I just kinda dove right into it and just learn from experience. And I joined a company called Oracle. And that's where I really started my sales career and start to learn everything I know about sales. And if you're considering a career in sales, what I wanna do in this video is show you the day in the life of when an account executive or business development rep does on a day-to-day basis. I'm gonna give you a really deep description on what the day to day life is hour by hour. And so you have a really great understanding of how it works and you can decide whether or not it's something you should be interested in. And if you are already in sales, because it can help you a lot because you're going to get an idea of how to be extremely productive throughout the day to make sure that you really blow your goals out of the water. So what I'm gonna do for this video is I want to really dive deep into the account executive row and the business development role. Although they do have different names, the day-to-day is very similar where you're essentially you're job is to close deals with other businesses. And a lot of times you also have to generate your own leads mean you have to meetings with your potential clients and close them, right? So sometimes you have to do the entire stack from a to Z. So I'm gonna break it down hour by hour from the moment you start working in the morning, all the way to the end of the day. So you know exactly how these roles work, what you'd be doing on a day-to-day basis had to be productive if you already had this job or if you don't and you're considering these careers, you know exactly what you'll be doing on the job. So now we're going to dive into the sales and business development schedule. So on a typical day, let's say you are starting work at eight AM, essentially, I am to a 30. That's when you sit down, get your coffee and maybe a little breakfast and you'll talk around with your other core because of things like that. And you really just trying to get into the flow state in sales, right? Because a lot of times your job is you're on the phone, you're writing emails, you're reaching out to people. So the main important thing is, you know, get all the morning routine stuff out the way, but make sure you have some type of routine, whether it's meditating or stretching or whatever it is to really get in the mindset that you're gonna do well for the day and you're going to be able to handle rejection and control your emotions really well because your attitude affects everything when it comes to sale. So make sure you are in the right flow. Say now when it comes to a3 and you really start, you know, you're at your desk and you're really starting to work. That's first thing I would typically do as an account executive is I would review my prospecting emails and my follow-up emails with active deal. So what does this mean? Well, if you're an account executive or business development, a lot of times you're going to use outbound lead generation to generate meanings. Meaning you're going to send cold emails and LinkedIn messages. And for me as an account executive before, what I would do is I would say right all my emails and I would schedule them to send out in the morning and our software to do all of this for me. So then in the morning, all these emails were sent out around six AM, 07:00 AM, and then people would start responding. And so by the time I get to my desk, I got all these responses are ready for people who want to schedule a meeting with me. So I wanna make sure I answer all their questions to make sure they want to go on the meeting and see what meetings are booked on my calendar. Not only that, but sometimes a potential customer who I'm already working with might have some questions on my product or service that I'm selling. And so that's when I'll follow up with them on the deal. And I usually do all those follow-ups and checking all these emails in the morning because they're kinda immediate, right? Because people are waiting for a response. So the next thing after 930 is I'm going to have sales calls throughout 93212 p. M. And the reason why I like to do sales calls in 930 is because a lot of times people don't want to do a sales call super early in the morning like AAR Martin, Many people come into the office at the time. So 930 for me is a sweet spot where, you know, pretty much everybody has at their office. They're really working. And, you know, sometimes you like to start today with a early morning meeting, right? And so I found personally that a lot of people take meetings in the morning from 930 to 12. So these meanings can consists of a couple of things. One, it could be that someone responded to my cold email and they scheduled a meeting and I'm talking to them for the first time trying to sell my product or service. The second thing it could be as a follow-up meeting where maybe I already talked to this person and they wanted to have another meeting to learn more about my products and services and meet with different people on their team to make sure it's a good fit for them to work with me and for me to make sure we're a good fit to work with each other. So again, it could be new discovery and new discovery type of cause with potential prospects or continuing deals. Now after 12, what's going to happen is I'm going to have a lunch break from 12 to one because obviously you gotta rest straight and you're going to indirect because when your phone calls and you're kinda like in the zone, then you gotta eat it, right? So you want to make sure you relax. You eat lunch, maybe getting another cup of coffee if that's your thing. And then from 01:00 PM to three, what I would like to do, I'd like to focus on outbound prospecting. Okay, so this is very important because in the beginning, like I said, if you're an account executive or business development person and your job is to close deals, but also generate your own leads, meaning you have to reach out to people. This time, I would typically do it. Now, my personal preference is to use LinkedIn and cold email. My biggest preference actually using email because you can automatically schedule these meetings to go out at a certain time. So I would write all the emails and things like that and schedule them during 1-2-3 PM. And at the same time, I'm also spending a lot of time researching different companies, seeing who would be a great fit for my product or service, and then scheduled those meetings. So you definitely once you block out, you know, a couple hours out of your day doing this because if you don't have a consistent flow of meetings coming in, it doesn't matter how good you are as a seller if you can't, you know, generate meetings, right? That's why you have to spend a lot of time doing this. And again, some companies they focus on cold email, on LinkedIn, other companies focus on cold calling, right? So there are different depending on your industry might be different. So if you were focused more on cold calling, then this entire schedule might be different. You might be cold calling in the morning where people are more likely to pick up. But in this example, I'm making the assumption. I'm just using my personal experience of using cold email and LinkedIn instead of cold calling. And that works a lot better for what I was selling, which is software at the time when I was in Silicon Valley. Now, after I do my prospecting right in scheduling all these e-mails and LinkedIn messages to go out in the morning for the next day from three to 430. What I'm gonna do is if I need to fill my funnel with more meetings, that I'm gonna continue doing these outbound prospecting activities. If I'm good on, you know, filling my funnel, then I'm going to have more meetings with potential customers and you don't talk to them on the phone from three to 430. And that's also another good time for people to do meetings because it's closer to the end of the day so they're not as busy. And finally, from for three to 05:00 PM, where I'm gonna do is I'm gonna review my sales calls, right? So sometimes I will listen to the recordings of the calls to see what went well, what I can improve so that when I go into the next day, I can make those changes and improve my pitch or improve the way I'm sending emails and things like that. It's also reviewing your outbound strategy, right? Because it's like you have to learn from your mistakes and you have to learn from what's working. If you keep doing the same thing over and over, you can't get better results. So you have to analyze I, okay, like what am I doing? Why aren't people buying? What can I say differently to have a better shot of them actually closing, right. And so you want to review that on a daily basis, minimum, a weekly basis to kinda see like what you can improve. Because if you're not analyzing what you're doing, there's no way you can actually get better. And so I like to end today with that. And of course, if you want to work more hours from eight to five, totally cool, you can spend more time doing probably outbound prospecting. That's pretty much the only thing you could do at this point because not many people are going to take the meetings unless it's during the work day. So you can keep filling your funnels with potential meetings because the more means you have, the more practice you get, the better you are at becoming a seller. So when it comes to the next day, what's going to happen is if you schedule out all your emails and LinkedIn messages to go out in the morning. When you wake up, you come to your office at 830, you're going to get a flood of people messaging you back, asking for a meeting or a ready scheduling a meeting and then you continue the day throughout like that. So that's gonna be the typical day of an account executive in business development person that has to generate their own leads. And if you kinda think about it, you know, it doesn't really require any prior experience to do this. You just gotta be good with people understanding how to sell product. And you have to know how to write good emails and messages to convince people to take a meeting with you. But all these things can be learned on the job. The main important thing is having the right attitude and going into it every day with a positive mindset and pushing through even though things get hard because yes, it's a little bit of a grant. Yeah, I can kind of see it might be repetitive for some people, but at the same time, this is what it takes to be successful in sales. So that's just the job that you have to do. So with that said, my name is Patty Dan. Thank you for watching. I really hope you guys get a lot of value. Add these videos and ominous you guys in the next one. 5. Inbounding Closing: Hey, what's going on, everybody? It's Patrick Dang here. Now in this video we're gonna talk out beings inbound closing. Now if you're watching this video, you probably have heard of inbound closing before and you might have questions like, what exactly is it? How does it work? And what's the difference between inbound closing in height to get sales and how much money you can actually make from being an inbound closer. So stick around because we're gonna get all your questions answered in this video. Now the first thing we're gonna do is we want to define exactly what Inbound Sales and inbound closing is and really see the difference between inbound and outbound sales, right? Because there are two totally different things. I'll start with outbound first. Now, outbound sales is essentially what it sounds like when you are reaching out to another person, you are reaching out, hence the word outbound. And when you're doing outbound sales, that typically involves a lot of cold emailing, a cold calling, or sending messages on LinkedIn. And you're trying to find people that pretty much have no idea who you are. They don't know what you offer and you are just sending them a nice message to see if they want to take a meeting with you to learn more about how you might be able to help them, right? So that's Outbound. Let's go ahead and put on this side. Now let's go ahead and talk about inbound. You know, the differences between the two. Now inbound sales or inbound closing is essentially when, let's say the marketing team of a company generates a lead. And this can be done with, let's say an advertisement, let's say YouTube ad or a Facebook ad, Google ad. Or maybe they wrote a blog or maybe they created a YouTube video. And then at the end of that piece of content, whether it's a blog or a video or an ad, they're asking the person to say, hey, if you're interested in learning more, go ahead and schedule a time to talk to one of our specialist. And this is essentially how an inbound lead is created. And this is very different from outbound, because outbound you're just reaching out to someone asking for a meeting. Inbound, you're creating some type of content and getting it out there. And people, if they like it, they're going to come to you. And that's why it's called in bound, right? It's coming to the company. Now when a lead comes into the company, it's a lot more warm in that the person who really kinda knows who this company is. And they want to talk to somebody to learn more about their products and services. And this is exactly where an inbound salesperson or inbound closer comes in. So typically what may happen is a company runs a ad, they get a lead, the person wants to talk to a person and then that inbound closer or inbound sales rep will be that person that the customer or prospect is going to talk to. And within that process, the inbound closer their job is to understand the customer, know what their challenges are, and try to see whether or not they should sell their products and services to this customer and inbound closer essentially closes the deal. Now the key difference I'll iterate this is that inbound closing essentially as a lot easier because you're working with warm leads, people who are already interested in your products and services. All you have to do is pretty much taker older and close the deal outbound. Much more difficult because you're constantly having to reach out to people who have no idea who you are. Now that you understand the difference between inbound and outbound sales, let's go ahead and talk about. Inbound closing compared to high ticket sales or high ticket closing. Now, high ticket sales can also be the same as inbound closing rate. Some people can make be able to even use these words interchangeably, but there's a key difference here. So usually pride to get cells, you're selling something somewhat more expensive where it's worth it to get a sales person on the phone. So you might be selling something that's like two thousand, five thousand, ten thousand or $20 thousand to a customer, right? So that's why it's called high ticket sales. Now when you're doing, hey, ticket sales, you can do outbound, meaning you can reach out to people and see if they want to buy. It's still considered a high ticket because it's all about the price point. But you could also do high ticket sales in an inbound way where if a company already has leads, coming in height to get closer might be the person who just closes those deals. And you can kinda see that inbound closer does exactly the same thing where if a lead comes into accompany an inbound closer, we'll just cover on the phone and talk to the person and close the deal. So high ticket closing an inbound calls and can be the exact same thing. The only difference is that E high to get closer, they can either do inbound or outbound. When you're deciding on working with accompany, you gotta see whether or not you have to do outbound our inbound and see which one you actually prefer. Now the next step to understand is what exactly is the day-to-day of an inbound closer? Now, for an inbound closer, typically you're going to spend a lot of time on your computer and on the phone. And all that really means is on the computer, you essentially have a list of leaves or list of emails, or it might be people you may have to contact on LinkedIn or Facebook and you reach out to them. They might be already somewhat warm. And you say, hey, I saw you downloaded a PDF or a sound, or saw you read these blog posts or blah, blah, blah. And just want to see if you want to hop on the phone to talk about some of your challenges to see if I can help you, right, that's just one possible script that an inbound closer might have. And all they do all day is fine. All these warm leads at the company already has reached out to them and schedule meetings, get on the phone and try to sell. Now that's when, you know, the company doesn't have a process to generate the meetings right off the bat. They just may have the warm leads but not assist them to book a meeting. And that's why the inbound closer has to manually go out and find these people and then try to get on the phone. Now if the company has an good inbound process and they have a system to actually turn that lead into a meeting and that person just schedules a meeting. The inbound closer might just show up to the meeting and just be like, hey John, what's going on? It's Patrick and then they just, you know, how that selling process happened right there. So in that situation that in bunk closer doesn't have to reach out to anyone, leaves. Their calendar is a religious book to have meetings. And all they do is just meeting after meeting, after meeting and try to sell. And, you know, they're going to ask questions they're gonna do pitching and all these things and the person isn't by the first car, they have to have a follow-up process to make sure that customers comfortable with moving forward. But the deal and that's pretty much what the day to day is like. Now the next thing we're going to cover is who exactly is hiring inbound closers and how much money can you actually make? Now when it comes to inbound closing, I can. I categorize it as two different types of companies you can work at. The first one is you might be working at a company that's a lot more established, let's say like a Salesforce and Oracle, Microsoft, or even start-up with funding, right? So they might offer you a base salary and they might also offer you commission based on what deals you are closing. So a hypothetical example. Could be a 50-50 split. So if they want you to earn a 100 K per year, they might say, alright Patrick, you're gonna get paid 50 K a year as a base salary no matter what you close. And then if you hit a 100% of your goals, then you can actually make another 50 k. And then that would be a total of a 100 K per year. And if you can sell more than what we expect, you can make more than a 100 K per year, right? So this is a nice, safe middle ground where you get a salary and you know that you can live and at the same time if you perform well, you get that commission. Now, other companies who may not want to pay a base salary because, you know, maybe they can't afford it. It may be the can't take the risk and the only wanna pay based on commission, which can actually motivate salespeople a lot more. And, you know, they might have a 100% commission structure where they might give you some meetings and you can only make money if you close these deals. Now obviously this is a lot more scary for some people because maybe they're not confident that they can actually get the job done. If they don't sell anything, then they don't make any money. That's essentially a two type of companies you can't work at. But the one cool thing about inbun closing is if you already know what you're doing or the company you want to work at has some kind of sales training process. You might be able to work a 100% at home. So this can be a remote job because you only really need a laptop and a phone, and that's pretty much it. And you just take calls, follow it with people and just close deal. So if you can do that off from home and you don't need too much guidance, then this could actually be a pretty good career path where you're making good amount of money, just sitting at home and taking costs. Now in the beginning, if you don't have any skills and you don't have those sales skills to actually turn a prospect into a customer. You know, in the beginning it might be really hard, especially if you are on commission only. But once you understand accompanies sales process, you know how to pitch their products and services and you know exactly how to move the customer from prospect to customer, then it becomes a lot more easier and routine. But I would say maybe the first year or two, it does take time to actually learn the art and science of sales. But once you get it, you know, you've got that skill for life. So an important thing when it comes to choosing where you want to work, then what opportunities to pursue when it comes to inbound closing or high ticket sales. You really want to ask the company that you're going to, you're thinking about working at. What is the average rep making? You know how much money on average is the average salesperson making. So you can't get a ballpark idea of how much you can be making down. We'll take it a step further and ask, OK, well this is the average. Well how much is the top rep making, right? Because if you believe that you can also be at the top, then you want to know your maximum potential. And so if you feel comfortable with what the average person is making and you feel aspirational in that you feel confident if you do a good job, if you're comfortable that you can make whatever the top rep is making, that seems like a good opportunity. And if you like the product or services versus cells and you like the company, then that would probably be a good fit to apply for a job as an inbound closer. But you just wanna make sure that if you wanted to inbound closing and that outbound, you want to look at the job description to make sure that they have leads coming in. And it's a lot easier to have those meetings. All you have to do is get on the phone. But if they're saying that you have to generate your own leads than you may even spend half your time generating outbound, sending emails in cold calling and LinkedIn messages, and then half your time actually closing. So really make sure you know what you're getting yourself into, whether it's inbound or outbound. And so what that said, that is pretty much inbound closing in a nutshell that said, my name is Patrick Daniel because under this video and I will see you guys in the next one.