Are you running a high ticket signature coaching program or consulting package? Giving a free challenge or live webinars is one of the ways to sell to your potential clients. In this episode, you will discover how Dan Lok is giving free challenges or live webinars to sell his high ticket coaching program. Listen and see how you can implement his ways in your own coaching business.
Timestamps:
[0:40] What is the Theory Of Consumption and why does it matter to your free challenge or live webinar?
[1:51] Here’s an example of Theory Of Consumption that you can implement in your high ticket coaching program.
[2:25] How should you dictate the price of your signature coaching program?
[2:40] Do you want to experience Dan Lok’s process and learn how you can implement his ways into your own coaching program?
Here’s another good question we got from our High Ticket Expert community, what is the best way to do a free challenge or live webinar in trying to sell my coaching program or consulting package? By the way, if you are not a part of the High Ticket Expert community, you could apply. Go to www.highticketexpert.com.
So, first of all, let me teach you the theory of consumption. So why do you want to do a challenge? Now, that could be a three-day challenge, a five-day challenge and seven-day challenge or a 21-day challenge. You have to understand the theory of consumption. So let me teach that to you.
The theory of consumption says this, for a every $1,000 you want someone to spend with you, they need to consume at least one hour of your content. I’ll say that again, for every $1,000 you want someone to spend with you, they need to consume at least one hour of your content.
Now, that could be micro-consumption, five minutes here, 10 minutes there, 20 minutes there. Or that could be a big lump sum. So think about it. If you want someone to, let’s say, buy your high ticket program and your high ticket program is $10,000, what does that mean? That means they need to consume at least 10 hours of your content.
So you look at 10 hours, well, that easily could be a three-day challenge. You could do five, six hours here or three, four hours here. Next day, day two, three, four hours there, and then day three, three, four hours there. That’s okay. Day one, day two, day three. So depends on how much you are charging. What is the price point of your program? That would dictate how much time you need them to be with you to scale trust, to compress time. If it’s a $5,000 program, five hours. If it’s $10,000 program, 10 hours.
So if you look at it that way, you will know the best way to structure your free challenge or your life webinar. If you want to see this in action, how we do it, you could go to www.moresaleschallenge.com. It is a 21-day challenge. It’s micro-consumption, 10 minutes a day, and you can see a process and how this works. I think you’ll learn a lot from it. And check out the page and check out the sequence because I think there are a lot of things you can apply that in your business as well. Until then, go high ticket.
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