Law of Comparison and How to Sell High-Ticket Packages

Hey everyone! I’m out here in our old horse barn on our property today. Funny thing is, we don’t even have horses. This barn came with the property when we bought it earlier this year, and now we’re brainstorming how to transform it into a cool hangout spot. I was out here thinking about my talk from the Huge Convention and wanted to dive deeper into a specific idea: how the law of comparison affects pricing and sales, particularly when offering multiple packages.

The Power of Good, Better, Best Packages

When you offer different pricing tiers—like a good, better, and best option—where you set the price of your middle package can have a huge impact on what your customers choose. Here's why:

If your middle package is priced closer to your highest package, customers might think, "Well, for just a little bit more, I can get way more value!" This makes the top-tier option seem like a no-brainer, and people will often opt for the premium service. On the other hand, if the gap between your middle and high package is too wide, your middle package will feel like the “sweet spot,” attracting more buyers who see it as the more economical choice.

Add Extra Value to Your Premium Package

Want to justify those higher prices? Think about offering extras that don’t cost you much, but add big value to your customers. For example:

• Warranties: Providing a service or product warranty in your top-tier package gives customers peace of mind.

• On-time guarantees: Many HVAC or plumbing companies offer discounts or freebies if they're late. You could include something similar to show you're committed to quality and timeliness.

These little add-ons don’t cost you much, but they create a perception of higher value. And don’t forget—communicate these perks clearly. A lot of business owners don’t mention the small details that elevate their services, and that’s a missed opportunity to show your customers why they should pay more.

The Real Kicker: Some People Will Always Choose the Best

Here’s the real kicker—there’s a segment of the population that always chooses the most expensive option, just because they see it as the best. Their identity is wrapped up in buying top-tier products and services, and they won’t think twice about picking the priciest package you offer. By simply having a high-ticket option on the table, you’ll naturally attract these customers without any extra effort.

So, next time you’re setting up your packages, don’t be shy about including a higher-end offer. You’ll likely be surprised at how many people choose it!

I hope this gives you some ideas for your business. Go ahead and test it out—offer those good, better, best packages, price creatively, and watch your sales grow. Now, if you’ll excuse me, I’ll be brainstorming more business ideas here in my cobweb-filled horse barn!