A value ladder is way of organizing the products and promotional offers of your business in a way that encourages escalating commitments and purchases from leads and customers.
In your sales funnels, email marketing, marketing calls, presentations etc. You don’t want to give away everything at once – it’s overwhelming and desperate.
Instead, you first give value in return for a lead’s attention – usually in the form of an email or phone number. Then, you drip valuable information or resources to them and pepper in promotional offers for your products. This is commonly used to warm customers up to more expensive purchases by first offering less-expensive, high-value products.
This works offline as well – if you’re a dentist, for example:
- you can offer a free whitening with cleanings for the next few months
- Take before and after photos for your clients
- Right after the whitening and before the cleaning, you can offer a take-home kit or follow-up appointment at a discounted price
- Book them in, giving them a printout of the before/afters to remind them why they should come back
- After the next appointment you can offer a higher-value product and they’ll be more likely to buy than if you tried to sell it to them off the bat – that’s the ladder
- Ease: Tough
- Cost: Free
- Scope: Small
- Speed: Slow
- Reach: Global