How To Sell Services To The Ultra Wealthy | Ep 957
3/31/202620 min
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Are you selling what your clients value or what you think they need? In this Q&A, Alex Hormozi helps two very different businesses break through their growth barriers. From scaling a membership model to creating high-ticket offers for ultra-wealthy clients, Alex offers the strategies necessary to increase revenue, streamline pricing, and boost customer loyalty.
In this episode
00:00 The sticker membership cashflow problem
04:39 Solution: selling the annual offer upfront
06:08 Adding physical products as bonuses
09:34 Pricing services for the ultra-wealthy families
12:54 Why the undifferentiated pricing ladder fails
14:00 Solution: adding an annual continuity to the offer
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Clips
Transcript preview
First 90 secondsAlex Hormozi· Host0:00
Welcome back to the game. In this episode, I had a conversation with two business owners. The first one is a membership business currently doing about a million bucks in revenue per year and looking to get to three. Her main problem was that it's taking about six months to make a customer profitable on ads. So here's what we broke down on this call. Number one, how to structure a membership offer and bonuses to significantly increase LTV. Number two, we worked through how to do a mop-up campaign, so she can collect more cash up front from annual membership sales during her five-day challenges, which is how she sells people. My second conversation was with a service-based business that sells to ultra-high net worth families and family offices. They're currently doing one point six million in revenue and are aiming to hit ten million by the end of the year. We broke down exactly how I would restructure their pricing and add on an annual retainer that will allow her to sell more to her customers while adding recurring revenue. I hope this is super valuable for you. Enjoy.
Speaker 1· Guest0:47
I'm, um... I teach crafters and mostly women forty-five plus- You teach crafters? -who make things for themselves. Crafters make stickers.
Alex Hormozi· Host0:57
Okay. Love it. I love this. This is great. [laughs] Okay.
Speaker 1· Guest1:00
They're making stickers for themselves or for their family or to sell.
Alex Hormozi· Host1:04
Right.
Speaker 1· Guest1:04
So my business is made... It did over seven figures last year.
Alex Hormozi· Host1:08
Good for you.
Speaker 1· Guest1:08
And they're all low ticket.
Alex Hormozi· Host1:10
Good for you.
Speaker 1· Guest1:10
It did all right. Thank you.
Alex Hormozi· Host1:11
Okay, so you made a million plus.
Speaker 1· Guest1:13
High between- Okay. Yes.
Alex Hormozi· Host1:15
Amazing.
Speaker 1· Guest1:16
So high between seven dollars and two hundred and seventy.
Alex Hormozi· Host1:19
Okay.
Speaker 1· Guest1:20
And the main continuity I have is the, is a membership. It's my main twenty-seven dollar a month or two hundred and seventy per year membership.
Alex Hormozi· Host1:28
Okay.
Speaker 1· Guest1:29
I really