What is a Value Ladder?
A value ladder is a method of mapping out your product/service offering visually in ascending order of value and price. The value ladder allows you to cater to your client’s needs no matter where they are at.
The Value Ladder is divided into 4 to 6 parts:
1. Free Thing (Lead Magnet)
2. Introductory Offer (Tripwire)
3. Core Offer (Main Product or Service)
4. Profit Maximizer (Value Added Bundle or Expensive Thing)
5. Backend Offer (Backend Support)
6. Continuity Offer (Weekly or Monthly Subscription-based offer).
This article focuses on professional caterers’ value ladder.
Why Value Ladder for Food Catering and Vendors?
The idea for this article came after several years of working with clients in various industries.
The need to share this article is to help upcoming catering professionals create multiple streams of income from their skills.
Now on to the article on how to map out your value ladder…
Here’s an infographic I designed:
Value Ladder for Nigerian Caterers:
Lead Magnet: Videos and Pictures of Meals on social media
Tripwire: Daily Meal — N1,000 naira
Core Offer: Meals for 500 guests — N350,000 naira
Profit Maximizer: Meals for 1,000 guests — N600,000 naira
Backend Offer: Utensils Rentals — Any amount
Continuity Offer: Weekly and Monthly Subscription — between N5,700 to N22,000 naira.
Hope this article helped you in creating multiple streams of income for your catering business.
The value ladder is just one step.
Getting potential clients to notice you, like you, trust you and order your products or services is the hardest part.
Need a strategic marketing funnel strategy to boost sales and awareness online?
Then book your 2-Hour Marketing Strategy session with me for N40,000.
During your 2-hour strategy session, I will…
1. Have a clear understanding of where your business stands right now.
2. Define a goal for your business over the next 6 months.
3. Develop your road map for achieving your monthly goals.
4. Map out your entire sales funnel and craft your customer journey — from lead generation to sale. In your preferred software.
5. Advice on your pillar content pieces for sales pages, ads, social media posts and email sequences etc.
6. Discover easy list building strategies to grow a following and build your community.