Shelley Young breaks down essential high-ticket sales terminology for closers and setters. Learn what OTE, PIF, and PTP mean, how to spot high-ticket deals, and why understanding your pipeline and lead types matters when you're starting out.
Hi, everyone. Welcome back. In this video today, I want to go through all the confusing terminologies that you've probably seen all over YouTube, all over Instagram regarding high ticket sales. And you're probably thinking, what does that even mean? You want to get into the industry or you've just joined the industry? But all this lingo is a little bit overwhelming. Trust me, I've been there. When I joined sales, I literally had no idea what anything meant at any point. And you kind of feel stupid asking those questions because everyone just said says all these phrases and abbreviations so casually. So I will go through what they mean for you today and if there's any I've left out, please let me know in the comments and I will answer those for you. So let's get into it. Number one is ote. That stands for on track earnings. When an offer is advertising for a sales rep, like a job post, they will often say OTE. So on track earnings is X. So let's say 5k per month. That's like the average earning that they are predicting that you would make within their team. Now this is a whole nother video, but bear in mind, majority of offers actually inflate their ote if not all offers. So bear that in mind. A lot of times someone will say like 20k OTE and it's really like 12. So you got to do your due diligence when vetting offers and making sure it is the right one for you and your goals. Next is pif, which means paid in full, which all that means is the prospect. The person who has bought your product has paid the full amount then and there on the call. They paid in full to pay. To pay just means split payment, two lots of payments. Let's say if the ticket price is 10k, they paid 5k today and maybe they're paying 5k next month. High ticket is just a high ticket price tag. Typically anywhere from $3,000. Really there's no, there's no limit. But typically in this industry it's from three to like $50,000 for a ticket price. Next would be offer. An offer is literally like a job. An offer is a company that you're working for. So currently I am on a tech offer. It's just a shortened abbreviation for. Yeah, a company selling a high ticket price tag. Inbound. Inbound is leads coming to you, they're coming in, they're coming to your calendar, they're coming to your DMs, they booked a call, they are showing interest to you. All closers are typically inbound closers because when you get to the closing stage you have inbound opportunities coming to you. Even as a setter, you will majoritatively most of the time have inbound leads coming to you who have displayed interest that you need to convert for the closer. Outbound. Outbound is out. You're going to them, you're finding the leads. Outbound is the worst. We do not want outbound opportunities. We do not want outbound leads. This is very different to dialing a pipeline of leads who have showed interest in the past. I'll also just explain what pipeline is, but outbound is when you're cold calling. When you're calling leads who have no idea who you are. Some people love that role. But that's not for the faint hearted. I wouldn't recommend it. You want inbound opportunities. Don't get me wrong, it's still you still have to have skill to deal with inbound opportunities. But at least you know you've got a much higher chance of actually making money because that person actually knows who you are and wants your service. Pipeline is literally just a bucket of leads that have been collected over time. Whether you've had sales calls and they've no showed or they have not closed or they've had leads who have opted in to a marketing campaign and they're all in one place and you have a whole list of all these names and numbers of people who have displayed interest. That is your pipeline. As a closer and as a setter you will go through your pipeline dialing leads when you have no shows. So setters dial leads full shop. That is their job. But closers is if you're not doing this, this is how you can increase your commissions. When you have no shows, pick up the phone and dial the your pipeline you can collect. I genuinely raised so much money from dialing the pipeline and no shows, getting people back, recycling leads, getting them booked back on your calendar. So definitely would recommend doing that if you want to increase your commissions. I believe that is everything. As I said at the beginning, if I've missed the terminology out and you're interested, please do let me know. But they're the main ones that come to mind for me when I'm working with women who in my sales training who ask me questions about what these abbreviations mean. So yeah, I hope you've enjoyed the video. I hope it's been helpful. As always, feel free to send me a DM on Instagram if you have any questions. And my link for my sales training is down below if you want to book in a call with me. If you're looking to get into sales or. Or if you're looking to increase your skill and commissions, if you're already in sales. Bye, guys.
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