Episode 203: Pricing – The Magic Sauce to Make or Break Your Online Course Sales

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Episode Notes

What should you price your course? That’s the million-dollar question! In this episode, let’s talk about some of the factors you should consider as you pick (and test!) your prices.

RELATED EPISODES

E049: The Price Is Right: How to Use the 3rd P of Course Marketing
E106: High Ticket vs. Low Ticket Online Courses
E117: Is Your Market Different with Neil Thompson of TeachTheGeek  

KEY TAKEAWAYS FOR ONLINE COURSE CREATORS   

Things to consider: 

First, your students have to do the work to get the results (no matter what price you choose). And if they do at least 80%, you should get them results. 

Second thing that can happen – your course or program is not the right fit for the message or the audience. 

Third, your methods may not work for some students. 

So fourth… make sure you know who your methods work and do not work for. 

Fifth, pay attention to your students’ experience-level and expectations from your marketing. 

Value vs. Price

Here are some of the things that are in-between today and the transformation of your course (the value to them):

1. It’s just a dream or imagination right now. The student may not believe they can get there.
2. They may not yet believe YOU can get them there.
3. They may not believe THEY can get themselves there. Will they do the work? Have they done things in the past that didn’t work? Do they have the discipline?
4. They may not believe in your program… yet.
5. There may be other things they want (or need!) to spend their money on more. Especially right now, I see people being more careful about what they are buying.

Practical pricing advice:

1. You must be totally confident in your price!
2. Work on your messaging to reinforce how do-able your program is. Help your potential students see themselves making the journey with you at their side.
3. Use testimonials around all kinds of things – the way you work with them, the results people get, the confidence they built, even one step of your program. All those things build evidence and belief.
4. How can potential students test-drive working with you?
5. This one sounds a bit harsh… but especially if you are selling high ticket, are there ways to help people self-select what program is best for them. There’e more on this in episode 106, when I talked about how you want to sell.
6. Include FAQs to help people decide if you are the right fit and whether it will be the right audience. Make sure you say who the program is NOT for.
7. Stop focusing on what YOU would pay.
8. Set expectations – balance them with sales messaging.
9. Test, test, test!

COME VISIT!