New Home Forums Course Ideas & Outlines Profitabilty and pricing?

5 replies, 4 voices Last updated by  Bradley Morris 6 years, 5 months ago
Viewing 6 posts - 1 through 6 (of 6 total)
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  • #10440

    Karryn Olson-Ramanujan
    Adventurer
    @Karryn

    Hi folks,

    I am wondering what price ranges folks are charging for ecourses? I am new to this model of delivery so not sure what the ranges are.

    And how about enrollment numbers (I know it depends on many things, but just wondering if there are any ballpark numbers… looks like you used JVs pretty well, and I’m sure that makes a big difference. Some of my jvs didn’t come through, so am now much clearer on how to invite and support them to rock for our mutual benefit).

    I’ll be offering entrepreneurial skills, so assuming I can charge on the higher end for that. That said, my ideal clients are not typically flush with cash, and my current niche (women in permaculture) is quite small. Am totally open to throwing it open wider, and welcome input on that.

    Thanks
    Karryn

    #10461

    Andy Freist
    Mountain Guide
    @andyfreist

    Hi Karryn,

    This is such a loaded question. And an important one at that..

    Pricing depends on so many factors..

    The more of a pain you are solving, and the more people are willing to pay to fix that pain, the more you can charge for a course.

    Most business courses are $500 on the low end, and go all the way up to $5,000+

    It all comes down to how well you are able to articulate the transformation they will be receiving/experiencing – and that change must far outweigh whatever the price tag is – and, very importantly, the price tag must reflect the value.

    No one would buy a $50 course on how to create a six figure coaching business in one year. That just doesn’t add up. A course like that would expected to be expensive. I would think “wow, this must be a really basic and not very valuable course if its that inexpensive”

    And no one would buy a $1000 course on how to organize their time more effectively. BUT someone would definetly buy a course for $1000 that teaches how to save $10,000+/yr through a complete workflow organization system.

    The ROI must be clear, and it must be a no-brainer – but it also must reflect the value, and reflect the belief that you KNOW the value you are offering..

    I know I am not giving you a clear answer – because there is no clear answer.

    Step one is knowing and embodying the true worth of your work.

    Once you know it and believe it 100%, then picking a price is easy.. If you dont believe its worth it, no one else will. And if you believe that you selling yourself short, no one else will believe your cheap course could possibly solve their problem, so theyll look for another more expensive one that will 😉

    #10520

    Bradley Morris
    Mountain Guide
    @bradleytmorris

    I concur with @andyfreist. Great question you’ve asked here @karryn… and a challenging one with no real answer, other than the one you will come to as you choose your course and climb this mountain.

    The one thing I also want to add from what Andy said is that in choosing a price you must KNOW your target audience. For us, we wanted to target the more conscious, holistic, transformational, personal-growth minded people. Like you, we also know that a lot of these people don’t have massive bank accounts, so we are committed to offering our course at a price that they can afford.

    We will offer high level packages for people that want to hire us for consulting or private eCourse Creation support. But the bulk of our sales will be through the Great eCourse Adventure.

    Another thing to think about is WHERE on your journey up the mountain is your eCourse? Is it more valuable than coaching, or workshops? Is it an introductory course or is it an advanced course?

    These are all things to consider.

    Please ask more questions if you have any. Happy to dive deeper and flush out more clarity 🙂

    #11907

    JoAnn Turner
    Adventurer
    @JoAnnTurnip

    Hi Karryn, My thought would be to browse around at what other people in related areas are charging, and also what their courses consist of. This isn’t your final answer, but it can show you what your target audience is used to so you can start to narrow that down. If most courses about permaculture businesses are running under $200 and are only a few sessions, you may find it hard to get traction with a course that’s 12 weeks long and costs $1200 Even so, as Bradley and Andy say, this is not an easy thing to sort out.

    I’ve been taking online art classes over the past two years, partly just to see what’s out there, how people organize and pace their classes, and how much they charge. They can range from $50-100 for a very small focussed class, say 2-4 hours creating one project, up to hundreds of dollars for a course that runs for 6 weeks and involves recorded downloadable videos, pdf files and live webinar sessions or coaching. But there’s a ceiling on how much people are prepared to pay for an online art class.

    One of the most successful classes I know of is not expensive at all for what you get, 80 pounds sterling for a year’s worth of weekly lessons, but it makes up for it in volume of students, and in cross-promotion amongst the more than 20 instructors. They all advertise on one another’s websites, and they all have e-courses, retreats, workshops, books and other products that sell to the students who’ve signed up for this one class, which acts like a central hub for a network of artists and art teachers. The organizer will gross over a quarter of a million pounds sterling for this class alone this year. It’s a lot of work for her and she has lots of expenses, I’m sure, but it also acts as a “loss leader” that gets people into the network. And she knows her market very well by now. Her students quickly become one big happy puppy pile of mutual love and encouragement, as well as satisfied with the work we do in the class.

    And just as we’re learning in the Great E-course Adventure, it’s all about the transformation, not about the overt content. She has students in this class who’ve been with it since 2012 and also taken her other single classes or courses, or branched out to other teachers. She’s developed tremendous loyalty. So it’s all about how these classes are making people feel, about themselves and their creative ability, and that’s her brand and her message.

    So there are lots of approaches that seem to work, and many factors that play into how you set up your business and how you set your pricing.

    #11954

    Bradley Morris
    Mountain Guide
    @bradleytmorris

    I loved what you shared @joannturnip. So on point.

    The sentence that stood out the most was: ” it’s all about how these classes are making people feel, about themselves and their creative ability…”

    I love all the unique perspectives we’re going to gain going up this mountain together.

    Thanks for sharing JoAnn!

    #11956

    Bradley Morris
    Mountain Guide
    @bradleytmorris

    I loved what you shared @joannturnip. So on point.

    The sentence that stood out the most was: ” it’s all about how these classes are making people feel, about themselves and their creative ability…”

    I love all the unique perspectives we’re going to gain going up this mountain together.

    Thanks for sharing JoAnn!

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