How to Price Your Online Course - Bad Pricing Makes Things SO DIFFICULT

[@Thrivethemes]

Check out part 3 - how to turn your know-how into an online course: kzbin.info/www/bejne/eIuWnpqGhbqXZs0

[@GetSongsDone]

was this 2% of all traffic, or 2% of your email list?

[@CreativeIncome]

Spent one entire quarantine day watching videos on this subject. Got to say yours was the best and most honest one. Congrats!

[@Thrivethemes]

Thank you! That's very nice to hear. :)

[@BenjisDad]

This is by far the best explanation for pricing a course and I've watched a few dozen videos. Leave it to Shane and thrive to deliver the value. Thank you.

[@theinfamousjoel4551]

agree

[@KishorSridhar72]

I used to work for a price research company, but your explanation is better than those of high paid consultants. Just brilliant

[@TreyJones]

I never comment on videos lol! But I have to say.....Man. You saved me!....I wanted to charge 199 for my course and reduced it to 99. (The course hasnt launched yet.) Now I am understanding the big picture. The people who will spend 99 will probably spend 199. The conversion rates just dont drop off enough. I have under charged for my coaching services this whole year. lmao! I wont make the same mistake on my course! Thanks dude! Keep doing your thing!

[@johnlibonati7807]

Hey trey. How did it go?

[@JagjotSinghNonDuality]

Awesome! Did the new pricing work for you??

[@BulldogMindset]

Excellent video, Shane. This is one of the big reasons why I am such a supporter of your products for so long. You provide real solid value.

[@Thrivethemes]

Thank you!

[@Sahrokh]

Wow, I did not think I'd find you here!

[@VincentNoot]

Great information. I've seen tons of courses, though, in art, music, etc. that will sell for $300-$800.

[@OmardelaFuente]

You are the best Shane. Some people in my country gets thousands euros to teach less than you in one video. THANKS.

[@Thrivethemes]

Thank you, Omar! So, you're saying I should come visit? What country is this again..? :)

[@OmardelaFuente]

@@Thrivethemes Spain...but I guess this doesn't happen only here ;)

[@gustavophysio]

This must be the most honest content on online course pricing strategy. Thank you so much.

[@tullochgorum6323]

By far the best approach to pricing that I've seen. A number of coaches only focus on the reach issues, and push you towards very high prices. But they don't address the production and credibility issues. In reality they only began to charge these high prices once they had built a strong track-record, pulled together a high-paid team and started a legitimate registered company. At start-up, most of us can't show anything like this to build enough consumer trust. Plus they aren't generating passive income - their premium priced products generally involve real-time coaching by them and their team. So they are basically building a demanding full-time business rather than a side income. For the solo business that's just starting out, I suspect that $180 - $380 is the sweet spot, as you say. The optimal approach might be to start at $180 and incrementally work towards $380 as we gather more reviews and other trust builders, carefully monitoring conversions rates at every increment?

[@stephanied.williams812]

Thank you for the inspiration. I was lost and now I feel empowered to continue with my online business.

[@MovewithJenna]

High ticket sales seems to be a trend / cult these days and this video shares very practical, data based insight. Thank you!

[@hmetkaya04]

This really was one of the best videos I've seen in quite some while. Thanks Shane a million times! Keep up the good work

[@Thrivethemes]

Thank you very much!

[@warmachine2680]

So full of value this video. Not just the pricing part but also the part when online course is to be used as foundation

[@ToriNunley]

When I tell you I have never felt so confident to move forward on my course that’s been in my mind for years I feel like I can finally implement just from watching this video, thank you so much for the details I’ve been looking for this I am now an official subscriber of your channel

[@robinfletcher6718]

great vid. I appreciate your straight forwardness and no hype style. Refreshing. My coarse is, When to act on a hunch: Four steps on how to trust your intuition with unshakeable confidence. I've already created it but need help launching and video editing.

[@simonandrew3103]

Thank you, I am in the communication business and I can only compliment you on the excellent quality and value of your work

[@VelocityWriting]

I have been aware of this principle for a few years. However, you have done an exceptional job of presenting it easy to understand terms. Thank you.

[@maxjaks7425]

I just discovered your channel... I am impressed by the explanations! Simple, clear... Great! I am definitely going to watch your other videos!!!! Thanks for your work and for sharing! Best, Stéphane

[@ndube4589]

One of if not the best video on pricing

[@123MeditationClub]

Great advice Shane. Just finished my first course on meditation on Thrive Apprentice and this advice is gold! Will sell for $70 as its a very basic but thorough course for beginners and look at making a $200 course once this one takes off. Thanks again, Joy

[@Thrivethemes]

Congratulations on completing your first course!

[@codinginflow]

What if almost half of my followers come from low income countries? I have a reputation of high quality but I feel like 200$ is way too high for my viewership.

[@gerardpatrick8960]

The strategy I use on one of my courses is to offer a discount to applicants from World Bank designated low income countries. I also offer a discount to those applicants who are unemployed (the application being made through their social welfare office).

[@codinginflow]

@@gerardpatrick8960 Good idea, thank you very much!

[@famprima]

Work on your mindset. You are your own obstacle. Your customers mirror how you perceive yourself.

[@UYDesigns]

Two Words : Mind Blown. Thank you so much for sharing this valuable knowledge. This is the stuff no one tells you.

[@janicebowles27]

Brilliant! Thank you. Just loved that 'sweet spot' point. As a Thrives Themes member I just love the whole ethos of this company. Your training is second to none making the Thrive Suite excellent value.

[@alexdez9186]

I trust you guys alot. I was getting worried about how much to price my minicourse but I watched this and it helps me get things into perspective!

[@himalayanbowls]

Excellent. How can you factor in acquisition cost?

[@WiFiGuy]

This is so perfect and so logical. Thank you!

[@FredGillen]

Just added a 12mth option to our monthly subscription, money up front :).... sold 2 in less than 24hours, thanks Shane, you rock

[@Thrivethemes]

Nice! Congrats on taking action right away. :)

[@eduardobatasuna8398]

@Fred Gillen let me see if I understood, besides the $200 one payment you added an option of splitting this $200 in 12 months (without interest)? Is that still profitable? Thanks in advance :D

[@FredGillen]

Eduardo Batasuna it was the other way round , we had a monthly subscription but now allow multiple months to be pre-purchased in bulk

[@Rompelarueda]

Great video. Didn't know that you were behind the Thrive products nor the name of the channel until you said so. Great info, thanks

[@jameshhealy]

Another great video, love it and perfect timing. I am thinking about creating a course for innkeepers and small hoteliers, "how to get more positive reviews."

[@Thrivethemes]

That could be really valuable to those customers!

[@esl_fluency-mike]

That is superb! One of the most informative videos I've seen on selling online courses.

[@rezasalehbass]

Appreciate you went straight to the point clearly. Thank you

[@susanj.bethea5115]

Thank you so much this has been one of the most informative, easy to follow, and eye opening videos I have watched in a while. You are very knowledgeable and very practical. God bless.

[@Thrivethemes]

Thank you very much, Susan!

[@JuanHernandez-ze3si]

I love these types of videos, straight to the point, clear and intelligent. Thank you.

[@stephendesmond6333]

This is a superb, informative, insightful video.

[@FHIPrincePeter]

Total quality advice here. It put into words and made concrete what was floating around in my mind.

[@RickMitchell-Invictus]

Wow, I got a lot out of this video. I've literally paid for videos/tutorials with far6 less value. Thank you for making this!

[@donstrumental1]

When the student is ready, the teacher appears. Thank you!!!. So helpful.

[@faceformers]

Thank you so much! This was VERY helpful. I love your straight forward data backed pricing strategy.

[@Megankerry888]

This is such fantastic info! I’m launching my first course in April and this was the clearest information I’ve come across for pricing. Thank you 1000x!

[@jojsithole3530]

Hi. I have watched many but you are the best. You simplify things & make it easy to implement. Thank you so much.

[@veronicataylorsfp]

I’m so thankful to have found you right now, whilst I’m right in the process of building my launch strategy!! Thank you for sharing this - extremely helpful

[@davidpatrickgreen5319]

I don't know if the 200 price point is accurate for all markets and all audiences but it's a great confidence builder that there is a sweet spot for every niche. Maybe you start with the $5 product and keep raising your prices until it maxes out and then improve the product and then test the price out and so on until you find your personal sweet spot. Does that make sense. I am interested to know if there is a marketing formula that applies to this sweet spot as obviously your marketing has to match your product/pricing to a significant extent. Thoughts?

[@MojtabaNoor]

Amazing explanation! Thank you

[@saidmellouli8037]

A great one, clear, direct, simple, thank you man !!!

[@allcome8469]

Thanks for sharing valuable information 😀 👍

[@josetruchado6244]

This video is fantastic, great analysis on pricing and easy to understand. great work!

[@sunstarmoon3958]

Amazingly insightful! U were awesome n best, Period!

[@HarryJamison]

Thanks Shane. This helps because I decided to create a course (18 Feb 2019). My approach was different and seeing this video doesn't change my approach for THIS course BUT..........it is sound advice I WILL follow for future courses. Thanks again. (I just subscribed to this channel)👍👍

[@raynellbell2428]

This is fantastic!! Does this still hold in the current explosion of online courses?

[@shahinahmed8991]

A very informative video I have ever seen. Thank you Shane.

[@Thrivethemes]

Thank you, Shahin!

[@CourtneyLSanders]

Great video Shane! The content is very clear and informative!

[@alancox2347]

Thank you Shane. Once again you have provided a fantastic amount of insight. And thank you for sharing your experience.

[@Thrivethemes]

Glad you liked this video!

[@ConnorKenny]

this is a great infopreneurship video my friend, your channel should be much bigger, you have me as a subscriber

[@katon2459]

Thank you very much! I learned a lot from this video!

[@mariasoeters]

Such an insight video. Thank you for sharing!

[@zinaidagabriel6427]

Clear and concise. Thank you! I am a new subscriber )

[@NadiaDubininaValues]

Thank you very much! How many hours of video content do people usually expect from a $200 course?

[@36126128]

Thanks Shane will be building a course on Complex Problem Hacking

[@JacquiMwangi]

Great video - easy. to understand and it makes sense. Thank you!

[@DeborahCannizzoOrtega]

I'm in love with you Shane!!! you are the best!!!! Thank you so much.

[@sheafisher3578]

Awesome content! I’ve actually already decided to price my first course at $197, so to see that your discovered sweet spot is $200 I was jumping for joy. Also, what’s the song at the end?

[@bedois2k3]

"in so many cases that's the best way to start even if you have other ambitions..." Thanks for that...

[@richardhooper3362]

Fascinating, very useful and focused. I might be overcomplicating my potential course!

[@AIRecruiterTraining]

🎯 Key Takeaways for quick navigation: 00:00 *🧠 Importance of Pricing Strategy* - The significance of having a clear pricing strategy to avoid self-imposed obstacles in business. 01:09 *🎯 Calculating Reach and Conversion Rates* - Illustration of determining the number of sales required to reach a specific revenue target based on different price points. - Discussion on the correlation between price, conversion rates, and audience reach. 07:20 *📈 Non-linear Relationship between Price and Conversion Rate* - Explanation of the non-linear relationship between pricing and conversion rates. - Exploration of psychological price points and their impact on consumer behavior. 10:44 *🏗️ Logistics Problem in Pricing* - Discussion on the logistical challenges associated with pricing, particularly regarding product quality and audience reach. 14:32 *🎯 Identifying the Sweet Spot* - Introduction of the concept of the "sweet spot" in pricing, emphasizing a balance between audience reach and production effort. - Recommendation for a $200 price point for online courses based on analysis. 17:05 *💡 Starting with Online Courses* - Advocacy for starting a business with selling online courses due to their comparatively simpler setup and potential for foundational growth. - Personal anecdote emphasizing the role of selling courses in building entrepreneurial skills and revenue for future ventures. Made with HARPA AI

[@36126128]

Thanks Shane, I do appreciate these insights. It is indeed valuable to my new online course.

[@Mmo2718success]

excellent, open my eyes... big thanks...

[@self-developmentmadesimple]

Thank you, Shane. I am using Thrive Themes to build landing pages and squeeze pages and sales funnels for my ebooks. Thank you for building something that is far better, and less expensive than ClickFunnels.

[@n1gr082]

What a great content. Thank you for sharing your knowledge with some practical information.

[@teachermelodyeslinternatio3519]

so helpful! Thank you!

[@oceansep4103]

We’re selling a product $1199 with a 4.2% CTR I think the ‘sweet spot’ is determined by the copy in my opinion. Great info for those starting out though 👍

[@aowsdayoub8464]

Thank you so much for opening my eyes on such new and important aspects! But I have a question and I'd be so glad of you could answer me, how do you deal with the idea of competition, if you're new to the market but there are others who are teaching the same subject let's say, how do you calculate the effect of that competition on your price? How do you get customers to trust you?

[@Thrivethemes]

Not Shane but Tony here. Still, would love to chip in on this because it's a great question. How I would go about this... I don’t think you should base your price on the competition. Instead, base it on the value to the user. Just because YOU know what the competition is charging DOES NOT mean that a user on your site does. The world is a big place. Now, that's not to say that you can't look at what others in your niche are charging for a course that includes X, Y and Z and see how that value offering compares to yours. - Tony

[@patrickfalls6819]

Thank you for a fantastic explanation. Where does one generally go to get reliable e-commerce conversion rates by product or market?

[@davidpopaart]

INSANE AMOUNT OF VALUE!!! Thank you so much!

[@Thrivethemes]

Happy to know this was valuable for you, David! :)

[@farookhsensei2727]

Excellent - best explanation

[@jonl.b7168]

Great video and information. Thanks, Shane!

[@fireman4015]

Shane, Great video thanks for the info. I am a recent user of Thrive Themes and I have to say that because of the practical and to the point videos and walkthroughs you have both on KZbin and in the University, I am finally getting great results with building my pages! Thank you so much for the added content like this, it is great!

[@Thrivethemes]

That's awesome! Thank you, Frank. :)

[@pushREC]

thank you so much for your hard work Shane and everyone at Thrive Themes!

[@Thrivethemes]

Thank you!

[@juanl195]

This video is just amazing, thank you so much for all the information. It is truly valuable

[@max_performance_solutions]

Awesom video and presentation! Thank you

[@MCEnergyAcademy]

Thanks so much Shane, really making things clear again. Great to know now because I just start to promote two courses with a lot of videos. You are a great teacher! Up to your next video! I am always eager to learn.

[@Thrivethemes]

Thank you! Glad it was helpful.

[@violetpalmer1775]

This is a really helpful video. Thank you!

[@superfotis1361]

THANK YOU, SIR! Just the answer that i needed.

[@tennisfitapp]

Yes! I have 197 USD top online tennis courses and the sweet spot explained here works great for me and my clients as well! Good video and thanks for good info! 🙏🎾

[@enzoinfinity1]

finally someone providing conversion rates and value. Realest guy here

[@iiiiiivviviiTV]

This was super helpful, thank you so much for sharing this!!! Just Subscribed :)

[@Thrivethemes]

I'm happy to hear that!

[@annareinhard5196]

You are a genius. Thank you

[@samoizgore]

Shane, thanks for all your videos. I'm thinking to make some courses about rehab after injury.

[@Thrivethemes]

Sounds good! Definitely an urgent and important issue for someone wanting to get back into training.

[@kimrong4488]

Really interesting video and just at the right time. I'm using the Thrive membership including Apprentice to make my first online course. What're your thoughts on tier pricing for online courses? and great editing software, I'm in the market for a good one and I love the way it looks. Which one did you use for this video? Thank you very much for making great software and teaching us, because of you and your passion, you've enabled mine.

[@Thrivethemes]

Thank you, Kimron! Tier pricing can be good, if it's done right. It's important that it doesn't feel like you're slicing one thing apart, to charge different prices for it. The value that separates tiers has to feel fair and logical. I've used Adobe Premiere for the video editing.

[@martinddsmith]

Thanks very much-so insightful. I'm putting together a Finance course for non-Finance Managers. The videos will have animations, as well as me presenting. Thanks to this video, I'm thinking of breaking down the course and start selling one for $200 (introduction to Finance and Effective Budget).

[@hermank9647]

Thank you very much, sir!

[@andy9435]

Honestly....I have a few channels I follow on YT which are simply worth thousands of dollars in terms of content. Shane's content is one of them. Others, i'll keep to myself ;) I love Thrive Themes...amazing software to make a shit tonne of money when used properly!

[@Thrivethemes]

Thank you, Andrew!

[@makelifeholistic]

Thanks, that was clear and helpful.

[@jlsbranding8569]

Thank you very valuable information

[@LisaKellner]

excellent video, thanks!

[@2000Books]

Great stuff Shane!

[@Thrivethemes]

Thank you!

[@juliesaadwellness]

This came at just the right time. Thank you!

[@Thrivethemes]

Glad you liked it!

[@salahsamirFC]

the most valuable and best explanation i have watch it. thanks for your effort. my question is. the CR is the same at any country with any kind of courses? thanks ❤

[@Techonsapevole]

Amazing thanks, very valuable.

[@Frank-Felker]

Shane - when are you going to reopen the Couse Craft course?