Agree. Sadly it's the way things go with these types of companies. You get used to the owner and their style ... then all of a sudden they become unreachable. They "scale" their business and then you're left communicating with zendesks, team members etc.
Great content as always Shane! I can attest to the effectiveness of the $200 price point--I've been selling an online beginner guitar course successfully for five years at $189. Having a sharp looking website using Thrive's tools has also been instrumental to my success 😊 . Next month I am launching a "higher ticket" course + coaching program and am beyond excited!! Thanks guys! --David O.
Shane, thanks so much. What a great piece of content! I have launched an online course just 4 hours ago - exactly at the sweet spot :) I love our content and working with thrive themes!
These videos are so good so informative. I especially love the part where you don't need to go viral or have millions of followers to be successful in creating a course. I am in the process of creating a course teaching women to sew clothes that fit them and their style I have already validated and presold that one and I wish it was using your rapid launch method. But I want to release another one on clothing alterations... I will probably use this method for this one.
As far as I can agree with the content of the video, the figures mentioned, and the calculations, there is one factor in the area of high ticket prices which should be taken into account: Value of outcome. What is the outcome that buyers achieve at the end of the course really worth? And there is certainly one exception: High-ticket courses linked to coaching. If the outcome solves a real problem, a problem that burdens the customer's life and causes disadvantages and consequences as long as the customer does nothing, then a much higher price is justified to solve this problem for/with the customer. And these customers usually don't have the time to shimmy through a sales funnel with a few cheaper products, all of which touch on their problem, but don't solve it. These customers need a solution and help, and they need it now. Therefore, in my opinion, the exception to the examples given in the video is a coach, which can deliver these results. In this case, the production costs are also quite manageable by the coach. And the last important point: If a coach sells 5 courses at $2000 dollars, not only can much more direct support be achieved for the customers, he can create a true VIP experience for his customers. The effort for support is much more manageable than for example with 1000 customers.
I think this is true, but only if you discount the value of the coache's time. If you are in a situation where time is abundant and money is scarce, then this kind of coaching offer is indeed very attractive. But if you reach then limit of people you can coach yourself, you'll see that the production cost is actually not low at all. Systematizing the process and hiring people who can do the coaching for you tends to be very costly. It's a great way to bootstrap to a more hands-off business, though.
Thank you Shane for sharing your insights! I'm writing a book right now on How to NOT Suck at Presentations, it's a guidebook to help people be better presenters and avoid death by PowerPoint! Once the book is published, the goal is to launch an online course based on the book. Thinking out loud, I could start with a low-ticket item of the book, then build up interest for the course at the sweet spot range.
Love it! This is a topic I'm passionate about as well. :) Yeah, this is very well suited for a course. I'd say a course is a better medium for this than a book (although a book is great, too - definitely do both).
Didn't this video exist already? I swear I saw this content a couple days ago. Going to check it out, thanks, looking forward to the rest of the content, Shane 👍
This is an updated version of a video I originally made a few years ago. So yes, I have taught this concept before. I think this video is shorter and clearer than my first one. :)
It's not really about the length of the course. If you can help people attain a highly desired outcome, the course is valuable. Whether this happens in the span of 10 lessons or 100 lessons is besides the point. The way I approach it is with the question: what is the most effective way I can get my customer from where they are to where they want to be? And I make as few lessons as possible and as many as necessary.
Great tutorial! I have considered producing online art courses, but there are already tons on RUclips. Have you found that certain subjects don't sell as well due to availability of free versions?
The availability of free content isn't an indicator that a paid course won't sell. Take the fitness industry as an example: there are millions of free videos and articles available on this topic. But there are also countless fitness course businesses that are doing extremely well. It's better to look at the market for paid courses. Are there people buying courses in your niche? Are there successful course creators and course businsesses? If yes, then there's an opportunity in the niche. As a side note: I have bought a few art and design related courses myself. So at least from a customer perspective I can tell you that there is money being spent in this niche. :)
This was so helpful!! Thank you :) I have a quick question that I hope you can help with. Would you suggest using $ USD as the currency for pricing your online course, even if you're based outside the US? And does the "sweet spot" of $200 translate to the same number in another currency or the same value? e.g. £200 or ~£160 for the UK
Weight loss is my niche sir.. Is it a good niche sir.. Does people buy weight loss courses when it is Truely delivering some quality messages to the people. Please kindly clarify my doubt sir..
hi Shane, thanks for the video! I am working on a 30 day challenge / experience for people in "how to be more as you really are " and it is about taking little comfortzone steps. But about pricing, is a challenge the same as courses? And if I do it as a Pilot for the first time? (Later price would be 197,--) first time with extra QenA some like 49? Hope you have a suggestion?! Have a great day! Edwin
Offering the pilot for cheaper is a good approach to validate and develop a course. In principle whether it's a challenge or a course doesn't make a big difference. What matters is this: can you bring people to a highly desirable outcome? People want outcomes. And if the outcome is highly desirable, then they're happy to pay for it. So if you can convince me that you can get me to the outcome, then whether it's a "course" or a "class" or a "challenge" or something else is secondary.
I love your video production quality .. I m also a beginner and plan to make a course. Do you have any video where you teach how to green screen and edit video as your video ?. How the half blue circle fade in and fade out.. how to say that and where to make or buy such rhing
I have a proven knowledge on how to eliminate anxiety disorder naturally, effectively and quickly and I am going to create a course in this topic using your teachings. Thank you Shane!
Amazing video. What about Udemy selling great courses at 10 dollars? Will they "kill" course business for the rest of us? (we can not compensate with massive traffic!)
Don't worry about that. Udemy has been around forever with loads of cheap courses. Most courses on Udemy match the price. I.e. they're not very high quality. And it's all about marketing. Just like the existence of cheap wine doesn't destroy the market for expensive wine, the existence of cheap courses doesn't destroy the market for expensive courses.
Shane was a boss. Pity we don't hear from him anymore though 😒 It's abit like what happened to Clay from Lead Pages. It's the cost of growth in this type of business.
Shane, I have 3 questions: The first one is about FB ads costs, how you suggest to spend per day in ads for (just en example) an expensive market as USA? The second question is about bonus. A lot of "guru" says that more free bonuses you give, more chances you'll have to sale your course. What you think about it? Finally, I validated for free (by the way, I did it with Apprentice) a 14 day intensive mentoring with up to 3 week Zoom live sessions, and I think it will works for a sale. In your opinion, the course craft could be valuable in my case? Do you give some online support or you answer students questions? I never worked with Udemy, but I did with Hotmart because I have a spanish spoken market and they pay all taxes and those boring things (yeap, they take the 12% of my income...). My biggest "fear" is about all related with taxes, VAT, receipt stuffs and all those thing, because I'm still a solopreneur and i really don't want to deal with hundred of programs like, zapier, stripe, quaderno or similars. Do you teach or help to resolve those troubles in your course craft? Thank you very much
![How Much Should I Charge for My Online Course? [Profit Price Calculator & Guide]](http://i.ytimg.com/vi/qaztN6Hk7dY/mqdefault.jpg)
![[#2024MAMA] G-DRAGON - 무제(Untitled, 2014)+POWER+HOME SWEET HOME+뱅뱅뱅+FANTASTIC BABY | Mnet 241123 방송](http://i.ytimg.com/vi/Ox29z5Nf1Uk/mqdefault.jpg)
I missed those videos from Shane. Glad we're seeing him again
Thank you!
Agree.
Sadly it's the way things go with these types of companies.
You get used to the owner and their style ... then all of a sudden they become unreachable.
They "scale" their business and then you're left communicating with zendesks, team members etc.
Huge respect for everything that you do Shane.
Great content as always Shane! I can attest to the effectiveness of the $200 price point--I've been selling an online beginner guitar course successfully for five years at $189. Having a sharp looking website using Thrive's tools has also been instrumental to my success 😊 . Next month I am launching a "higher ticket" course + coaching program and am beyond excited!! Thanks guys! --David O.
Shane, thanks so much. What a great piece of content! I have launched an online course just 4 hours ago - exactly at the sweet spot :)
I love our content and working with thrive themes!
Congratulations on your launch!
Thank you ! I watched probably thousands of Videos about online courses and this is by far the best
These videos are so good so informative. I especially love the part where you don't need to go viral or have millions of followers to be successful in creating a course. I am in the process of creating a course teaching women to sew clothes that fit them and their style I have already validated and presold that one and I wish it was using your rapid launch method. But I want to release another one on clothing alterations... I will probably use this method for this one.
As far as I can agree with the content of the video, the figures mentioned, and the calculations, there is one factor in the area of high ticket prices which should be taken into account: Value of outcome. What is the outcome that buyers achieve at the end of the course really worth?
And there is certainly one exception: High-ticket courses linked to coaching. If the outcome solves a real problem, a problem that burdens the customer's life and causes disadvantages and consequences as long as the customer does nothing, then a much higher price is justified to solve this problem for/with the customer. And these customers usually don't have the time to shimmy through a sales funnel with a few cheaper products, all of which touch on their problem, but don't solve it. These customers need a solution and help, and they need it now.
Therefore, in my opinion, the exception to the examples given in the video is a coach, which can deliver these results. In this case, the production costs are also quite manageable by the coach. And the last important point: If a coach sells 5 courses at $2000 dollars, not only can much more direct support be achieved for the customers, he can create a true VIP experience for his customers. The effort for support is much more manageable than for example with 1000 customers.
I think this is true, but only if you discount the value of the coache's time. If you are in a situation where time is abundant and money is scarce, then this kind of coaching offer is indeed very attractive. But if you reach then limit of people you can coach yourself, you'll see that the production cost is actually not low at all. Systematizing the process and hiring people who can do the coaching for you tends to be very costly.
It's a great way to bootstrap to a more hands-off business, though.
Thanks for the video! I appreciate your analytical approach. Will help me to make my own products prices.
Glad it was helpful!
Thank you Shane for sharing your insights! I'm writing a book right now on How to NOT Suck at Presentations, it's a guidebook to help people be better presenters and avoid death by PowerPoint! Once the book is published, the goal is to launch an online course based on the book. Thinking out loud, I could start with a low-ticket item of the book, then build up interest for the course at the sweet spot range.
Love it! This is a topic I'm passionate about as well. :)
Yeah, this is very well suited for a course. I'd say a course is a better medium for this than a book (although a book is great, too - definitely do both).
Awesome. Thanks a lot
Didn't this video exist already? I swear I saw this content a couple days ago. Going to check it out, thanks, looking forward to the rest of the content, Shane 👍
This is an updated version of a video I originally made a few years ago. So yes, I have taught this concept before. I think this video is shorter and clearer than my first one. :)
This is too good. Thanks for sharing.
Worldclass Content from Shane!
Thank you, Tobias!
Amazing content. Thank you!
Glad you enjoyed the video!
Thanks Shane! In attaining the sweet spot number, how long should this course be?
It's not really about the length of the course. If you can help people attain a highly desired outcome, the course is valuable. Whether this happens in the span of 10 lessons or 100 lessons is besides the point. The way I approach it is with the question: what is the most effective way I can get my customer from where they are to where they want to be? And I make as few lessons as possible and as many as necessary.
What can I say here is Thanks.
Very good video, thanks!
Thank you for commenting!
Very good video, thanks
Great tutorial! I have considered producing online art courses, but there are already tons on RUclips. Have you found that certain subjects don't sell as well due to availability of free versions?
The availability of free content isn't an indicator that a paid course won't sell. Take the fitness industry as an example: there are millions of free videos and articles available on this topic. But there are also countless fitness course businesses that are doing extremely well.
It's better to look at the market for paid courses. Are there people buying courses in your niche? Are there successful course creators and course businsesses? If yes, then there's an opportunity in the niche.
As a side note: I have bought a few art and design related courses myself. So at least from a customer perspective I can tell you that there is money being spent in this niche. :)
Such a helpful video
Amazing insight!
Great video, thank you
*This is just top notch...* 🙇🏻♂️ 🙇🏻♂️
Great Content Shane, May Allah Bless you. Very Insighfull!
Excellent video! One question; how to get those conversation rate from your leads? How to get thosr quality leads that convert at 2%?
This was so helpful!! Thank you :) I have a quick question that I hope you can help with. Would you suggest using $ USD as the currency for pricing your online course, even if you're based outside the US? And does the "sweet spot" of $200 translate to the same number in another currency or the same value? e.g. £200 or ~£160 for the UK
Weight loss is my niche sir.. Is it a good niche sir..
Does people buy weight loss courses when it is Truely delivering some quality messages to the people.
Please kindly clarify my doubt sir..
But how are you getting those people to pay $200. I have hard time getting people to pay $39 for my programming courses. What am I missing?
Could be many things. Can we see your sales page? Are you using video at all on it? - Tony
Can you make a Video with Conversion Rates for Ebooks ? and is in Thrivethemes the Option for downloadableProducts ?
Shane, please advise. How does it work when it comes to taxes?
hi Shane, thanks for the video! I am working on a 30 day challenge / experience for people in "how to be more as you really are " and it is about taking little comfortzone steps. But about pricing, is a challenge the same as courses? And if I do it as a Pilot for the first time? (Later price would be 197,--) first time with extra QenA some like 49? Hope you have a suggestion?! Have a great day! Edwin
Offering the pilot for cheaper is a good approach to validate and develop a course.
In principle whether it's a challenge or a course doesn't make a big difference. What matters is this: can you bring people to a highly desirable outcome? People want outcomes. And if the outcome is highly desirable, then they're happy to pay for it.
So if you can convince me that you can get me to the outcome, then whether it's a "course" or a "class" or a "challenge" or something else is secondary.
@@Thrivethemes great answer Shane,l thank you! And euh, Thrives templates help me :-)
I would like to add it into Excel, but I am not getting it. How do you get the CR\5% then CR/2,5, then CR/2.48%...Can you help with a formula ?
I love your video production quality .. I m also a beginner and plan to make a course. Do you have any video where you teach how to green screen and edit video as your video ?. How the half blue circle fade in and fade out.. how to say that and where to make or buy such rhing
Ok but psychologically what price number works best? $200? $197? $189? $205?
187 or 197
What would the conversion rate be on a $200-500 course be?
I have a proven knowledge on how to eliminate anxiety disorder naturally, effectively and quickly and I am going to create a course in this topic using your teachings. Thank you Shane!
How do you feel about a first offer of 47 then an upsell of 197
Or is 37 to 197 better?
Amazing video. What about Udemy selling great courses at 10 dollars? Will they "kill" course business for the rest of us? (we can not compensate with massive traffic!)
Don't worry about that. Udemy has been around forever with loads of cheap courses. Most courses on Udemy match the price. I.e. they're not very high quality. And it's all about marketing. Just like the existence of cheap wine doesn't destroy the market for expensive wine, the existence of cheap courses doesn't destroy the market for expensive courses.
Where do you host your courses?
You can use anything from Bunny, to Vimeo, to Wistia…
Shane was a boss.
Pity we don't hear from him anymore though 😒
It's abit like what happened to Clay from Lead Pages.
It's the cost of growth in this type of business.
Do you mean $2000 per month or once off?
I am selling my course at 97$ 🤗 I suppose it's a perfect price 🙂
Shane, I have 3 questions:
The first one is about FB ads costs, how you suggest to spend per day in ads for (just en example) an expensive market as USA?
The second question is about bonus. A lot of "guru" says that more free bonuses you give, more chances you'll have to sale your course. What you think about it?
Finally, I validated for free (by the way, I did it with Apprentice) a 14 day intensive mentoring with up to 3 week Zoom live sessions, and I think it will works for a sale. In your opinion, the course craft could be valuable in my case? Do you give some online support or you answer students questions?
I never worked with Udemy, but I did with Hotmart because I have a spanish spoken market and they pay all taxes and those boring things (yeap, they take the 12% of my income...).
My biggest "fear" is about all related with taxes, VAT, receipt stuffs and all those thing, because I'm still a solopreneur and i really don't want to deal with hundred of programs like, zapier, stripe, quaderno or similars. Do you teach or help to resolve those troubles in your course craft?
Thank you very much
Amazing video, thank you.
Glad you liked it!