Would you like to learn what is the best online course pricing plan because in this partner call with Meisam Mansourzadeh, Jerry is explaining different options?
Are you ready to find the best price to sell your online courses at?
Selling online courses is the best way I've found to give value and make money online since 2014. I've got a lot of experience selling online classes at many different prices on many different platforms and setups.
What I'm doing here is sharing my experience with one of my partners who's setting up their online classes as to what's the best price to sell your online courses at.
The most honest answer I can give you is what am I selling my courses at currently based on everything I know?
What I've got is a Jerry Banfield University, I call it, or it's all on my website. I've got a three-level option where you can buy my courses.
I've got the lowest options, which is $19.95 a month because that's proven very successful and allows anyone anywhere to sign up who has a credit card and can pay that way.
It's very beginner-friendly for someone who's not ready to invest that much, but who wants a value.
I also offer a lifetime option for $297 for those who'd rather pay more and not have to have a subscription, and this one is actually one of the most popular options on my website because ironically the $19.95 a month makes the lifetime option look better for a lot of people.
Then, I've got a higher level option that includes group calls for life each week, multiple calls per week, and that's the context this call was filmed in.
I record all my partner calls and release online videos.
I love this pricing system because if you just want to watch all my videos without any ads or distractions and focus into online courses and be able to answer questions and get answers to questions, and come to my events, it's as little as $19.95 a month.
For those who can pay more it's important to have something for several hundred dollars because people like me, I'd rather just pay $300 for life instead of paying $19.95 a month for several years.
I like the idea of a one-time payment instead of a bill.
I also love the idea of being able to get more contact with the instructor.
Therefore, this is what I'm doing and what we'll do now is look at why I'm doing it this way and how that might be applicable to one of my partners who's starting their journey with teaching online.
The call is with Meisam Mansourzadeh, he's at meicode.org.
He's putting up a 55-hour course and what we will do is talk through his online course pricing.
Meisam:
I'm going to release a new course in about 10 days, which is about 55 hours. I was thinking about its price. What do you think should I put as the price of the course?
Jerry:
Where are you selling it?
Meisam:
I'm going to sell it on my website and I believe nowhere else, just on my own website.
Jerry:
You're just selling the course on your website at meicode.org?
Meisam:
Yes.
Jerry:
Just selling it on your website, with course pricing, I've had a lot of challenges with that as well.
I've sold courses for hundreds of dollars. I've sold them obviously a lot cheaper.
For me, the main thing is that I've got to feel good about the price I'm selling it at. I put my courses up to $297 before and they're certainly worth that. I didn't feel good selling it at that price though because I love having a $19.95 a month subscription for all my courses.
I love offering all my courses for life for $297, so for better or worse, for me that's kind of a limitation in a sense that that's what I love.
That's what I priced my courses at because I'm rock solid, I'm certain that those are really good value and I feel outstanding about selling them at $19.95 a month for all courses or $297 for all courses for life.
The question for you is what price do you feel outstanding?
At what point can you price your courses or what price can you put your courses at where you feel that it's an outstanding value?
What price you're certain it's worth it and you feel good about selling it at that price?
Meisam:
I'm certain about the value of the course. We think it's about something like $500, but I'm worried about the audience. I'm worried that I don't reach to the correct audience, so I don't know what should we put as the price.
Jerry:
You've got a 55-hour course. What's the core subject?
Meisam:
It's Android app development for 2020.
Jerry:
The only place you're going to put it is on your website, you're not going to upload to other platforms too?
Meisam:
I'm going to start with my website, but if I don't get the result that I want, I may upload that on other places as well.
Jerry:
How many people do you have coming to your website already?
Meisam:
Very few actually, but I'm planning on advertising maybe on Google AdSense, and also YouTube. It's about 10 or 20 people daily.
Jerry:
Have you made a sale on your website yet?
Meisam:
Yes, actually.
One came from a tiny Twitter page and the other, I don't know. I just get an email that they sold the new course.
Jerry:
People can buy them directly on your website. I'm looking at the Android development 2020. I see it's nine $9.99 right now.
Is that what you sold the previous courses for?
Meisam:
That's actually the 2019 version of the course. I haven't really sold any videos of the course yet because that's the old course. I sell $9.99.
Jerry:
Is that how much you sold the last ones for?
Meisam:
I'm kind of not that into the last course because the audio quality was not that good about the thing that you were talking earlier on the call.
But the new course has improved a lot and I'm hoping that I can sell at the value of the price.
Jerry:
How much did you sell for already?
Meisam:
This course?
Jerry:
Previous courses, like what sales have you already made on your website?
Meisam:
The previous course was also released on Udemy. I think 40,000 students enrolled in the course, but this year I'm going to focus on my website.
Jerry:
How are you getting people to your website off of YouTube or are you using other places like Twitter you said?
Meisam:
Mostly YouTube, yes.
I think that's another question that I should ask you how to market the course later on maybe.
Jerry:
There are two ways I see you could go about it.
One, you've got the certainty, you know, you can sell the course for sure if you put it for $10, but at the same time it's sounding like you want to sell it for more.
What's the highest price you feel confident that you could make a sale at?
Meisam:
I'm guessing $197 is a good price.
Jerry:
Are you confident you can make a sale for that much?
Meisam:
Yes, I think there are people that think the course is valuable at that price.
Jerry:
It's a 55-hour Android development course
Do your customers have $197 to pay for your course?
Meisam:
I'm not sure about that.
Jerry:
Who's your target customer for your course?
Meisam:
A male, maybe 19 to 29, that age. I don't know much about my audience. I need to think about it.
Jerry:
What's the highest price you've paid for a course yourself?
Meisam:
For one month subscription, I think $50 or so.
Jerry:
Have you ever bought a course for $197?
Meisam:
No.
Jerry:
It might be challenging to sell something you've never bought on the other end of. You could work up to a higher price, you could put the price at $19.99 or $29.99 and kind of scale your way up there.
Or you could just put it at $197 and if you don't get any sales, you could put the price down.
I put my courses at $297 on my website and with all my promotional efforts, I did not sell a single course at $297 for a few weeks.
As soon as I put the $297 for all courses for life bundle, one of those sold the day I made the change.
If you had something like a courses bundle, that seems like it'd be ideal to sell at a higher price, I'm going to imagine based on what you've said, it might be difficult for you to sell a course at $197 since you haven't bought one before, and since the highest price your source courses sold so far is probably maybe $20 or $30 on another platform.
Meisam:
Oh, yes, of course, the bundle is a great idea. I have other courses and maybe I'll try that and that's actually good advice. Thank you.
Jerry:
Maybe you could do a subscription if you wanted to or it might just be simpler. I've had lots of purchases for my lifetime, $297 bundle.
I've had subscriptions before.
Sometimes having one offer could be easier.
I think with all this you're putting up on YouTube, you'd have a good shot to sell a lifetime all courses bundled for $197 or maybe even $297 because people see the quality of your courses and they'd want to keep learning with you.
From my point of view, it'd be an easy sale to say, "Hey, you buy this course. I'll give you all the courses I make indefinitely and all of that I made so far."
Meisam:
Oh, that's great actually.
Yes, I think I should go with that.
Thank you.
Yes, you watched this whole video, thank you.
Imagine being able to watch all my videos with no ads, all organized into online courses that you can easily go through.
Imagine being able to get answers to every single question you have directly from me and fellow members of the community.
Imagine being able to share what you are doing and have me put it on my social media accounts out to millions of followers.
You can do all that and more at Jerrybanfield.com/university/.
You might think this will cost a fortune and the good news is, it's only $19.95.
The video you just watched was a partner call, which means you can get access to that today for $2,416.
With the partner membership you get access to all the video calls I offer to partners, which then leads to videos like this, where I do anything I can to help partners build their following and help you know the partners I'm working with.
Note that the partner price goes up 3% every time someone buys it. That means if you see a higher price today, another person already bought it and it goes up 3% every single time.
This means you get the lowest price it will ever be bought today, and you know someone purchased it at a lower price and it's worth it.
If you want to get started with everything except the calls, you can get that in the monthly plan or the lifetime plan at Jerrybanfield.com/university/.
Thank you very much for supporting all that I do each day to help you build an amazing business and life online.
I love you.
You’re awesome.
Edits from video transcript by Michel Gerard.
