Courses, live and self serve both and those combined with coaching, are selling well now.
Popular advice is to price your online course low and go up from there.
But one size does not fit all.
Here is something based on experience. Clients who pay less, like rock bottom rates, will want you to do what they ought to be doing.
Those who pay more, will value your work and advice more and take action and hence see results.
So if you are someone who is an expert and well established in what you do, sell a high priced product because you already have built your foundation and spent your years.
Don’t go from high to low
If you start with a high priced product, don’t diversify into low priced products to appeal to a bigger mass.
And, don’t diversify into new courses, into new areas to do that, however tempting that may be.
Because each course you create is a seperate business. If you have two businesses, you will have to divide attention. Better put it into one place.
You won’t limit your revenues by not diversifying. There are creators out there who do $20 millions a year with a single program.
Another reason to avoid a low priced program is because it is the same work as the high priced course or program with much smaller revenues and profits.
It wastes your time and is not as inspiring as to work with people who are after big goals, value your advice a lot and put it into action. Because those who pay more, are more invested in their success, want to get results and that’s why take action.
Higher price products also give you high profit that you can re-invest in growth.
There are many other reasons why you should not do low priced as an expert, like surprisingly high pressure customer support for low priced products before those who pay less usually tinker themselves and those who pay more, get help by paying and don’t bother someone who they bought a course from.
When in doubt, price high.
I speak from experience. After a certain point, in my agency, we made a rule to not work with low paying clients. Because of this we turned a lot of business away. Same goes for coaching and advising, I price in the premium range and it works well for both sides.
Of course work a lot on product, experience and outcome for your customers and those you are coaching.
The only time you should sell a low priced product
When you are new in the market and are still learning, or you want to grow your brand’s awareness in the market.
In that case, start with a free course to get your name out there.
And from there move to the low paid products and then to higher priced one like I explain here.
When you do that, make your lower priced product self-serve with almost no intervention from you, so that you don’t stay stuck at the low-end.