The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 80,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

Pricing Dilema

Marketing, social media, advertising

Jonathan Polley

Bronze Contributor
Read Fastlane!
User Power
Value/Post Ratio
150%
Feb 26, 2016
88
132
41
Valencia, Spain
I am about to start selling my product. And I honestly have no idea what price to put it at.

My product is an online science course. Aimed at students taking exams at around the age of 16. It's based on international syllabuses, so should be suitable to customers anywhere in the world.

The course (only biology at the moment) has: Over 56 video lessons. Each lesson comes with a quiz (Over 400 questions) and resources that can printed and competed. As well as Instructions for (safe) experiments that can be completed at home.

There is also a "get help" function if people are still struggling to understand things

All in all there is over 20+ hours content for the biology section alone
A private tutor would cost somewhere in the region of $20 an hour so about $400 worth or private tuition.

I don't want the course to be too cheap as obviously I will make less money, but it also makes it seem like it has very little value, and well there is tonnes of content with very little value on Youtube. On the other hand I don't want it to be too expensive and price myself out.

I was thinking around 75 GBP, then heavily discounted to 29 or so on a squeeze page with a countdown timer until the offer expires.

Thoughts?
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Kid

Gold Contributor
Speedway Pass
User Power
Value/Post Ratio
98%
Mar 1, 2016
1,736
1,707
You can test different prices - make for example 3 landing pages/squeeze pages with only price as a difference.
Analyze how many bought and how many subscribed (if that's the purpose of your squeeze page).
 

Waspy

Float like a butterfly
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
461%
Dec 6, 2016
480
2,214
30
U.K.
We talking lifetime access or a monthly fee?

Most people (at least at my school) wouldn't have hired a tutor. So comparing prices is a little redundant. I personally would go down the low cost, mass market pricing.

The other option is to sell the service to schools. MyMaths for example made its creators incredibly wealthy when they sold to Oxford Uni, and now generates even more money for the Uni.
 

Hicks

Bronze Contributor
Speedway Pass
User Power
Value/Post Ratio
108%
Aug 28, 2013
314
340
UK
Are you selling to schools or individuals?
Is it one and done or a subscription?
How much interaction is there?
All these things are going to really change the price. If you're selling to schools you are effectively selling a school licence and the price should be over a 100 at least.
To be honest no one can answer it without seeing it. I've had an on going battle with pricing my course...it just been a constant adjustment.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Jonathan Polley

Bronze Contributor
Read Fastlane!
User Power
Value/Post Ratio
150%
Feb 26, 2016
88
132
41
Valencia, Spain
At first I intend on selling to individuals, aiming at parents mainly. People who are homeschooled, those struggling at school etc.
Further along the line I do intend on selling to schools. But I want to get everything up and running first. Rather than just 1/3 of the material. Obviously a site license would be much more.

The fee itself to gain access would be for a lifetime of access. (And those who sign up for the biology part will get discounts for the chemistry, physics and Earth science courses when they are ready)

How much interaction is there?

When you say interaction? What exactly do you mean? If you mean flash activities etc. Then honestly none as at the moment that is beyond my skill level and although it is something I eventually want to have. It is not a priority right now.

The main things for those doing the course to actually do, other than watch the videos are the multiple choice quizzes at the end of each lesson (which is automatically marked and graded, parents then get an email with the score so they can track progress)
Worksheets to with activities and experiments (about ten so far) for them to complete.
 

Hicks

Bronze Contributor
Speedway Pass
User Power
Value/Post Ratio
108%
Aug 28, 2013
314
340
UK
At first I intend on selling to individuals, aiming at parents mainly. People who are homeschooled, those struggling at school etc.
Further along the line I do intend on selling to schools. But I want to get everything up and running first. Rather than just 1/3 of the material. Obviously a site license would be much more.

The fee itself to gain access would be for a lifetime of access. (And those who sign up for the biology part will get discounts for the chemistry, physics and Earth science courses when they are ready)



When you say interaction? What exactly do you mean? If you mean flash activities etc. Then honestly none as at the moment that is beyond my skill level and although it is something I eventually want to have. It is not a priority right now.

The main things for those doing the course to actually do, other than watch the videos are the multiple choice quizzes at the end of each lesson (which is automatically marked and graded, parents then get an email with the score so they can track progress)
Worksheets to with activities and experiments (about ten so far) for them to complete.
Essentially I was thinking of something like mymaths where the teacher can monitor progress and offer feedback. Sounds like you are doing something more straightforward...very sensible. I don't know what lms (learndash?) you used but if you sell to schools in the future you could offer this feature.

Also you say that flash etc is beyond your capabilities. Have you thought about ispring? It's pretty amazing for the price.

Anyway great stuff. Really looking forward to watching your progress with this.
 
Last edited:

Jonathan Polley

Bronze Contributor
Read Fastlane!
User Power
Value/Post Ratio
150%
Feb 26, 2016
88
132
41
Valencia, Spain
Essentially I was thinking of something like mymaths where the teacher can monitor progress and offer feedback. Sounds like you are doing something more straightforward...very sensible. I don't know what lms (learndash?) you used but if you sell to schools in the future you could offer this feature.

Also you say that flash etc is beyond your capabilities. Have you thought about ispring? It's pretty amazing for the price.

Anyway great stuff. Really looking forward to watching your progress with this.

We went with WP courseware. It seems pretty simple and customisable, it does everything we need at the moment, we can monitor progress and give feedback. The issue with that at the moment is that it would be a massive time sink. I would love to be able to offer features like this. And will to a small extent. But I also have to be realistic about what I can do.

Essentially it's me doing producing all the lessons and videos. Producing all the resources and quizzes. Recording hours of audio. And my wife building the site and dealing with the backend. Both of us working on the front end equally.
And that is before marketing the site and actually getting customers.

Once all that is sorted. Then I would love to build simulations and flash activities as they will add great value. But that a way off.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Hicks

Bronze Contributor
Speedway Pass
User Power
Value/Post Ratio
108%
Aug 28, 2013
314
340
UK
We went with WP courseware. It seems pretty simple and customisable, it does everything we need at the moment, we can monitor progress and give feedback. The issue with that at the moment is that it would be a massive time sink. I would love to be able to offer features like this. And will to a small extent. But I also have to be realistic about what I can do.

Essentially it's me doing producing all the lessons and videos. Producing all the resources and quizzes. Recording hours of audio. And my wife building the site and dealing with the backend. Both of us working on the front end equally.
And that is before marketing the site and actually getting customers.

Once all that is sorted. Then I would love to build simulations and flash activities as they will add great value. But that a way off.
It's a hell of a lot of work! Good luck.
 

Jonathan Polley

Bronze Contributor
Read Fastlane!
User Power
Value/Post Ratio
150%
Feb 26, 2016
88
132
41
Valencia, Spain
Yes it is. I just hope that with one course ready to go we can start making money so I can quit the day job. Then I will be able to fully devote my time to getting everything finished.
 

Jeremy Groover

Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
107%
Nov 26, 2014
72
77
33
Orlando Florida
The way I see it is 16yo aren't going to be your main income source. Most of them, at least when I was in school hated the thought of more work. If they didn't care about science, then they just wanted to pass, not excel in it. I would focus on the parents and schools/ after school programs. If it is a 1 and done course payment, I would price it somewhere around 30% of what a private tutor would charge. I believe any more than that and the parents would just rather hire a tutor. I would market it to parents, teachers and the private programs where kids go for school help. On top of that, this would most likely be used as a "stepping stone" purchase. After they pass the class, they wont have much use for it, so you should keep that in mind as well.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Hicks

Bronze Contributor
Speedway Pass
User Power
Value/Post Ratio
108%
Aug 28, 2013
314
340
UK
The way I see it is 16yo aren't going to be your main income source. Most of them, at least when I was in school hated the thought of more work. If they didn't care about science, then they just wanted to pass, not excel in it. I would focus on the parents and schools/ after school programs. If it is a 1 and done course payment, I would price it somewhere around 30% of what a private tutor would charge. I believe any more than that and the parents would just rather hire a tutor. I would market it to parents, teachers and the private programs where kids go for school help. On top of that, this would most likely be used as a "stepping stone" purchase. After they pass the class, they wont have much use for it, so you should keep that in mind as well.
I think the op mentioned that one market will be home schooled kids' parents. I personally would start there.
 

Jonathan Polley

Bronze Contributor
Read Fastlane!
User Power
Value/Post Ratio
150%
Feb 26, 2016
88
132
41
Valencia, Spain
The way I see it is 16yo aren't going to be your main income source. Most of them, at least when I was in school hated the thought of more work. If they didn't care about science, then they just wanted to pass, not excel in it. I would focus on the parents and schools/ after school programs. If it is a 1 and done course payment, I would price it somewhere around 30% of what a private tutor would charge. I believe any more than that and the parents would just rather hire a tutor. I would market it to parents, teachers and the private programs where kids go for school help. On top of that, this would most likely be used as a "stepping stone" purchase. After they pass the class, they wont have much use for it, so you should keep that in mind as well.


I agree, most kids won't want to do this on their own, so it is primarily going to parents we are aiming at. Homeschooled kids should be a great market.
I think 30% sounds pretty reasonable. as a base price, but I will discount to entice people in.

As for the "Stepping stone" purchase. Well, the long game here is that once I have finished the current courses (could well be a couple of years) I plan to have a follow up course that looks at things in more detail.

So what I am doing right now is aimed at GCSE/IGCSE kid. (And equivalent, so age 14-16, but for homeschooled kids who are being pushed could be as young as 11 I guess) But will be followed up with A-Level/International Baccalaureate level courses (16-18) And of course those who have the initial courses will be offered heavy discounts on buying the more advanced ones.
 

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

Latest Posts

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top