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- Sep 11, 2021
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Hey Everyone,
I've been looking through the forum for the last couple of hours trying to get a feel for what people believe the best pricing strategy to be for selling on Udemy, before I dive into my thoughts I just want to preface this with a couple of assumptions/long term goals.
What should I be pricing my course at?
Here are the important factors to consider;
With that in mind I'm stuck between what to sell the course for to get it off the ground;
Really eager to hear everyones thoughts.
Thank you
I've been looking through the forum for the last couple of hours trying to get a feel for what people believe the best pricing strategy to be for selling on Udemy, before I dive into my thoughts I just want to preface this with a couple of assumptions/long term goals.
- I understand that Udemy isn't going to make me rich - it violates too many elements of the CENTS framework
- The industry/topic that I am playing is is highly profitable (according to Udemy) with the top monthly revenue being $2886
- I will eventually transition to selling via my own platform but I see Udemy as a way to quickly build social proof and reviews
- The aim is to make a little money to help improve my recording equipment
What should I be pricing my course at?
Here are the important factors to consider;
- The Top 3 Courses sell for £149.99 (32 hours), £149.99 (21 hours), and £59.99 (this is more Dev focuses rather than what I am planning to teach)
- The Top Course have 92k Students and 24k reviews, the second one has 52k Students and 11k reviews.
- Ive been through both of these courses and they are very long winded, e.g. the one at 32 hours is basically the same course being taught twice in different UIs (One is a older course that he rolled into the new one)
- The course I have designed and filmed is 9 hours long and is straight to the point with no fluff - the other guys seem to ramble on and on when not needed
- I will be improving the course as it starts to bring in money
- I have a decent LinkedIn Profile Presence and have over 600 emails to market to, I'm building this every day through LinkedIn Posts and YouTube videos
With that in mind I'm stuck between what to sell the course for to get it off the ground;
- Free - Do I give away the course for free to people using the free Coupon to get as many students as quickly as. I feel while this would be a great way to get the student numbers up it massively devalues what I've done and seems like a waste of the small audience that I do have.
- £19.99 - Do I price it at the lowest possible amount? Everyone knows that Udemy sells by discounting courses but even when those £1449.99 courses are discounted I will still be the cheapest. This should help draw as many students as possible while making a little money from it so I can improved and launch additional courses. Im also thinking that those people who are looking for courses will not even think about dropping £19.99 on a course. I can then offer the email audience I have a 50% discount coupon to bring the cost down to £9.99 to drive more sales and try and get them promoting the course.
- £199.99 - Do I got old school Salesman and work off the idea of trying to make the course seem more valuable by increasing the price to £199.99 and looking like the most expensive. I think I will eventually go down this route and then try and drive traffic to my own platform where I will sell the course cheaper but in terms of starting off does this make sense? When Udemy discounts the course as it will always do it will give the feeling that the customer is getting a better deal as it has more off.
Really eager to hear everyones thoughts.
Thank you
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