Can Online Course Creatives make money and fill their online courses in today's world?
When I first started out in business as a coach and trainer in 2001, I spent a lot of time developing my courses. I look back today and am surprised with how many assets, I have for my clients. I would simply build my online courses, then send out some emails or social media posts and expect my courses to be filled.
Often all I heard was crickets, nobody enrolled in them. So, to distract myself even more, I simply just developed another course. My friends would ask me, what have you been doing this week. And my normal reply was developing my next exciting program.
My Courses and Business Model was not Working for me
This way of doing business was simply not working for me. I was overwhelmed, frustrated and of course started to lose confidence as a coach and trainer. After all who wants to close their business down and go and get a job that they hated.
I didn’t have the team around me or the finances to promote my courses, like the bigger companies that were my competitors. I think back now, on how much time I wasted hoping that things would simply change.
Things started to change when I did
About 4 years ago, I grew tried of this roller coaster journey, and started to study the best strategies to market and promote your business. I surrounded myself with mentors, learned, studied, and implemented the new ways of thinking. Yep, I decided to do the one thing that was missing in my business. And that wasn’t my technical skill level, it was marketing and running a successful business.
Replaced HOPE Marketing with Learning How to Market
I threw away hope marketing, and knuckled down to get my business thriving, with all the information that I had learnt from the top on-line entrepreneurs who were kicking huge goals.
In this article Lets discuss how on-line course creators can add huge perceived value to their courses and stop competing on price.
Why others have their courses fully booked out, and I don’t.I used to ask myself the same question continually. I would see people who had less experience, then myself and yet they had fully booked courses and not me. The reason why they are successful is
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What is the most Important thing to know?
As an entrepreneur firstly you do need to spend time in marketing and learning how to run your business effectively. If you are like me, you probably just want to do what you are passionate about, however this will not create a successful business. This is more like having a hobby.
The amount of effort that you put into marketing and sales will determine how many clients you have?
What am I up against?
Creating online courses growth is estimated to reach $365 billion by 2025. It is a huge growth industry and is easy to enter, with low overheads and with today’s technology easy to create. Saying this there are platforms out there such as Skill Share and Udemy that have thousands of courses open to the public, at extremely low costs. They sell the courses around $10 per course.
Knowing that is happening, how can you charge higher prices then these. I certainly would not be able to make a thriving business if I sold my courses at $10. Therefore, I need to move away from competing on price. If I compete on price than I must be the lowest. There will always be a competitor new to the industry that will drop their prices below mine.
How can I Be Different?
If I am not going to compete on price, then how am I different from my competitors? This is an important question to be able to answer. Now there are many ways to demonstrate the added value that you bring along with your programs. Grab yourself a pen and paper and write down what added value do you bring? How can you increase the perceived value, so your audience sees how they are getting much more than just a course?
Add Extra Value and Stand Out
- Level of Service – How are you different than your competitors?
- Speed – If you are in a support service, how can you increase the speed when someone needs your help?
- Education and Training – What extra assets that you have that can be included with your training courses? These need to be address the problems that your audience has.
- Quality of your programs – How can you make your programs more interactive that engages your audience?
- Risk Reversal – What is your money back guarantee – People love to be reassured that if your program is not right for them then they can get a refund
- Social Proof – Show that you clients gain results. Include testimonials and comments from those who have completed your courses
- Support – What levels of support will you offer