What I learned this week:
Here’s a quick rant on online courses.
TL;DR - the price of your info product online depends HEAVILY on how you market and present it, and much less on the actual content than you think.
I started going through an online course for a client because we want to build a course ourselves. It’s funny, it’s an online course about making online courses - but I realized not nearly as much information needs to be included as you think it does when you’re building informational products. The one I took is called “Total Product Blueprint” by Brendon Burchard.
He uses a full-service online course tool called Kajabi, and while the course went into relatively deep detail, the format was just videos of Brendon talking next to a whiteboard with sticky notes on it. Brendon explained the structure he uses for making content digestible in a 3x4 matrix, at each step, he would pull off a sticky note from the board that would reveal one or two words explaining how this piece of content should look.
He repeated tons of information, then tried to justify why he was repeating the information. It felt like a shocking amount of fluff, I had to listen to it on 2x speed. I’ll hand it to him, he stayed engaging the whole time, but it wasn’t all content. He’s a great presenter, but he could have boiled down all the information in the course to a page or two of succinct writing. Yet the course is priced at a few hundred dollars.
I did some research into the background of the online course. If you google it, 100 different things come up. He’s made a ton of different iterations, and the initial iteration was free, then the next was $5. I would imagine it’s evolved since then, but it’s obvious that he got better at marketing over time. Interestingly enough, the course actually looked bigger in the past.
Brendon nailed down the key elements, reiterated them a ton, and made the course look a lot, lot nicer. Then, he marketed it as a premium product instead. The moral of the story: Pricing is made up.
If you make an info product online, you can sell it for whatever you want as long as you make it seem like it’s worth it - but of course, that’s easier said then done. Even with physical products, some high ticket items are sold for ridiculous margins. If you’re bored, look into the mattress industry. They don’t cost a lot to manufacture at all, but they remain stupid expensive to buy just because the industry historically has marketed well.
If you want to start experimenting with online courses and little info products, check out Teachable and Thinkific. I’ve looked into a ton of online course creators for my client, and those two stand out as the most useable. They both have a free tier, give them a whirl.
I’ve started building an online course for my client via a WordPress course tool called LearnDash. You’ll be hearing all about it on another issue. I hate WordPress.