Recently, Blue Sky eLearn Client Success Manager, Kara Adams, presented a webinar covering ten strategies for pricing eLearning content. Being that Kara worked in the education department of two associations before joining Blue Sky and consulting with our clients on their learning objectives, she had lots of good advice to share! You can watch the webinar on-demand here, and check out a summary of her ten strategies below.
The perceived value of your products is important. Alter your audience’s perception of the value by giving your education department their own brand, call your webinars something different and consider these next several ideas!
Subtle changes in your imagery, your logos, can make a big difference. Get a lot more creative with your graphics and product descriptions to help draw the learner in. Make small adjustments when it comes to pricing. All of these small changes working together can result in the production of big benefits.
Ask what your members value and what they are willing to pay for what they will walk away with. Consider generational and career-level differences. Someone more entry level might not be able to afford what someone farther along in the career might be able to, and each might value the content differently. Premier learners or subscribers might have access to a different level of content than a beginner learner or limited subscriber.
Offer something for free. Offer a discount on their next purchase – coupons and discounts have to have expiration dates otherwise they’ll never be used! When you’re introducing a new series or initiative, make the first one free and then follow up with those that snagged the free version and ask them to subscribe to the rest of the program!
Motivate and reward your members. This could be open to ALL members and then they could build up points for free offers and gifts. Offer discounts based on the number of items someone has purchased or the amount of money they’ve spent.
PYOP – Pick Your Own Price! Allows people to choose their own price, switching the power structure and asking people what something is worth to them rather than you telling them what it costs. This could even result in them being willing to pay for more something than you thought!
These are traditionally items bundled together by topic or theme and priced slightly lower than if each item was purchased separately. Try tying in experiential learning vs. all on-demand content – think calls with mentors, Q&A sessions with subject matter experts, or discussion forums. These items are out the box and out of the ordinary and can allow you to increase your pricing.
Short videos in course descriptions or in your marketing messaging can be really helpful. Always include member and non-member pricing as well so you are constantly reinforcing the benefit of membership.
With pricing, descriptions, marketing, bundles. Have fun with it!
Focus on communicating the value received for the price paid.
So there you have it! Ten strategies for pricing your eLearning content. Have other strategies that have worked? We’d love to hear them — comment below! For a downloadable and printable version of these ten strategies, click here. And, if you’re ready to talk with us about our eLearning solutions, contact us today.