3 Ways to Offer Discounts for Your Online Course Without Having a Sale
Have you ever been to a store, found an item you really liked, but looked at the price tag and thought “I’ll just wait until this goes on sale”?
When it comes to retail (like shopping for clothes), who pays full price anymore? Maybe you’ve never realized it before, but the stores actually anticipate that you’ll wait for prices to drop (or use a coupon). So, they price accordingly, and they’re still making profit even at sale prices!
The retail industry (e.g. clothes, home goods) has essentially trained you to wait to buy until items are on sale.
Did you catch the significance of that? Let me say it again: In retail, people often don’t buy until something’s on sale.
As a business owner and infopreneur, this should really make you sit up and take notice.
- you’re trying to sell an online course,
- you want to make consistent revenue from that course,
- that course never goes out of style (like last season’s clothing line),
- that course is not really a necessity (like food), and
- that course is always available for purchase,
…you should want to do everything in your power to get people to buy NOW (not later).
You do not want to train your customers to wait to buy until your items are on sale. You want to train them to buy now!
If you are consistently lowering the price of your course around obvious milestones like holidays, and you advertise these sales heavily, you’re telling your audience, “there’s no need to buy my course at full price. Just wait for a sale, and you can get half off.”
Usually infopreneurs have sales with the intent of getting more people to buy their course, but this plan backfires. During all the times their course isn’t on sale (and that’s a lot of the time), no one is buying. Sales ultimately wind up doing damage to their number of annual enrollments.
If you shouldn’t have sales, what are some ways you can lower your product price to encourage purchases, not train your audience to wait to buy?
Here are 3 techniques you can employ:
#1: Pre-sell your course at a “pre-sale” discount.
If you pre-sell your course before it goes live, you can set the price a little lower, informing your audience that the price will go up (and stay up) once a certain date rolls around. People will buy knowing that it’s only going to get more expensive from then on out.
#2: Use “fast action” offers.
After someone opts in to your sales funnel, you can offer them your course at a great price if and only if they enroll within the next 20 minutes (or 30 minutes or…you get the idea). Make it clear that once the timer runs out, the offer disappears, meaning the price of your course increases permanently.
Wondering what tool you can use to achieve this authentic urgency in your sales funnels? I use Deadline Funnel.
#3: Sell a lower priced version of your product with commensurate value.
Instead of making customers who pay full price for your online course feel cheated when they see you offering the same course for a lower price to others, consider revamping your offer to make it more commensurate with lower price tag.
If your online course launches once a year and comes with a large group or one-on-one coaching component, consider offering a lower priced ‘home study’ program with no coaching support.
If your full-price course comes with lots of bonuses, consider offering a ‘just the essentials’ type package which focuses on the core modules and other necessary materials.
This article is for informational purposes only and should not be considered financial or legal advice. Always consult a qualified legal and/or financial professional before making business decisions.