Teleseminar Marketing: 8 Factors That Boost the Perceived Value of Teleseminars
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Teleseminar Marketing: 8 Factors That Boost the Perceived Value of Teleseminars
by Marcia Yudkin
On average, teleseminars that charge a registration fee cost from $29.95 to $39.95. Generally, those running a teleseminar series simply multiply the number of sessions by a figure in the average range, then lower the total cost to a psychologically appealing price point. For example, a series of four teleseminars usually costs around $99 because $29.95 times 4 is $119.80.
However, if you're savvy about factors that boost the perceived value of teleseminars, you can charge many times more than the going rate. For instance, in the summer of 2008, I ran an eight-session teleseminar course for which I charged (and got) $997. A few months before that, I ran a four-session teleseminar course for which I charged (and got) $795. Do the math, and you'll see that I received up to five times the going rate.
Here's how you might be able to do the same. Add as many of the following factors as you can to your offering and watch people happily pay high enrollment fees.
Eight Factors That Boost The Perceived Value of Teleseminars
1. An outcome. Participants will pay much more for a teleseminar series that promises to deliver a result or outcome rather than merely offering education, insight or support. Compare "Start and Finish Your Nonfiction Book in 90 Days" or "Become an eBay Power Seller," which clearly aim at a specific result, with "Managing Difficult Employees," which is bound to be helpful but does not target an outcome.
2. Instructor's reputation. If the leader is well-known, impressively credentialed or highly respected by the target audience, the admission fee can go higher than for a no-name unknown.
3. Rarity of the class. For my $997 eight-session class, I told my list it was a one-time group version of my $2995 one-on-one training. Since I'm known to be a straight shooter, people wanted to take advantage of their one and only opportunity to learn the material from me for less than $1,000. If you offer your teleseminar course only once every two years, that's the next best thing to presenting it one time only - and also effective in boosting people's willingness to pay higher than usual fees.
4. Tangible materials. When you offer hard-copy printouts and CDs or DVDs along with your teleseminars rather than just telephone sessions and downloadable extras, the perceived value rises greatly. Most participants appreciate having a physical copy of your material rather than just a memory of the sessions and some files on their computer. The tangible materials also help assuage a participant's worry about not being able to attend all the sessions.
5. Consulting, coaching or mentoring component. Build some sort of one-on-one help or advice into your course, and you can charge lots more for your teleseminar or series. And guess what - surprisingly few participants take advantage of such an opportunity. Since they figure that's their own fault, they're still willing to pay the premium fee for something that makes one-on-one advice or feedback available.
6. Additional services. My four-session $795 teleseminar course included having me distribute a press release for them at no charge - a $149 value. Here I'm not suggesting simply piling on downloadable bonuses, which everyone knows cost next to nothing to deliver, but bundling in an extra service that would normally cost extra, such as free proofreading or free cover design for the participant in "Start and Finish Your Nonfiction Book in 90 Days."
7. Certification. Participants adore it when satisfactory completion of your program enables them to call themselves a certified something or other. Because this beefs up their credentials, they're happy to pay more for a program that includes certification.
8. Continuing education credit. In some industries, professionals have to earn a certain number of educational credits every year to keep their license current. If that applies to your area of expertise, investigate which organizations are in charge of determining which courses can count for such credits, then apply for includion in that program. The very same content is worth more to participants who can satisfy continuing education requirements by signing up with you.
Along with increasing the perceived value of teleseminar programs, the eight factors above strongly reduce refund requests, too. Now go back through the list and think about which elements you can incorporate to boost your teleseminar profits!
Veteran teleseminar presenter Marcia Yudkin specializes in high-ticket, high-value teleteaching courses. To find out more about your teleseminar options, download a complimentary copy of "66 Ways to Use Teleseminars to Promote Your Business or Your Cause," go to Teleteach: Make Money by Running Teleclasses or Teleseminars and Creating Audio Products from Them . Discover how to plan, promote and deliver profitable teleseminars, whether you're an entrepreneur, business or health professional, nonprofit organization or corporate marketer.
by Marcia Yudkin
On average, teleseminars that charge a registration fee cost from $29.95 to $39.95. Generally, those running a teleseminar series simply multiply the number of sessions by a figure in the average range, then lower the total cost to a psychologically appealing price point. For example, a series of four teleseminars usually costs around $99 because $29.95 times 4 is $119.80.
However, if you're savvy about factors that boost the perceived value of teleseminars, you can charge many times more than the going rate. For instance, in the summer of 2008, I ran an eight-session teleseminar course for which I charged (and got) $997. A few months before that, I ran a four-session teleseminar course for which I charged (and got) $795. Do the math, and you'll see that I received up to five times the going rate.
Here's how you might be able to do the same. Add as many of the following factors as you can to your offering and watch people happily pay high enrollment fees.
Eight Factors That Boost The Perceived Value of Teleseminars
1. An outcome. Participants will pay much more for a teleseminar series that promises to deliver a result or outcome rather than merely offering education, insight or support. Compare "Start and Finish Your Nonfiction Book in 90 Days" or "Become an eBay Power Seller," which clearly aim at a specific result, with "Managing Difficult Employees," which is bound to be helpful but does not target an outcome.
2. Instructor's reputation. If the leader is well-known, impressively credentialed or highly respected by the target audience, the admission fee can go higher than for a no-name unknown.
3. Rarity of the class. For my $997 eight-session class, I told my list it was a one-time group version of my $2995 one-on-one training. Since I'm known to be a straight shooter, people wanted to take advantage of their one and only opportunity to learn the material from me for less than $1,000. If you offer your teleseminar course only once every two years, that's the next best thing to presenting it one time only - and also effective in boosting people's willingness to pay higher than usual fees.
4. Tangible materials. When you offer hard-copy printouts and CDs or DVDs along with your teleseminars rather than just telephone sessions and downloadable extras, the perceived value rises greatly. Most participants appreciate having a physical copy of your material rather than just a memory of the sessions and some files on their computer. The tangible materials also help assuage a participant's worry about not being able to attend all the sessions.
5. Consulting, coaching or mentoring component. Build some sort of one-on-one help or advice into your course, and you can charge lots more for your teleseminar or series. And guess what - surprisingly few participants take advantage of such an opportunity. Since they figure that's their own fault, they're still willing to pay the premium fee for something that makes one-on-one advice or feedback available.
6. Additional services. My four-session $795 teleseminar course included having me distribute a press release for them at no charge - a $149 value. Here I'm not suggesting simply piling on downloadable bonuses, which everyone knows cost next to nothing to deliver, but bundling in an extra service that would normally cost extra, such as free proofreading or free cover design for the participant in "Start and Finish Your Nonfiction Book in 90 Days."
7. Certification. Participants adore it when satisfactory completion of your program enables them to call themselves a certified something or other. Because this beefs up their credentials, they're happy to pay more for a program that includes certification.
8. Continuing education credit. In some industries, professionals have to earn a certain number of educational credits every year to keep their license current. If that applies to your area of expertise, investigate which organizations are in charge of determining which courses can count for such credits, then apply for includion in that program. The very same content is worth more to participants who can satisfy continuing education requirements by signing up with you.
Along with increasing the perceived value of teleseminar programs, the eight factors above strongly reduce refund requests, too. Now go back through the list and think about which elements you can incorporate to boost your teleseminar profits!
Veteran teleseminar presenter Marcia Yudkin specializes in high-ticket, high-value teleteaching courses. To find out more about your teleseminar options, download a complimentary copy of "66 Ways to Use Teleseminars to Promote Your Business or Your Cause," go to Teleteach: Make Money by Running Teleclasses or Teleseminars and Creating Audio Products from Them . Discover how to plan, promote and deliver profitable teleseminars, whether you're an entrepreneur, business or health professional, nonprofit organization or corporate marketer.