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How Much Should I Charge?

by M2
15 replies
Hey Warriors,

I have developed a basic social media webinar for offline businesses and have a handful of sales people already working for me selling other products. But I am ready to contact my clients and invite them to this webinar. I am not to sure how much to charge for this product. I have had a couple of my clients say that they would pay $199 for the webinar and others say its to pricey. What is your professional opinion?

Thanks,

Mike
#charge #offline #webinar
  • Profile picture of the author digigo
    without the information about the webinar.. we can not say much... but $199 does sound pricey.. what industry? real estate? finance? why not ask your customer.. do a poll.. a survey..
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    • Profile picture of the author M2
      Thanks for the reply. The webinar is targeted to general small businesses. Basically how to create fan pages for their business and how to promote them via web 2.0 and viral marketing. I was thinking or charging a $47 fee as it is not to pricey and that more business owners would be interested compared to $199. Do you agree?

      Originally Posted by digigo View Post

      without the information about the webinar.. we can not say much... but $199 does sound pricey.. what industry? real estate? finance? why not ask your customer.. do a poll.. a survey..
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  • Profile picture of the author Nickolie0990
    I say if the value you offer is worth $199, then you should charge $199. If you want to charge more money for your stuff, just offer more value. All you have to do is create desire for the info that you offer. Remember, the price you charge is directly related to how much you make, If you have True Value, that can give them a REAL result, then you should charge $199 or more.
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  • Profile picture of the author mfleisch
    Definitely way too pricey. The most that I've ever been able to charge for a Webinar is $79. At that price you can encourage some affiliates to promote your cause and it seems to be valuable at that price.
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  • Profile picture of the author Mac the Knife
    I know that many folks have a difficult time charging for webinars...they use the free approach and use it to backend products that they advertise at the end of the webinar. However, if your list trusts you and the info is valuable, sure, it can work. One approach is to start at one price and move the price up as interest grows. It is always tough to move the price DOWN if your webinar is not a hit, but if it is, you can always push the price up.

    Speaking specifically of your target market, offline businesses, personally, I think this would be a great way to sell backend products using the free webinar model...my assumption is that your sales team is looking to offer products to these folks who are not interested or knowledgeable to implement the ideas anyways.

    Mac the Knife
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  • Profile picture of the author Riz
    What is your relationship with your clients? Have you made them money? If so then they will gladly pay $199.

    What value are you offering in the webinar? How long is it? Difficult to advise on Price without more info.

    Personally i would offer the webinar for Free or at a very low cost. Show the Value of Social Media Marketing on the Webinar and offer a special deal at the end.

    Speaking from personal experience (with seminars) you will a lot more money this way.

    Riz
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  • Profile picture of the author Robert Plank
    If you can prove you've generated $500-$1000 using the techniques in your webinar course, and can prove you've shown at least 2 other people doing it, then $197 is CHEAP. There's no such thing as "too pricey" as long as you can justify it.
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  • Profile picture of the author digigo
    then again economy still in recession.. not sure about your area... why not charge them a bit less.. then upsell them on pricier marketing package... you kn ow, webinar is just a teaser... a lot of companies give it away webinar for free as a lead genrator
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  • Profile picture of the author WD Mino
    No charging is not the way to go and I know some of the best in the business get them on there give them value something they can use and learn from and then offer something to them at a price . that is in short from Maria Gudelis a renowned expert in this field. the same as speaking publicly for them. free plus value = sales
    -WD
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    "As a man thinks in his heart so is he-Proverbs 23:7"

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  • Profile picture of the author Robert Plank
    You can quote whoever you want, but every time I don't charge money for things, I don't make money. When I do charge, I do make money. Strange concept I know :-)
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  • Profile picture of the author WD Mino
    LOl I don't think Maria is one who lacks in that area Based on your attitude I would not pay you a dime
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  • Profile picture of the author Robert Plank
    Good, I wouldn't want you as a customer.
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  • Profile picture of the author freudianslip27
    On one hand, if you are just trying to create a webinar and you don't have a reputation in the community, I agree that charging a nominal amount will bring more people out.

    BUT

    It sounds like these are people you already have relationships with, and to the right businesses, $197 is chump change. I think this will help the perceived value be higher which will only help you.

    Matt
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  • Profile picture of the author HealthBuff
    First of all Mike, congratulations on taking your business to the next level.

    I would be asking myself
    Is this a method to teach/coach your clients?
    If so, could you think about making it say one of three (around your specialist subject)?
    Can/would you also include an ebook as a written backup/instruction manual to your webinar?
    Or is this a medium in which you are coaching your clients AND also looking to up sell your services one way or other?

    The two different scenarios. Both you could offer an add on Free something ie ebook to sweeten the price.

    If this webinar is being put on as a medium to be able up sell your services, I personally would keep the price on the lower side.

    I trust this would be a successful venture - so how about you pitch a price at the lower end to say 25% of you clients. If they bite your arm off at the elbow to sign up, you will know you have under priced it. Increase the price to the next 25% a bit, and see how quickly they sign up. Keep raising your price until you meet a bit of resistance. Once you meet resistance offer these clients an add on to improve the offer.

    Best wishes for your success
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