Making More Money Means More
The other day I showed you how to sell your online course. That was a long post about your landing page and the 20 different sections to strongly consider including. But if you want to make more money, there's a strategy I didn't discuss. So I'm sharing it now.
How I Learned This Trick
Years ago I wrote an eBook that many people enjoyed (it's one of the two that's in my eBook bundle). Initially I sold it on Amazon. Later I started selling it on my own site. This is what led to me learning this valuable lesson when selling digital products.
I got an email that said, “I would like to share this with my team at work – there are 20 of us – and I'm wondering how I can buy a corporate license.”
You can imagine my shock. It was a PDF. I just assumed people would buy one copy and email it to anyone they wanted.
But that wasn't the case.
I know because it didn't happen just once. Several times I would get an inquiry about bulk licenses.
Years later I was working with Carey Nieuwhof on his first online course. We launched it but started getting questions about team licenses.
It's why, when I compared membership plugins about a year ago, I included group / team access in the comparison criteria.
The One Trick to Make More Money
The trick is simple to understand but may take a bit of work to make a reality. It's this – create more than one version of your product, where you offer different quantities of access available.
If you've done the work to create an online course, why not make it available to teams or groups?
For Carey, we didn't roll it out on the first version, but by the third launch we had it. And guess what? Teams and organizations were buying it.
He offers a single license, a five-person license and a ten-person license – each at different prices.
That's right – the same product makes more money based on how many people are going to experience the course.
It helps because they each get their own workbook – which makes the course so much more valuable.
Check Out This Great Example
The other day I was sharing this insight with someone and I wanted to show them an example from their world – the technology education space.
You can check this out yourself – it's an online course for Laravel developers to learn about serverless programming.
Jack Ellis implemented the pricing perfectly. The main price you see is the solo price. But next to it, it gives you a chance to look at team licenses.
It's the perfect way to offer greater access to teams that want to join the course together.
Even more importantly, it's a fantastic way to make more money selling your online course.
In a future post I'll show you how to implement this in WooCommerce, if you're using that cart solution for your online courses.