Pricing Strategy Feedback Please. TIA

[japancool]

You got me there, Sir.

Newchodge is a madam. No, not that kind of madam.

 

[fisicx]

That's correct. You are indeed a troll. But I will give you the fact that the quality of the content is directly linked to the price/value of the product - you're right there. You didn't create a free account to check the quality of the free content though? Don't you know, you should never judge a book by its cover bro?

So I've now done as you suggested and signed up for free.

The user journey isn't good and there is nothing I can see that can't be found elsewhere in a variety of media. Which brings us back to your original question. Start ups and Entrepreneurs don't have the time to read to or listen to hours and hours of content much of which may be irrelevant. There is no incentive for people to pay.

A chap I work with does video and podcasts for music. He posts 2-3 minute snippets on youtube and tiktoc. This pulls people into his site where he sells single course and packages. It is niche but very popular. Prices start at £1.99 for a single video.

There are all sorts of models you can test. But the biggest challenge (apart from marketing) is going to get people to pay for your content with out a very strong hook.

 

[Mark T Jones]

I asked for insights into my pricing strategy not a review of my business's feasibility.

Putting aside the childish attacking of anyone who says what you don't want to hear, you have fallen into the all-too-common traps of newbies who are excited about their idea - made slightly more disturbing in this case as you are essentially selling business advice. Your pricing & business feasibility are 100% entwined.

Rule #1 - If you want to get good advice, you have to give good information.

At this point, all that we really know is that you have a site full of business articles, that you believe will appeal to 'everyone' (see rule # 2) and that is somehow different to all the other sites out there.

With no decent information available, we've followed the link to your site, which even you seem to agree isn't fit for purpose and won't attract paying customers.

I actually remember the launch of this business Circa 2009 - it made similar claims re content, with the advantage that there really wasn't much competition. They knew exactly who their target market was and had the benefit of BIG support from media and Dragon's Den investors. It now just trickles along.

Rule # 2. The essence of marketing is that you absolutely have to resonate with a clear and defined group of people.

You can extend from that point, or - very occasionally - you will get an accidental win that wasn't your intended market - which is a win. Attempting to market yourself to 'everyone' or to 'entrepreneurs' is a bottomless pit.

From your demeanour & the limited information available, I'd suggest you are leaning towards a younger demographic - still nowhere near concise enough. First step is to eliminate the majority - who are after quick-fixes and easy answers (ie who want good advice without good information or research). Depressingly the best way to get them on board is by offering hacks and shortcuts - none of which will work, but you will make money. That process will go some ay towards defining a target market, though there is still a lot to be done.

Overall, my advice is to wise up and start thinking in terms of your business proposition, not of a dreamer who has put together a basic product in the conviction it's a world-beater.

 

[stokes89]

On the pricing front, I definitely wouldn't be going in cheap. It would put many off. A good mentor or an expert in one of the fields you are providing courses for will not be cheap, if they are I would definitely be questioning their skills as a consumer.

Why do you want loads of entrepreneurs from all over the world as you say if they are not prepared to pay for quality? That wouldn't be your target market as you say you want to provide a premium service.

I would of been your target market a few years ago, not as a entrepreneur but as someone who likes to learn from courses from experts, as I find the educational system outdated. I would pay maybe a few hundred for a course but would research the person or company offering it, to make sure its not just another wannabe "Guru". I would listen to podcasts from company's or creditable entrepreneurs then research that person as many do courses.

For the mentor or field expert, I would expect to pay around £50 to £200 an hour for their time in certain fields mentioned above.

I would recommend a subscription service with the expert or mentor plus the courses included. And expect people to pay a couple of hundred per month, that's the audience I would target.

A true entrepreneur would outsource services like accounts, marketing etc, sticking to what they are good at. But some people like to educated themselves and that's where your course comes in.

It's good you have done a mvp and that's why some other posts say to niche down. You are testing your product but to who, who was the mvp designed for? Surely not just every entrepreneur.

On a side note, as I may of been someone interested in this a few years ago, some of your comments were disrespectful and rude. My research on the person, seeing comments like that would of put me straight off. I do check socials and forums before doing courses to check their credentials.

Good luck on your journey.

 

[LinkedInCoach]

why not test the market? Call 20 people on your list and ask for feedback on interest and prices?

 

[Blood Lust]

Hello entrepreneurs,

I hope you're all doing well. I'd like to reach out to this amazing community for some valuable insights and guidance please.

Over the past two years, I've been on a journey to create an education platform tailored specifically for entrepreneurs and business people. This venture comes after the sale of my first two businesses in 2019 and 2020.

The platform is packed with a library of over 150 courses in the following categories:

1. Entrepreneurship & Strategy
2. Accounting & Finances
3. Sales & Marketing
4. HR & Recruiting
5. Leadership & Management
6. Investing & Real Estate
7. Blockchain & Cryptocurrency
8. Digital & Ecommerce
9. Programming & Web Development

But what truly sets us apart is our commitment to providing users with a unique experience. We've integrated a business mentorship program and learning productivity coaching add-on into the product. This means that every user will have access to a seasoned entrepreneur who can offer guidance and support on their journey.

As we approach the launch of our MVP (minimal viable product) over the past three weeks, I've been grappling with one crucial aspect: our pricing strategy. I'm passionate about reaching as many entrepreneurs around the world as possible, which is why I'm reluctant to set excessively high prices. However, I also want to ensure that our platform maintains its quality and stands as a premium service in the market.

So, I'm reaching out to you for your thoughts and advice. How much value do you believe an education platform designed for entrepreneurs, complete with built-in business mentorship and an accountability coach, could bring to your career?

Your insights and opinions would be incredibly valuable in helping me make the right decisions for this venture. Please share your thoughts in the comments - any feedback would be greatly appreciated!

Thank you for your time and support.

Warm regards, Lewis

You could identify some companies very similar to yours and ask them for a quote pretending to be a potential customer.

Ultimately you will need to test demand for your services to set the price right.