A Lesson in Selling Products Online
This is a follow-up to my last blog regarding my new online LinkedIn profile tutorial.
Putting this product together was neither easy or quick. I spent many hours burning the midnight oil recording screencasts, then editing them and finally working out how I was going to host an online product of this nature. This had the effect of increasing my perception of the value of the product, if I was to work out the amount of time spent on it and compare that to my normal training rates then the cost should have been well over £100!
I reconciled myself to the fact that customers were highly unlikely to pay that for a LinkedIn Profile tutorial so I launched the product at £24.99 (incredible value in my honest opinion).
…and then I waited for the sales to flow in……and waited….and waited!
I tried advertising it on LinkedIn (not easy when the word LinkedIn is forbidden!), Google and Facebook and still very little response.
I announced it at several talks that I have recently given and whilst people seemed very interested at the time, sales were still very disappointing.
At this point I sought advice from some trusted associates and the feedback from all was loud and clear….
Online products don’t sell unless they are at a price that offers the buyer a low risk decision
It really doesn’t matter how good the product is and how much I have put into it, it only matters that the customer is unlikely to commit to buying online unless the price is at a level where they won’t feel ‘ripped off’ if the product isn’t what they hoped for.
So with a heavy heart I reduced the price to £4.99 at the end of last week and over the weekend sales went through the roof!
You live and learn with these things but I wanted to write this blog in case you are considering doing the something similar.
The online tutorial is getting great feedback from those that have purchased and can now be bought for the ridiculously low price of £4.99+vat at http://bit.ly/HRFBo0