I am publishing my first course. I wanted to get insights based on your experience that what can be the best pricing and coupon strategy?
Should I initially keep the price low, so that I can get more conversions and more reviews? and once I get initial traction, then I will change the prices.
OR should I keep the price high and give coupons to the users. But in this case, organic users would not be able to see coupons.
Please suggest the best pricing strategy as per your experience. Thanks a ton
If you are opt'ed in to promotions (which is default and what I suggest), the normal price per course will be $10-12 or so, where you make $4-5 per sale.
I price my video courses are $199, and practice tests at $99, but they really never sell at those prices, that is not the model of Udemy.
The sales you will get are from one of the countless sales Udemy has, think my last average was $4.85 or something in that area per sale, Udemy is a bulk game, they have a lot of students, and if you are wanting $200 per sale, it is most often not the platform for it (although a very small group of instructors make it work here).
If you price low, lets say $20, then to the student it will see it as less valuable than if it was priced at $199, they are still paying $10, but it is either 50% off or 95% off.
Free courses face the same, they get rated lower because they are seen as less valuable vs. something they paid for, odd but true.
Thanks a lot for your quick revert. I got your point of keeping the course price at the actual value so that the perceived value is high.
Also if you can share your experience of using coupons and how to get early reviews that would be great. Thank again