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If you’re interested in creating a free course or a paid course you might be wondering “should I make it free to attract a lot of people or should I make it paid so that way i can get more money.
Advantages and Disadvantages to doing both
When you’re doing kind of a free course there’s a whole other world of audience that you might get.
When you’re doing a paid course you might actually get some kind of return.
So I think it’s nice to do a little bit of balance of both but let me share with you some insight and what I did earlier this week with my tradersfly business and YouTube channel.
What I did was I’ve got some live sessions.
I’m doing on our rise to learn or the tradersfly channel so if you don’t know I run a YouTube channel, traders live for investing options and that kind of thing.
I did basically a live class or promoting a live class on building an options portfolio for just 97 cents.
So what’s the point of 99 off?
Most people don’t get it unless you’re from the marketing perspective or thinking about it the right way.
Free versus Paid Material
Let’s say I get a thousand registrants out of that thousand, how many people might actually buy something at the end of the session?
In my case when I’m running a business or if I’m running a charity it’s a different thing.
I’m trying to help as many people as possible.
If I’m running a business the point of the business is to make money to grow and of course to help people but the business needs money and money is your blood.
It’s your lifeline to be able to survive in order to pay the employees and expenses.
So in order to find quality buyers I need to somehow create some barriers.
If I made it free and now I’m spending a lot of time answering questions for l 600 people I got to answer questions that’s a long time and that might not be as useful.
Whereas, if I do paid where it’s almost free now what I know is these people are happy to get in they think it’s a great deal and they’re willing to open up their wallet.
Now we’ve got their wallet open, we know they’re willing to open their wallet because they’re able to pay 97 cents.
The point being here is I know these people are able to open up their wallet and now I know they are quality buyers or potential buyers because they even have a credit card.
I’m not saying it’s a full filtering process.
It’s not like I’m totally getting rid of everybody but it’s kind of like a filter for air; it’s not going to filter everything that goes through it.
The point is I’m trying to filter these buyers so out of a thousand maybe I filter it down to 300.
Now at least h’m looking at 300 that’s a lot less than focusing on a thousand and I can hone in and give more quality attention to the 300.
So doing a paid session is fine depending on the price level.
If you’re doing like a regular paid session around 297 dollars which is more expensive and it really will filter things out and it’ll be much more qualified.
If I’m doing it for 97 cents, it’s not much but trying to just eliminate a lot of the free loaders or people that just won’t even open up their wallet.
In my case I’m actually seeing who wants to open up their wallet to be able to buy this type of product.
