Online training: 8 levers to take off your C.A
Perhaps you ask yourself a certain number of questions when you look at your sales statistics: why is my AC so weak? Why are these infopreneurs that I watch on their YouTube channels making thousands of dollars and not me?
It is true that it can be annoying … Suddenly, you are a little lost and no longer know what to do: what is working? What should you avoid doing?
Finally, what is the difference between an information product that hits the internet, and a business that is growing, and another business that is a total failure? If you want to know, then read right through …
With the level of competition online today, it is absolutely essential that you stand out from what your competitors are doing. I know, it’s not always easy … you can also read Online training: how to monetize your knowledge.
The importance of positioning
The success of a business is often played upstream of the product itself. It is already necessary that you have chosen an adequate positioning and that you have an offer which is related to this positioning.
Ask yourself a simple question: “What is the problem I want to solve?” ”
You have to choose a precise and nested positioning, because if your positioning is too general, you will run into leading sites for a long time, and you will break your teeth in front of them.
Why would visitors prefer to trust your blog out of nowhere, with someone they do not know, when there are already long established established values on the market?
When faced with big market players, you have no chance. You must specialize in a specific field.
Solopreneur: gaining credibility
There is no secret, to succeed in selling on the internet, it is all a question of trust. You have to patiently build your credibility. You have every interest in going over a specific issue. Example: “weight loss after pregnancy” or “dietetics for athletes” if you are in the fitness niche.
It will be much easier then to make sales on a very specific field than if you are on a too general topic. Become the leader of your micro-niche!
Your first lines of work to boost the sales of your online information products would already be to work on the following points:
- The positioning ;
- Marketing strategy ;
- Your target ;
- Your offer.
This is what will make you able to differentiate yourself, become a benchmark and be credible, because everyone will talk about you in your field.
From there, you need to target a market with enough people who have the problem you are going to solve. At the same time, you need to be specific enough so that people with this problem understand the value of investing in your program.
Do not try to do the same thing as your competitors, “think different” as the apple brand would say – which I hate, but that is another debate! Well, I feel that I’m not going to make friends only by saying this, but it does not matter: I always said what I thought and I don’t mind being divisive …
1 – A quality offer
This may seem obvious, but online training must be of good quality. However, in the online training market, there is everything and anything, at all prices. And the infopreneurs who are doing well, and who last despite the years, are the ones who sell quality information products.
Make quality with your information product, it means that you do not offer a mundane online training, but a “customer experience”. You are not there just to pass on information. For example, this is going to be all the extras that make this famous ” client experience “ : community exchanges, proximity between the expert and his audience, face-to-face meetings, monitoring of students in the training, etc.
These are the elements that will make the difference in the perceived value of an online training at the time of the choice.
2 – Your authority and your branding
Again, don’t think that customers buy only your training. In fact, they buy having an experience with you, that is to say that the opinion they have of you, on your personality, will count enormously.
Branding, authority is built over time, but it also depends on how close you are to your audience, how you answer their questions … the “little touches” you have for them.
Then to build trust and envy, you need a “Irresistible offer”, where the perceived value compared to the price is largely in favor of the customer. As with Auchan, the customer must have an effect “Wow” !
3 – The price of your online training
This then brings us to a fundamental element: the price. As I have just explained to you, the perceived value compared to the price must convince your customer that even if the product is expensive, it is a big winner and that it will win for at least 3 or 4 times its price!
In terms of price, there are several things to know, because you have to be consistent according to the format of your digital product: PDF, video, audio, multimedia… If your product is an ebook, the price will have the value of a book , 20 to 30 euros max.
If you do video or audio training, the perceived value is already starting to increase a little. It will also depend on the promise you make: a “small” program of 4 modules, but which brings a transformation from situation A to situation B, with real results, can be very expensive.
4 – The psychological levels
You should know that customers have a psychological price level: if you sell your product up to € 100, the decision is relatively quick. You will sell fairly easily. If you sell between 100 and 500 €, as the sum is larger, you will have to create a lot more confidence and be more patient.
If you sell beyond 500 €, it will require a lot more work beforehand to convince with your offer. You’ll need to “brand” your online training, create a lot more promotional content and build trust.
What I want to tell you is that you don’t sell a product for € 47 or € 67 in the same way and coaching for € 2,500, for example. The strategy that you will implement must be consistent with the price of your online training.
If you sell training to € 500, you can’t just redirect traffic with a link to your sales page. We will have to make “mayonnaise” by creating content around it (Facebook live, webinar, free workshop…).
5 – The commercial animation of your online training
Another point I wanted to discuss with you: commercial animation. The more you will create different products, the more you will be able to do commercial animation, that is to say to offer rotating promotions on a particular offer. You need to create a product catalog.
This will only be possible when you have at least 5 or 6 information products.
6 – Know your figures
Any good web marketer sets himself KPI (key performance indicator) i.e. measurement indicators. If you can’t get your sales volume off the ground, KPIs will be very useful!
If you pay for ad campaigns on social networks and you pay for an auto-responder, these costs must be deducted from the sales revenue …
Do you know your webmarketing figures? This is a fundamental question that you must answer. Do you know what the sales conversion rate of your online training is?
Do you know the cost of acquiring your prospects? Do you know the income per prospect / client? Rest assured: no need to have done special math to know these KPIs: it is a question of making simple divisions and multiplications.
7 – The cost of acquisition
The cost of acquiring a customer is the amount you have to spend in order for the customer to make a registration or purchase on your website.
The process is as follows, there are 3 phases:
- The acquisition ;
- Conversion ;
- The sale itself.
However, most infopreneurs reason as follows: I have “X” people who come on my digital training and that generates me “X” euros of C.A. Except that … they do not think about how much does it cost them. How much does each prospect make for them?
“Am I profitable?” “ This is the question they should also be asking! They should ask themselves how much does it cost them to acquire a prospect (if they run Facebook or YouTube ad campaigns for example) + the cost of their autoresponder.
If each prospect costs me € 1 to acquire it and earns me only 0.50 cents, I am in deficit, I spend more than it brings me. If on the other hand each prospect costs me 1 € but brings me individually 2 €, I tumble X2.
To find the cost of acquisition, divide the cost of your ad campaign by the number of conversions.
Example: € 300/500 = 0.60 cents.
In this example, you paid a $ 300 ad campaign that brought you 500 new prospects, at an acquisition cost per customer of 0.60 cents. You are profitable.
The conversion rate
The transformation or conversion rate, meanwhile, is the ratio of the number of prospects who have become customers. In other words, they made a first purchase or subscribed to your list when they were simple visitors at the start …
The average transformation rate is between 1 and 3%, it is obtained by doing the following calculation:
Number of transactions / number of visitors
If 1000 people visited your site last month while 40 subscribed to your mailing-list, your conversion rate is 4%. Above average, it’s very good!
8 – Average income per customer
Average income per customer, on the other hand, is interesting to calculate to gauge recurring expenses. Over a given period of time, if the average income per customer is high, it means that each of them earns you more than what you invest in your business.
The calculation is as follows: C. Total / average number of customers or subscribers.
If during the sales process you know your numbers, you know if there is a problem with your sales or not and where it is located. These KPIs will help you make the right decisions to make more sales of your information product online!
Make the right diagnosis
Where does the problem come from ? Is the problem at the acquisition level: you have a good sales conversion rate but not enough customers? Or do you have a fairly large traffic, but behind that, the conversion rate from visitor to subscriber to your mailing-list or from subscriber to customer is not good?
In the latter case, it may be the offer or the target that is not good, or even your sales pitch …
And then, alongside the program or training that you are selling, there are the “next to it”: options, bonuses, upsells, etc. These elements reinforce the attractiveness and add value to your offer.
If you have several training courses in your catalog, you can make a “pack” of all or part of your training courses and the sell more expensive…