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Online courses can have many benefits, but it is important to understand why overpriced courses are not a good idea. There are several reasons why overpriced courses will not be successful.
First, overpriced courses are unlikely to attract many participants. If a course costs more than the value it provides, most people will not be willing to spend their money to attend. They will prefer to choose another, less expensive offering.
Second, overpriced courses are not likely to get many good reviews. If participants don't think they've spent their money well, they'll be less likely to give positive feedback. This means that your course may not be able to compete with other courses that offer better value for money.
Third, the number of participants who successfully complete the course is unlikely to increase if you raise the price. If participants think the course is too expensive, they are unlikely to expend as much energy and time to complete the course. Therefore, fewer participants will complete the course, resulting in fewer satisfied customers and poorer retention.
Finally, an overpriced course is unlikely to attract returning customers. If participants think they paid too much the first time, they will be unwilling to spend money again on a similar course.
All of these factors lead to poor value for money for overpriced online courses. It's important that you offer a course that provides fair value for money so that you can attract more participants, get better reviews, and increase the number of successful graduates.
You have developed a new product or offer a new service and are now looking for customers. Without proactively addressing potential new customers on all channels, you will fail sooner or later as a B2B service provider, because: No matter how much online advertising you place expensively, the number of potential leads via search engine marketing is very limited compared to B2C business and is usually not enough to cover your costs in the first place. Therefore, deal comprehensively with the topics of cold calling, advertising letters & lettershop as well as customer acquisition via LinkedIn, Facebook and social media.
Most of your eventual buyers are NOT currently looking for
No matter how great your product or service is, most of the customer groups you have in mind won't need it. Don't expect the number of searches on Google and other search engines to be enough to get enough leads from which you could generate any customers at all. In reality, over 80% of your potential customers are not currently actively searching for your product or service, and therefore not Googling for it. So the only way you will reach these customer groups is through a phone call or letter.
The price is NOT the central decision criterion for your customer
The actual price charged is secondary in terms of your customer's buying decision. More important is to clearly present the benefits of your product or service to the customer in spé and build trust. Address the individual needs, which can be not only the current, but also the future needs of the customer, and see where the shoe pinches, or where problems and potential for improvement lie.
Make sure that potential customers get information on your website
Most of your website visitors are gone faster than you can look. You've invested thousands of euros in redesigning your website? Congratulations, but you would have been better off investing that money in telephone sales. Often, your website is only called up and visited a few times after the successful initial contact and your offer is scrutinized before a positive purchase decision is made. You should therefore make sure that you collect the contact details of prospective customers, e.g. through a newsletter registration, request via contact form incl. the declaration of consent for a later contact.
Most buyers of your products will NOT use them
If you have managed to convince your potential customer of the benefits of your product or services (by identifying and addressing their pain points) and have created a level of trust through communication, the customer will buy - regardless of whether they currently need the product or will use it in the future. The average B2B customer typically buys an opportunity, potential, tool, or even a way to improve his situation, situation, or opportunities that he will want to access and benefit from in the future when he will actually need it. In this sense, he is buying an additional item in his arsenal.
A few of your potential customers are swimming in money, but most are not far from insolvency
Make sure that your offer is aimed at a clientele that is solvent enough to pay the prices charged - and on time. Nothing is more annoying than unpaid invoices, chargebacks and avoidable reminders. Depending on the scope of your service, installment payments or monthly lump sums may be an option. In addition to the option for customers to order on account, you should also offer payments via PayPal, Klarna (formerly Sofortüberweisung) and possibly by credit card. However, note here that additional costs arise.
Without networking and personal network you will not be successful
Without referrals from actual customers who, in good conscience, introduce your products and services to acquaintances and friends entrepreneurs, agency owners or other self-employed and freelancers, you will not grow sustainably. Referral marketing should be a central part of your marketing strategy. Therefore, also consider setting up your own affiliate program to benefit from the network effect.
The great agency death is a problem that will confront many agencies in the coming years. It is expected that by 2023, more than 80 percent of all agencies will be unable to cover their costs.
This is due to a number of factors, including increasing competition, which means many agencies will have to lower their prices to attract business. It's also possible that some clients who turn to large agencies prefer to buy individual services instead of an expensive, full-service offering, which means agencies also receive less money per job.
In addition, increasing technologies are increasing the use of automated processes, which means that much of the work that used to be done by agencies is now done by computer programs. This results in agencies needing fewer employees to do their work, which in turn results in cost savings.
Another factor driving agency death is the increasing competition from new, very low-cost agencies that are often used to replace existing agencies. These new agencies often offer much better value than many established agencies, making them more popular with clients.
Finally, some agencies may also be affected by the impact of the Covid 19 pandemic, as some industries have suffered a severe downturn that has reduced demand for agency services.
All of these factors contribute to the possibility that many agencies will no longer be viable by 2023 because they will not be able to cover their costs. It is therefore important that agencies actively seek new ways to reduce their costs and develop new revenue streams now in order to survive in an increasingly competitive landscape.