Latest / Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint / Stop Overthinking, Start Selling: Pricing Your Online Products with Confidence

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Stop Overthinking, Start Selling: Pricing Your Online Products with Confidence · Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint

• 0:01
  Hello and welcome to the show. Today I'm out and about with the
• 0:03
  kids. I'm not in the audio booth, so
• 0:05
  expect to hear some interruptions in the background.
• 0:07
  This episode is going to be a very brief recording because
• 0:10
  it's a very short question to answer.
• 0:12
  So I got a question from, OK, I can't remember his name.
• 0:16
  I don't have my notes with me right now, but essentially the
• 0:19
  fellow is about to roll out the course and he and his partner
• 0:22
  are thinking about rolling it out AT15K in full, although he
• 0:28
  is worried about losing some people on the lower end.
• 0:30
  So what they want to do, or what he's proposing rather, is to
• 0:33
  release the course at 15 grand and then if there are some
• 0:37
  people who are having, there are some people who want to take the
• 0:41
  course. What can afford then to make a
• 0:43
  5K option or to see what options are available?
• 0:48
  Now, this is one of those situations where it's not my
• 0:50
  area of expertise because I don't sell online courses.
• 0:52
  So I'm not sure what the best way to go about, you know,
• 0:56
  pricing strategy for online courses.
• 0:58
  I'm not sure the best way to go about that.
• 1:00
  But I do know one thing from a sales and business development
• 1:02
  perspective, and that is that if you're going to sit down and try
• 1:07
  to come up with scenarios and try and anticipate everything,
• 1:10
  then you are unnecessarily lengthening the period of time,
• 1:15
  you know, between deciding on something and doing the thing.
• 1:19
  So don't be surprised if you're caught in this.
• 1:23
  If you're caught in this kind of situation and you and your
• 1:26
  partner take maybe two weeks to try and figure it out and two
• 1:28
  weeks that you guys have delayed releasing the course is 2 weeks
• 1:32
  of traction that you could have gotten.
• 1:34
  And even if you don't get any traction, that is 2 weeks of
• 1:37
  feedback that you can take and take and roll that feedback into
• 1:44
  iterations of the future course. So basically what I advise them
• 1:47
  to do is what any typical sales person would do, which is if
• 1:50
  plan A is to roll this thing at A15K, then go ahead, roll out at
• 1:55
  15 K and see how many people buy the course.
• 1:58
  It is only when you've gotten feedback from the market that
• 2:01
  you know whether 15K is overpriced.
• 2:05
  In fact, don't be surprised if you find out that 15K is
• 2:08
  actually underpriced. You might find out that you
• 2:11
  release it at 15K and and if you lease it at 15K and you talk to
• 2:16
  100 people and then 95 of them buy AT15K, then that means that
• 2:21
  your product, your course actually is undervalued because
• 2:25
  basically 95% of the people that you spoke to are willing to buy
• 2:28
  it at that price. So I'm actually finding that 15K
• 2:30
  is too low. But then again, like I say, it's
• 2:32
  not my area of specialty. So do not rely on my own wisdom
• 2:36
  here, if you can call it wisdom at all when it comes to pricing
• 2:39
  your online course. But the wisdom that we're going
• 2:42
  to take away today from a sales and business development
• 2:44
  perspective is if we're just going to stay at home, stay in
• 2:48
  the room, stay on the Zoom, stay on the business conference,
• 2:51
  stay, you know, whatever, keep debating these things endlessly.
• 2:54
  What if, what if, what if We're delaying when we will end up
• 2:57
  taking action. So bottom line is just, OK, we
• 3:00
  have plan A, we have Plan B. So take action, see what
• 3:03
  happens, Plan A, take market feedback and then iterate.
• 3:09
  Take that, add it to the future version of the product.
• 3:12
  But this is one of those situations where you will never
• 3:14
  know whether to roll it out AT15K or roll it out at 15 K and
• 3:19
  make options for 5K access or cheaper or sell it at 15K and
• 3:25
  then look for other alternatives that can deliver a similar value
• 3:30
  at 5K. So it's one of these things that
• 3:32
  you would never know. So my advice to them was 15 K
• 3:34
  was plan a AB. So just roll AT15K, see what
• 3:38
  happens, and then take the feedback for the future.
• 3:42
  So that's all for today's episode.
• 3:44
  Thank you very much for your time and attention.
• 3:45
  If you would like to connect with me for a business audit
• 3:48
  strategy session or you have questions you'd like me to
• 3:51
  answer, the number is 08064662140.
• 3:56
  The country code is +234. For those of you who are not
• 3:59
  Nigerian, this is my WhatsApp number as well.
• 4:01
  You can find me on WhatsApp. Sorry, not WhatsApp.
• 4:04
  You can find me on LinkedIn as Tavi Shima Ayidi, that's my
• 4:08
  name. I'm the host of the show.
• 4:09
  And then I also have a YouTube channel where this audio is up
• 4:14
  and over 1050 something other videos up to this point.
• 4:20
  Just take those as free resources that you can use to
• 4:25
  solve your business problems, solve your sales problems, and
• 4:27
  help improve your businesses. So thank you very much for your
• 4:30
  time and attention. I'll catch you guys at the next
• 4:32
  episode.