An alarming study conducted by the University of Pennsylvania showed that online courses have an average completion rate of 4%!
That means as an online course creator, 96% of your customers are failing to see value in your courses.
Failing to impact the majority of your clients is a recipe for disaster. Not only does this guarantee a low client retention rate, but it also means your chances of growing your client base are slim. After all, would you purchase additional courses from an instructor who didn’t deliver results the first time around? Would you then go on to recommend their courses to your colleagues, family, or friends?
No, you wouldn’t. In fact, you’d probably be upset that you spent money on the course in the first place––not to mention time and effort. You may even want a refund! Failure to deliver an impact to clients is a top reason why businesses across all fields fail. And the sad part is: it’s always preventable.
So, why then is the completion rate for online courses so low?
Because simply put, most online courses don’t focus on the most important aspect: LEARNER SUCCESS.
Many online course creators fail to realize that education isn’t just about acquiring new information or developing new skills. Best selling online course developers know that education is all about behavioral change. Your students aren’t taking your course to learn for the sake of learning. Rather, they’re taking your course because it offers them a behavioral change that will give them a solution to a problem.
Think about it. People don’t go to go therapists to learn about psychology. They go to therapists to learn positive behaviors and techniques to cope with problems outside of a therapy session. And a good therapist helps them do that.
A good educator does the same. You’ll want to help your students create positive behavioral change outside of your e-course. That’s how you sell an online course. Focusing on the happiness and success of your students is the foundation of your own success. Your students will see value in YOU and will go on to take more of your courses, give testimonials, and recommend your courses to other consumers.
Secret #1: Differentiate Your Course from the Rest & Focus on the Benefits/Results
Once you’ve established what your online course can do for your students, it’s important to emphasize what makes your course different. In order to differentiate yourself from other sellers, you must understand the different reasons why people purchase online courses in the first place.
After all, no one likes to spend money on something they can get it for free. This is a dilemma many people selling online courses face. Thanks to the Internet, people have access to free information on anything and everything right at their fingertips. So why on earth would students willingly pay for information they can get for free?
Convenience. As previously mentioned, you can find everything on the Internet. But that’s also the problem. The Internet can be a black hole, and we’ve all been sucked in at one point. How many times have you gone to look up something only to find you’ve wasted an hour searching for something else? Not only that, but all that new information can also be overwhelming.
Your courses should save students time and frustration. They should help limit information down to only what is needed by students. A best selling online course saves time by collecting information and creating a place where students can easily access it.
Accountability. If college professors didn’t take give exams, how many students do you think would study? You can create accountability in your e-course through support/consulting hours or through the course framework. Personal responsibility will motivate students to keep up with your coursework.
It’s simple logic: no one likes feeling that they’re wasting their own money. This also important for you as an individual looking to sell your online course to note.
Don’t make your consumers feel like they’re wasting their money!
Outcome. We’ve touched briefly on this earlier in this post. In your course, you’re selling benefits, tangible results, and an experience.
What results can people expect if they buy and implement your course? How will the knowledge acquired make people feel more fulfilled? What can you “promise” them?
Make your outcomes clear. Selling benefits is the secret to selling anything—from coffee to desktop computers. This brings us to our next point.
Grab more tips here: How to Successfully Market and Sell Your Online Course
Secret #2: Shift Your Mindset from Information to Transformation
Best selling online courses sell transformations, not just information.
As we mentioned earlier, you need to sell RESULTS.
Do market research to see what your customers want to achieve, and create your online course with the objective to help them reach their goals in mind. Your customers want a transformation. They want to get from Point A to Point B—where they are now to where they want to be. Your job as an educator or online course creator is to get them there as quickly and efficiently as possible. Think of your online course as a shortcut and yourself as a guide. That’s what you’re selling. And that’s what people are paying for.
Now I Have A Quick Question…
#1 What are you doing today to make your online course stand out from that of your competitors?
#2 What other tips about creating and selling online courses can you share with us? Leave your comments in the section below!