The incubator begins with a discussion on Pricing Strategies. Pricing of learning content is a pretty interesting and important topic with a lot of different dimensions to consider.Â
If you price your content correctly, and you will get customers, increase sales, and build a good reputation.Â
Price incorrectly, and you may drive customers away, reduce your revenue, hurt your profitability, devalue your content, and impact the perception of your brand.
Unfortunately, there isn’t a one-size-fits-all pricing strategy that applies to every instructor and their content. There is no one formula or a single spreadsheet that you can use to appropriately price your content.Â
This is because each instructor's content, market positioning, competition, and business goals are different.Â
In this lesson, we will discuss a total of 7 factors methods that could possibly govern your pricing decisions. Quite likely you will have to use a combination of the factors to make your pricing decisions.
These are cost, value, competition, brand, location, time, and your monetization strategy.
Next, the incubator provides extensions to Target Market concepts.