The PRICE Launch Strategy: A Proven Framework for Scaling Your Course Business

Overview

The PRICE Launch Strategy framework was developed after analyzing a mastermind session featuring Mike Thurston, a successful fitness influencer and entrepreneur, and William Brown, a prominent business coach and consultant. The discussion revolved around optimizing course launches and scaling information product businesses.

During the session, Mike shared his plans to launch a course on growing a YouTube channel and personal brand. The participants provided valuable insights and advice based on their own experiences in creating and scaling successful courses and coaching programs.

Title & Host: William Brown
Episode & Date: I showed Mike Thurston how to make an extra $100K/month or so
Duration: 54 mins
Rating: 4

The Big Idea:

Optimizing your pricing strategy, offering structure, and launch approach is crucial to maximizing revenue and building a sustainable information product business.

Key Insight:

• Pricing is a powerful lever to increase revenue. Test higher price points and don't undervalue your offer.
• Implement scarcity and urgency by making your course available for limited time periods to drive sales.
• Offer a mix of upfront payments and recurring subscriptions to get cash flow while providing ongoing value.
• Structure your offer with a low-ticket entry product and high-ticket backend upsells to maximize customer value.
• Including community and group coaching can boost retention and perceived value, but deliver it yourself only at higher price points.
• Launch quickly with an MVP and iterate based on feedback, rather than perfecting it for months.
• Provide teaser content for free, but reserve the full course experience for paid customers.

Quotable Moments:

1. "The only reason you won't sell at that price is if you doubt if you have like this mental BL if you don't believe in your own product but if you do believe in it you won't have an issue." - This quote emphasizes the importance of having confidence in your offer and its value. If you truly believe in your product, you won't hesitate to price it accordingly.
2. "It doesn't have to be perfect to go live like you don't want to that's true don't want to go back like that is this right is this right just get something that works and just reiterate plus your customers will tell you want see or whatever so I think it's better to do it sooner rather than later." - Alex highlights the importance of launching quickly and iterating based on customer feedback, rather than getting stuck in the pursuit of perfection.
3. "I would do snippet s just one module that's what we did as well with up level and accelerator yeah like one module that was really popular then they want more then they want more." - Will suggests using a teaser content strategy, providing a small portion of valuable content for free to attract leads and create a desire for the full course.
4. "Pricing is a powerful lever to increase revenue. Test higher price points and don't undervalue your offer." - This quote summarizes the key insight that pricing is a crucial factor in maximizing revenue and that course creators should experiment with higher price points that reflect the true value of their offer.
5. "A compelling promotion should communicate the value of your offer, the transformation it enables, and the urgency of taking action. It should also be aligned with your brand voice and values, maintaining trust with your audience." - This statement emphasizes the importance of creating a compelling promotional message that communicates value, transformation, and urgency while staying authentic and aligned with your brand.

These quotes capture some of the key insights and advice shared throughout the discussion, focusing on pricing confidence, rapid iteration, teaser content strategy, the power of pricing, and crafting compelling promotions. They serve as memorable takeaways to inspire and guide course creators in their launch strategies.

Actionable Framework: PRICE Launch Strategy

Pricing:

• Determine your base price and test increasing it incrementally.
• Consider your target audience, competition, and perceived value.
• Don't undervalue your expertise and the transformation you provide.

Recurring Revenue:

• Structure your offer to include a recurring subscription component.
• Provide ongoing value through a community, group coaching calls, or updated content.
• Aim for a balance of upfront cash flow and long-term recurring income.

Irresistible Offer:

• Create an offer that is too good to pass up for your ideal customer.
• Include bonuses, limited-time discounts, or exclusive access to you as the expert.
• Focus on the transformation and results your course enables.

Compelling (Scarcity and Urgency) Promotion:

• Implement deadlines, limited enrollments, or time-bound special offers.
• Communicate the value and urgency authentically and consistently.
• Use scarcity principles ethically to encourage action.
• Create a strong, persuasive message that resonates with your target audience.

Efficient Execution:

• Launch with a minimum viable product (MVP) and iterate based on feedback.
• Focus on delivering the core promise and transformation efficiently.
• Continuously improve and update your course based on student results and engagement.

By implementing the PRICE framework, course creators can optimize their launch strategy to maximize enrollment, revenue, and student success.

The key elements work together holistically:

Pricing and Recurring Revenue create a sustainable business model. Crafting an Irresistible Offer and communicating Scarcity and Urgency boost conversion rates. Efficient Execution ensures you deliver on your promise and continue improving the student experience.

Regularly assessing and optimizing each component, from price points to launch urgency to content quality, will help maintain a highly converting and impactful course over the long run. Seeking feedback and watching student behaviour is crucial to know what's working or needs improvement.

Ultimately, the PRICE framework keeps you focused on creating a valuable offer, marketing it effectively, and delivering a transformative experience to your students. Executing this well forms the foundation of a thriving course business.

How To Use The PRICE Framework

Identify Goals:

The primary goal for the reader should be to create a successful course launch that maximizes enrollment, revenue, and student success. This can be broken down into sub-goals:

1. Develop a compelling offer that resonates with the target audience
2. Optimize pricing and revenue model for profitability and sustainability
3. Execute an effective launch promotion that drives urgency and action
4. Deliver a transformative student experience that generates results and testimonials

Action Steps:

1. Craft Your Irresistible Offer
   • Identify your target audience's key pain points, desires, and goals
   • Develop a clear, compelling promise of transformation based on your expertise
   • Include valuable bonuses, resources, or personal access that enhance the offer
2. Optimize Your Pricing and Revenue Model
   • Research competitors and similar offers to determine a base price point
   • Consider your audience's perceived value and willingness to pay
   • Test different price points and structures (one-time, payment plans, recurring)
   • Incorporate a recurring revenue component (subscription, community, ongoing support)
3. Plan Your Compelling Promotion
   • Determine your launch timeline and key promotional channels
   • Craft persuasive messaging that highlights the offer's value and transformation
   • Implement urgency and scarcity tactics (limited time, enrollment caps, bonuses)
   • Develop a content strategy to build anticipation and educate your audience
4. Execute Your Launch Campaign
   • Prepare your sales pages, checkout process, and student onboarding
   • Execute your promotional content, emails, and social media campaigns
   • Engage with your audience, answer questions, and overcome objections
   • Monitor key metrics (traffic, conversions, sales) and adjust as needed
5. Deliver and Optimize the Student Experience
   • Welcome new students and orient them to the course platform and resources
   • Foster engagement and community among students
   • Seek feedback and testimonials to improve the course and generate social proof
   • Analyze student progress and results to optimize the curriculum and support

Tools & Resources:

• Course platform (Teachable, Thinkific, Kajabi, or custom website)
• Email marketing service (ConvertKit, Mailchimp, ActiveCampaign)
• Landing page builder (Leadpages, Unbounce, ClickFunnels)
• Payment processor (Stripe, PayPal, SamCart)
• Analytics and tracking tools (Google Analytics, Facebook Pixel)
• Customer support and live chat (Intercom, Drift, Zendesk)
• Project management and collaboration (Asana, Trello, Slack)

Measure & Reflect:

• Track key metrics throughout your launch, including:
  • Website traffic and lead generation
  • Email subscribers and open/click-through rates
  • Sales page conversion rates and checkout abandonment
  • Total revenue, average order value, and student lifetime value
• Gather qualitative feedback from students through surveys, interviews, and testimonials
• Regularly review and analyze your data to identify areas for improvement
• Test and optimize your offer, pricing, promotion, and student experience based on insights
• Celebrate your successes and learn from your challenges to improve future launches

By following this action plan and regularly measuring and reflecting on your progress, you can effectively implement the PRICE framework to create a successful course launch. Remember to stay agile, listen to your audience, and continuously optimize your approach based on real data and feedback.

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