What type of e-commerce payment plan should I use for my education website?
I have a series of DVDs that I made for people to pass a specific test. I have put the video lessons on a website and have also added practice tests, quizzes and various exercises. I'm having trouble thinking of a pricing model. Should I offer a one time payment to customers? Should I offer a monthly subscription plan? Should I continue to sell the DVDs as well or just go with the website?
Why can't you offer a hybrid depending on how often people have to past the test?
They can have access to the materials at any time via a monthly subscription, or they can have access to the material for a specific period of time using a flat fee. So the choice is in the students hands.
If it were me, I'd ditch the DVDs and make your system completely e-learning.
Well, Before preceding with choosing any plan I would say first try reaching out with the visitors who recently buying your tutorials or DVD. It would be better if you throw them a questionnaire which seeks out the answer of this question. But If I talk about my opinion them I would say if your DVDs and videos lessons are that much interesting I would love to have a monthly subscription plan because this would not hurt my pocket and I can anytime switch the subscription to hold if I am not liking it. Why I think it would be better is just because of it gives the power to stop at anytime and trust me this is again going to help you in generating revenue. What are in the mind of people it they think just paying few bucks for trails isn't that much odd.... because I always have an option to opt out but one time payment makes then think a bit as for one time payment there is a need of thinking before preceding.
Shopify works great but make sure you have a chargeback solution like centurionid
Hello Randall, from a business development point of view it would be of greater value to offer a monthly subscription. This would require you to also commit to keep providing your products on a consistent basis.
Having clients commit to a longer term has a great benefit, guaranteed income for a longer period of time. It is more expensive to obtain a new client than to keep an old one.
As word of advice I would have to say that you need to keep selling the DVD's because this is how people got to know you. You can gradually move to solely provide your services through the website on a later basis.
This can be done by leaving subtle messages to clients that you will be migrating to the website in six months or something of that nature. These hints can be given when sending an email out to your clients (very cost efficient) or social media channels.
If you would need help with the website, my team and I can also help with that, simply send me a message and we can see what works best for you.
I hope this helps a bit.
My strategy would be to have the intro videos as freemium, with a pay-with-a-like option, or else email-capture opt-in for your mailing list.
Then, have a subscription model which is annual or lifetime. Every so often you can run a promotion with a coupon-code for a discount from your regular fee.
If you want to extend your distribution you might consider partnering with MightyDeals or other Group Discount places that have huge mailing lists.
I would consider selling DVDs until they stop selling.
I assume you already have a web designer/developer, but if not I'd love to help. I'm very good at setting up WordPress ecommerce sites with secure payment gateways, pay-with-a-like, etc.
Video lessons should be subscription. As for quizzes and tests... can they be taken/scored/stored online? Or do you provide a pdf document for download? If delivery of quiz/test is online, I think just make part of subscription. If downloadable documents, then charge flat fee via eCommerce. The benefit of a secure access site for viewing/taking the quizzes is that it makes it a bit harder for people to share with others (although not impossible).
Hi Randall, contact my office and lets explore the options.
I am in the e-commerce payments industry. I can direct a few different options.
Offer the customized payment like ...give them option like per test, per week, per month and unlimited yearly option.
Please do share the feedback and thoughts.
Why not give the first lesson for free, then create a subscription plan for the remainder of your videos.
You should check out some other companies that do something similar. For instance, check out TreeHouse or Adobe.
In the end, tinkering will be needed, and whatever you do at the beginning likely won't be the same as what you'll need to do as your subscription/customer base grows.
Interesting concept. I would think as a starter, a one time lump payment through either clickBank ClickSure, or Pay Pal, you need to keep a large amount in a cash reserve for those who claim a return as well. What means of accounting do you think you would use, I would suggest Quick Books, is is fairly easy to set up and because it is maintained on your PC files easily accessible. The reason I give you to not begin with Payment or access plans are there are so many folks on hard times in this economy, which increases your risk of not collecting. Your clientele is also untested at this time, credit on materials sent out and unpaid for can burn holes in you profit/ Loss statements as well.