Branding Conversion

8 Conversion Hacks To Triple The Sales Of Your Events, Courses And Coaching Programs

8-conversio-hacks

Selling out your upcoming event, online course or coaching program is a big concern for many speakers, coaches, authors and trainers.

The idea of tracking conversion rates and trying to adjust the sales messages or the landing pages or the content videos or the email follow ups can be a bit daunting.

I don’t recommend trying to increase your sales this way. It’s time consuming and can have little effect on your overall conversions. I also don’t recommend dropping your price, despite that many speakers, coaches and trainers feel that this is why their program is converting it usually isn’t.

The problem lays in both the value and perceived value of your offering.

I won’t break down the tactics for creating a strong perceived offering through brand value, good product design and customer experience (that’s a topic for another time). However I will share with you 8 offer hacks that I use for my clients which you can duplicate today to increase your conversion rate by up to 300%.

Conversion Hack (1) The Guarantee

Adding a guarantee is always going to increase your conversion rate. If you believe in your program and in your ability to generate a result for the customer through your event, online course or coaching program then adding a guarantee shouldn’t be a problem.

Adding a guarantee also allows you to charge more than your competitors, usually 15-35% more than your competitors who don’t have a guarantee without any fall off in conversion rates.

The reason for this is that many consumers are happy to pay a higher price for that peace of mind. Really when a consumer is enrolling into any program, not just yours, they’re taking a risk.

Just to clarify, it doesn’t have to pure 100% money back, no questions asked kind of guarantee. In fact I don’t recommend that in today’s marketplace. I recommend an action based guarantee. Did the prospect actually show up, fully committed, ready to learn and actually try to execute. If they did and were still unable to generate a result, then yes, provide them with a refund.

Action based guarantees are a great way to increase your conversion rates by providing that safety net to prospects while also holding them accountable by stating that they do actually have to put in the work to get the result.

Conversion Hack (2) In direct bonuses

Before you said, “yes I know this Jamie”, many coaches, speakers and trainers get this wrong.

The goal is not to just add bonuses for the sake of adding bonuses. You need to include bonuses that align with your main offering, the event, online course or coaching program but that don’t feel like they should be a part of the core offering.

For example, buying a “sales training course” that comes with a bonus of “pre written sales scripts” is not the best idea as the bonus falls into the same category of the main offer – sales training.

A much better approach would be to look at what happens after the course is completed?
What does the student need to learn next? Or better yet, what do the students need to learn before they go through the sales course?

Maybe a prospecting course, or maybe a mindset course – anything that doesn’t feel like it should have been included within the main offering are the best kind of bonuses.

The prospect actually feels like it’s a BONUS when it doesn’t seem like it should have been included within the main offering.

I’ve found that adding one bonus is cute and can increase your conversion rates but the real sweet spot in bonus numbers tends to be 3. Anything more and the prospect gets a little bit suspicion, anything less and it feels incomplete.

You can see this at play all the time with the big name “gurus” and their product launches online. 3 added bonuses.

Conversion Hack (3) Payment Plans

It’s no secret that adding a payment plan is a great way to increase your conversion rate. As some customers may just not have the cash-flow to support the 100% upfront payment.

You need to make it easy for customers to enroll and sometimes meet them where they are in terms of the first payment.

I suggest breaking your event, online course or coaching program up into a minimum of 4 payments. I’ve tested the difference between 4x weekly payments and 4x monthly payments to see which would convert better. And to my surprise there was very little difference between weekly and monthly payments.

In which case, if you’re comfortable waiting to get paid every month for your program then so be it, however opting for the weekly payment plan on your program has shown a very little conversion drop off rate in our tests.

Also when creating a payment plan there is always an element of risk in it for us as the speakers, coaches and trainers. The customer who just drops out at any time or cancel his/her credit card which would leave us out of pocket.

One way to get around this is to add an extra percentage to the payment plan, anywhere from 15% – 25% I find is quite normal. Why that may seem quite high it is justified because of the risk that you take as the creator and in the way that you structure the offer.

For example, let’s say that you’re selling a $5,000 online course, live event or coaching program for $1,000 during your launch. This would be a $4,000 discount during launch week if they commit to paying 100% of it upfront.

Then for the payment plan you might offer 4x payments of $325 for a total of $1,300. While that is an extra $300 in price you can reverse it and simply position the offer along the lines of “Save $4,000 with an upfront payment or save $3,700 on our payment plan”.

So rather than “increasing” the price for the payment plan customers and punishing them you are simply decreasing the amount that they save. While this is a simply adjustment in the way you position your offer it can have a big effect on the emotions of your customers who commit to the more expense payment plan.

Conversion Hack (4) Access To The King / Queen

I’ve said this time and time again to my close friends and private clients and I’m going to share it with you now.

Very rarely will someone “pay for your content”.

Despite what they say, they are paying for you. Your spin on the content, your views, your personal interaction with them and your personality. Content is everywhere and your content could be pieced together in some way, through books, forums, free articles in shape or format if the prospect tried hard enough.

With that being said, providing the student with access to you, the expert can be a HUGE benefit to them.

During a launch your brand is raised and you are perceived as this all mighty being with all the answers, that’s the idea of a launch. It’s to expand and elevate your brand to new levels, share your message all the mean while being financially rewarded for it.

So when it comes time to sell your event or online course give the students personal access to you. It may be in the form of personal coaching calls, or a mastermind meet up in person, or even a coffee at the local cafe if you’re dealing with local customers.

The upside in conversion rates and customer satisfaction that a personal interaction can bring to your program is huge. Never underestimate the power of proving your students with personal access to you directly within your offerings.

Conversion Hack (5) Community Aspect

Providing your customers with a sense of community can be a big conversion swinger.

It can also tie into the last point of having access to the king or the queen. Providing a sense of community can also help to reduce your refund rate due to the sheer nature that everyone else is supporting each other.

The community can be as simple as a Facebook group, a live meet up or even a private members area forum that you’ve created online. Whatever it is, having the ability to connect with you and other students throughout the program is a big plus for launching and selling out your programs online.

Conversion Hack (5) Scaling Packages

I’ve witnesses this element come into play in the recent 12 months is the idea of scaling your program from standard to advanced.

This usually looks like 2 or 3 pricing options that contain additional training. The upside to this is that you’ll have the opportunity to generate additional profit and the prospect feels more in control of their purchase.

Rather than having “one size fits all” option to your program you have a 2 or 3 levels that range from starter all the way to advanced.

The higher packages may include additional training, support, tools or templates as the lesser options would just constrain the training.

On the tests that we’ve ran in the past, the middle option tends to convert at the higher rate. So ensure that when you’re crafting the 3 options the middle option is the easiest to deliver for yourself and your team as it’s going to most likely be the option that everyone takes.

 

Conversion Hack (6) Scarcity Option 1 – Start Time

Supply and demand is a real thing when it comes to selling out events, online courses or coaching programs.

However having scarcity during a launch on a program comes with a certain level of in-congruencey if you don’t approach it correctly. Simply saying “this offer explains on X date” when you are launching your program is not going to build enough pressure in the prospect to take action.

You need to have real world, real scarcity – The days of lying to your marketplace and trying to pull the wool over their eyes are gone. scarcity is something which most people don’t buy into – Unless its justified. 

The best way I’ve found to justify scarcity is by adding a start time to your program.

For events this is quite easy as you are either at the event or you’re not. However for online courses and coaching programs this is overlooked. You want to create the sense and even run your program as a group.

This will allow you to set a starting date when it comes time to making your offer. A legit reason behind scarcity is always going to convert higher. And if you can give the prospect a reason why they should act now, IE “because class starts on X date we’re going to be going through it all at the same time” then they’re more able to buy into the scarcity and feel the pressure to act.

In short – Whenever you make a claim in your offer, you need a justifer to back it up. This helps to silence  the prospects automatic response to claim the statement as total BS.

 

Conversion Hack (7) Scarcity Option 2 – Limited Quantity / Fail-safe

Speaking of adding a start time, including limited quantities during your launch is another great approach to increase your conversion rates. However many, many, speakers, trainers and coaches get this wrong.

Simply saying “we have 20 seats for this online course” isnt believable, its an online course, everyone is well aware that you can take on more people quite easily.

On the other hand, if you did a good job at adding bonuses to your offer, high valued bonuses that the prospect considers to be valuable (not you just wizzing out numbers of “valued at”), then you should always tie a scarcity with limited quantity to those.

For example If your goal is to sell out 20 seats of your online course and you know that your bonuses are amazing, if it be 1 on 1 time with you or additional tools or training – Limited the quantity to 20 and add a justify. “I cant take more than 20 people into a 1 on 1 session because of my time” or “we only have 20x of these printed workbooks left to give away” whatever it is, you need a justify as I said before.

Now what usually happens, if you’ve structured your bonuses correctly is that you should almost always break the scarcity number within the first few days of your launch.

For example on one of my clients first launches, we wanted to ensure that they sold at least 20 units. So, we added a bonus 1 on 1 session to the first 20 people. Sure enough, 20 people enrolled extremely quickly to simply gain access to my client. With another 15-20 slowly enrolling soon after

So adding a scarcity with a limited quantity can almost act as a “guarantee”  and as a failsafe of the units that you should sell.

You want to sell 10 people into your online course? Then add a bonus that is limited to the first 10 people will generate an influx of 10 sales as soon as you open cart. If you have the audience size to captisize on then add a limited quality to your bonuses that match your launch goals.

Conversion Hack (8) 2 for 1 or bring a friend.

I don’t see this option get used a lot outside of the event space. The idea of bringing a friend along to the event or giving their friend access to the online course or even doing a group coaching session package is a great one.

It lessons the financial blow to the customer as they’ll most likely split the cost with their friend and it enables you to draw in more customers for further up-sells and longevity down the track.

People also enjoy taking “risks” and trying “new” experiences with friends, if you can create this during your launch offer then you should have no problem filling up your online course, event or coaching program.

 


If you were to split test a standard program with the training only vs a program the above 8 conversion and sales hacks the second option would always win.

When you go to craft your offer begin to go through this list and try to incorporate as many of these elements as possible. Your students will thank you for it and you’ll see quite increase in your sales online.

 

Jamie Stenhouse
Jamie Stenhouse is an Entrepreneur and Marketer who specializes in assisting business owners and clients to generate customers online – in any industry. With a sharp mind and high value on creating profitable results in the online marketing arena
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