Teleseminars are a great way to develop learning content products. They're also a great way to build your information or advice business. But they do take time and it's important to get a return on that time back in the form of income.
But how?
Well there are at least ten different ways or business models to get a return from a teleseminar. These include:
1. The freemium.
2. Direct charges
3. Aggregate charging
4. Record and sell as a digital product (MP3).
5. Record, transcribe and sell as a mixed digital product.
6. Record and sell as a CD (i.e. physical product).
7. Record, transcribe and sell as a CD and book.
8. Record and sell as a CD (physical) with a digital version (MP3).
9. Record, transcribe and sell as a CD and book with immediate access to a mixed digital version.
10. Sell access as a monthly continuity program.
11. Include as part of a monthly continuity package.
Creating a pricing model at first glance for the different models might be overwhelming at first glance. Fortunately, it's not as complex in reality as it looks in theory.
In fact, in reality no one much bothers with a pricing model.
Why?
Because first off, the price tends to be high enough and the costs low enough that the usual reasons for developing a pricing model don't matter. And second, setting your price is usually done by testing prices and monitoring the result. And third, because most of us are far more interested in real life than we are in theory. Let alone able to work with the math involved.
There are three basic pricing models.
1. For digital products.
The basic pricing model for a physical model is revenue equals remainder of sales times the remainder of price less collection costs and bandwidth costs all of which is less advertising and site costs and teleseminar costs (R=Qx(P-CC-CB) - (CA+CS+CT) ) where quantity sold is a function of price (Q=f(P)).
2. For mixed physical and digital products
For physical products you still have the same basic pricing model. However, you need to include both the cost of the product itself and the cost of the transport. The formula then becomes revenue equals the remainder of sales times the sum of the price plus the charged transportation less the sum of the unit cost to produce the product plus the unit cost to transport plus the collection costs plus the bandwidth costs all of which is less the sum of advertising, site costs, teleseminar costs and one-time production costs (R= Qx((P+PSh) - (CP+CSh+CC+CB) - (CA+CS+CT+C1P) ) where quantity sold is a function of price and shipping price (Q=f(P+Psh)).
3. For physical products
Physical products are essentially the same as the mixed products less the costs associated with the digital portion. In other words the cost of bandwidth becomes zero however, the rest of the calculation is the same.
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Glen Ford is an accomplished consultant, trainer and writer. He has far too many years experience as a trainer and facilitator to willingly admit.
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