If there was ONE thing that I would class as “constant” in the Online Education industry, it would be change. Digital education is a billion dollar industry at the forefront of the “move online” movement that we have experienced in fast-forward over the past two years. With more people comes more opportunity… And also, more competition.
The things that might have worked a few years ago, the “leeway” you may have had to do things “half-assed”… they’re both gone. And for those of us in or considering entering the online education industry you have two choices – adapt and up-level, or leave.
In today’s podcast episode, I will be sharing five BIG changes that I have noticed in the Online Business (and education) industry over the past little while. I have a unique viewpoint, with both five years of experience in my OWN business and access to hundreds of “online business back ends” through my students inside of our Launchpad program.
So, here it is, what I’ve noticed and what YOU can do to navigate the ever-changing tides of the online education industry with confidence.
Listen On: Apple Podcasts | Spotify
1. “Fast” Lead Generation is More Difficult
A few years ago, I was able to launch a webinar and have 2,000 registrants FAST. People were more likely to attend, and it was easier to get in FRONT of people.
These days, lead generation isn’t as “free and easy” – which means two things: One, you need to have a year round strategy for lead generation (which, by the way, is DIFFERENT to authority building), and two, you need to consider pulling OTHER levers to reach your revenue goals.
2. “Same Same” Offers Aren’t Converting
When I created my first online course, it was a “social media course for business owners”. These days, I’m not sure it would have converted as well as it did.
Why? Competition.
There are SO many more people in the market these days, and as a result, there are SO many more “same same” courses out there. One thing that we work heavily with our clients on inside of Launchpad is on DIFFERENTIATION.
When you are new to market, you can’t (yet) compete on being the best, and we don’t recommend competing on price. So, the game becomes setting yourself apart.
3. Authority Matters More Than Ever
More than ever, your thought leadership and authority matters. There are plenty of people online sharing content, so simply “ticking that box” is no longer enough.
You need to create THOUGHT LEADERSHIP content, with a unique perspective that sets you apart, and share it consistently. It’s one of the most important skills you can “learn”, and I would go so far as to say that if you aren’t willing to do this 2022/23 and beyond, you shouldn’t be in online education.
Your authority is your MOST important asset. This shouldn’t STOP you from starting, but you SHOULD be heavily focused on it right from the start.
4. You Can’t Rely (Just) on Social
I cannot tell you how many people I have needed to say this to recently. JUST relying on one-way broadcasts on social media is not the way to scale a digital course business.
You need to consistently generate leads, and nurture them. You need to grow your email list. You need thought leadership content on a core content channel. You can’t simply post on Instagram through a “proper” launch and expect it to sell like hotcakes – this works for your first “beta round” but it’s not a long-term business strategy. Those days are gone.
5. Pricing Matters
Digital products are thought of as having “no hard costs”, but with rising marketing costs and often delivery costs, it’s important to create an offer and price it in a way that allows you to compete in the marketplace.
The GOOD news: If you’re willing to shift and commit to excellence, there has never been a better time to be in the online education industry. Lazy and poor operators are slowly being pushed out, and it’s making for a better playing field for those who are serious, adaptable and who truly care about the client experience.
Online courses are one of the best business models out there – but they aren’t something you can slap onto your existing product suite and expect to passively tick away.
You’ve been sold that dream, but it’s not reality. The online business landscape is changing, and for those willing to do the work – that’s a wonderful thing.
Are you ready to create, launch and scale your flagship digital course? Head to thecoursecartel.com/launchpad to apply for our 12 month, high touch group coaching program.
Keep Listening!
Listen On: Apple Podcasts | Spotify
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