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Genecia Alluora: I believe we can change the world, but that first, we've got to stop living in fear of being judged for who we are. Hi, I'm Genecia Alluora, founder of the number one leading female entrepreneur network in Southeast Asia, supporting 1 million women to own and love the F word. Being fabulous, having freedom, financial independence and family. With a challenge to women everywhere to stop talking themselves out of their dreams. So why? Secrets of the Soul Rich Woman Blueprint identifies the excuses to let go of, the behaviors to adopt, and the skills to acquire on the path to growth, confidence, and believing in yourself to be recognized as a leader online, get clients online, and to have more impact on the world.

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Genecia Alluora: Stop believing the lies about who you are so you can become who you were meant to be. You are just an F word away from the life you want, the marriage you want, the family that you want is going to be fueled by the business and life you build. Join me, be a Soul Rich Woman. Alone we are strong. Together, we are unstoppable. Welcome to the show.

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Genecia Alluora: Hello gorgeous and welcome to Soul. Why the secrets of the Soul rich woman Blueprint. As promised, I want to talk about recurring income versus onetime income. Now, this is happening in the context of doing your own online course. Okay? So in this online course context and episode, I want to share with you how I grew doing big ticket, big ass online course to making it a little bit smaller but have a lot more people coming in to a model where I do online courses, but it's repeatable on a regular basis. So it's big, medium, small, medium, large. Okay, small, medium, large will be a better way to put it. Okay, so coming back so I used to do like $2,000 USD programs where there was like even up to today, I still have it. And this USD 2000 over dollar programs to $5,000 over programs. All these things s are big ticket and the way we decide how to structure your pricing, how online courses pricing structured is based on the value you give within your content.

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Genecia Alluora: I've seen people doing, for example, Microsoft Excel and they only sell it at $99. Do you think somebody will purchase a $99 Microsoft Excel course? Well, the answer is yes and this person did over $200,000. Well, you go divide it out 200,000 divided by 99. So how many people sign up? So different people use different strategy, right? But my logic here is big ticket item versus medium versus small and recurring. How does it work at different points? How does it really work at different levels? So the first thing that is working at different points and different level is to decide what kind of value you are giving in the program. So in my big ticket program, I have way more things in the program. I have got experts coming on. They are live streaming involving there is also like office hours. Office hours is like you can ask questions live. So there's a lot of still time involved in this online course.

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Genecia Alluora: So it's like a hybrid online course plus live streaming, plus some coaching sessions and then you have maybe a support where you get things done, maybe even some done for you within some done for you elements within that package. So that's why you deserve to sell at a higher value and that's why people are willing to pay. For the medium ones, I don't really put in my time or any other people's time. So, for example, I got a course that is selling at $597. And this program basically just teaches as it is. So it's twelve modules and you just learn it all in the membership area. Nothing, regardless of my time, nothing touching my time. And that part allow helped me to duplicate myself. And when you do this part, you must really state your value clearly and to add on what kind of bonuses can you throw in to make it more irresistible than other people.

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Genecia Alluora: So, like I said, it's all about value. The bonuses you throw in and the way you structure the program so that you can sell at a medium ticket. Now, the small one is very interesting. This one is where I walk the ground. I traveled seven countries, the Philippines, Malaysia, Myanmar, Cambodia, Thailand. Basically Southeast Asia. And I realized that there is a need in the market, a gap in the market that women don't make as much. Most of the people who buy the medium and the large size programs are are usually from the US, Europe and probably other parts of the world whom they can afford such a program. And also they are at different stages of entrepreneurship. So I saw a gap where women are not earning as much 300 USD, 200 USD. And when I see this gap, I realize that free is not the way to help them to be successful.

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Genecia Alluora: It's still to get them to commit to an amount that is relatively reasonable for them to allow them to learn in a structured manner, step by step. So the way I structured my membership or the online courses that I have put into the membership program is that I release two master classes every single month and. It plus office hours and some other things I throw in at random to kind of put in more value and of course clearly stating what is up front and of course giving them surprises within that membership area in the online courses that I'm giving them. And that to me has transformed my life and the way I see things. Yes, we need big ticket items to be sustainable, to do different areas of our work. But small ticket online courses allowed us to see and serve a need that is in demand in the market where free no longer help them. Because women don't need more information.

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Genecia Alluora: Women need a structured way of learning to put their thoughts together, to be guided step by step. So I've put it into that way so that the women can learn. So this journey of putting the small, medium and large courses and have done all these different permutations has taught me that to love your customers more than you love your product. Too many times I see many people doing online courses serving their own needs. Their own desires. You need to be serving your customers. You need to be looking what they are looking for. Are you solving a problem? How are you value adding? Are you giving them what they want? Are you helping them to learn to get the results that they want? Of course, in online courses there's a fine line. Sometimes people don't take action. There's nothing that we can do about it. But at least for those who take action, are they able to get some results or get fair results based on the amount of effort that they put in into purchasing these online courses?

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Genecia Alluora: The online course market is huge. There are people selling $7, $17. I've been there from $7 to 2000 of a dollars, 2000 over dollars. It is a wide range and depending on the value that you give, you would serve at different price points. Then the last part will be how do you decide what price point you're at? So I will say, looking in the pyramid, if you put a base where it's at the largest, you want to funnel in fishes, you get $12 a month, like what we are doing at the base where the largest pool of people are at, you funnel them upwards into a greater value package program $500 to maybe 1000 plus. And then you funnel upwards to the top of the pyramid where you are allowed to charge a premium for your pricing, for your courses that you are selling in the online world.

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Genecia Alluora: So in this pyramid you can see doing a slightly lower smaller value online course do help you to become have more ability to have more ability to bring in more fishes to bring in more customers to get to know you so that you can build up the small agreements while you clear the objections to bring up to the middle of the pyramid and going through you a different way of learning or a different package and then moving them upwards to the smallest part of the pyramid, which means less customers because you're funneling in through a very big base. Right? So 2000 to maybe 500, from 500 to 100 people will sign up. So that's how it flows and that's how you can price look into pricing your online courses.

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Genecia Alluora: And of course marketing it to bring in the people to purchase them. Okay? So at least, I hope in this episode I've given you some insights on pricing, what is the possibilities and of course, it really depends on you what is the objective and what's your goal to serve people. Free is not the way to go anymore. You can give them teaser programs, but to the next level they must be willing to invest in themselves. Only then, when they are willing to invest in themselves, it becomes valuable for them to take action after learning from you in your online course. So I hope this gets you going and gets you thinking, okay? And I look forward to seeing you in the next episode. Bye for now.

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Genecia Alluora: Thank you for joining me today. I would love you to connect with me on Linkedin, Facebook, or Instagram and share with me your thoughts on today's episode at Genecia Alluora. Alternatively, you can send me an email at hello@soulrichwoman.com. I have a free gift for you on our website. Secrets of personal branding and also how do you delegate 80% of your to do list to your assistant so you can make money online and focusing on your zone of genius? And that is available at soulrichwoman.com. Join the number one leading female entrepreneur network in Southeast Asia, connecting more than 200,000 women across the region. Be a Soul Rich Woman. Dream to shine. Woman leader, leader activated. Alone, you are strong. Together, we are unstoppable.