One of the most valued things in business is Information. Big businesses pay a lot for the right information at the right time. They rely upon experts to provide this information. They hire trainers, consultants, speakers, and data miners – all to be sure they have the right information when they need it.
But something happens when it involves an online business. Suddenly information becomes a commodity in the minds of most people. But just because there is a lot of information doesn’t mean that it’s all equally valuable.
For example, if you’re involved with Internet Marketing you’ve probably settled into a comfortable rut of “free” teleseminars and webinars. After all, they’re used to promote products, services, and events.
So it may be a jolt to find out that the rest of the world isn’t doing them free. In fact, they are charging handsomely for them!
Take for example, SoundView Executive Summaries – the company that sends out the executive summaries of books for those of us too busy to read the full book. I just looked at one of their teleseminars. Keep in mind it’s a 90-minute audio conference with a best-selling author. Their prices:
Audio Conference & CD Recording – $258.00
Audio Conference only – $199.00
CD Recording only – $199.00
Now if that doesn’t make you sit up and take notice I don’t know what will!
And consider – they are not going to open up the line for your individual questions – and I’ll bet they didn’t even offer an ASK campaign for your questions prior to the call.
And that’s not the only one! I get regular notices from The Competitive Advantage.net. Here are their prices for a 90-minute audio conference:
Audio Conference Only – $159
Audio Conference & CD Combo – $209 (plus $20 CD shipping)
CD Only – $159 (plus $20 shipping)
Yikes! Now count how many people were on your last teleseminar. How much money did you lose by offering it as a “complimentary” teleseminar?
Can you charge those prices? It depends on your market and your topic.
If you market to CEOs, conventional business managers and sales professionals, you generally can charge well for the information you provide. Not only do they have the money to pay for it, but they recognize the value of good content – and regularly invest in their professional development.
On the other hand, if you market to those seeking to start a home business or a second income, they may not be able or willing to pay those prices. Traditionally, these markets are very cost-conscious.
Then let’s consider the topic – your content. If your primary purpose in offering the teleseminar is to teach a topic, then you should charge for it. If you don’t put a value on your information, no one else will either. However, if your primary purpose of a teleseminar is to sell a product, service or event, then you generally don’t charge.
Could that change in the future? I think so. The quality of the information provided on preview teleseminars, for example, leading to a seminar is extremely valuable. Why not charge a small fee – to weed out those who have no intention of registering for the event? After all, either you need to sell a ticket to the event or you need to charge for the content.
The same should be true of a product or service. If you’re offering a valuable amount of information, at least charge $10-20 to indicate the value and to reimburse you for the expenses and time of a teleseminar. In 90 minutes you will easily reveal that amount of information – and probably more!
The trend starts here. If each of us who provides quality content in our (previously) complimentary teleseminars or webinars starts to charge a small fee, the trend will catch on.
So ask yourself: What is my information worth?