Pricing your webinars, e-learning and virtual training programs

How to determine webinar pricing

Here are some points to consider when determining your webinar pricing:

1. Your price is per connection, not per person. Expect that multiple people are viewing the session.
2. If you set the price too low, people won’t think there is value in the session.
3. If you include a copy of the recording with the registration, you can justify a higher price.
4. You can offer a discount to those registering or in groups.
5. Will you be giving away anything of value with the registration (i.e., white paper, consulting time,
6. etc.)? That justifies a higher price point.
7. Will credits (i.e., CEUs) be provided? That also justifies a higher price point.

Two key considerations when pricing webinars, webcasts, videocasts and virtual training

1. The price you set says a lot about the value of the information you have to offer with your webinars and audio conferences.
2. Participants understand the value of convenience with webinars and audio conferences.

The price you set says everything about the value of the information you have to offer with your webinars and audio events

The best advice we can offer regarding pricing is to price your webinar at a level commensurate with the value of the information you're providing. If you've chosen the right topic and recruited the best possible speakers, price your virtual event accordingly.

On the other hand, if 90 minutes of information and interaction with your content experts is worth only $50 to your members, price it accordingly. It could pay (literally) to consider a different topic/speaker in the future.

Here's something else to consider. "Free-to-attend" events typically have high no-show rates - usually at least 35 percent, compared to less than 5 percent for "pay-to-attend" events. Early disconnect rates are also usually much higher than with "pay-to-attend" events. Keep in mind that many consumers have already been exposed to free "webinars" and often associate these free events with a sales pitch. It can be difficult to overcome their "Are you trying to sell me something?" skepticism.

Participants understand the value of convenience with webinars and audio conferences

A KRM client once said, "Perhaps the biggest mistake that sponsors make is under-pricing the tuition for virtual seminars. Too often, sponsors remain locked in a traditional pricing model and price by the credit rather than the convenience and timeliness of the information being presented. It is far easier for a sponsor to anchor tuition at the high end and move back than to start at the low end and have to ratchet upwards. Remember, solid content combined with the convenience factor can overcome almost any prejudice."

Most organizations charge for the webinar connection, not the number of listeners. Registrants appreciate the fact that webinars and online events allow multiple listeners to participate from the same office for one price. Participants will pay a higher tuition fee than usual and still appreciate the cost savings to them. Virtual events allow them to avoid downtime, travel cost and frustration, etc.

Another benefit of webinars and audio conferences is that the people listening together at any given registered site all hear the same message at the same time, avoiding the pitfall that can happen when one person returns from an event and tries to re-teach the information and create buy in from his or her colleagues. Many of our clients ask their speakers to leave the audience with discussion questions to consider, encouraging the group to remain together to discuss the implications and applications of what they've just learned.