- Background
A UK/US-based training organisation wanted to make its programs available online and move away from in-person events.
- The company had historically offered in-person training packages priced between $1500 (approx. £1250) and $5000 (£3500) in the US and the UK.
Increased costs had dramatically reduced gross margins.
- There was a growing trend for clients wanting to “learn on demand”.
- The company employed six full-time trainers, which was costly.
- Arranging over 100 events annually was a logistical nightmare.
Problem.- Solution.
After consultation, the company agreed to implement the following recommendations:
- Build out their flagship high-ticket program into a members’ area of a new website.
- Repurpose the content into an eight-week online training program supported by live weekly Q&A sessions.
- Make new course elements live every Monday with Q&A sessions every Thursday.
- Offer the new online training package at a reduced rate as a beta test: for instance, offer the $3000 (approx. £2500) program for $2000 (approx. £1600).
- Offer free access to a client-only alumni Facebook group.
- Survey clients at the end of the program for feedback.
Within 60 days of implementing the new system, the client reported the following:
- More sales – an increase of over 30 per cent in sales for the course.
- Massive potential cost reductions – although still currently employing all six trainers, they are looking at downsizing by 50 per cent and saving around $150,000 in salaries and a further $100,000 in travel and accommodation costs.
Other major benefits of the solution include:
- Huge expansion opportunities: Previously the training was only offered in six main cities in the US and four in the UK. Initial paid ad tests indicate that there is potential to spread this nationally to a much wider audience without any geographic constraints.
- Great feedback: The first beta program has just finished and the feedback has been extremely positive – no negativity about the programs being online rather than in-person events.
- Summary and Next Steps.
The company will add other training programs to the new online format and expand the targeting of ad campaigns to a wider geographic audience: a potential 10-times wider reach.
- We will also build out a sales pipeline for the sales team, as they now want to add the ability to call clients as part of the process to further improve conversions.
