The myth that people pay more for more information (and what gets them to pay a 30% premium instead)
Scientific proof provided
People don't pay more for more information. Are you sure?
Let's first consider why we might think people will pay more for more information.
People do pay more for more "stuff."
You go to the movies and pay more for a bigger bucket of popcorn and a bigger soft drink.
You pay more at the gas pump the more gas you ... pump.
You pay more, and you get more pounds of apples at the grocery store.
In the world of "stuff," the more you buy, the more you pay.
But does the same logic hold in the world of information?
Let's say I need to fix a leaky faucet, and I can get two pamphlets with the solution (I know we go to YouTube for that now, but humor me).
One is 72 pages, and the other is just 10 pages. Which do I choose if they both solve the problem? I choose the shorter one, of course.
And that's what we all do. We choose the low information route first.
We all want the minimum information to solve our problem. We don't want to wade through endless text or video.
We want the answer now.
So, what makes people willing to pay more?
How much they desire the outcome you're selling.
They don't care about the quantity of information. They care about the outcome they can get. If that outcome is very important, that makes your course very important and very valuable. If the outcome is not very important to them, good luck getting them to buy.
And what outcomes drive people most - the issues that keep them up at night, the frustrating ones, the scary ones - in short, their problems.
How do we know this is true?
In one study, researchers put people into two groups.
One had to hold their hands in very cold water and then make purchasing decisions.
The other made purchases under normal conditions—no cold hands.
What did they find?
Those with cold hands were willing to pay 30-50% more than the warm hands group for things that would give them relief, such as hand-warming gloves and heating pads.
You might question whether the true value of a warming glove or heating pad should go up just because you feel cold now, but the perceived value does go up.
And that's just one of many studies showing people are willing to pay more to escape discomfort.
But what does this mean if you're thinking about building a course?
You'll have an easier time selling your course if it solves a problem than if it promises a pure benefit.
Even if you sell something positive like fitness, you might also point out the pitfalls your course helps them avoid, such as injuries, burnout, or loss of motivation.
Don't focus solely on benefits.
Bring up problems so your customers can feel the need to solve them.
Are you still looking for a course idea that can win in the marketplace (and avoid building a dud)?
Read my article on how to create Winning Course Ideas.
Are you ready to build your first or next tiny course (without spending months to put it together)?
Check out the Atomic Course Blueprint.