How to Price Your Fashion Course or Coaching Program

Ever wondered what makes an online fashion course a game-changer for some but not quite the right fit for others? Or what makes a coaching programme fly off the shelf with ease?

That's the magic of a value proposition!

In this post, we're diving into the world of value propositions and pricing for those of you looking for help on how to price your offers.

We will be exploring how the same offering can be seen as a fantastic opportunity by one person and not quite as appealing to another.

Let's unravel the nuances and see how these propositions play out.

Understanding Your Value Proposition

Before delving into pricing strategies, it's crucial to assess the value your course or coaching program offers. What unique knowledge, skills, or transformation are you promising it will provide to learners or coachees?

Understanding this sets the foundation for effective pricing. 

A value proposition is the unique promise of value that a product, service, or offering provides to its customers. It's a concise statement that communicates the specific benefits and outcomes a customer can expect by choosing that product or service over alternatives available in the market.

In the context of an online fashion course/coaching program, a value proposition outlines what sets your offer apart and why it's beneficial to potential students.

It encompasses:

1. Unique Benefits: What makes your course different or better compared to others? This could be the expertise of the instructor, the specific skills taught, or the exclusive resources provided.

2. Addressing Needs or Pain Points: How does your course solve a problem or fulfil a need for your audience? For instance, it could address the lack of specialized knowledge in sustainable fashion or provide hands-on experience in fashion design software.

3. Clear Outcome or Value: What will students gain or achieve after completing the course? This could include practical skills, industry insights, networking opportunities, or a portfolio of work.

4. Relevance and Appeal: How does your course resonate with your target audience? Highlight the aspects that directly align with their goals, aspirations, or interests within the fashion industry.

Crafting a compelling value proposition involves understanding your audience, recognizing their needs, and articulating how your course uniquely fulfills those needs or aspirations, making it an irresistible choice among other available options.

Value is a very subjective thing.

What to one person seems like great value to another is not.

The proposition can be the same but seen differently by different audiences.

Let's consider two individuals presented with the same value proposition for an online fashion course focusing on sustainable fashion design.

Person A:

• Background: Person A is a budding fashion designer passionate about sustainable practices. They've been actively seeking courses that delve deeply into eco-friendly design principles and techniques beyond what they covered in university.
• Perception of Value: When presented with the course, Person A perceives it as a fantastic value proposition. They notice the comprehensive curriculum covering various sustainable materials, case studies of successful eco-friendly brands, and practical sessions on upcycling techniques—all directly aligning with their aspirations and filling their knowledge gaps.
• Why It's Valuable to Them: Person A sees this course as an invaluable opportunity to gain specialized knowledge and practical skills in sustainable fashion—a field they're deeply passionate about. They believe this course will significantly enhance their expertise and align with their career goals.

Person B:

• Background: Person B is a fashion enthusiast intrigued by sustainability but lacks a deep understanding of its nuances in the fashion industry. They have a general interest in fashion and are exploring different courses.
• Perception of Value: However, when presented with the same course, Person B doesn't see it as fantastic value. They find the course content too specialized and detailed, feeling overwhelmed by the technical jargon and the depth of sustainable practices discussed.
• Why it's Not as Valuable to Them: Person B perceives the course as too advanced for their current level of understanding. They seek a broader introduction to sustainable fashion rather than an in-depth, technical exploration. They don't perceive the immediate relevance of the course content to their fashion interests.

In this scenario, the same value proposition — centered around a "sustainable fashion" course — elicits different perceptions of value based on the individuals' prior knowledge, interests, and depth of engagement with the subject matter.

While Person A views it as a perfect fit for their career aspirations, Person B sees it as less valuable due to its perceived complexity and specificity.

Steps to Develop Your Value Proposition

Here are the basic steps to go through to help you assess the value to your students or coachees.

1. Define Clear Learning Outcomes: Explicitly state what students will achieve after completing your course—whether it's mastering a specific skill, gaining industry insights, or solving a particular problem.
2. Solicit Feedback: Engage with your existing audience or potential students through direct conversations, surveys, or social media polls. Ask what they expect from your course and what they perceive as valuable.
3. Offer Demonstrations or Previews: Provide a preview or sample module of your course content. This allows students to experience the quality and relevance of your teachings firsthand.
4. Highlight Unique Selling Points: Clearly communicate the unique aspects of your course—whether it's your expertise, industry connections, practical applications, or exclusive resources.
5. Showcase Success Stories: Share testimonials, case studies, or success stories from previous students who have benefited from your course. Real-life examples validate the value you provide.
6. Compare Competitor Offerings: Analyze similar courses in the market. Identify what sets your course apart and emphasize those distinctive features to showcase its value proposition.
7. Continuous Improvement: Commit to ongoing improvements based on feedback and industry developments. Demonstrating a commitment to evolving and staying relevant adds value.
8. Money-Back Guarantee or Satisfaction Assurance: Instill confidence by offering a satisfaction guarantee or a refund policy. This shows your belief in the value of your course.

To help you develop your value proposition we have created a Value Proposition Worksheet for you.

It will help you to quickly and systematically analyze and articulate the unique value your fashion course, coaching program, or product offers to your target audience. Click here to download it.

Different Approaches to Pricing

Crafting the perfect price for your online fashion course or coaching program is a dynamic process that requires a blend of analysis, market understanding, and adaptability.

Effective pricing is a blend of understanding the value you provide which we discussed above, knowing your audience, and strategically positioning your course in the market.

Experimenting with different pricing models and observing their impact on sales is key to finding the optimal pricing strategy for your online fashion course or coaching program.

Remember, the goal isn't just to sell but to ensure your pricing reflects the value you deliver, creating a win-win for both you and your learners.

You must deliver on the promise you make in your sales pages or discovery calls that you have with students.

By following the steps below and being open to adjustments based on student feedback and market trends, you'll be better positioned to find the optimal price that maximises your sales while delivering value to your learners or coachees.

1. Fixed Price Model: This is the simplest approach where the course is offered at a fixed price point. For instance, setting a course price at $99 or $199.

2. Tiered Pricing: Offering different packages or tiers with varied features and price points. For example, a basic package at $49, a standard package at $99, and a premium package at $199, each with increasing benefits.

3. Subscription Model: Providing access to the course content through a subscription-based model, like charging $29 per month for unlimited access to materials and updates.

4. Freemium or Free Trial: Offering a portion of the course for free or at a minimal cost, enticing learners to upgrade to a full-priced version for complete access.

5. Bundle Pricing: Packaging multiple courses or resources together at a discounted rate. For instance, offering two courses for $149 instead of $99 each when bought separately.

Influencing Total Sales Through Pricing:

• Perceived Value: Higher prices might imply higher value to some learners. A premium pricing strategy can attract those looking for comprehensive and exclusive content.

• Psychological Pricing: Utilizing pricing techniques like $99 instead of $100 can create a psychological advantage, making the cost seem more affordable.

• Discounts and Limited Offers: Offering temporary discounts or early bird pricing can drive urgency and prompt quicker purchase decisions.

• Testing and Iteration: Experimenting with different pricing strategies through A/B testing helps gauge what resonates best with your audience.

Real-World Examples:

• Coursera: Offers individual courses priced between $29 to $99, along with subscription-based models for access to multiple courses.

• MasterClass: Adopts a subscription model, charging an annual fee to access all their classes and materials.

• Udemy: Uses tiered pricing, allowing instructors to set prices, which can range from $19 to $199, depending on the course.

In our case, we offer mini-courses and Masterclasses both offering different price points because of the value they offer.