4 Reasons Challenges Are More Profitable Than Courses
Challenges are becoming more and more popular as 2023 gets rolling, and for good reason too… They’re quickly becoming more profitable long term than just courses and consulting alone.
So with that in mind, here are 4 reasons challenges will outperform courses when it comes to long term profitability:
1. Higher Completion Rates
Challenges are a great way to increase completion rates if you already sell courses. In fact, challenges have built in gamification which ultimately leads to your customers wanting to come back each day to complete the required steps needed to move forward towards their end goal. Without this gamification, your course or challenge will end up feeling like a chore to your customer and sadly, your completion rates will drop because of that.
2. Lower Customer Acquisition Costs
Challenges are great low ticket front end products to acquire new long term customers. When using challenges as your front end product, you’ll see huge growth in new customers, new emails for your email list, and customer acquisition costs will go way down compared to selling other front end products.
3. Increased Trust
Challenges allow you to quickly move your customer from point A to point B with point B being their end goal (weight loss, more energy, sobriety, etc). And because challenges are designed to be shorter in length than most courses, your customers will reach their desired goal much faster building up your trust, likability, and authority.
4. More Repeat Buyers
When using the challenge model, you’ll quite literally create your dream customers. Your challenge acts almost as a “trial” run with you and your services. If you can fulfill your promise to your customer using your challenge, they’ll be much more likely to buy from you again in the future.
So there you have it. These are 4 reasons challenges are more profitable than courses in 2022. I hope you see and understand why challenges are one of the greatest business building assets you can have in terms of long term profitability.
If you want to learn more about running challenges and the #1 platform to use when you do…