The strategy that Udemy has used over the years has resulted in buyers who expect a course to cost around US $10 to $12. Persons with intention to purchase a course will wait for one of Udemy's frequent flash sales to make a purchase. So it has ended up being a "volume" game from an instructor's point of view. Make lots of sales at low prices. This can be challenging at times.
Recently, I was invited to host some of my Udemy courses on another online course site. It was created by another Udemy instructor to host his courses. He had 5 of them in total and each at $10, to match the now established purchase price expectations. When you publish on Udemy, you still own the content, so you can publish on another site if you wish. So I placed 12 (of my 23) courses on his site, while still having them on Udemy.
The result of what we did next surprised me. To increase sales, we created several "Course Bundles" which were priced from US $15 all the way up to US $125. This meant that we were able to sell higher priced products, which tends to be a good thing to do. Once we sent the word out, the response was better that what we expected. We sold quite a few bundles, and most of them being the higher priced ones, and we sold it to an audience that was accustomed to $10 courses.
I think this is the potential of digital products. All we did was to re-purpose the content by packaging it in a different way. This resulted in a win-win situation.
The packaging of the content in this way seemed to have increased perceived value and resulted in higher $ sales. As we get more and more feedback on these bundles, we will modify and probably create more of them to suit the needs of the audience.
Creating more value-added content is essential to increasing income. But packaging it in the right way, with minimal effort, can lead to significant gains as well.
That sounds fantastic. Good advice even for repurposing other forms of content and using it in other ways.