Udemy Promotions are yours working for you?
Udemy Promotions are one of your key tools in making sales. As we know sales = $$$ so you should be paying a lot of attention to what is working and what is not working. Having been on Udemy since June 2013 – thats 19 Months to the end of December 2014 I realised that I had masses of data. What if I analysed that data to see what is working for me with my Udemy Promotions?
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Why do you want to analyse your Udemy Promotions?
Lets go back to basics – promotions have three core components, if we ignore the product being sold:
- Place – where are you going to be making your promotion – inside or outside of Udemy?
- Price – what price will you offer your course (with a discount coupon)
- Promotion – how will you present your promotion to your audience – the style and content of the “advertisement” you create to entice a sale
This analysis is primarily focused on the numbers and will not take into account the promotion part of the equation. Nevertheless, as Udemy provides us with such great data to analyse our Udemy promotions it seems churlish not to dive into the data to see what insights are available.
Udemy Promotions are Scarce
The current Udemy rules only permit you to make two promotional announcements per paid course a month. To me that seems somewhat ungenerous but I do understand that students do not want to be bombarded by promotional messages everyday.
Furthermore you are not allowed to make promotional announcements to students in free courses at all.
You can make four non-promotional announcements per course per month and it is worth doing this to keep a healthy dialogue with your students.
What are we looking for?
I particularly want to know which of my Udemy promotions have been most successful.
You need to bear in mind that when you promote a coupon code, this might be picked up and promoted by an affiliate.
If you have a direct sale of your Udemy promotional coupon code, you will earn 97% of the proceeds. This is one of the key reasons why Udemy promotions are so valuable to you. However, if it is sold by an affiliate, you only receive 25% of the proceeds. It is therefore very important to understand what is happening to your sales when you launch your Udemy promotions.
What do I need to Do?
In order to analyse the success or otherwise of your Udemy promotions, you first need to collate your data so that you can analyse it. Thanks to Udemy, this is not a difficult task. In every monthly revenue report, you can download a CSV file of that data. Udemy will email it to you and then all you have to do is save the attached CSV file to your computer.
The next step is a little laborious but again not difficult to do. Open each CSV file in turn and create a copy and add that copy to a master spreadsheet. This will leave you with each months data in a separate tab in your new master spreadsheet. Inside this spreadsheet you now have all the data you need to analyse your Udemy promotions.
What are you looking for?
Each persons sales data will be unique so let me give you some suggestions for some significant data points
- What % of free coupons do you give out and how does this help your sales?
- How many sales have you had from organic Udemy promotions?
- How many sales have you had from affiliates?
- How have your Coupon Code sales been performing?
- Are you regularly creating and promoting your own coupon codes?
- Which Coupon Code prices have performed best for you?
What are my conclusions about Udemy Promotions?
I think participating in the Udemy promotions programme is definitely worthwhile.
Having an active “Free Coupon” strategy to grow your audience is an essential component of being successful on Udemy
Coupon pricing has some flexibility but I am no longer confident that prices over $49 sell well on Udemy
Coupons at $29 and $19 do well but you can maximise income at $29 but sell more courses at $19. This is also true of sales below $19 but then your share of the income decreases
Expect at least 50% of your Udemy promotions with your coupons to include Affiliate sale i.e. you will receive only 25% of the coupon amount and not 97%
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