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Topic: Customer Behavior
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This question has been answered, and points have been awarded.
Why Would Prospects Conveniently Ignore Key Info?
2/27/2019 at 3:35 PM ET
First, let bring some context to the following question, it's related to the following questions that I've posted in recent past,
Now, let me get to the strange customer behavior.
I wrote a valuable technology insight article and published at Medium, which is popular with lots of software developers and students studying computer science worldwide.
At the end of my article, I specifically mention that I have training materials that would help them to gain the skill and they are available for a fee.
But, a considerable numbers of prospects from some emerging market or developing countries keep on asking me to give such training materials for free. I usually respond by saying these materials are available for a fee ( matter- of-fact-ly). Other time, I also try to convey a message that such training materials is the results of my hard work, thus, I expect a fee. Neither does not seem to be very effective to this demographic. Thoughts?
2/27/2019 at 3:52 PM
Instead of defending the fee, give the students a compelling BENEFIT they can expect when they pay the fee (and apply themselves to learning what you teach).
Promise them a money-back guarantee if they (1) pay the fee, (2) successfully complete the course, (3) make a bona fide effort to market their services to provide whatever you teach them to clients/companies, and (4) don't earn at least x times what they pay you within the first y months.
You can also invite those who pass a proficiency exam to be listed in your "referral directory" available to companies who need the skills you've taught.
2/27/2019 at 4:29 PM
Good thoughts, Michael, thanks.
2/27/2019 at 6:54 PM
Ask them why they believe you should provide the training for free. They might not want to pay for your training, but their school/organization/employer may be willing, if you can show there's an interest.
2/27/2019 at 7:44 PM
Excellent point, I actually tried it before, some of them say their employer to work with "large" (implied better quality) blockchain training company but their employer had no clue, I've reviewed these "established" blockchain training's course offerings and have analyzed their course outline, some of key their methods has been proven having fundamental architectural flaw, thus, will not be supported in the future, and they are teaching student this kind of stuff ! But such flawed method came out first, thus, it has some following... So, the challenge is these decision-makers are looking at things at superficial level.
I need to figure out a way to present it more diplomatically...
3/1/2019 at 1:21 AM
"I need to figure out a way to present it more diplomatically..."
Maybe not. Perhaps you need to provide a confronting statement that sells the benefit of your materials, such as:
"75% of blockchain training materials contain these seven key flaws..."
"Don't waste your money buying blockchain training that teaches outdated, flawed and contains just plain WRONG techniques and information. My course materials are guaranteed 100% up-to-date and CORRECT"
If I have understood it correctly, the value you bring is quality, up-to-date skills and techniques while your competitors are back in the horse and cart days. (Some artistic licence involved!)
Milk your value for all it's worth!
3/1/2019 at 4:31 PM
You and I seem to suffer from the same problem. I offer an advanced maths service to provide accurate sales forecasting, minimum cost inventory, and warehousing solutions and profit optimization and cost minimization services using LP, OR and Simplex Algorithmic techniques. Outside the FTSE or Wall Street, which all use these techniques no one has a clue what I am talking about and do not want to even invest in a half a day free consultancy which could save them or make them up to £500,000 in additional profits or lower costs. There is a reluctance to dip their toes in the water. At least you are getting toes in the water.
With emergent markets, you need to take an initial hit in the hope of getting referrals from user experience and a lot of smaller fees. They simply cannot afford US or UK fees, so change your pricing according to the market where the inquiry comes from.
Offer the start of the training for free for those markets. Then offer the following lessons at a much-reduced rate. I know of management consultancies which charge £8,000 / day in the UK, but offer their services online for £400/day or less to Africa and a little more for India and East Asia, but they get their toe-hold and work from there. If you can network in, say, India, you can get say 100 clients at $20/ month rather than one at $2000 a month. You fill in your own figures.
For the western world, as Mike Goodman says. Let them have a sample, explain the benefits and then go to close the sale.
If users of your course can get their blockchains working, you will see revenues flowing and spreading if you ask for referrals.
You will also be contributing to global warming by adding the energy consumption of Lithuania to the power consumption of the blockchain data centers!!!
3/1/2019 at 5:19 PM
On your advanced maths and algorithm service, maybe down the road, I know a person who may need your service, no guarantee but your name and talent in that domain has registered with me.
On using different fee structure, yes, I'm already using a differentiated pricing structure, for emerging markets and developing countries, I charge them much less. One thing kind of bothers me is that, quite a lot of software developers or college students from a certain Asian developing country do not seem to keep their words, when they asked me price to a level that they can afford and I did but the party did not follow up to make a purchase. I'm not sure if it's cultural thing or what... Yeah, referral is an idea I'm considering.
One thing though, blockchain technology is very complex, not every software developer is able to pick it up quickly even with Clear Explanations and Instructions, and that's why I cannot offer guarantee of learning.
Regarding blockchain and excessive energy consumption, that's Bitcoin, I'm teaching them a leading blockchain platform for enterprises/businesses and governments and entrepreneurs, that does not require "mining", hence, it does not have the Bitcoin energy consumption problem.
3/1/2019 at 5:34 PM
Re: Energy consumption; You are now my hero!! I love the blockchain as a means of protecting copyright, intellectual value and value, but hate the mining model. I love the African low tech service which has low security, but no one will hack it for a $5 a week transaction by an Ethiopian farmer! It works and it works from a simple cheap cell phone. Bush-Banking in the flesh. It is M-Pesa.
Good luck with your project. Could you send me the links to your site, please? Or are there links on your profile?
3/1/2019 at 5:44 PM
Re culture: Remember that in many Asian countries, saving face is very important so you have to dance around an issue to l;ean what will float. The reward is a lot of customers through using their country based social networks to promote your services. If they are online then the scale is not a problem. If you offer one to one or even one to ten session, you will run into problems. What are your sales models and your service back up? What are your resource limits? Blast, I am talking like an OR professional rather than a Marketing Professional!!
You have hit a really valid point though. From what I said at the begnning of this latest post - Face. Yes, sir, I will definitely order your course at that price probably means "No Fxxxng way can I afford that mate so Pxxss off"
You have to work very hard initially to understand that yes, often mean sod off.
3/1/2019 at 6:49 PM
Thank you for your kind words and your thoughts.
Here's my Linked profile link, I wrote several articles on blockchain technology, they seem to enjoy good readership and I include links to these articles in my profile.
Regarding the blockchain training materials that I'm selling to software developers and college students worldwide who are studying blockchain technology, I wrote and published a piece on the most popular blockchain platform, called Hyperledger Fabric (essentially developed by IBM),
"Build a Blockchain PoC Application using Hyperledger Fabric",
It seems well received, thus, interest in buying my training materials.
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