Over the last two or three years I have, on several occasions, heard Armand Morin speak about internet marketing. One thing that he always stresses is the importance of giving value for money. In fact, not just value but more than value.
Recently I attended his webcamp on residual income. At one point he was talking about membership sites and he said that if you're charging $97 a month for membership, then that membership should have a perceived worth (by the customer) of two to three times that amount.
And Armand practises what he preaches. For 18 hours of teaching, the price of the residual income webcamp was only $27. I have in the past paid far more to hear other internet 'gurus' - and have got far less from their teaching. As regular readers of this blog will know, I'm a great fan of Armand Morin!
But now I wonder if he's gone a step too far? He's just announced that future webcamps (three days of live streaming online) are going to be free! The only charge will be if you want to buy the recordings. There will, of course, be some people who will want to do this - those who don't like writing notes or those who can't attend the whole event. But, since the webcamps will be transmitted from North Carolina, they'll be available if not during daylight hours at least during waking hours to a large part of the English-speaking world. So I imagine a lot of people will be happy to watch the live event and forgo the recordings.
Which brings me to the question I started with - is this a step too far? Is it clever from the marketing point of view? Has Armand finally overstepped the line in his quest to give good value? Well, no, I don't think so. I think it's a win-win situation.
What Armand will get out of it is that a lot of people who have never attended his events before will sign up and thus make their way onto his mailing list. And at some time in the future they may buy one of his courses or a piece of software. And, of course, some people will buy the webcamp recordings. But I also suspect that there is another advantage as far as Armand is concerned. He loves teaching and it was mentioned at the last webcamp that he gets really excited by the numbers of people who come to listen to him and the feedback he gets from them. It's a reminder that, if we love what we do, we can get far more from it than just an income.
What the attendees will get out of it is 18 hours of intensive, practical training from an extremely engaging and entertaining speaker who (having made millions on the internet) teaches from his own experience and freely shares his knowledge. At the next webcamp (which runs from December 6th-9th) he's going to be speaking on the subject that everyone wants to know more about - how to drive traffic to your website. Even if it wasn't free to attend, this would be worth going to. You can find more details here.