#532: Free Vs. Paid Bootcamps: Lessons Learned That Might Help You Decide What’s Best For You

No matter how they land in my world, I want them to walk away with valuable content that helps them achieve their business goals -- so the fact that so many people were joining and quickly losing interest (despite all that I was putting out there) simply wasn’t going to cut it.

I’d heard good things about paid bootcamps from some of my peers (and also some of my more advanced students!) so we decided to give them a whirl.

It was a totally new marketing strategy for us, so we went into it with an open mind and a willingness to learn.

I won’t lie to you – we had LOTS of learning lessons – which I’m about to share with you in this episode.

You’ll hear exactly what we did – along with what we got right, what we got wrong, and how the experience will inform what we do moving forward.

So if you’ve ever been curious about paid bootcamps, grab your pen and paper and get ready to take some notes!

Here’s a glance at this episode...

[02:57] We recently questioned whether our free bootcamps were working as well as they used to. This year we decided to host two paid bootcamps, and we learned six lessons.
[05:33] I'm not letting go of webinars. I tested a paid bootcamp into a webinar, and I'm glad I did. It all comes down to adding the right kind of value.
[06:27] 1. We knew we needed to shake things up. Our engagement was dropping. It was time to freshen things up and learn something new.
[10:06] 2. Recruiting the best bootcamp members. We want people who will gain the most from the experience by being fully engaged and ready to do the work.
[12:09] When people pay, they pay attention. SUSCRIBED was $37.00 and Course Confident was $47.00. There was also a $97 VIP option.
[13:44] 3. It's all about the projections you make. We didn't hit our goals. If you set a goal for something you've never done, and you don't hit that goal, it's not a failure.
[17:10] 4. We saw our engagement soar. People showed up and were far more invested than I've ever seen. Our overall average engagement was 65%.
[18:30] We gave people the exact action steps that they needed to do next. We offered accountability groups, and even had our DCA advisors share videos of how they put the lessons into action.
[20:41] 5. A great way to qualify people for the next step to get what they need. I extended the invitation to continue on with one of my programs for the people who were ready. Super low pressure.
[24:45] 6. Survey the bootcampers to find out what they really want. Ask people what they want their bonus training to be about (three options) and turn it into a masterclass.
[27:54] In 2021, free bootcamps converted around 5%. This year we converted at 25%. If you were in one of my bootcamps, thank you for putting your trust in me.
[29:43] Action items. Take inventory of what you're doing right now. 1. What's working? 2. What's not working? 3. Set a date to try something new. 4. Dive in and plan something brand new.

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