To put it simply, Udemy.com is a site where you can pay for online lectures that teach you something. Using Udemy, I have signed up for various courses that teach you how to code, how to make websites, how to sell on eBay, etc.
I plan to quit my job in 2020 and live off whatever dividends I get from my investments, but I don’t want to spend my post-2020 years doing nothing. I want to be able to do what I love, and the thought of working online while travelling, supplementing my dividend income with income from online businesses–that appeals to me greatly! To help make my dreams a reality, I’ve been researching online. I’ve been researching various ways of making money online, from simple things like doing surveys online to dropshipping. I am a newbie in this area, so I am happy to try out different things and report my outcome on this blog. This blog will be a useful reference for those looking to see what online businesses work for an average person.
On the topic of learning how to make an online income, I have found that Udemy is filled with courses that may be helpful. However, one of the major problems with Udemy is that different people offer different discounts. I found a course by David Dang Vu that teaches you how to dropship on eBay. The price was US$35, which is discounted from US$50. I remembered reading an article on David Dang Vu from JohnnyFD.com, so I decided to do some googling, find the original article, and read up about it.
Johnny’s website provided a discount code for the eBay dropshipping course, so I decided to use that, but to my surprise, the price went up! The problem was that Johnny’s discount only reduced the course code from $50 to $40 whereas originally I had somehow stumbled onto some discount that allowed me to get this course for $35.
Not wanting to pay too much for the course, I decided not to buy it at all.
A few days later, I was thinking about eBay dropshipping, and so decided to google it, and this led me to a website that provided discounts. This website forwarded me back to Udemy and just like that the price of David’s eBay dropshipping course was back at $35.
I decided to buy the course in case the price the price went up again.
I understand the psychology behind discounting and why it works on customers. When there is a discount on a product, customers tend to act quickly to buy the product. There is a sense of urgency. The customer has no time to evaluate if he needs the product or not. Hence if you have an apple you wanted to sell for $2, it may be better to sell it for $5 and then offer a 50% discount to bring it down to $2.50 every now and then. I remember hearing that studies show that customers are more willing to buy more expensive items that are discounted compared to the same items that are priced cheaply but have no discounting.
That being said, the random prices and myriad discount codes at Udemy really turn me off. I understand that recently Udemy forced all products to be prices between $20 to $50 so that there are fewer instances of people paying $300 for a course that is normally discounted to $10.
What may be bold is just getting rid of discounts completely as this will help customers feel more comfortable, but for the reasons above that may result in fewer sales.