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The Ultimate Guide to Increasing the Value of Your Educational Product

If you sell a product, you might have experienced something like this:

  • You see a need or problem your audience is experiencing
  • You create a small product to help your audience solve that problem
  • You launch!
  • And… you get mixed feedback.

People saying they don’t think it’s worth what they’re paying. People saying they expected more for the price. People asking for a refund.

This is actually a very good thing! Let me explain.

Too often, I say, we as product creators think of the experience of someone buying and using one of our products as a binary experience.

Someone buys our product and they either say it’s great (which means your product is great) or they ask for a refund (which means your product is bad).

Bad Product > — — — — — Your Product — — — — — < Great Product

If you receive negative feedback, that means your product sucks, and you should feel bad. Right?

Not quite.

We need to break out of this binary mode of thought and instead realize that products exist on a spectrum of quality — and that negative feedback, people asking for refunds, people pointing out how your product could be better, or people emailing you about ‘annoyances’ that prevented them from enjoying your product are actually wonderful opportunities.

How?

Because these are people who are giving you direct, specific, actionable feedback on how to improve the quality of your product.

But first, let’s talk about the spectrum of quality.

You see, the quality of your product isn’t a binary Great/Bad relationship. It’s a spectrum that ranges from ‘Bad’ to ‘Satisfactory’ to ‘Great.’

Bad Product > — — — Okay Product — — — — — — — — — — < Great Product

There’s a small range, say the bottom 10% of the ‘quality spectrum,’ where your product is bad. In these cases, your product does not meet the value that you promised to deliver in your marketing.

Above that, in the meaty ~70% center of this graph, is where okay products live. These are ‘okay’-level products.

Your customer bought your product.

They read it.

They felt the value was equal to the price.

This is where most products live. You did a satisfactory job. Some people may ask for a refund — but some people always ask for a refund — and the people who are asking for a refund are a small portion of your audience.

In the top 20% are where ‘Great’ products live. These are exceptional products where the value to the buyer GREATLY exceeds the price you’re charging.


Now, let’s say you just released a product and customer feedback starts coming in:

  • “Eh, I’m disappointed”
  • “Doesn’t seem worth the price”
  • “I’d like a refund”

We feel hurt — our pride takes a bit of a knock — but this is actually a great opportunity to increase the value of our product.

You see, when someone writes in and asks for a refund, they’re saying ‘Hey, right now, your product is too far to the left on the spectrum of value:

Bad Product > — — **X** — — Okay Product — — — — — — — < Great Product

(X is your product)

In this case, we have three factors in play:

  • Your marketing is presenting the value of your product as A
  • Your customers are feeling that the value of the product is B
  • B < A

How do we solve this problem?

Bad Product > — — — — Okay Product ——— **X** ——————— < Great Product

The further to the right our product moves, the more value we’re delivering to the buyer.

And as we increase the value of the product, we see a flip in perception.

We reach a point where

B = A

Where the value of your product to the buyer equals the perception of value you’re creating with your marketing.

Or we reach a point where

A > B

Where the value of your product to the buyer exceeds the perception of value you’re creating with your marketing.

The more value you add to your product, the further to the right you move on the spectrum of quality.


So. We just launched a product. And people are unhappy.

That means that the value that our product is delivering to our customers is less than the value that our marketing paints the product as delivering.

So, our marketing is working really, really well. The issue is that the product itself needs to be improved to move further to the right on the spectrum of value and deliver more value to the buyer (so A = B or A > B).

How do we achieve this? By iterating and expanding on the product and adding additional resources — answers, walk-throughs, step-by-step processes, checklists, worksheets, scripts, interviews, etc. — that help our audience solve the problem they’re experiencing.

And the best way to find out what your product is missing? What the problems are with your product?

Ask the people who are dissatisfied.

Ask the people who are writing in with negative feedback.

Ask the people who are requesting refunds.

These are the people who have clearly identified the problem, the lack of value in your product.

To move your product further to the right on the spectrum of quality, you need to understand the problems that these people, the people who are specifically raising their hand and saying “Yo, I’m not satisfied.”

First, you want to refund these people. Make them happy. Tell them that you hear them and you’re refunding them.

Now, take this opportunity to talk with these customers and ask them about the problems they experienced with your product.

Don’t ask questions about potential solutions or what they’d like to see added. People are wonderful at identifying problems, but terrible at identifying solutions to said problems.

Instead, use a socratic questioning method to ask them questions about the problems they’re experiencing with their product:

  • What did they expect when they bought your product?
  • What were they looking to get out of your product?
  • What change would have improved your product?
  • What annoyances prevented them from enjoying your product?
  • What questions were they expecting to be addressed that weren’t?
  • What resources did they feel were missing from the product?

We want to ask these questions to understand the problem that the buyer felt. Then, we want to identify how we can solve the problems they’ve uncovered and increase the value of our product.

And by understanding the problem(s) that buyers have with your product and adding new content, fixing annoyances, or better understanding their expectations, you’ll be able to improve your product and go from here:

Bad Product > — — **X** — — Okay Product — — — — — — — < Great Product

To here:

Bad Product > — — — — Okay Product ——— **X** ——————— < Great Product

And turn unhappy customers (past, present, and future) into happy customers.

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