Final Attempt At Making This Forex Product Work... (3)

Hi STM,

After multiple millions spent on ads in the Forex Niche and being very successful with it, Myself and a colleague of mine decided to put together a "beginners" FX course as a side project in order to build up a nice list and up-sell higher ticket items in the future.

The course Overview:
Forex Course (Beginner)
Weekly Coaching
FX Signals

The course teacher (Alex) is a very successful FX trader and to be honest, compared to some of the courses online it is insane value.


Our first lesson;
I also own a private affiliate network, so we thought we could leverage this and get the affiliates pushing it most of our affiliates are in the FX Signal/Course niche.

We made the mistake at the time of putting the price high ($300 and a recurring up-sell) so they could make good money, we found that these affiliates struggled to sell it mainly because of the high price + recurring, so we ended up lowering it but it still didn't convert so well (even though the affiliates had people selling it, not just running ads).

Lesson two;
We basically merged the course and the upsell into one and just changed the price to 99$ a month, again this didn't convert. We then dropped it down AGAIN to a 7 day free trial + 29$ after the 7 days, this made it completely unattractive to our affiliates so we started running FB Ads.

Facebook Failure;
We started running FB ads, We have possibly one of the best audiences due to having access to certain pixels, and we have a really nice ad, so I was pretty certain we could make it work.

Stats:
UK 1000$ spend:
AD CTR ALL: 2.70%
AD CTR Link: 0.80%
Initiate Checkout: Around 16$
2 Sales (trials started)

US 1000$
AD CTR: 2.29%
AD CTR Link: 0.86%
Initiate Checkout: Around 15$
2 Sales (trial)

Also tried in South Africa, had tons of clicks, add to carts etc, no sales (not even of the free trial)


Now I don’t want to give up on this but I do have some issues,

UK Financial regulator is clamping down heavily on Signal Providers & we have been told to stop selling these or we could face 2 years in Jail... Ok so we remove the signals.

As I said this is a side project so it will only make a small impact on our earnings, if more of hobby than anything, but we want to make it work, without going to jail.

Motivation has dropped massively,
1) we had issues with the first website
2) the email from the FCA
3) There is a bad "smell" about Forex in the UK at the moment

Now, I have given up on projects like this before and always regretted it, because with a slight tweak it would of worked, So before I give up on it, I’m reaching out the STM where I started my media buying projects around 6 years ago for some advice!


More Info:
We introduced the 7 day free trial so people could come in and see the quality of the course and build trust, we also addressed this in the ads, but again, it didn’t work.

Forgot to add link to Salespage;
https://signifx.com/p/ultimate-begin...ex-course-plus

Have you tried the approach of offering something totally for free, without asking for a payment or even stating the final price?

What I would do, would be to take part of the course, convert it into a "free ebook" and offer it to people for download in exchange for their email. So basically, I would give them a couple of lessons for free, then try to sell the whole course.

The way you have it setup now requires credit card info and even though the trial is free, people might be afraid to enter their data as the forex/trading vertical is full of scammers and people know that. By giving them part of the course for free, you could gain their trust and once they realize the value, they might decide to buy the whole course.

How about that?

Originally Posted by matuloo

Have you tried the approach of offering something totally for free, without asking for a payment or even stating the final price?

What I would do, would be to take part of the course, convert it into a "free ebook" and offer it to people for download in exchange for their email. So basically, I would give them a couple of lessons for free, then try to sell the whole course.

The way you have it setup now requires credit card info and even though the trial is free, people might be afraid to enter their data as the forex/trading vertical is full of scammers and people know that. By giving them part of the course for free, you could gain their trust and once they realize the value, they might decide to buy the whole course.

How about that?