I put it off way too long–really, I did. I kept our prices low to try to bring in new business. I thought that if we offered the lowest-priced option, price-conscious agents would pick our classes. Then through the volume of their buying, Bryan Ventures would naturally increase revenue.
Here’s an interesting fact about insurance agents–those that are worried about the price of their insurance CE versus the quality of the education, don’t last long in this business. We really didn’t see our volume of sales increasing. We are a quality provider, offering insurance classes and service that is better than our competitors. You can read all about it in a 2020 blog titled, JUST 30 DOLLARS.
When I say I waited too long to make this change, I mean it. We introduced 30 DAYS UNLIMITED ACCESS for $30 in 2012–more than 10 years ago–and we’ve never increased the price. EVER! Part of the reason I didn’t is it’s catchy–$30 DAY for $30, a dollar a day. But gosh darn it, I have to sell LOTS of $30 packages to pay my mortgage or make a car payment. It was time for a change–maybe way past time.
I thought $39 still sounded pretty good. Not as catchy as a $30 match with $30 days, but still catchy–and fair. A 30% increase over 10 years–3% per year average. On a whim, I check the official inflation calculator, https://www.usinflationcalculator.com/. Sure enough, my $39 price change was right in line with the Consumer Price Index (CPI). (Image below.)
I was also toying with the idea of increasing the cost of our discounted bundle purchase of 24 HOURS ONLINE INSURANCE CONTINUING EDUCATION. This package NEVER EXPIRES–the credits can be used in multiple renewals and we sell this for just $45. Less than $2 per credit hour.
For some reason, $59 seemed like a good price change on this package and when I put it into, https://www.usinflationcalculator.com/, BAM–that price was right in line from 2012 pricing as well. Please see the image below this text. It says that $45 in 2012 would equate to $59 today. Actually, a little more than that so we are giving you a firm bargain.
That really isn’t an accurate comparison, however. You see, we have held that $45 price since 2002, about 20 years. This was early in the ONLINE INSURANCE CE market, and many companies were beginning to offer classes. At first, I had no idea how to price ours. In 1999, I started at $125 for 24 HOURS ONLINE INSURANCE CONTINUING EDUCATION. This seemed fair and reasonable at the time. For 12 LIVE INSURANCE CE hours, we were charging $145. The cost for 24 would then be $290, so the $125 price for 24 HOURS ONLINE INSURANCE CONTINUING EDUCATION was less than half what an insurance agent would pay for the same number of LIVE INSURANCE CE hours.
But the classes weren’t selling. Looking back, this was customary. It was a brand new market–the internet was new. Most people were still using mail, fax, or calling us with credit cards. I was worried we overpriced and I took it down to $75 for 24 HOURS ONLINE INSURANCE CONTINUING EDUCATION.
Please take a second to look at the next image below. If we were to apply the real inflation to our discounted package of 24 HOURS ONLINE INSURANCE CONTINUING EDUCATION for $45 from the original and correct date of application in 2002, we should now price it at the $75 fee we collected in 2000 for the same product.
Since I am a geek, and all this irony with numbers is too much for me to believe is coincidence, I decided to see what the $75 price for 24 HOURS ONLINE INSURANCE CONTINUING EDUCATION, the price it was in 2002 to before we applied the next discount to $45, would be today. Oh my gosh, it turns out it is about $125–the price we started for this package in 1999. See the next image below.
Don’t worry though, we are not going to increase the price that high. Part of the reason I have kept it low is to compete with other insurance continuing education providers, sure–but the main reason is I still want to make the BEST INSURANCE CE VALUE for you. I’ve been blessed to get to know the thousands of agents who use our insurance continuing education classes. You matter to me.
With that in mind, effective August 15, 2023, the price for our 30 DAYS UNLIMITED ACCESS will increase to $39 and our discounted bundle purchase of NEVER EXPIRE 24 HOURS ONLINE INSURANCE CONTINUING EDUCATION will increase to the lowest price mentioned above, the one that first came to mind, $59. We are letting you know about this change now so you can take advantage of our “antique” pricing before it goes away. You can buy multiples of the 24 HOURS ONLINE INSURANCE CONTINUING EDUCATION, and they will remaining in your learning center as long as the platform exists. There is NO LIMIT so feel free to stock up at this LOW, LOW prices.
Look for more updates coming up. There are lots of good changes at Bryan Ventures, and all of it means the BEST INSURANCE CE for you. Be blessed and I hope to see you in a LIVE INSURANCE CE course soon.
This blog highlights changes to our online course pricing. Published July 2023. Renee E. Bryan also publishes writing on her blog: WrongWayLizzie.Me.
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