Chou: Course refund rate is around 5%
Steve Chou · EP 390: Is This The Most Successful InfoProduct Ever? · Aug 18, 2016 · at 9:18
Steve Chou discloses the refund percentage for his online course business to Nathan Latka.
0:00 / 0:02exact quote · 2.8s
720p mp4 · rendered on demand · StarZero watermark
“The refund rate is on the order of five percent.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Steve Chou
Steve Chou: Raising online course prices improved the quality of enrolled students
“I started raising it really quickly because early on the quality of students wasn't so good, and I found out by raising the price, the quality got a lot better.”
Chou: Bumblebee Linens sees ~60% net margins on personalized items
“For the personalized stuff, yeah, on the order of 60.”
Chou: Wedding products command higher markups due to low price sensitivity
“We target weddings, and so you can mark up wedding stuff obviously a lot higher than other things, because people don't care about price so much as quality.”
Steve Chou: Course made $500K in 2015 and matched it by mid-2016
“So last year it did 500,000. And then this year we're already at that same point, half, halfway through the year.”