How to Price Your Online Course (with Calculator) -
It's been a long, hard work of designing your own online course. Now you're ready to price the online courses you've created.
Finding the best price could be a challenging task. There are many variables to consider including the type of product you're selling on marketplace or on your own website, whether it's a go-at-your-own-pace or a live class with a duration of several weeks and many more variables.
There is however a common practice for how to price the online course that we'll discuss in this post.
In addition, we'll provide an easy calculator to assist you in determining the most suitable pricing for the item you want.
Find links quickly to the things we'll be covering:
- Price Factors Online Course
- What Is the Average cost of an online course?
- How do You Price An Online Course
- Online Course Pricing Calculator
- Premium Vs Affordable
- 4 Tips for Pricing Strategy
- Tips for Increasing the value of your course
Price factors for an Online Course
1. Location where it's being hosted
There are several locations where you could host your online course Each platforms has different rates should be considered to your cost.
It's possible to offer your course online in a marketplace, such as Udemy or you can use an online course creator like to host an online course on your personal site.
When you are hosting on marketplaces, you might receive a 50% commission on all your revenue. You're also subjected to their Terms of Service, promotional occasions, and much more. It isn't your sole control over how your course is priced and you won't own the marketing information you collect. The reason is that most online course creators choose to host their course on their own site.
It is possible to host your online course on your personal website. There is an Free Forever plan that only charges a 5% transaction fee per transaction. The customer's information will remain yours you can set your own prices for your course, and your website will be an asset that you control. When you use a hosting provider, you will can set the price you prefer for your online course. You also do not have to compete in price battles with other instructors in the same market.
Additionally, it offers additional services as well including features to:
- Bundle online courses that include digital downloads (e.g. ebooks, printables, etc)
- Learners can upload lessons in a variety of formats like video, quizzes, text assignment, surveys embedded files, downloads or quizzes
- Sell your online courses with 's variety of Marketing tools such as an affiliate program Coupon codes, coupons and many more.
- Create drip content that will release specific sections of the online course the prescribed rate
- Provide your students with various payment options from one-time-fee or payment plans, subscriptions, and more
- Provide customizable certificates of completion
2. Live vs Anytime
Pricing your online course also differs based upon whether the course is live or how long you are able to take the course anytime, as well at your personal pace.
A live class requires an instructor to be present and is often done in regular classes. It is a fantastic way to engage with students since it allows you to communicate with them in real-time. However, this can also mean that you need spend more time and money in teaching. You should consider this when pricing your courses. The courses of these types could be more expensive within the range of $1,000+.
Alternatively, you can use drip lessons you want to manage the rate of instruction. The drip lessons let you guide your students in an organized manner, and you are able to release courses at a set speed. It keeps students interested and engaged as they will find a solid reason to keep returning to the course.
An online course that can be started and taken anytime will typically be priced lower but you can likely manage an increased number of students. There is no issue with scaling because your online courses can be bought by an unlimitable number of people. Classes that go at your own pace might be priced anywhere from $1 to $500 depending on the content of the course.
3. Popularity of Topic
4. The Value of Your Course
What qualifies you as an expert at teaching online classes? If you've been in the industry for a decade, the price of your courses should reflect that. If you create courses in conjunction in conjunction with professionals, the possibility of you working together on a project could also increase the course value.
If you're also available to mark assignments, respond questions, and so on it will become more useful. Consider how much time and effort is required to create the course, beyond just creating it but once enrollment starts as well and you'll be able to price it based on the amount of time and effort.
5. Concurrence
Study your competition in your niche. We don't recommend setting your price point solely based on what your competitors are pricing. Instead, you should be focusing on cost-based pricing.
That said, it's important to be aware of the lack of expertise in your field. If there is a scarcity of professionals in your area, you will most likely be able to charge your online courses higher.
If you're competing in a highly competitive market be aware that you could adapt your course specifically to niches. For instance, certain regions of the world, specific languages, specific demographic and so on.
What is the average cost for an online course?
The price of an online class ranges from $100-$5,000.
A $100 course price is typical on online course marketplaces such as Udemy, Skillshare, and others. But, the top end of the spectrum is typically the cost of a course for subjects that can help individuals begin their career.
You might find an online course for $5,000 that will teach the basics of web development, marketing, or any other subject that allows you to earn income. Additionally, usually a five-figure course includes assignments, certifications along with a live instructor. Therefore, the value that is perceived by this price of $5,000 is more than the price you'd see in a marketplace for courses.
How do You Price An Online Course
We've already discussed the price for your online course is based on a variety of variables. If you're attracting a new market or are hoping to gain new customers, the number of sales you generate through your course may differ. If you're looking for some guidance on how to price your course to your target audience, use the online course pricing calculator which we've provided below for you to get the exact amount you can charge for your course as well as how much in sales you can generate with that price.
Online Course Pricing Calculator
Course Income Goal $
The estimated cost of course creation $
The size of your audience
Estimated Conversion Rate ( percent)
Suggested Course Pricing
$ 0.00
Premium Vs Affordable Price
If it's time to market your course, price points have a bearing. Are you more inclined to sell at a premium price at the risk of having fewer students, or at a more affordable cost that has greater number of students? Which one is a greater value overall? And is there a better choice for your financial goals?
Those looking to sell at higher prices may include additional content, such as ebooks, digital downloads, access to an exclusive Facebook group to help prove how valuable the higher priced course.
If you're charging an affordable price, then you'll need a lot of students to ensure that your course succeeds. So, you'll need to locate a method of attracting customers and many online learners to your online course naturally. If you are aware of where you can market your course for free, this price point might be the right one for you.
Think about your revenue goals prior to setting the price for your online course. Think about the value that you can bring to the table, how much you would like to achieve in terms of sales as well as the expense of what you produce, as well as the prices you feel good about charging. Creators who know how to promote themselves are in a position to market their product well and charge premium prices.
Four Tips to Pricing Strategy
1. A one-time fee
The one-time payment is a common pricing strategy for your initial online course. If people are willing to make a one-time payment, then you'll get a better cost overall because it's affordable. This means that your cost could be just a couple hundred dollars or so.
The price of a premium doesn't make sense for one-time fees since it could be quite a large amount for someone to put on their credit card. So you'll want to be thinking about the most expensive price for a one-time fee to be around $1000. Typically, for this price bracket, you'll be able to make money passively that is, it's not a live instruction course. Therefore, it's possible to get a number of students taking the online course on a regular basis.
2. Payment Plans
A payment plan can be the best alternative to price your course if it's at the top of the spectrum ($1,000or more). Credit cards usually have limits therefore if a tuition cost is more than the limit of someone's credit card the payment plan may assist in breaking it down into chunks.
Often, those who charge payments for their online course are able to make a charge for the division of the price into multiple payments for the inconvenience of instructors, because the majority of people would prefer to pay only once.
If you are charging for an online course you should consider using a payment plan in case you are charging a higher cost to allow for more students.
3. Subscriptions
A subscription model is often employed to create online courses marketplaces. In the example above, if you've created dozens of online courses , but you'd prefer charging a monthly payment for people to access all of your lessons instead of charging per course. In this case, you could choose the subscription model in this case.
If the cost of the course is determined by a subscription model, people would pay for it on a monthly plan. However, you can also offer a year-long payment if you prefer to pay a lump sum for a period of time.
A subscription model will typically have a lower cost However, if you package it into a year you could charge a higher price with a slight discount. You'll make people happy because they'll have access to all of your content, and you won't have to promote individual courses. The price tag will cover all online education that you offer on your site, which means you'll have more courses sales overall.
4. Free
It is possible to develop a free course if you're trying to promote something different and then make use of it to increase customers to your website. Your potential customers will love the course because they don't have to buy it. This means that you'll get more students. Additionally, the value of your course will increase since there's nothing to pay for it, so there's less risk for the user.
While course creation can take a lot of time, using it as marketing strategies is a common practice, and it can improve the conversion rate.
The good news is that you can charge your online course according to any of the methods above. So whether you're selling courses at a lower price to draw more prospective students or charging an annual subscription fee to market many courses, you'll be able to earn a substantial amount of cash using any of these methods. Don't forget that even free courses can help bring new customers. Thus, make sure to set the price accordingly.
Strategies to Enhance the The Value of Your Course
1. Develop an Community
Setting up a private Facebook group for students can be a fantastic way to stay connected with them , and to increase the value of online classes. Building a community allows you to build genuine interactions between your students where they will be able to assist each other improve their skills.
2. Provide Coaching Opportunities in a 1:1 format
Online courses that allow you to take your own pace may not work for everyone. Students may have additional concerns that are easier to answer via a video chat. When this happens, think about giving coaching sessions on a 1:1 basis to your students.
3. Bundle with Downloadables
4. Provide a Certificate of the successful completion
An official certificate of completion can be a fantastic way to provide the students with a solid satisfaction. The awarding of a certificate of completion could give students a boost of motivation to put in the time and effort to complete the whole course.
FAQ
What is the cost of the cost of an online course?
This calculator is completely free that you can try out to estimate the cost of your online course because there are a lot of elements involved in coming up with the right cost.
How much will it take to advertise the online courses?
You'll need to factor the cost of marketing into your cost of the course. If you have a pre-existing crowd, you could utilize your personal brand and audience to promote your course for free. But, if it's your first time offering a course it is possible to spend a few thousand dollars promoting via social media, advertising, Facebook groups, and many more.