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What to price Your Online Course (with Calculator) How to Price Your Online Course (with Calculator)

Aug 11, 2022

The hard task of creating your own online course, but now is the perfect time to begin pricing online courses that you've developed.

Deciding on the best price for your product is a difficult process. There are many variables to consider, such as the extent to which you sell your goods on a marketplace or through your own site and whether the option is go-at-your-own-pace or a live class with a duration of several weeks along with a variety of other aspects.

There is however a common method of pricing your online course, which we'll cover in this article.

In addition, we'll provide an online calculator that can aid you to determine the ideal pricing for your product.

Links to quick-find the things we'll be covering:

The factors that determine the price of an online Course

1. The location where it's located

There are many sites where you can design your online course, and each platform has its own rates you need to take into account when calculating your cost.

It's possible to make your course available online via marketplaces like Udemy or utilize an online platform for creating courses, like a course creator to build online courses on your site.

If you're hosting your site on marketplaces, it is possible to receive a charge of around 50 per cent of the earnings. Additionally, you are subject to the platform's Terms of Service, promotional activities including. You have no say in the cost of your course and you won't have the ability to control your marketing data. It is due to the fact that many instructors that create online courses choose to host the courses on their own sites.

The option is to develop an online course and host the course on your own website. There is the Free Forever plan that only costs an amount of 5% per transaction. Customer's data will remain in your possession. You are able to set the prices you want for your class as well as your website will become your own asset. Through hosting services, you have the ability to set whatever price you like for the online course you offer as well as not need to engage against others in the marketplace.

Furthermore, the company provides other services which comprise:

  • Bundle bundles of online courses with digital downloads (e.g. ebooks, printables, etc)
  • Upload lessons in multiple formats like video, quizzes, text, assignments, surveys, embeds, or downloads
  • Promote your courses online by using a variety of marketing tools , including affiliate programs Coupon codes, coupons, and so on.
  • Create drip content that will release sections of the online course at an established pace
  • Provide your students with a range of choices of payment methods, such as one-time fees or payment plans as well as subscriptions and additional.
  • Make customizable certificates of completion

2. Live vs. Anytime

The cost for your online course varies depending upon whether it's live , or when you're able complete your course at any moment, in your preferred time.

Live-based courses need the instructor's presence and is often done during sessions scheduled to run every week. This is a fantastic method of engaging students since it allows the instructor to speak directly to students directly. It is also necessary to that you devote more time and funds in teaching. You must consider this in the pricing of your courses. Courses like these might be more costly within the $1000+ range.

Additionally, you can create drip lessons that you want to manage the time of the lessons. Drop lessons enable you to teach your students with a structured manner and also allow you to start courses at a specific timing. This keeps your students motivated and engaged as they are motivated to return to the course.

The ability of online courses to begin and finish at any time is usually cheaper, however you'll be able to handle an increased number of students. It's not a problem to scale as your online course could be bought by an unlimited amount of students. The courses that take place on your own schedule could range from $ up to $500 based on the content of the course.

3. The popularity of a topic

4. Advantages of Your Course

What makes you an expert to teach online classes? If you've been in the business for longer than 10 years, your price will reflect that. When you design courses with other professionals, the two of you creating a course can increase the worth of the course.

If you're available to grade assignments, answer questions, etc The course could prove better value. Take into consideration how much time and effort will be needed to develop the course, not just to create it , and then once it's in place, so that you're able to estimate the cost based on the amount of time and effort.

5. Concurrence

Research your competitors in the field you are in. We don't recommend setting your price solely on the services your competitors are selling. Instead, concentrate on value-based pricing.

It's crucial to be aware of the absence of experts in your field. If you're in the market to fill a gap in the number of experts in your field then you'll likely be able to promote your online courses in a greater way.

If you're in a highly competitive market take note that you can modify your strategy to certain segments, like specific regions of the world or a specific language, demographics or population trends, etc.

What Is the Average Cost for an online course?

The price for an online course ranges from $100-$5,000.

The course cost of $100 is typical on courses marketplaces on the internet like Udemy, Skillshare, and others. But, the top end of the scale is usually the cost of a course for subjects which can assist individuals in starting their career.

It is possible to find a $5,000 course which teaches your the basic concepts of website development, marketing or other topics that allow you to earn income. Additionally an average course worth $5,000 will have assignments, certifications as well as instructors who live. This means that the perceived value of that price is higher than what you'd see on the marketplaces for course.

How do You Price An Online Course

The cost for an online course based on a variety of elements. If you're aiming at a different market or wish to acquire new customers The number of sales you generate for your course can vary. If you're seeking an example of how you can price your course to the people you want to reach, try the online course pricing calculator that we've provided for you to get the exact example of what to charge for your course and what it will bring in sales from that cost.

Online Course Pricing Calculator

Course Incentive Scope $
Estimated Cost of Course Creation $1,500
The size of your audience
Estimated Conversion Rate (%)
Suggested Course Pricing

$ 0.00

The Premium Price vs the Price that is Affordable

If it's the time to market your course, price point are important. Are you more likely to sell at a high price, but with the potential of having fewer students, or at a more affordable cost that has a large number of students? What is the best value overall? Are you able to find a different option one that will meet your financial objectives?

People who wish to market with higher costs may add additional material, like ebooks or digital downloads, access to a private Facebook page which can demonstrate the worth of the higher priced course.

If your course is being sold at a bargain price, you'll need many students in order to make sure your course is profitable. You'll need to figure out a way to attract students and a lot of students online to your class. If you're aware of the places where you could advertise your class for free, this price point may be an ideal option for your class.

Think about your revenue goals prior to pricing your course online. Consider the value you can bring and the amount you wish to make in sales total and the price of what you produce in addition to the prices you feel good to set. Creatives who are able to effectively promote their work are successful in marketing their product effectively, and they charge the highest prices.

Four Tips to Pricing Strategy

1. A one-time fee

The one-time payment is the most common method of pricing your first online course. If students are willing to only make one payment and only once, then you can provide a lower total price because of the affordability. Therefore, your class may be only a few hundred dollars.

A cost that isn't necessary isn't an ideal idea in the case of a one-time charge since it might be quite an amount of money to be charged the credit card. So, be thinking about the most expensive amount for a one-time payment of approximately 11,000. If you're in this category, you'll have the ability earn passive income which means there's no instructor-led class. That means you'll be able to have a number of students taking your online classes regularly.

2. Payment Plans

Payment plans are an effective way of pricing your course, particularly if it's at the top of the price range ($1,000or greater). Credit cards typically have limitations therefore if the tuition cost is greater than the credit limit for a card A payment plan could aid in breaking it into pieces.

The majority of businesses that offer installment plans to the online course are usually in a position to charge an additional fee to split the price into multiple payments in order to inconvenience the creator of this course. The majority of customers prefer paying a lump payment.

If you're charging students for your online course it is recommended to consider an installment plan, especially if you are charging a higher cost to allow for the addition of more students.

3. Subscriptions

Subscription models are typically utilized for online course marketplaces. As an example, if you've made a plethora of online courses , you'd prefer to bill a monthly subscription fee for people to gain access to your entire course instead of charging for each course. It is possible to use the subscription model in this case.

If the cost of the course is determined by subscription models, students will pay on a monthly basis. However, you can also make a payment for the entire year for those who prefer a lump-sum payment over a period of time.

A subscription model will typically come with a reasonable price, but when you bundle the subscription into a whole year, you could charge a higher price, however with a discount. Customers will be delighted as they'll have access to your entire material, so you won't have to think about marketing the courses on your own. The price you pay for your course will be inclusive of everything that is available on your site which means you'll generate more course sales in general.

4. Free

The possibility of creating your own free course, in the event that you're trying to promote something new and using the course to draw more people to your site. People who are interested by the course will be happy because they don't have to buy the course, which means you'll attract many more learners. Additionally, the value of your course will increase since there's nothing to purchase, so there's less chance for the student to be at risk.

The creation of courses can consume a lot of time. However, the use of them as marketing strategies is common and can increase the rate of conversion.

It's a great thing that it lets you charge your online course according to any of the above methods. If you're providing a low-cost course to get more potential students , or charging a subscription model for multiple courses, you can generate a considerable sum of money by using one of these strategies. Don't forget that even free courses could attract more students. Therefore, be sure to set the price accordingly.

Tips for Increasing the The value of your course

1. Develop A Community

Establishing an exclusive Facebook group for students can be a fantastic way to maintain contact with them and increase the benefit of online classes. The creation of a community can allow students to have authentic conversations with each other in which they help one in developing each other.

2. Coaches may be instructed through one-on one sessions.

Courses that let the student to go at his individual pace might not be the best choice for every student. There are times when students face additional challenges that are easily to answer via live video calls. In these cases, consider providing coaching sessions in the one-on-one setting with your students.

3. Bundle of Downloadables and Bundle

4. Offer Certification of completion

A Certificate of Completion is the perfect way to thank your students by giving them a satisfaction. A certificate of completion could provide extra encouragement for students to dedicate the necessary hours and work required to complete every aspect of the class.

FAQ

How can you estimate the price of an online training course?

We've created a free calculator to use in pricing your online course because there are many aspects to consider when calculating the perfect cost.

What will it cost you to market online classes?

It is important to include the cost of marketing into the price of your course. If you already have an public, you may benefit from your own brand and audience to promote your courses without cost. If this is your first time offering an educational course, you might invest a couple of thousand dollars promoting through Facebook ads, social media channels, groups and more.

Which platform is the best one to sell online courses?

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