how can i charge a premium for my online course

For the premium course, you can charge your customers more and consider using payment plans where you can either pay once or pay for up to six months or yearly. You can go premium when you offer exclusive content or more extended course offering more features or an advantaged course e.g. towards winning certification in the medical field etc.

Full Answer

How much should I charge for my online course?

Unless your goal is something other than to maximize revenue from your course sales, you should probably price your course for $199 or more. That being said, there are a few scenarios where charging a low price for your course can actually be a smart move.

How can I increase the price of my online course?

Offer a payment plan A proven way to increase sales of an online course with a higher price point is to simply offer payments plans. Many people prefer to spread the cost of a course over an extended period of time rather than pay for it in full up front.

How to choose the right pricing for your courses?

An impulse buy of a low-priced course is easily forgotten, but a premium course will get them engaged and focused on their learning objectives. An incentive that should also be part of the learning process. Understanding who your customers are can help you decide on the price. Better yet, it can help you come up with a pricing strategy.

Should you offer free or paid online courses?

When your goal is lead generation Many online course creators offer free courses in order to generate leads for their business. For example, you can create a mini-course that you give away for free. At the end of your free course, you invite your students to purchase your paid course which offers more in-depth training on the same topic.

How much should I charge to build an online course?

It can cost anywhere from $200 to $10,000 to create an online course. The main source of expenses is the labor involved, followed by the equipment and software. If you are creating the online course yourself and not paying someone else to do it, this means that other than your time there are very few expenses involved.

What is the average cost of an online course?

Price of an Online Degree Nearly every institution will have program-specific fees and tuition rates. Among 170 public ranked colleges, the average cost credit hour for online college is $316 for the 2019-20 academic year. Among 168 private ranked colleges, the average price per online credit hour is $488.

How much should I charge for an email course?

Make your baseline price higher than you think We're just going to lay it out: Consider pricing your online course at least $100. Because you've validated your idea, acquired an audience, and developed your course, you already know it's valuable. A good baseline price for a course is $100, if not more.

Is selling online courses profitable?

Are Online Courses Profitable? Yes, they are. Online courses offer one of the best business models to digital entrepreneurs. The demand is rising and people are more than willing to pay for them, and they are one of the top ways to make money online.

How do you price elearning?

Here are four starting points to consider.Know who you're targeting. This should happen right upfront before you start your project. ... Calculate the cost. ... Understand external factors. ... Estimate the demand for your product. ... Pay per course pricing model. ... BSI Group. ... Moody's Analytics. ... Membership (unlimited access) pricing model.More items...•

How long should your online course be?

Most experts confirm that a good length for a web-based course is somewhere between 15-30 minutes. This traditional opinion builds on psychological research, specific content patterns and, more often than not, gut feeling.

Which online platform is best?

10 Best Online Learning Platforms In 2022 To Jumpstart Your CareerSkillshare.Coursera.Mindvalley.Udemy.Brilliant.org.Edx.org.Udacity.LinkedIn Learning (Ex Lynda)More items...

Does teachable take a percentage?

What percentage does teachable take? Teachable does have a transaction fee that you need to be aware of. There's a 5% transaction fee on all course sales which can reduce your earning potential with this platform.

How much should a freelance marketing email cost?

Long story short: pricing varies widely depending on the scope of work, but most email marketing agencies often charge anywhere between $300 to $2,000 per month for their services.

How do you sell an online course?

In this article, you'll find an overview of the 10 major stages of online course creation:Pick the perfect course topic.Ensure your course idea has high market demand.Create Magnetic and Compelling Learning Outcomes.Select and Gather your Course Content.Structure Your Modules and Course Plan.More items...•

How can I sell online courses on my website?

Sell Online Courses from Your Own Website: How to SucceedCreating an ecourse. Sell video courses online. ... Choose a topic. Think about your professional experience and history. ... Set your price. ... Come up with your course title. ... Create your ecourse. ... Keep it simple. ... Structure your ecourse. ... Nail down the visuals.More items...•

Can I sell my course on Udemy?

Udemy makes money from selling online courses, so it's in their best interest to sell as many courses as they can, and this means they actively promote your courses for you. There is no other website like it in existence. It's the easiest way to make money online in 2016, and it's just the beginning.

Is online education cheaper than traditional education?

Taking online courses tends to be significantly cheaper than taking classes on a traditional college campus. The average online student will spend approximately $100-$400 per credit hour in an online course. As an on-campus student, there are often additional costs associated.

Is online college cheaper?

Online college costs less than many traditional campus programs. Online degrees at public four-year schools cost an average of $10,776 less than in-person degrees, according to EducationData.org. Students pursuing an online bachelor's degree spend an average of $51,091.

How long does it take to develop 1 hour of eLearning?

How long does it take to develop 1 hour of eLearning? A average 1-hour interactive elearning course will take 197 hours to develop. But development of a 1-hour elearning course can range between 49 hours for the low end of the range of a “basic” course to 716 hours for the high end of the range of an “advanced” course.

How much does it cost to host a course on Coursera?

Overview Of Coursera Costs Its Guided Projects take no more than 2-hours to complete, start at $9.99. Next, we have its Specializations and Professional Certificates that start at $39 a month and can take up to 6 months to complete. The MasterTrack Certificates start around $2,000 and take less than a year to complete.

What is pricing tier?

Pricing tiers make your course accessible to a larger number of students and to students who may not be interested in all of the bonuses you’re offering. To create your pricing tiers, first decide on which pieces of bonus content you want to offer.

How to charge more for a course?

Go on and charge more 1 Your revenue goals will be easier to meet. Selling a course at a low price point, requires you to enroll more students to reach your income goal—meaning you’re spending more time acquiring new clients. If you charge a higher price, you’ll be able to meet your goals quicker and better use your time. 2 A smaller group makes for a better course experience. If you’re only dealing with 15 students as opposed to 50, those students will get more of your focused attention. This is ideal for securing repeat customers as well as potential referrals for your business. 3 Premium pricing increases engagement and communicates value. Pricing your course or coaching session at a premium, ensures students see their purchase as an investment—and one they want a return on no less. 4 Secure—and weed out—students. If your course is priced too low, you’re likely to get a number of students who aren’t quite your target audience and will likely drop off or not purchase again. Those who will succeed and get the most from your offerings will be more than happy to pay more and thus are more likely to make another purchase.

What does charging less mean?

Would you believe us if we said it’s as simple as: Charging less means you make less money. Premium pricing will help you in the long run and has a number of benefits.

What happens if a course is priced too low?

If your course is priced too low, you’re likely to get a number of students who aren’t quite your target audience and will likely drop off or not purchase again. Those who will succeed and get the most from your offerings will be more than happy to pay more and thus are more likely to make another purchase.

How to be successful teaching the same course?

Even if someone else is teaching the same course topic, you can still be successful by highlighting what makes your course unique. Highlight your perspective and use it as a selling point. Most importantly—don’t be afraid to price accordingly. Students have faith in you. (We do too.)

What is an online course?

Simply put: An online course provides a shortcut to an outcome. Without your course, your audience might spend ten times the amount of time sifting through information on their own. Perspective is your selling point.

Why sell a course at a low price point?

Selling a course at a low price point, requires you to enroll more students to reach your income goal —meaning you’re spending more time acquiring new clients. If you charge a higher price, you’ll be able to meet your goals quicker and better use your time. A smaller group makes for a better course experience.

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About the author

Lauren Cochran is the Director of Content for Podia, an all-in-one platform where online courses, digital downloads, and communities scale with their creators. Ironically, she gets tongue-tied talking about herself, and can usually be found with a to-do list in hand.

Should I Charge a Recurring Monthly Subscription Fee?

Charging a recurring subscription fee, whether it’s on a monthly basis or not, can be a very attractive proposition. If all goes according to plan, it could be your ticket to passive income.

How to Succeed with Recurring Subscription Fees

One alternative option is to charge access to your course on a subscription basis but to limit the payment cycles to a set number of months. After this period has passed, a member can then be granted lifetime access.

How to Set Up Membership Fees on a Monthly Basis

Most good membership tools will give you the option of setting the billing type to recurring when creating a new membership plan or product.

Don't Forget Automated Reminders!

Another useful feature to look for is the ability to send out automated reminders to your members as the expiration date of their payment method approaches. These reminders can be invaluable if you want the collection of recurring payments to run smoothly

Final Thoughts on Membership Website Recurring Fees

As you can see, by choosing the right tools or platform for your online course or membership site, creating plans with recurring subscription fees is relatively straightforward.

Why do we need a workbook?

It’s basically a handy tool to keep everything about your course in place.

What to do if you aren't an expert?

If you aren’t the expert, bring in someone who is! Hearing from industry professionals is always a major bonus for your audience. Not only are they getting valuable content from you, but they’re also hearing advice and real-life experience from people they admire.

What is a pre-course bonus?

It’s basically a handy tool to keep everything about your course in place. You can even send them as a pre-course bonus if you think your audience needs some prepping to be fully prepared for the course or after the course is over for follow-up work.

What does it mean when you have a skill down pat?

When you have the course’s skill down-pat, that means more freedom and more peace of mind. When it all comes down to it, your audience is looking for transformation – that one thing that will help them get out of their current situation and into the life they dream of.

What does it mean to set price point at baseline?

If you set your price point at the baseline according to Teachable, you will have a much wider audience. Making it affordable to the majority means more people can take your course and if you’re solely in this for the good of the people and don’t need the income, then this area on the spectrum might be for you.

What does it mean when you give away an online course?

When you give your online course away, it’s like you’re telling your audience that it’s not worth their time or that there’s no value to it – and that’s just not true.

Who is Dani Stewart?

Dani Stewart. As a daughter of an entrepreneur, the wife of an entrepreneur, and an entrepreneur herself, Dani has lived and learned all sides of creating and growing businesses. She is excited to bring all that life experience as well as a decade of crafting content to the ConvertKit community.

What are the barriers to pricing online courses?

One of the main difficulties and barriers when it comes to pricing online courses is the idea that you are charging for your expertise, which can be really intimidating. But something you should always keep in mind is that you are not just selling knowledge, you are selling a transformation (and if you’re not, you should!). ...

Why is value added in a course so high?

So the value added in a course is very high because you are not delivering something with expiration date, you are delivering something that can be tapped to achieve lasting results. Let’s look at the following three course topics: 5 mindfulness meditation techniques to relieve stress and improve your quality of life.

How to know how much to charge to make a profit?

To know how much to charge to make a profit, start adding up all your expenses with creating and selling the course. Another thing you need to understand, is that the effort required to market a course is independent of its price, the work is the same .

Why is it important to have a deadline before a price increase?

A deadline before a price increase is also helpful to push potential customers to buy earlier, especially if they are price-sensitive. Discounts should be a last resort for difficult customers but may also backfire and under-value your course. However, avoid massive discounts and long term discount periods.

Why is it important to have a higher price?

A higher price will allow you more flexibility when giving our discounted courses with coupons, attract a better clientele and fewer communication hassles and attracting a higher class of clients that can afford more expensive products and can expand your business.

Why is an online training course worth more than you give it credit for?

That is because an online training course is the amalgam of your work and life experiences, years of learning and education.

What is LearnWorlds platform?

When using LearnWorlds as your platform of choice, you will be giving them access in the most high-end educational platform and the added value of joining a community of similar learners where they can network, engage and communicate. It is not just an educational experience, it is a life experience worth valuing high.

What is online course?

Online courses offer valuable knowledge not found anywhere else. Your years of experience in a multimedia format for them to learn. Learners, students, and clients pay to get access to something they value.

How much is the elearning market worth?

The elearning market was worth $107 billion in 2015, $190 billion in 2018 and is expected to exceed $300 Billion by 2025 (E-Learning Market Size By Technology)! Investing in education and lifelong learning is an emerging trend among both old…. How to Sell Online Courses: The Ultimate Guide for 2021.

Is it a good idea to compete on pricing?

Competing on pricing is not a good idea, but knowing what the market prices are in your niche can help you set up your course price accordingly. A competitor can be offering physical workshops, online training, courses in a marketplace, free youtube videos, email courses.