how to determine the value of a online course

Revenue = Size of Audience x Conversion Rate x Price of Your Course Conversion rates for online courses vary depending on things like the topic, price, and how well you market it, but here are some guidelines: Low Conversion Rate: 0.1%–1% Mid-range Conversion Rate: 2%–5% High Conversion Rate: 6%–10%

Full Answer

Is my online course worth anything?

Your course is always worth much more than you give it credit for. That is because an online training course is the amalgam of your work, know-how, and life experiences, years of learning, and education. What you are providing is a service for your potential students to share your knowledge, a highly valued commodity.

How to increase the value of your online courses?

When one of your courses at a high enough price gathers a handful of learners, you can offer one-on-one consulting via mail or Skype. Offering consulting within your courses will undoubtedly increase their value. 4. Create A Community

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.

What is an online training course?

That is because an online training course is the amalgam of your work, know-how, and life experiences, years of learning, and education. What you are providing is a service for your potential students to share your knowledge, a highly valued commodity.

How do you evaluate an online course?

Here are 5 ways to evaluate the quality of online training so that you can ensure its success.Online Training Feedback. As the old saying goes, it's best to get it "straight from the horse's mouth". ... LMS Metrics. ... eLearning Assessment Results. ... Learner Performance. ... Measure Desired Outcomes.

How do you determine a course price?

How to choose a price for your online course:Do not price your course based on its length. ... Take a look at your competition. ... Quantify the value of the outcome your students can achieve. ... Test different price points. ... Consider your credibility/authority in your market. ... Consider the cost of your customer's alternatives.More items...•

Is the value for online courses?

Online courses offer the opportunity for you to engage with fellow learners from around the world. Through that interaction, you can gain a global perspective and learn how to work collaboratively with people from different backgrounds and countries—skills employers say they look for in candidates.

How do you add value to an online course?

How To Add Value To Your Online CourseCreate A Content Upgrade. ... Host Live Q&As. ... Offer Consulting. ... Create A Community. ... Improve The Production Quality Of Your Courses. ... Provide Weekly Office Hours. ... Offer A Penny For Your Learners' Thoughts. ... Think Outside The Box.More items...•

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.

How much do online courses make?

Your online course could earn anywhere from a $0 – $50k+ per month. Many course creators will earn $1 – 5k/month and there are numerous examples of online course teachers earning $10k – $50k per month.. There are lots of factors that will determine how much you can earn by selling online courses.

Do certificates from online courses have any value?

There is, however, a common misconception around the value of this type of learning. University and college-based courses have dominated over previous decades, meaning that online certificates can often be dismissed as not offering a similar level of value to career progression.

Is an online certificate worth anything?

The short answer – it depends on your situation and goals. If you're in one of the following situations, an online graduate certificate can most definitely be worth it: Your primary objective is to increase your earnings potential as quickly as possible while minimizing expenses.

Can I put online courses on my CV?

We recommend listing online courses in the Certifications or Professional Development sections on your CV. Some people list online courses in the Education section. We don't recommend doing so because it can detract attention from your degree programs, which you should highlight more prominently.

How can you add value to the class?

3 Tips for Adding Value in the ClassroomBe more relevant. I know you might rather listen to your favorite 90s jams and stay in your bubble of endless Saved By The Bell episodes, but it's super important to stay in tune with what's going on in the world around us. ... Ask WHY in the classroom. ... Try something new.

How can I make my course better?

Nine ways to improve online course design:Make it personal.Set clear learning objectives.Make the course easy to navigate.Keep accessibility in mind.Engage students through communication.Encourage active listening.Design engaging questions.Provide effective exams.More items...•

How do teachers add value to students?

How school teachers can bring in value-added changes to school educationIntroduction. ... Seeking advanced domain knowledge and sharing it. ... Playing a role in career planning of students. ... Inculcating a spirit of inquiry in children. ... Enabling purposeful parental involvement in education.More items...•

What are the advantages and disadvantages of online courses?

First, you should be aware of the inherent strengths and weaknesses of online courses in general: 1 Most students who gravitate toward online courses do so because of their convenience. Many don’t have set hours—instead you can watch lectures and do homework at your own pace, so long as you’re available to take exams. 2 Online courses are oftentimes (though not always) less expensive than in-person courses. This makes them a viable alternative for students trying to save money, or graduate with less debt. 3 Social opportunities. Unfortunately, online classes also have fewer opportunities for social interactions. That means you won’t have access to as many study groups, or the interactive discussions you might otherwise have in class. 4 Individual help. Online courses sometimes involve dozens, if not hundreds of people. That means your professor won’t have the time or inclination to give you one-on-one help. If you get stuck on a given subject, you might be on your own.

Is online class cheaper than in person class?

Online courses are oftentimes (though not always) less expensive than in-person courses. This makes them a viable alternative for students trying to save money, or graduate with less debt. Social opportunities. Unfortunately, online classes also have fewer opportunities for social interactions.

Can a professor give you one on one help?

That means your professor won’t have the time or inclination to give you one-on-one help. If you get stuck on a given subject, you might be on your own. If you have the option to take an in-person course for the same time and monetary costs, it’s likely worth it.

Is teaching a good experience?

Teaching is a very rewarding experience . Even if you don’t consider yourself a teacher (yet), you’ll hopefully come to see that sharing your knowledge to help people overcome their issues is a very satisfying feeling, regardless of earning potential.

Is online course good?

This one should go without saying: Online Courses are an excellent product because although you don’t need to sell in high volumes to make a decent profit (remember that your per-unit cost is virtually zero), you certainly can sell in volume.

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 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.

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.

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.

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.

What to expect when pricing an online course?

When pricing your online course, people will expect consistency with prices just as they would with your branding and tone of voice in the content you produce. Your pricing has to go along with your whole brand experience, as it will help you establish yourself as an expert in your field.

What is an online course creator?

As an online course creator, you’ re an expert in your field. You have years or even decades of knowledge on your topic, so your first instinct might be to sell that within your course. This is where some course creators make their first mistake. Instead of putting a price on your expertise and experience, you should be pricing the transformation your course will provide to your students. Dwaine Roberts, the creator of It Master Key, believes that a course’s price “is based mostly on what it provides the student.”

What does it mean when a price tag is bigger?

A larger price tag means bigger investment. Not just from you, but from your students. When people invest larger amounts of money into things , they tend to spend more time thinking about the purchase. But once they make the purchase, they’re more invested in getting the full value out of their money. The same goes for students who purchase your course.

How much does a Dwaine course cost?

Dwaine’s course prices start at $110 and go all the way to $1,600 for a bundle, which makes his courses an investment for people looking to learn about cybersecurity and the IT industry. “You can have the exact same course, one priced at $10 and the other priced at $100.

Is 1% of the market the only way to go?

One of the most common misconceptions course creators have is that focusing online course pricing on the 1% of the market is the only way to go. This belief is simply not true. Truthfully, who your pricing is going to target—whether it’s 1% or 99% of the marketplace—all depends on your business and what you want for your brand long-term. Both options are valid and can work great with different course creators.

Does it matter what percentage of the marketplace you are targeting with your online course pricing?

While it doesn’t matter which percentage of the marketplace you are targeting with your online course pricing, it’s important to note that pricing is going to become part of your brand as you grow your online course business.

How can I increase the value of my courses?

You can significantly increase the value of your courses by improving their production quality. You can do that by either using professional tools to create your course, or even hiring professionals to help you out.

What does it mean to have an exclusive course?

It makes sense that having an exclusive course means that you can be available to each of your learners. You need to devote more time to every individual and focus on their concerns, goals, and feedback.

What is LearnWorlds?

An all-in-one platform to Create, Sell & Market your online courses and provide online training. LearnWorlds empowers online trainers, educators and enterprises to create unique, interactive and social learning experiences.

Can you compete with price others set for their own course?

While it is not advised to compete with the price others set for their own course, sometimes this approach can be effective. When checking on your competitors’ pricing you can check whether your topic has a certain degree of attraction, and then you can calculate your expected sales potential.

How to add value to a course?

Showcasing industry experts is a key way to add value to your course, and a great promotional tool to drum up new customers. Involve a guest instructor who can join you on a podcast, chat with your students during office hours, or lead their own lesson. And don’t worry that bringing in an outside expert will diminish your standing with a student. Interacting with other experts can reinforce the perception that you are their peer and, in fact, help elevate your expertise.

When selling any online course, the biggest source of value is you?

When selling any online course, the biggest source of value is you. It’s your knowledge and experience your customers want. Fostering mentor relationships with your students not only improves their learning outcomes; it positively affects their overall view of the course.

What is group learning?

Group learning is a tried and tested method of teaching that can be difficult to achieve in an online setting. Creating an exclusive members’ group on Facebook, hosting messaging boards for course attendees on your website, or assigning study groups for certain modules all help foster a group identity within your customers.

When was Learning Revolution last updated?

Last Updated: March 15, 2019. A lot has changed in the world of online courses since I founded Learning Revolution. As more people discover the value of lifelong learning, the marketplace for online course has grown dramatically – and become much more crowded. Global Market Insights, Inc. predicts the e-learning market will be worth ...

Is learning styles debunked?

While there is plenty of research debunking learning styles at this point (just do a search on “learning styles debunked”), it’s still true that we all learn best when exposed to information through a variety of different media. And, of course, leveraging a single piece of content to create multiple types of content just makes sense from the standpoint of increasing the perceived value of your offerings and generating content that you can use for marketing.