how to price high end online course

How much should I charge to create an online course?

At an estimated 80 to 280 hours required to develop a 1-hour course, you can expect to pay roughly $5,850 USD to over $15,000 USD to get a fully polished course, in addition to the cost of your Instructional Designer (ID) and SME.

How much can you make selling courses online?

You can make anywhere from $500 to $50,000 and more by teaching online courses. To determine how much money you can make from online courses, all you need to know are the size of your audience, how well you can convert those people into buyers, and the price of your program.Jun 9, 2021

How do you price lessons?

On a per-student basis, you should plan to charge between 50% and 75% of your private lesson rate. In other words, if you charge $50 for a 60-minute, private lesson, you should charge between $25 and $37.50 per student for a group lesson.

How much do Zoom classes cost?

ZOOM – Cost: Starts at $15/ month | zoom.us You can easily create live classes and share the link with your students. The basic $15 a month account can handle up to 100 students at a time.

How do you sell an online course?

Let's recap the nine essential steps for selling your online course:Choose a subject that sells. ... Create your online course. ... Choose where to host and sell your course. ... Decide how much you will charge. ... Increase the value (and price) of your course. ... Seed launch your online course. ... Market and sell your online course.More items...

Is selling online courses profitable?

Are online courses profitable? Yes. They're actually one of the best business models you can adopt as a digital business because they're in demand and more and more people are willing to pay top dollar for them.Aug 19, 2021

How long should online courses be?

between 15-30 minutesThe Optimal Online Course Length 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.Apr 4, 2022

How much should I charge for online English lessons?

Qualified online teachers who teach English proficiency exam prep usually charge from $25 up to $40 hourly. Meanwhile, private tutors who specialize in industry-specific English like medicine, engineering, or hospitality can charge as high as $60 per hour.Mar 18, 2022

What is Classgap?

Classgap for your business Learn through private lessons, with qualified tutors all over the world. Anytime, anywhere. Choose when you want the lessons to happen: mornings, afternoons, evenings, nights, weekends... Saving money and time. Any place can be a classroom: while you are at home, at work or even travelling.

Can I charge for a Zoom meeting?

The Zoom with PayPal integration allows you to charge a registration fee for your webinar through PayPal. Upon registering for your webinar, attendees will be taken to PayPal to complete payment. Once completing the payment, they will receive the webinar's join information.Feb 4, 2022

How do you make an online course and get paid?

How to Create an Online CourseChoose a Course Topic. Make a list of things you know about. ... Do Market Research. ... Outline Your Course. ... Decide the Best Methods to Deliver Your Lessons. ... Create Your Lessons. ... Determine How You'll Sell Your Lesson. ... Load Your Course Online. ... Market Your Course.More items...•May 28, 2019

How do you make money on Zoom?

Zoom also makes money by providing a video webinar service. Zoom Video Webinar allows users to host webinars with up to 10,000 participants. It is different from regular meetings in the sense that attendees are view-only.Aug 31, 2021

How much should you drop a price from reference point?

Also, make sure you discount enough for it to matter. Generally speaking, if you drop (or raise) prices less than 20 percent from the reference point, most prospective customer will not notice or won’t care if they do. (This does, of course, depend on the price of the product.

How does pricing help you?

Your decisions about pricing can help you achieve a range of goals, from greatly increasing penetration in your current market, to entering a new market, to elevating your brand, to impacting the sales of your other products. Each of these goals requires a different approach to pricing.

What is an existing category?

Any existing category has an established acceptable price range and, as a result, your learners will have established points of reference that they bring to any purchasing decision. To the extent that you stay within an existing category, one of the main moves you can make is to influence your learners’ point of reference.

Why is higher priced offering a magnet?

In fact, the higher priced offering helps create room for increasing the price of your standard offering – which is why I refer to it as a magnet.

Do you have to have a single customer for your offerings?

Always remember that there is no single customer for your offerings. Some are looking for more value than others; some are willing to pay higher prices than others. To make sure you capitalize on the full potential of any given offering, provide multiple options at different prices.

Is pricing a set and forget?

Pricing is usually not a “set it and forget it” part of your business. You will almost always need try out multiple price points for any given offering – initially, and over time – and most of the tactics discussed above will result in your making adjustments to your prices as well.

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.

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 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.

How To Price Your Online Course

It’s now common knowledge that there is a great deal of money to be made for those who are turning their knowledge, coaching, expertise, books and workshops into online courses.

Picking The Perfect Payment Options

Another consideration for your online course pricing, is how your students are going to pay you.

Turn Your Class Into An Experience

Always try to keep this in your mind and if you were not thinking it from the start, you should start thinking about it now.

How Much Would You Value That Experience?

There is a friendly reminder for you again to keep it in mind about your calculations.

How Much Does Producing The Class Cost You?

Alright! Now your work does not end here, a good earning from a business yearns for good marketing.

Use Creative Ways To Extend Your Class And Your Pricing

There are and there should be many factors in your course which prove to be creative for extending your online class and expecting bonus earnings from it.

How often should I run a price increase campaign?

And it works every time. You can run them at set intervals (such as every six months) or whenever you need a boost to hit your income goals.

How much do you make selling books for 10?

On the first day, you sell ten books for $10. You make $100. On the second day, you decide to offer a fancy package for the book (complete with bonus materials like maps or video interviews). It’s the same book (with perks), but you’re charging $50.

Do you have to be a mind reader to buy stock?

You don’t have to be a mind-reader who can set the right price the first time (and if you are, you should put those skills to use in the stock market ). Instead, here’s the process: Make an educated guess (using the formula we provide below), test it, evaluate the results, and repeat until you have a solid price.

Can you adjust course price if you never raise price?

As you make these adjustments over time, you will get closer to the sweet spot for your course price. While tiered pricing is an excellent way to make more money, it’s not the only way to adjust price. If you never raise prices on your course, you’re leaving money on the table.

1. How does the online course fit in your overall business goals?

In our experience, there are 3 different business goals for offering online training. Each goal has different implications on pricing.

2. How are alternatives to your course priced?

Your potential customers have alternatives to taking your online course. It is best to understand your positioning against the alternatives in order to price appropriately. Generally speaking, there are 3 benchmarks to consider.

3. What are your cost considerations?

When investing in an online course, it’s important to assess the potential revenue opportunity against course development costs. Creating a course involves upfront instructional design and content creation, and ongoing technology infrastructure costs.

4. What is your willingness to test different prices?

If you are willing to test different prices, we recommend pricing high and using promotional codes for different groups until you find the sweet spot which best suits your goals. One common way to do this is to slowly release the course to your email newsletter list, while A/B testing different promotion codes (and price points).

Conclusion

Pricing your online course can be a challenging task. We hope the 4 questions described above will help you determine your pricing strategy. We’ve learned that pricing an online course is much more of an art than a science, but addressing these questions can help guide you to the right outcome.

Corporate Live Workshop

Recently, I ran a one day instructional designing workshop to a much esteemed automobile company and I had almost 25 participants in my class.

Online Live Public Workshop

I am currently running a public speaking skills workshop called “Connecting the Dots” for 6 weeks and 2 hours each week. So the total duration of the program is 12 hours.

Online Recorded Workshop: Trip Wire Pricing

I have been waiting to get to this spot, and this is my favorite. My real passion is to develop products because with products you become invincible.

Pricing an intermediate course

Now based on the first recorded product, I got a lot of insights about the pain points of my audience.

7 Ways to Justify Your High-Priced Online Course

A high-priced online course can be a tricky purchase to justify in the minds of potential buyers.

1. Provide Premium Content and Communicate It Effectively

Arguably the best way to justify your high-priced online course is to provide extremely valuable content for your students… and communicate it effectively.

2. Focus on the Transformation

Another way to justify your high-priced course is to focus on the transformation and benefits for your course students.

3. Position Your Course as the System and Solution

Next, I recommend highlighting your course as the system and solution they need to reach a goal or solve a problem faster and more effectively.

5. Share Proof and Social Proof

Another way to justify your high-priced course is to prove that it actually works.

6. Use U.S.E

Next, it can also help to use urgency, scarcity, and exclusivity (or a combination) when selling your online course.

7. List Everything

Lastly, be sure to list down all the items, features, or bonuses your course students will receive or gain access to.