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How do you price Your Online Course (with Calculator) -

Aug 11, 2022

You've done all the effort of developing your online course. Now is the time to begin pricing online courses you've created.

Finding the best price could be difficult. There are many variables to consider including the type of product you're selling on marketplace or through your own website or if it's go-at-your-own-speed or a live-course that runs several weeks, as well as many other factors.

However, there is an accepted method of how to price the online course that we'll cover in this article.

We'll also provide a free calculator to aid you in finding the right product price for your needs.

Quick find links of items we'll discuss:

The factors that determine the price of an online Course

1. Location where it's being hosted

There are a few sites where you can create your online course, and each of those platforms has different rates should be considered to your cost.

It's possible to offer your online course through a marketplace such as Udemy or an online course builder such as a course builder to create an online course on your own website.

If you host on an online marketplace, you could be charged around 50% of your earnings. Additionally, you are subject to their Conditions of Service, promotional events, and more. There is no control over how your course is priced as well as you don't have the right to the marketing information you collect. This is why the majority of instructors who create online courses prefer hosting their courses on their own websites.

You can use to create an online course and host it on your own website. The site offers a Free Forever plan that only charges a 5% transaction fee per sale. Your customer's data will be yours to keep and set the price for your course and your website will remain an asset that you control. When you use a hosting service, you'll have the flexibility to offer any price you prefer for your online course. You also aren't required to participate in price battles with other instructors in the same market.

Additionally, it offers additional services as well including features for:

  • Bundle online course bundles with electronic downloads (e.g. ebooks, printables, etc)
  • Learners can upload lessons in a variety of formats, including video, quizzes, text assignment, surveys embedded files, downloads or quizzes
  • Sell your online courses with  its variety of marketing tools including affiliate programs, coupon codes, and many more.
  • Use drip content to release portions of the online course at a set pace
  • Offer your students a variety of payment options , including one-time fees and payment plans, to subscriptions and much more.
  • Create customizable certificates of completion

2. Live vs. Anytime

The cost of your online course differs based upon whether the course is live or how long you are able to take the course at any time, and at your own pace.

A live course requires instructors to be present and is often done during sessions that are scheduled for weekly. This is an amazing opportunity to interact your students because you get to interact with them in real-time. However, this is also a requirement devote more resources into teaching and you should be aware of this when pricing your classes. Courses like these are priced more expensively at around $1,000.

You can also make drip lessons available if you'd like to control the rate of instruction. The drip lessons let you instruct your students in a planned way, where you can deliver courses at a specific speed. It keeps students interested and interested as they find a solid reason to keep coming back to your course.

A course online that is able to be started and taken anytime is usually priced less but you can likely manage an increased number of students. You won't struggle with scalability since your online course is able to be taken by an infinite amount of students. Classes that take place at your own rate might be priced anywhere from $10 to $500, depending on the content of the class.

3. The popularity of a topic

4. The Value of the Course

What qualifies you as an expert to teach online courses? If you've been working in your profession for the past decade, your course pricing should reflect that. If you co-create courses in conjunction with professionals, the possibility of you collaborating on a course could enhance the worth of the course.

If you're also available to mark assignments, respond questions and more The course can become more useful. Think about the amount of time and effort is required to create the course. It's not just about the creation of it. Once it's in place and you'll be able to rate it according to the time you put in and energy.

5. Competition

Find out about your competitors in your field. We don't recommend setting your price point solely based on the price your competition is offering. Instead, focus on value-based pricing.

That said, it's important that you understand the scarcity of knowledge within your niche. If you're in the market for a shortage of specialists in your field it is likely that you'll have the ability to sell the online course more.

If you're in a highly competitive market keep in mind that you may still tailor your courses on specific areas, for examples, regions in the world, specific dialects, or a specific population or demographics, etc.

What Is the Average Cost of An Online Course?

The price of an online class ranges from $100 to $5,000.

A $100 course price is common on online course marketplaces such as Udemy, Skillshare, and such. The higher end of the scale is usually 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 the basics of web development, marketing or other topic which allows you to make money. Also, typically a course that costs $5,000 will include tasks, certificates along with a live instructor. So the perceived value of this price of $5,000 is much higher than that you'd get in a marketplace for courses.

How do You Price An Online Course

The cost of your online class is contingent upon a number of factors. If you're trying to reach a wider market or are hoping to gain more customers, the profits you earn through your course may differ. If you're looking for some guidance on how to cost your course for your target audience, try the free price calculator for courses online that we've put together below for you to get an exact example of how is the appropriate price for your course, and the amount of sales you will generate from that cost.

Online Course Pricing Calculator

Course Income Scope             $    
Estimated Cost of Course Creation             $    
The size of your audience
The Expected Conversion Ratio ( percent)
Suggested Course Pricing

$ 0.00

The Premium Price vs the Affordable Price

When it's time to sell your course, price points matter. Would you rather sell your course 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 an overall greater return? Is there an alternative that is better for your financial goals?

People who wish to market at high prices could include bonuses content, such as eBooks and digital downloads, access to an exclusive Facebook group, to demonstrate that the course is worth the extra priced course.

If you're charging an affordable price, then you'll need a lot of students to ensure your class is profitable. So, you'll need to find a way to attract customers and many online learners to your online course naturally. If you know where to market your course for free This price range could be a good fit for you.

Consider your goals for revenue before pricing the online courses. Think about the value that you can bring, how much you want to earn in total sales and the price of the course you produce, as well as the price you are comfortable about charging. Creatives who are able to promote themselves are able to promote their course well and charge premium prices.

4 Tips for Pricing Strategy

1. A one-time fee

The one-time payment is a common pricing method for the initial online course. If you can convince people to pay one-time you'll likely be able to offer a cheaper price overall, because it's affordable. So maybe your course is just a couple hundred dollars at most.

An extra cost does not make sense as a one-time fee as it's a significant amount to charge their credit card. So you'll want to think about the maximum amount for one-time fees of around $1000. In general, in this range, you'll be able to make money passively which means it's not an instruction live course. Therefore, you'll be able to have a number of students taking the online course on a regular basis.

2. Payment Plans

Payment plans are a great option when it comes to price your course if it's at the top of the scale ($1,000plus). Credit cards often have limits which means that if the tuition cost is more than the limit of someone's credit card A payment plan could assist in breaking it down into chunks.

In most cases, the companies that charge installment plans to pay for an online course can make a charge for the division of the cost into multiple installments for the inconvenience of the course creator, since many people prefer paying a one-time fee.

If you are charging for an online course, consider a payment plan if you charge a higher amount to be able to serve more customers.

3. Subscriptions

Subscription models are typically utilized in online course marketplaces. If, for instance, you've developed a number of online courses , but you'd rather charge a monthly subscription to help others gain access to all your courses instead of charging for each course, you might choose the subscription system in this scenario.

If the cost of the course is determined by subscription models, students will pay on a monthly plan. You can, however, offer a year-long payment if you prefer to pay a lump sum for a period of time.

A subscription model will typically be a low price however, if you combine the subscription into a calendar year, it is possible to charge a premium cost, but with a discount. You'll make people happy because they'll be able to access every piece of content you have as well as not having to worry about promoting the courses separately. Your price will include the entire online education available through your site, meaning you can generate more course revenue overall.

4. Free

It is possible to develop your own free course, if you're trying to sell some other product and utilize it to drive more visitors to your site. Your potential customers will love it because they won't need to purchase it, so it will attract more people. Plus, the course value will be higher since there's nothing to pay for this, which means less risk for a user.

While course creation can take some time however, using it as a marketing strategy is a common practice, which can help increase the conversion rate.

The good news is that you can charge your online course according to any of the above methods. So whether you're selling courses at a lower price in order to attract more students or charging a subscription model to sell many courses, you'll be able to gain a considerable sum of money by using one of these methods. And remember, even free courses can help attract new students. So, price your course accordingly.

Strategies to Enhance the The Value of Your Course

1. Develop a Community

Creating a private Facebook group for your students is an excellent method to keep in touch with them , and to increase the value of your online course. The creation of a community can allow you to build genuine interactions with your students, where they are able to help one another develop.

2. Offer 1:1 Coaching Opportunity

Online courses that allow you to take your own pace may not be appropriate for everyone. Sometimes students have additional questions that are much easier to address during a live video call. In these cases, consider giving coaching sessions on a 1:1 basis to your students.

3. Bundle with Downloadables

4. Give a Certification of the successful completion

An official certificate of completion can be a fantastic way to provide your students with a strong feeling of achievement. A certificate of completion can provide extra encouragement for students to put in the time and effort to complete the whole course.

 FAQ

How do you price an online program?

The calculator is free that you could use to estimate the cost of your online course, as there are many factors involved with making the best price.

What is the cost to market an online class?

It is important to include marketing costs into your course price. If you have a pre-existing crowd, you could utilize your personal brand and audience to promote your course without cost. However, if this is your first class that you are offering, it could cost you thousands of dollars in promoting on social media, ads facebook groups, and more.

What platform is best for online course sales?