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

Aug 11, 2022

It's a daunting task to create your own online courses, yet now is the best opportunity to price the online courses you've designed.

Deciding on the best price for your product is a difficult process. There are a lot of variables to take into consideration, including how much you offer your product in a marketplace, or on your own website, and whether the option is go-at-your-own-pace or a live class that lasts for many weeks, as well as many other elements.

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

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

Quickly locate the items that we'll be covering.

Factors that influence the price of an online course

1. The place where it's situated

There are a variety of websites where you can design your online course. Each site has their own prices which you should consider when you are formulating your costs.

You are able to offer your course online via marketplaces like Udemy or make use of an online platform for the creation of courses. You can also use a platform like an online course maker to create online courses for your website.

If you're hosting your site in marketplaces, it's possible to earn a fee of around 50 per cent of your earnings. In addition, you're subject to the terms of Service, promotional activities which include. There is no control over the price of your course as well as the power to manage the marketing information you share. It is due to the fact that many instructors who design online courses choose to host the courses on their own sites.

It is possible to create an online course , and then host the course on your own website. There is the Free Forever program that charges 5% per transaction. Data of customers will be kept within your control. It is possible to decide the price you wish to charge for your class as well as your website is yours to keep. Through hosting services, you have the ability to choose the cost you like for the online training you are offering in addition to not having to compete with other companies in the marketplace.

Additionally, the firm provides other services which comprise:

  • Bundle bundles of online courses including electronic downloads (e.g. ebooks, printables, etc)
  • Learners can upload lessons in a variety of formats like video, quizzes Text, assignment and surveys, embedded files, or downloads
  • Promote your courses online by employing a myriad of tools to market your courses, like coupons, affiliate programs coupons, vouchers, and so on.
  • Develop drip-content that will make available sections of the online course at a predetermined pace
  • Provide your students with a range of choices of payment options, like one-time charges or plans for payment as well as subscriptions and additional.
  • Customize certificates of accomplishment

2. Live vs. Anytime

The cost for your online course will vary based on whether the course is live , or in the event that you are able to complete the course at any time and at the time you prefer.

Live-based lessons require instructor presence and is often done at times that run each week. It is an excellent method of engaging students since it permits the instructor to talk directly with students. Also, it is essential that you devote more time and funds in teaching. This should be considered in the price of your courses. The courses mentioned above could be more expensive within the $1000+ price range.

Furthermore, you are able to create drip lessons to control the duration of the lessons. Drop lessons allow you to teach your students with an organized manner. They also allow you to start classes at a certain time. Your students will remain motivated and engaged , as they're driven to complete the class.

Online courses' ability to start and end in any moment is generally less expensive, but you'll have the ability to accommodate an increased number of students. It's not a problem for you to increase the size of your course can be purchased by an infinite number of students. The courses that take place according to your schedule may vary from $ to $500, based on the subject matter of the course.

3. Popularity of a subject

4. The Benefits of Your Training

What is it that makes you qualified to instruct online classes? If you've been in business for longer than 10 years the price will reflect this. If you create courses in conjunction with other professionals, the two of you designing a course may increase the worth of the course.

If you're willing to mark assignments, answer questions, etc The course could prove better value. Consider the amount of time and effort that will be needed to develop the course, not only to create it , and when it's finally established, you can determine the price based on the amount of time and work.

5. Concurrence

Research your competitors in the field you are within. We don't recommend setting prices solely based on what services your competitors are selling. Instead, focus on pricing based on value.

It is crucial to be aware of the absence of experts in your field. If you're looking to fill the gap in the number of experts in your field then you'll probably be able market your online course more effectively.

If you're in a highly competitive marketplace, be aware that you are able to alter the strategy you employ to target specific segments, like specific regions of the world or even a certain language populations or demographic trends and so on.

What Is the Average Cost for an online class?

The cost of an online course is between $100-$5,000.

The cost for a course of $100 is common on courses marketplaces on the web like Udemy, Skillshare, and other sites. However, the highest end of the scale will usually be the price for courses that cover subjects that could help individuals begin their professional career.

You can find a $5,000 course which teaches the basics of web development, marketing and other subjects that permit people to make money. Furthermore, an average course of $5,000 will have assignments, certifications as well as instructors that live in the course. That means the apparent worth of the cost is greater than the price is offered on marketplaces for the course.

How do You Price An Online Course

Costs for online course is based upon a range of factors. If you're aiming at the wrong market or are looking to gain new customers, the amount of sales that you make in your course may be different. If you're looking for an example of how to price your course in relation to the market you want to reach take a look at the online course pricing calculator that we've provided for you to get the exact example of what to cost for your course, and the amount of revenue from the price.

Online Course Pricing Calculator

Course Incentive Cost Course Incentive Cost
Estimated Cost of Course Creation $1,500
Your audience's size
Estimated Conversion Rate (%)
Suggested Course Pricing

$ 0.00

The Premium Price vs the price that is affordable

If you're looking to market your course the price is crucial. Do you have a higher chance to be able to sell your course at a higher cost, but also with the possibility of having less students, or at an affordable price that is a lot of students? What is the best value overall? Do you have the ability to locate an alternative which will satisfy the financial targets you have set?

Anyone who wants to promote using higher prices can include extra materials like ebooks, digital downloads, access to a private Facebook page which can demonstrate the worth of the higher priced course.

If your course is being advertised at a low cost, you'll need many students in order to make sure your course is profitable. You'll need to figure out how to draw students and a lot of students online to your class. If you're aware sites where you can promote your course at no cost, this could be a good option for your class.

Consider your goals for revenue prior to pricing your online course. Consider the value you can add and the number you want to earn from sales and also the price of what you make along with the costs that you are comfortable setting. Creatives who are able to effectively advertise their work are successful in marketing their work effectively. they charge the highest prices.

Four Tips to Pricing Strategy

1. One-time cost

One-time payments are the most common method of pricing your first online course. If students are willing to only make one payment and at a single time, then it is possible to offer a lower cost due to the affordability. Therefore, your class may be only a few hundred dollars.

A cost that isn't necessary shouldn't be considered in the case of a one-time charge since it might be quite an amount to be charged the credit card. Therefore, think about the most expensive amount to pay in one go of approximately 11,000. If you're in the category, you'll have the ability earn passive income which means you won't have an instructor-led class. You'll also be able have a number of students taking the online courses you offer regularly.

2. Payment Plans

The use of payment plans is a great way of pricing your course, particularly if it's in the upper end of your price band ($1,000or greater). Credit cards typically have limitations which means that if tuition is greater than the credit limit for the card, a payment plan can assist in breaking it into pieces.

The majority of businesses offering installment plans to the online course are generally capable of charging an additional cost to divide the price into multiple payments so as to not inconvenience the creator of this course. Most customers would are more comfortable paying in one lump sum.

If you're charging students to take your online courses, it's suggested to think about the option of installment plans, especially if you are charging more in order to accommodate the growth of additional students.

3. Subscriptions

The most common use of subscription models is in online course marketplaces. As an example in the event that you've developed many online courses , it would be better to invoice the monthly fee of subscription for users to access your entire curriculum instead of charging per course. It is possible to use the subscription model in this case.

If the expense of the course is decided through subscription models, students will be billed on a monthly basis. You can, however, make a payment for the entire year for those who want to make a lump-sum payments for a set period of time.

A subscription model will typically come with a reasonable price, but when you package the subscription for a whole year, it could be charged an additional amount, but by offering a discount. Your customers will be thrilled as they'll have access to the entire content of your site, which means there's no need to consider marketing your classes independently. The price you pay for your course will be inclusive of all the content available on your site which means you'll generate more courses sales overall.

4. Free

There is the possibility of making your own course, in the event you're trying to market something brand new, and you want to use the course to bring new visitors to your website. The people who are interested in your course will be delighted since they won't need to pay for the course, which means you'll attract many more learners. Furthermore, the worth of your program will rise since there's nothing to purchase and there's less risk that the learner is exposed to risk.

Making courses could consume a lot of time. But, using them as marketing strategies is commonplace and could boost the conversion rate.

It's an excellent thing it permits you to charge for your online course according to any of these strategies. If you're offering a free course to draw more participants, or if you're charging a subscription-based model for multiple courses, you can generate an impressive amount of cash through one of these strategies. Don't forget that free classes can draw more students. Thus, you must decide on the appropriate price.

Tips for Increasing the The value of your course

1. Develop A Community

Setting up a Facebook community exclusively for students could be an excellent way of keeping contact with them and improve the effectiveness of online courses. The creation of a community will allow students to enjoy genuine conversations that aid one another in developing each other.

2. Coaches can receive instruction by one-on-one coaching sessions.

Courses that let the student to go at his individual pace might not be the right choice for every student. Some students face additional challenges that are easily to answer through live video conferences. In these cases, consider giving coaching sessions in a personal situation with your students.

3. Bundle of Downloadables as well as Bundle

4. Provide a Certificate of Completion

An official Certificate of Completion is a great opportunity to express your gratitude to your students for their hard work by providing them with a satisfaction. A certificate of completion can provide additional motivation for students to commit the required hours and efforts necessary to finish every part of the course.

   FAQ  

How do you determine the price for an online course?

This calculator is completely free to use in pricing your online course since there are many aspects to consider when calculating the most affordable price.

How much will it cost to promote online courses?

It is important to include the cost of marketing into the price of your course. In the event that you have an audience, you could benefit from the brand you have created and your audience in promoting your courses without expense. If this is your first time offering courses that are educational it is possible to invest a couple of thousands of dollars in promoting it through Facebook advertisements, social media channels, groups, and many further.

What is the most effective option to offer online classes?

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