The Thousand Solutions Blog

How Do You price your online course (with calculator) --

Aug 11, 2022

It's taken a lot of laborious process of creating an online course. It's time to begin pricing your courses online that you've developed.

The right price for your product can be difficult. The price will depend on a variety of factors such as the degree to which you offer the products you sell on a marketplace or your own site, whether it's a go-at-your-own-speed offer or a live-streamed class that lasts some time as well as other factors.

However, there is a common practice for the pricing of your online class, and it is discussed in the subsequent post.

In addition, we'll provide an online calculator which can help you determine the best price for the product you need.

Quickly locate the items we'll be covering:

Factors for Pricing An Online Course

1. Where it's hosted

There are a few sites that allow you to host an online class. Each site has specific fees, which can be worth considering for your cost.

It's possible to host your online course through a marketplace such as Udemy as well as an online creator, such as a course builder for creating an online course that you can host on your own personal site.

When you are hosting on an online marketplace, you could receive a 50% per cent of the revenues. Also, you'll be subject to the platforms' terms of service, their promotional events, and more. There isn't any control you have over how your course is priced and you won't own any of the information about your customers that you gather. This is why the majority of instructors that create online courses would rather host their classes on their own sites.

You could run your online course on your own site. There is the Free Forever plan that only charges an amount of 5% per transaction. Your customer's data will be yours to keep you can set your own prices for your course and your website is yours to keep. When you use a host it is possible to charge any amount you would like for the online course. Additionally, you are not required to compete on price with other instructors on the same platform.

In addition, the firm offers other offerings including features for:

  • Bundle online course bundles that include electronic downloads (e.g. ebooks, printables, etc)
  • You can upload lessons in a variety of formats, such as videos, quizzes, texts embedded in surveys, assignment or downloads
  • Promote your online courses using the variety of marketing tools, including affiliate programs coupons, coupon coupons, and many more.
  • Use drip content to release sections of the online course at a predetermined rate
  • Give your students a range of payment options , from single-time charges and plans for payment as well as subscriptions, and more.
  • Make customizable certificates of completion

2. Live vs. Anytime

The cost for your online class varies based upon the type of live streaming or if you're able to complete the course anytime, in your own time.

A live course requires the instructor's presence and usually takes place during sessions that are scheduled for weekly. It is a fantastic method of engaging your students since you are able the opportunity to communicate with them with them in real time. But, it implies that you need devote more time and resources to teaching, and you must take this into consideration when pricing your classes. Classes like this can be costly within the range of $1,000+.

You can also drip lessons at your own discretion to control the pace of your instruction. The drip lessons let you impart your knowledge to your students using a planned method, and allow students to take classes out at a predetermined rate. This keeps your students engaged and engaged as they are able to have a reason to return to the course.

An online course that can be picked up and completed at any time will usually cost less but you'll likely be able handle a greater number of students. This isn't an issue to increase the size of your course since it is able to be taken by a large amount of students. Courses that are set to run at your own rate could cost anything from $10 to $500, according to the contents of the class.

3. Popularity of the topic

4. The Value of the Course

What is it that qualifies you as an expert when it comes to giving online courses? If you've been as a teacher for a decade or more and have a high-quality curriculum, your courses should reflect that. If you create courses in collaboration together with experts, having both of you involved in a course could boost the value of your course.

If you're also available to review assignments, or answer to questions, and so on, the course will also be more effective. Think about how much effort goes into the course. It's not just about creating it but once it's in place to be able to estimate the price depending on the time you spend and work.

5. Competition

Find out about your competitors in your field of expertise. The best approach is to not set the price solely upon the cost your rival is charging. In the end, it's better to concentrate on a value-based price.

However, it's essential for you to understand the lack of expertise in your niche. If you're facing a shortage of experts in your field, it's likely that you'll be able to market your courses online at a higher price.

If you're operating in a aggressive market, keep in mind that you can modify your strategy specifically for specific niches. Examples include specific areas across the globe, specific languages, certain population or demographic data, etc.

What is the cost average for an online course?

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

100 dollars are commonplace on course marketplaces online like Udemy, Skillshare, and such. But, the top end of the range is generally what you pay for a course in subjects that can help someone begin their careers.

There is a possibility of finding an online class for just $5,000. It will cover the basics of web development and marketing or any other area in which you can make money. Additionally the typical course for $5,000 would include assignments, certifications along with a live instructor. Therefore, the value that is perceived by this price of $5,500 is higher than the price you'd see on the marketplaces for course.

How do You Price An Online Course

It's been discussed before that the price of an online course. It's based on a variety of aspects. If you're trying to reach a niche audience or trying to get new customers and customers, the amount of outcomes you get through your course will differ. If you're seeking some examples of the cost you will need to charge your courses for students who will be attending check out the online no-cost calculator of course prices, which we've provided below to get the exact amount you should be paying for your course and also the amount of sales you will generate from that cost.

Online Course Pricing Calculator

Course Income Objective $
The estimated cost for course creation Cost: $
The size of your audience
Estimated Conversion Rate ( percent)
Suggested Course Pricing

$ 0.00

High-end vs. Affordable

If you're planning to market your class, the price point matter. Are you more likely to sell at a higher price with the risk of being a little less popular or at an affordable cost with many students? Which price range will yield an overall higher return? Do you have a second option which is more suitable for your financial goals?

Sellers who want to offer high-end prices could include additional content, such as eBooks and digital downloads and access to a Facebook group that is exclusive for demonstrating the worth of the course is that costs more.

If you're offering an affordable cost, you'll require lots of learners to ensure that your course is successful. This means you'll need find a way to attract clients and a large number of people who are online for your course easily. If you are aware about the ways you can advertise your online course for free The price might be an ideal choice for your course.

Think about your revenue goals prior to pricing your course on the internet. Think about the value that you offer as well as the amount you'd want to be earning from sales total in addition to the price of the product you create, and finally, your personal preferences for what you set the price. Creators who know how to effectively market themselves will be better placed to promote their products effectively and offer premium rates.

Four Strategies for Pricing Strategy

1. An all-in-one fee

The one-time payment is a common pricing strategy for your first online class. If the students want to only pay once and only once, you'll be able give a less expensive total price because of their affordability. Therefore, your tuition could only be a few hundred dollars, at the most.

An expensive price isn't going to fit with a one-time fee as it's a significant sum to charge onto their credit card. Therefore, you'll need to be thinking about the most expensive fee for one-time charges of around $1,000. Typically, for this price class, you'll have the ability to make money passively which means it's not a live-instructional class. Therefore, you'll be able to keep a number of students in your online class regularly.

2. Payment Plans

A payment plan is an ideal alternative when pricing your course when you're on the high end of the scale ($1,000+). Credit cards usually have limits so should the price of the course go beyond the credit limit for credit card holders, a payment plan can aid in the process of cutting it down into pieces.

In most cases, people who take payments for their online course can be penalized by splitting the price into multiple payments for the inconvenience for the instructor of the course, as the majority of people prefer to be paid all in one lump sum.

If you're charging students for online courses, consider a payment method if you charge a higher price to accommodate more people.

3. Subscriptions

Subscription models are commonly used for creating online course marketplaces. For instance, say you've designed a few online courses , but you'd rather offer an annual subscription for others to gain access to the entire course instead of charging for each individual class. You could opt for an under-the-hood subscription method in this instance.

If the course is determined using a subscription model people will pay through a monthly payment plan. However, you can also set up a monthly charge in the event that you'd prefer an annual lump-sum payment for numerous months.

A typical subscription comes with a fair price, however if you bundle the subscription in the calendar year, it's possible to charge a premium cost, but with a discount. Your clients will be satisfied since they'll be able to access every piece of information you've got as well as not having to worry about promoting individual courses. The price will include the entire online education available on your website, making it possible to generate higher course revenue overall.

4. Free

You might choose to create your own free online course in the event that you're trying to sell an other product and utilize the course to draw more people to your website. Customers who are interested in this idea will be happy because they will not have to pay for the course. It will attract more people. Furthermore, the cost of the course is likely to be higher since there's no fee associated this, which means less risk to the students.

While course development may take long but using it for an effective marketing method is a common practice, therefore it may help your conversion rates.

It's a good thing that you are able to price your online course using all of these strategies. Therefore, whether you're offering a low priced course in order to attract more customers or using the subscription model to offer many classes, you'll be able to make substantial amounts in cash by using any one of these methods. Remember, even courses that are free are able to draw new customers. So, price your course accordingly.

Strategies to Enhance the Quality of Your Course

1. Develop an community

A personal Facebook page specifically for your students is a great method to keep in touch to your students, and increase the efficacy of your online courses. It is possible to create a group can facilitate the formation real relationships between your students where they are able to help each other grow.

2. Offer Coaching Opportunities in a 1:1 format

Do-at-your-own-pace classes may not be appropriate for everyone. There are students who have more questions that are much easier to be answered in a live video conference. In this case, you might consider giving 1:1 coaching sessions for your students.

3. Bundle with Downloadables that comes with a bundle

4. Provide a Certificate of Completion

A formal certificate of the completion of a course is an excellent way to award your students with a strong satisfaction. A certificate of completion can be a great method to motivate students to dedicate the necessary work and time required to complete the entire course.

 FAQ

How do you price an online program?

The calculator is free that is available to determine the price of your online course because there are numerous things to think about when choosing the best cost.

How much will it cost you to promote the online courses?

It is important to include cost of marketing in your pricing. In the event that you have an crowd, you could utilize your personal image and your audience to advertise your course for free. However, if this is your first course you're offering, it could take you around a thousand dollars promoting through social media, advertisements on Facebook, Facebook groups and more.

What is the most efficient platform for online course sales?

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