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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 been an extended, difficult process to design your online course and now you're ready determine the cost of your online course you've designed.

The right price for your business can take a lot of effort. There are numerous factors to think about, like the type of product that you're offering on marketplaces or on your own site and whether it's go-at-your-own-pace or a live class which lasts for a few weeks and various other aspects.

However, there's a standard procedure for pricing your online course. This is discussed in the subsequent article.

We'll also provide an online calculator to help you determine the best price for the product you're looking to purchase.

Locate links to quickly access items we'll discuss:

Prices for an online Course

1. Where it's hosted

There are numerous places in which you could host an online class and every one of them offers different prices and must be taken into consideration when planning the budgeting process.

You can host your online course through an online marketplace like Udemy or an online course builder which lets you run an online course through your personal website.

Hosting on an online marketplace you may be eligible to receive 50 percent share of revenue. Also, you're subject to their Conditions of Service, promotional events, and much more. There is no control over pricing your course , and you won't be capable of controlling the information that you share with your customers. It's because most instructors that create online courses would rather host the courses on their own websites.

It is possible to run an online course on your own site. The site offers an Free Forever plan that only charges five percent for each transaction. Your customer's details will be yours to set the cost for your course, and your website will remain your own asset. Through the assistance of a host, you are allowed to decide the amount you like for an online course, and you are not required to participate in price wars with instructors on the same level.

In addition, offers other offerings and services, which include the following options:

  • Bundle online courses with electronic downloads (e.g. ebooks, printables, etc)
  • Upload lessons in multiple formats, including texts, video, quizzes assessment, surveys, embedded documents, downloads, or questions
  • Make money selling your online course through its assortment of tools for marketing, including coupon codes, coupons for affiliate programs, coupons, and many more
  • Make drip-content that will let you release specific sections within your online class at a predetermined rate
  • Offer your students a variety of payment options such as one-time fee or subscription plans as well as more.
  • Make customizable certificates of completion

2. Live in contrast to. Anytime

The cost of online classes depends on whether or not it is live, or if you are able to take the course at any time and at the pace you prefer.

Live courses require the instructor's presence, and typically take place as sessions that are set for weekly. This is a great opportunity to interact with students as it allows the instructor to talk to them live in real time. However, it could indicate that you will need to put more resources into teaching and you should take this into consideration when pricing your courses. Courses of this type can be priced higher by around $1000.

You can also make drip lessons use if you'd like to control the speed of your instruction. Drip lessons help you instruct your students in a pre-planned method, which allows you to start and end the lessons at a certain time. It keeps them motivated and enthusiastic as they have definitive reasons for them to return to the class.

An online course that can be started and taken anytime is usually priced less but you can likely manage more participants. It isn't a problem to scale as your online class can be bought by an unlimited number of individuals. Courses that are set to take place at your own rate might be priced anywhere between $10 and $500 depending on the content of the class.

3. Popularity of the topic

4. Advantages of your Course

What's it that is what makes you an expert when it comes to instructing online classes? If you've been in the business for more than a decade, the cost of your online course should be reflective of that. If you're co-creating your courses together with professionals, having those two working together on a course could boost the value of your course.

In addition, if you're able to grade assignments, answer questions, etc, the course will also provide more benefit. Consider how much time and effort you put into your course. This isn't just about putting together it. It's about ensuring that the enrollment commences, you'll have the ability to estimate the cost based on the time you invest and the effort.

5. Concurrence

Study your competition in your field. We don't recommend basing your price solely based on the services your competitors are offering. Instead, you should be focusing on cost-based pricing.

However, it's vital that you recognize the lack of knowledge within your particular subject. If you're in the middle of a shortage of experts in your area, it is likely that you'll have the ability to cost the course online more.

If you're in a competition-driven market, be sure that you could modify the training you receive to specific particular niches. As an example, you could focus on regions around the world, dialects that are specific to or even a particular population and so on.

What's the cost average of An Online Course?

The price of an online course can range from $100 to $5,000.

The typical price is 100 dollars in online marketplaces for courses like Udemy, Skillshare, and such. But, the top end of the spectrum is typically an average for classes designed to help students get started on their careers.

There is a possibility to find the $5k course to learn you about online development, marketing or any other area that permits students to earn cash. Also, typically a course that costs $5,000 will offer an opportunity to receive the certificates, work assignments as well as instructors that live. Therefore, the value that is perceived by that $5,000 price is a far greater than what that you'd find in a market of courses.

How do You Price An Online Course

The cost of your online class is contingent on a number of variables. If you're trying to reach a brand new target audience or hoping to gain lots of customers The amount of revenue you generate through your course may vary. If you're seeking an instance of how to price your course for your intended audience try the cost-free pricing calculator for online courses which we've assembled below to help you know exactly what to determine what price is appropriate for your program as and the number of sales you will generate from that cost.

Online Course Pricing Calculator

Course Income Scope $
Cost Estimated for Course Creation $1000
Your audience's size
Estimated Conversion Rate (%)
Suggested Course Pricing

$ 0.00

The premium price vs. the Affordable Price

When it's time to sell your class, the pricing point is important. Are you more inclined to offer a higher cost with the possibility of fewer students, or at an affordable price with a greater number of students? Which price point is worth an increase in overall profit? There is a way to choose a price point that will benefit your bottom line?

People who wish to market at premium prices might include additional materials, such as eBooks and digital downloads, access to an exclusive Facebook group, to demonstrate the value of the more expensive course.

If you're offering a decent amount, then you'll need a large number of students to make sure that your class will be profitable. This means you'll need locate a method of attracting clients and a large number of people who are online taking your course organically. If you have a plan you can promote your course for zero cost, then the pricing might be the best one for you.

Make sure you think about your sales goals before pricing your online course. Consider the value you could bring to the table to the table, the amount you wish to make in sales overall as well as the expense of the product you create in addition to the prices you feel good to set. The people who know how to market themselves will be able market their product effectively and be able to sell their products at a high price.

Four Strategies for Pricing Strategy

1. A one-time fee

A one-time fee is popular cost-cutting strategy when beginning your first online class. If you can convince people to pay only once and you'll be able to get a lower value overall thanks to affordability. So, the tuition may be just a few hundred dollars.

The price of a premium shouldn't be a factor in the case of a one-time payment since it could be quite an amount of money to be charged their credit card. It is therefore important to consider the highest price you can charge for a one-time fee which is approximately $1000. Typically, for this price of $1000, you'll be able to make money passively that is, it's not an instruction live course. It means you'll have numerous students studying your course on a regular basis.

2. Payment Plans

Payment plans are the best option when it comes price-setting your course, especially when you're at the top end of the range ($1,000+). Credit cards generally have restrictions therefore if a tuition cost exceeds the limitations that a credit card can provide, a payment plan could help them reduce the cost into small segments.

Most often, instructors offering payment options to their online classes can charge a fee to split the cost into multiple installments to avoid being uncomfortable for the person who created the course. of the course, as the majority of people would prefer paying in one large lump amount.

If you charge for an online course you should consider offering an option to pay by installments if you are charging a higher price to allow for more students.

3. Subscriptions

The subscription model is usually used in online course marketplaces. In the case, for example you've created a variety of online courses , however you'd rather charge an annual subscription that helps people have access to all of the courses rather than charging per class. You could opt for the subscription option in this scenario.

If the program you're developing is built around a subscription agreement clients are more likely to be charged monthly for subscriptions. However, you can also create a monthly payment in the event that you'd prefer a lump-sum over a period of time.

Subscription-based models are likely to come with a reasonable cost, but when you combine it with an annual period, it's possible to offer a higher cost and offer a discount. You'll make people happy because they'll be able to access all the content available, as well as being free from the burden of advertising the individual classes. Your price will cover everything online that you offer on your site, which will mean you'll be able to increase your course sales overall.

4. Free

You can create an online course for free if you're trying sell something different and then utilize the course to bring more visitors to your website. Potential buyers will be thrilled by the course because they don't require it to buy. It means that there'll be more learners. Furthermore, the cost of the program is greater because there's nothing to pay for it, which means less risk for users.

Making classes can take a significant amount of time. Using it in marketing tactics is very common, which can help increase the rate of conversion.

It's a good thing that you can set the price of your online course by applying any of the techniques above. Therefore, whether you're selling an inexpensive course to attract more customers or by using the subscription model for several courses, you could earn a substantial sum of cash by employing one method above. Remember, even courses that are free can help draw new students. So, ensure that you determine the cost accordingly.

Tips to Increase value of your course

1. Develop A Community

Establishing an exclusive Facebook group for your students is an effective way to remain close to them while increasing the impact of your online program. A community-based approach allows for real connections between students so that they are able to assist one another grow.

2. Provide Coaching Opportunities in the format of a one-to-one

The do-at-your-own-pace online courses might not be the best choice for every student. Some students face issues that could be much more easily to be addressed during live video calls. If this occurs, you should consider offering coaching sessions with your students.

3. Bundle of Downloadables as well as Bundle

4. Provide a Certificate of successful completion

An official certification of achievement is a great way to give your students a sense of accomplishment. Offering a completion certificate can provide students with a sense of incentive to commit the required energy and time to finish every aspect of the class.

FAQ

How do you price the price for an online class?

This calculator is completely free and you are able to test for the cost of your online course since there are numerous elements to consider when calculating the ideal cost.

How much does it take for a class's advertisement?

It is crucial to add marketing expenses into the cost of your course. If you have a pre-existing community, you could make use of your own image and followers to market your program without cost. However, if this is your first class that you are providing, it may cost you a few thousands of dollars to promote your course through social media, advertisements on Facebook, Facebook groups and many more.

Which is the top one to sell online courses?

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