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

Aug 11, 2022

The laborious work in developing your online course. But now it's time to start pricing online courses that you've developed.

Picking the right price can be a challenging task. It'll depend on numerous factors, such as the extent to which you offer your products on a marketplace or on your website, whether it's a go-at-your-own-pace or a live course which lasts for a few weeks and many more variables.

But, there's a common practice for how to price your online course, which we'll cover in this article.

In addition, we'll provide an easy calculator to aid you in finding the right pricing for the item you want.

Quick find links of things we'll cover:

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 platform charges various rates that should be considered in your expenses.

It's possible to offer your online course on a marketplace like Udemy or you can use an online tool for course creation that lets you host an online course through your own site.

When hosting on an online marketplace, you could be charged around 50% per cent of the revenue. Additionally, you are subject to the platform's Terms of Service, promotions occasions, and much more. There is no control over how your course is priced as well as you don't have the right to your marketing data. That's why most instructors who create online courses prefer hosting their courses on their own websites.

You could create an online course and host it on your site. They have an Free Forever plan that only requires an amount of 5% per sale. Your customer's data will be yours to keep and set the price for your course, and your site will become an asset that you control. With the help of a host, you have the flexibility to charge any amount you would want for your online course, and you do not have to compete in price battles with other instructors within the same marketplace.

Additionally, it offers additional products and services, including options for:

  • Bundle online course bundles with digital downloads (e.g. ebooks, printables, etc)
  • Learners can upload lessons in a variety of formats, such as questions, videos, text assignment, surveys embeds, or downloads
  • Market your online courses using  the variety of marketing tools available such as an affiliate program Coupon codes, coupons and many more.
  • Create drip content that will release specific sections of your online course at a set pace
  • Provide your students with various payment options , including one-time fees and payment plans, to subscriptions, and many more.
  • Provide customizable certificates of completion

2. Live vs. Anytime

Pricing your online course also depends upon whether it is live-streamed or when you're able to complete the course any time and at your own time.

Live courses require the instructor's presence and is often done during weekly classes. This is an amazing method of engaging with students since students interact with them live in real time. But, it can also mean that you need spend more time and money in teaching. You should consider this when pricing your classes. The courses of these types can be priced higher at around $1,000.

Alternately, you could drip lessons using if you'd like to control the rate of instruction. Drop lessons permit you to guide your students in a planned way, where you can let courses go out at a predetermined pace. It keeps students interested and interested as they have definitive reasons to continue going back to the class.

A course online that is able to be taken at any time is usually priced less but you can likely manage a higher volume of students. You won't struggle with scalability as your online course can be bought by an unlimitable number of students. Classes that go at your own pace could cost anything between $10 and $500 dependent on the subject matter of the course.

3. Popularity of the topic

4. The Value of the Course

What qualifies you as an expert at teaching online classes? If you've worked in your industry for a 10 years, your pricing will reflect this. If you're co-creating courses with experts, the two of you working on a course could boost the value of your course.

In addition, if you're able to mark assignments, respond questions and more it will become more useful. Think about the amount of work goes into the course, beyond just the creation of it. Once the enrollment begins 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 do not recommend setting the price solely on the price your competition is pricing. Instead, you should concentrate on a value-based price.

However, it's essential for you to understand the lack of expertise within your niche. If there is a scarcity of specialists in your field then you'll likely have the ability to sell your online course higher.

If you're in a highly competitive marketplace, remember that you can adapt your course on specific areas, for instance, certain regions of the world, particular dialects, or a specific population, etc.

What Is the Average Cost of an Online Course?

The cost for an online class ranges from $100 to $5,000.

100 dollars is typical on course marketplaces online like Udemy, Skillshare, and others. The higher end of the spectrum is typically the cost of a course for subjects which help students begin their careers.

You might find the $5,000 course which teaches your the basics of web development, marketing or other topic that allows you to earn cash. In addition, a typical course that costs $5,000 will include tasks, certificates, and a live instructor. So the perceived value of the $5,000 cost is much higher than that you'd get in a marketplace for courses.

How do You Price An Online Course

As we already learned the cost of your online class is contingent upon a number of factors. If you're targeting a new audience or hoping to get new customers, the number of profits you earn from your course will vary. If you're in need of an example of how you can price your course to your target audience, try the free online course pricing calculator that we've put together below for you to get the exact amount to charge for your course and what sales could generate using that amount.

Online Course Pricing Calculator

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

$ 0.00

High-end vs. Affordable

If you're ready to sell your course, price points have a bearing. Would you rather sell your course for a higher price with the risk of having less students, or a lower cost that has many students? Which one is more in the long run? Is there an option that will benefit the bottom line?

Sellers who want to offer high prices could include bonuses material, like electronic books, downloads or access to a private Facebook group to help prove the value of the higher priced course.

If you're selling your course at a low cost, you'll require many students in order to make sure your course is profitable. So, you'll need to find a way to attract people and students naturally to your class. If you're aware of a way to market your course for free This price range might be the right one for your course.

Make sure you think about your sales goals before pricing your online course. Consider the value you bring and the amount you wish to earn in total sales as well as the expense of what you produce, as well as the price you are comfortable to charge. People who understand how to sell themselves will be able to promote their course efficiently and offer premium pricing.

Four Tips to Pricing Strategy

1. One-time Fee

One-time fees are a popular price strategy when you're starting your initial online course. If people are willing to only pay once, you'll be able to offer a cheaper cost overall because it's affordable. So maybe your course is a few hundred dollars at most.

An extra cost doesn't make sense for a one-time fee as it's a significant amount for someone to put on your credit card. Therefore, you should be thinking about the most expensive cost for a single-time charge being around $1,000. For this cost bracket, you'll be able earn passive income, meaning it won't be an instructor-led course. This means that you'll be able to have a number of students taking your online class regularly.

2. Payment Plans

A payment plan can be an excellent alternative pricing your course, especially if you're on the upper end of the spectrum ($1,000or more). Credit cards typically have limitations which means that if the course price goes beyond the limit of someone's credit card A payment plan could help them break it down into pieces.

Most often, instructors who offer payment plans for their online course are able to charge a fee for dividing the cost into multiple installments to avoid the discomfort of instructors, because most people prefer being paid only once.

If you are charging for an online course, consider a payment plan in case you are charging a higher price to accommodate more people.

3. Subscriptions

A subscription model is often employed in online course marketplaces. For instance, say you've created dozens of online courses but would prefer charging a monthly payment for people to get access to your entire curriculum instead of charging for each course. In this case, you could choose an underlying subscription approach in this instance.

If your course is based on subscription models, students will pay on a monthly plan. But, you may also charge annually if you'd prefer an annual lump-sum payment for many months.

The typical subscription model will have a lower cost however, if you combine it over a period of time, it is possible to charge a premium cost, but with a discount. People will be delighted because they'll get access to everything you've got to offer, and you won't have to worry about promoting courses individually. Price will be inclusive of the entire online education available on your website, so you can generate more course revenue overall.

4. Free

You might choose to create an unpaid course when you're trying sell something different and then make use of it to increase traffic to your website. Customers who are interested in it will appreciate the idea because they will not have to pay for it so there will be more learners. Furthermore, the cost of the course is higher because there's nothing to pay for the course, meaning less risk for a user.

Although course development can take some time however, using it as marketing strategies is commonplace, and it can improve your conversion rates.

Fortunately, allows you to set the price of your online course by using any of the methods above. If you're offering courses at a lower price in order to attract more students or charging an annual subscription fee to market many courses, you'll be able to earn a substantial amount of money using any of the methods above. Don't forget that even free courses can help attract new students. Therefore, you should rate your course according to the needs of your audience.

Tips for Increasing the The Value of Your Course

1. Build an Community

The creation of a private Facebook page for students is an excellent option to remain connected to them and increase the value of your online courses. Building a community allows the creation of genuine relationships between your students where they will be able to assist each other improve their skills.

2. Coaches can be coached in one-on-one sessions.

The do-at-your-own-pace online courses might not be suitable for all. Students may have additional concerns that are easier to answer in a live video conference. When this happens, think about offering 1:1 coaching sessions with your students.

3. Bundle that includes Downloadables

4. Offer Certification of Successful Completion

An official certificate of completion can be a fantastic method to reward your students with a strong satisfaction. The awarding of a certificate of completion could provide extra encouragement for students to invest the time and effort to complete the entire course.

 FAQ

How do you price the cost of an online course?

We've created a free calculator that you could use to estimate the cost of your online course, as there are many elements involved in making the best price.

What is the take to advertise an online class?

It is important to include marketing expenses into the course price. If you already have an public, you may use your personal brand and audience to promote your course without cost. However, if this is your first course it is possible to spend a few thousand dollars promoting via social media, advertising on Facebook, Facebook groups and much more.

Which is the most effective platform for online course sales?