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What is the best way to price Your Online Course (with Calculator) --

Aug 11, 2022

It's been a long, effort of designing your own online course. Now you're ready to price the online courses you've created.

The right price for your business can be difficult. There are many variables to consider like whether you sell on a marketplace or through your own site, whether it's a go-at-your-own-pace or a live-course with a duration of several weeks and many other variables.

But, there's an accepted method of pricing your online course, which we'll cover in this article.

We'll also provide a free calculator to assist you in determining the most suitable product price for your needs.

Quick find links of the things we'll be covering:

Price factors for an Online Course

1. Location where it's being hosted

There are a few locations where you could create your online course, and each sites has their own fees that should be considered in your expenses.

It is possible to host your course on a marketplace like Udemy or an online course builder like to host an online course through your own website.

When hosting on a marketplace, you may be charged around 50% per cent of the revenue. Also, you're subject to the platform's Conditions of Service, promotional events, and other. You won't have full control over pricing your course as well as you don't have the right to the marketing information you collect. The reason is that most instructors who create online courses prefer hosting their courses on their own websites.

You can use to run your online course from your site. The site offers the Free Forever plan that only costs an amount of 5% per transaction. Your customer's data will be yours to keep and set the price for your course and your site will become an asset you own. When you use a hosting service, you'll can offer any price you like for an online class, and you don't have to engage in price battles with other instructors in the same market.

In addition, offers other services as well including features for:

  • Bundle online courses with Digital downloads (e.g. ebooks, printables, etc)
  • Learners can upload lessons in a variety of formats, including 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.
  • Use drip content to release specific sections of your online course at a set pace
  • Offer your students a variety of payment options from one-time-fee or payment plans, subscriptions, and more
  • Provide customizable certificates of completion

2. Live vs. Anytime

The price of online courses varies depending on whether or not it is live-streamed or whether you can do the course anytime, in your preferred speed.

A live class requires instructors to be present and usually takes place in regular classes. This is an amazing method of engaging with your students as 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 take this into consideration when pricing your courses. These types of courses could be more expensive at around $1,000.

You can also use drip lessons you want to manage the rate of instruction. Drip lessons allow you to teach your students in a planned way, where you can release courses at a set speed. Your students will remain motivated and interested as they be able to have a reason for returning to the course.

Online courses that are able to be taken at any time generally will be less expensive however you'll likely be able to handle an increased number of students. It isn't a problem to scale since your online course is able to be purchased by an unlimited amount of students. The courses that take place at your own rate might be priced anywhere from $10 to $500, depending on the content of the course.

3. Popularity of the topic

4. Benefits of Your Course

What qualifies you as an expert to teach online courses? If you've been in the profession for the past decade, the price of your courses ought to reflect that. If you create courses in conjunction together with other experts, the two of you working together in a particular project can boost the value of your course.

In addition, if you're able to mark assignments, respond questions and more The course can become more useful. So think about how much effort goes into the course, beyond just making it, but after enrollment starts as well to be able to determine the cost based on the time you put in and efforts.

5. Competition

Study your competition in your field. It is not recommended to set your price point solely based upon what competitors are pricing. Instead, you should concentrate on a value-based price.

That said, it's important for you to understand the dearth of information within your niche. If there's a dearth of experts within your niche then you'll likely be able to charge the online course more.

If you're in a highly competitive market keep in mind that you may adapt your course to specific niches, for instance, certain regions of the globe, certain languages, specific demographic and so on.

What's the Cost Average of an Online Course?

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

A $100 course price is standard on course marketplaces online like Udemy, Skillshare, and so on. But, the top end of the range is generally an average price for courses that help people start their career.

You might find the $5,000 course which teaches the basics of web development, marketing, or any other subject that allows you to earn money. In addition, a typical $5,000 course will have the opportunity to earn certificates, assignments, and an instructor who is live. So the perceived value of that $5,000 price is more than that you'd get in a marketplace for courses.

How do You Price An Online Course

We've already discussed the price for your online course is based on a variety of factors. If you're targeting a new audience or hoping to get many more clients, the amount of profits you earn through your course may differ. If you're looking for some guidance on how to charge your course in relation to your audience, you can use the price calculator for courses online that we've put together below for you to get a clear example of what you can charge for your course, and what sales could generate using that amount.

Online Course Pricing Calculator

Course Income Goal             $    
The estimated cost of course creation             $    
The size of your audience
The Expected Conversion Ratio ( percent)
Suggested Course Pricing

$ 0.00

Premium Vs Affordable Price

If you're ready to sell your school, pricing points matter. Are you more inclined to sell at a premium price at the risk of having fewer students or an affordable price with more students? What price range is of a greater value overall? Do you have an option that will benefit your financial goals?

People who wish to market at premium prices might include bonus 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 charging an affordable price, then you'll need a lot of students in order to make sure your course is profitable. So, you'll need to locate a method of attracting people and students to your course organically. If you are aware of where you can market your course for free, this price point may be an ideal fit for your course.

Make sure you think about your sales goals prior to setting the price for the online courses. Think about the value that you can bring, how much you want to make in sales overall, the cost of what you create, and the price you are comfortable with charging. People who understand how to market themselves will be able to promote their course well and charge premium prices.

4 Tips for Pricing Strategy

1. A one-time fee

A one-time fee is popular price strategy when you're starting your first online course. If students are willing to pay one-time you'll likely get a better cost overall due to affordability. Therefore, your tuition could be a few hundred dollars, at the most.

A premium price isn't a good idea for one-time fees since it could be quite a large amount for someone to put on their credit card. You should therefore consider the highest price for a one-time fee of around $1000. Typically, for this price range, you'll be able to earn income passively that is, it's not a live instruction course. Therefore, you'll have many students who are taking your online class regularly.

2. Payment Plans

Payment plans are a great alternative pricing your course, especially if it's at the top of the scale ($1,000or more). Credit cards often have limits and so if a tuition cost is more than the credit limit for a card, a payment plan can help them break it down into pieces.

Often, those who charge payment plans for their online course can charge a fee for dividing costs into several installments in order to inconvenience the creator of the course, as the majority of people would prefer to pay only once.

If you are charging for online courses, consider a payment plan if you charge a higher price to accommodate more people.

3. Subscriptions

The subscription model is typically utilized in online course marketplaces. In the example above, if you've developed a number of online classes but would prefer charging a monthly payment in order to allow others to access all of your lessons instead of charging per individual course. In this case, you could choose a subscription-based approach in this instance.

If the course is determined by a subscription model, people are likely to pay monthly basis. You can, however, charge annually if you'd prefer an annual lump-sum payment for many months.

The typical subscription model will be a low price however, if you combine it over a period of time, you could charge a higher cost, but with a discount. Your customers will be happy since they'll have access to all of your content which means you don't need to think about marketing the courses separately. The price tag will cover everything online that you offer on your site, which means you'll have more courses revenue overall.

4. Free

You might choose to create a free course if you're trying to sell something else and merely utilize it to drive more traffic to your website. The potential buyers will be thrilled by it because they won't need to pay for it so it will attract more people. Plus, the course value will increase since there's no cost associated the course, meaning lower risk for users.

The process of creating courses can consume long, using it as a marketing strategy is an everyday practice which can help increase the conversion rate.

Fortunately, allows you to charge your online course according to any of the above methods. If you're offering an inexpensive course to draw more prospective customers or using the subscription model for many courses, you'll be able to gain a considerable amount of cash using any method above. And remember, even courses for free will help to attract new clients. Thus, make sure to price your course accordingly.

Strategies to Enhance the The Value of Your Course

1. Build a Community

The creation of a private Facebook page for your students is an excellent way to stay connected with your students and enhance the effectiveness of your online courses. A community-based approach allows students to have genuine conversations between your students where they will be able to assist each other improve their skills.

2. Provide Coaching Opportunities in a 1:1 format

The do-at-your-own-pace online courses might not work for everyone. Sometimes students have additional concerns that are easier to answer during a live video call. When this happens, think about offering 1:1 coaching sessions with your students.

3. Bundle with Downloadables

4. Provide a Certificate of Completion

The Certificate of Completion can be a fantastic method to reward the students with a solid feeling of achievement. A certificate of completion can provide extra encouragement for students to dedicate the necessary work and time required to finish the entire course.

 FAQ

What is the cost of an online program?

The calculator is free that you can try out for pricing your online courses, as there are many aspects to consider when making the best price.

How much will it cost to promote an online course?

You'll need to factor marketing expenses into the cost of the course. If you have a pre-existing crowd, you could make use of your own name and your audience to advertise your course without cost. But, if it's your first class, you may spend thousands of dollars in promoting on social media, ads on Facebook, Facebook groups and much more.

What platform is best to sell online courses?