Creative daily

What is the cost of your Online Course (with Calculator) 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 price your online courses you've created.

Picking the right price can be difficult. It'll depend on numerous factors including the degree to which you offer your products on a marketplace or through your site how you'll go about it, a live course which lasts for several weeks, and several other factors.

However, there's a standard method of pricing the online course that we'll discuss in this post.

We'll also provide an easy calculator that can assist you to determine the best pricing for the item you're looking for.

Find links quickly to items we'll discuss:

The elements that affect the cost of the online course

1. Location where it's being hosted

There are many websites where you can create your online class, and each of those platform charges various rates that should be considered when calculating your costs.

It's possible to offer your online course through an online platform like Udemy or you can use an online platform for course creation that lets you run an online course from your own site.

If you host your website in an online marketplace you could be charged around 50% of the revenue. In addition, you're required to comply with the platform's Conditions of Service, promotional occasions, and much more. There is no control over how your course is priced in addition to the fact that you don't own the rights to your marketing data. That's why most instructors who design online courses prefer hosting the courses through their own website.

You can create an online course and make it available on your own website. They have an Free Forever program that requires an amount of 5% per sale. The customer's information will be yours to retain and you can determine the cost of your class, and your site becomes an asset that you control. With the aid of a web host You have the freedom to charge whatever amount you wish to charge for an online course and you won't need to compete in price battles with other instructors within the same marketplace.

In addition, it provides additional products and services, including the following options:

  • Bundle online course bundles with Digital downloads (e.g. ebooks, printables, etc)
  • Students can upload their lessons in various formats like questions or videos, text assignments, surveys embeds, or downloads
  • Marketing your online course by using the various marketing tools available such as coupons for affiliate programs, coupons and many other.
  • Create drip content that will let specific portions of your online course at the time you specify.
  • Provide your students with various payment options , including one-time costs and plans for payment, to subscriptions, and lots more.
  • Create customizable certificates of completion

2. Live Vs. Anytime

Pricing for online courses determines if it's live streamed, or whether you can complete the course anytime and on your own schedule.

Live-streamed courses need the instructor's presence. It is usually held during regular classes. It is a fantastic method to interact with students since students interact with them live in real-time. However, it could result in the need to spend extra time and resources teaching. This should be considered when pricing your courses. These types of courses can be priced higher at around $1,000.

Additionally, you can drip lessons using if you'd like to control the speed of your instruction. Drop classes allow you to guide your students to follow a predetermined plan and let courses go out in a set time. This keeps the students engaged and motivated as they will have definitive reasons to continue going back to the class.

A course online that is accessible anytime is typically costlier, however you could likely manage a higher volume of students. It isn't a problem to scale as your online course could be purchased by an unlimitable number of students. The classes that are taught at your own speed can cost anywhere from 10 and $500, based on the subject matter of the class.

3. The popularity of the subject

4. The Value of the Course

Are you an expert at teaching online classes? If you've been working in your profession for more than 10 years, your pricing will reflect that. If you're creating courses together in conjunction with experts, having the two of you working on your course may increase your courses' value.

In addition, if you're able to mark assignments, answer questions and more it will become more valuable. Take a look at the amount of time and effort involved in the program, not just creating it. Once the enrollment begins and it is completed, you can rate the course based on how much effort and the effort you put into it.

5. Competition

Find out about your competitors within your industry. We do not recommend setting the price solely on the price your competition is pricing. Instead, it is better to focus on a value-based price.

However, it's essential for you to understand the gaps in knowledge and expertise in the field you're in. If there's a dearth of experts in your area, then you'll likely be able to market your course online more effectively.

If you're operating in a competitive marketplace, remember that you're able to adapt the way you conduct business to certain areas, for instance, certain parts of the world and dialects that are specific to an individual population.

What Is the Average Cost of an Online Course?

Cost for an online class ranges from $100-$5,000.

100 dollars is typical in online marketplaces for courses such as Udemy, Skillshare, and others. The higher end of the spectrum is typically the cost for a class for subjects which help students start their careers.

It is possible to find a program for $5,000 that will teach you the basics of web development, marketing or other topics that allow you to earn money. In addition courses costing $5,000 includes assignments, certificates and even a live instructor. Therefore, the value that is perceived by the $5,000 cost is much higher than that you'd get from a course marketplace.

How do You Price An Online Course

We've already discussed the cost of your online course is contingent on several factors. If you're aiming at a different crowd or trying to gain new clients, the amount of profits you earn on your course may differ. If you're seeking an example of how to price the course in relation to your desired audience, try the free online calculator of course prices which we've compiled below to help you determine an exact price for your course as well as the you can expect to earn from that amount.

Online Course Pricing Calculator

The goal of course income is $1000
The estimated cost of course creation Cost: $
Your audience's size
Estimated Conversion Ratio ( percent)
Suggested Course Pricing

$ 0.00

High-end vs. Cheap

If you're planning to market your course, price points are a factor. Are you more likely to sell your course for more money, but and risk having lower numbers of students, or with an affordable price that will attract many students? Which one is more than the other in the end? Do you have a solution that will benefit the overall bottom line?

Sellers looking to sell premium prices may offer bonuses materials, such as ebooks, downloads, and access to Facebook group that is private to demonstrate the worth of the course that is more expensive.

If you're selling your course at a low cost there will be a need for a lot of students to make certain that your class is financially viable. Therefore, you'll have to figure out a method to bring students and other people naturally to your class. If you've found an opportunity to advertise your course for free This cost range could be the right one to run your course.

Be sure to think about your sales goals before pricing your online course. Consider the value you bring as well as the sum you want to earn in total revenue, as well as your cost of the product you make in addition to the price you are comfortable to charge. The people who know the art of selling themselves will be able to effectively promote their courses and provide premium prices.

Four tips to pricing strategy

1. A one-time fee

It's a very popular cost-cutting strategy when starting your initial online course. If your customers are prepared to only pay once, you'll be able to offer a cheaper cost overall since it's more affordable. It could mean that your class is just a couple hundred dollars at the most.

An extra cost doesn't make sense to pay a single fee since it's an enormous sum to charge on your credit card. Therefore, you should be thinking about the most expensive price for a one-time transaction of around $1000. In this price range, you'll be able earn passive income, meaning the course won't be an instructor-led class. It means that there will be several students who take your online classes regularly.

2. Payment Plans

Payment plans can be an ideal way to price your class, particularly if you're on the upper end of the spectrum ($1,000or more). Credit cards generally have restrictions meaning that, if the cost of the course is higher than the credit limit for a card A payment plan could aid in breaking the course into parts.

Most instructors offering payments plans to students who enroll in their online classes may be charged a cost for splitting costs into several installments to avoid the discomfort of the instructors as most users prefer to be paid once.

If you are charging for online courses you should consider offering a payment plan for if you're offering a more expensive price in order to accommodate more people.

3. Subscriptions

The subscription model is typically employed on course marketplaces online. In this case, for instance, you've developed a number of online courses , however you'd prefer to charge a monthly fee for people to get access to the entire course instead of charging for each individual course. In this case it's possible to choose an approach that is based on subscriptions in this instance.

If your class is based on subscription models the students pay for it on an ongoing basis. You can, however, charge annually if you'd prefer an annual lump-sum payment for numerous months.

It is typical for subscription models to be cheaper, however, if you combine it over a period of duration, you can choose to set a price higher and still offer a discounted price. Customers will be thrilled since they'll get access to everything that you have to offer and you don't need worry about advertising classes separately. Prices will cover all online learning available on your website, making it possible to generate higher revenues from your courses overall.

4. Free

It is possible to develop an unpaid course when you're trying to promote something new in order to use it to increase the number of visitors to your site. Customers who are interested in this idea will be happy because they will not have to pay for it so they will have more people taking the course. Furthermore, the cost of the course is higher because there's nothing to pay for the course, meaning lower risk for the user.

Though course development could be slow, using it as marketing techniques is common, and it can improve your conversion rates.

The good news is that it allows you to determine the cost for your online course employing any of the strategies above. If you're selling courses at a lower price in order to attract new students, or offering a subscription service to market many courses, you'll be able to make a significant amount of money using any method above. Be aware that even free courses can help draw new learners. So, it is important to rate your course according to the requirements of your target audience.

Ideas for increasing the Worth of Your Course

1. Create a community

The creation of a private Facebook page for students can be a great way to stay connected with students and enhance the effectiveness of online classes. The creation of a community facilitates the creation of genuine relationships among your students, where they will be able to help each other to improve their skills.

2. Coaches are able to be trained in one-on-one sessions.

The do-at-your-own-pace online courses might not be suitable for all. Students might have other questions that are easier to answer through a live video chat. When this happens, consider offering training sessions for your students.

3. Bundle of Downloadables, which includes

4. Provide a Certificate of Successful completion

A formal certificate of completion can be a fantastic way to award your students with an overwhelming satisfaction. An awarding certificate of completion can provide extra encouragement for students to dedicate the necessary time and effort to complete the entire program.

 FAQ

How do you price the cost of an online training course?

This calculator is completely free which you can use to calculate the price for your online training course since there are a lot of factors that go into determining the most affordable cost.

What are the advantages of using advertise an online class?

It is important to include marketing expenses into the course price. If you already have a public, you may make use of your own brand and the audience you have to advertise your course for free. But, if it's your first time offering it's possible to spend several thousand dollars on social media, advertising on Facebook, Facebook groups and numerous other ways.

What is the most efficient method for selling online courses?

This post was first seen on here