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How to Price Your Online Course (with Calculator) -

Aug 11, 2022

You've done all the laborious work in developing your online course, but now it's time to start pricing your online course you've designed.

The right price for your business can be difficult. It'll depend on numerous factors including whether you sell on a marketplace or through your website or if it's go-at-your-own-speed or a live course with a duration of several weeks and many more variables.

But, there's a common practice for the pricing of the online course that we'll cover in this article.

In addition, we'll provide an online calculator that can assist you in determining the most suitable cost for the product you need.

Find links quickly to items we'll discuss:

Factors for Pricing An Online Course

1. Where it's hosted

There are several sites where you can run your online courses and each sites has their own fees that you need to consider including to your cost.

It is possible to host your course in a marketplace, such as Udemy or you can use an online course creator like to host an online course on your personal website.

If you host on a marketplace, you may be charged a 50 percent of your earnings. Also, you're subject to the platform's Terms of Service, promotional occasions, and much more. You won't have full control over the price of your course and you won't own your marketing data. That's why most instructors who create online courses prefer hosting their course on their own site.

You could host your online course on your website. There is an Free Forever plan that only requires an amount of 5% per sale. Your customer's data will be yours to keep you can set your own prices for your course and your website will be an asset that you control. With the help of a host, you can set the price you prefer for your online class, and you don't have to engage in price-wars with other instructors on the same platform.

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

  • Bundle online course bundles with electronic downloads (e.g. ebooks, printables, etc)
  • Upload lessons in multiple formats, such as video, quizzes, text, assignments, surveys, embeds, or downloads
  • Promote your courses online using  its variety of marketing tools like affiliate programs Coupon codes, coupons and many more.
  • Make use of drip content to make portions of the online course a set pace
  • Offer your students a variety of payment options , including one-time fees and payment plans, to subscriptions, and many more.
  • Offer customizable certificates of accomplishment

2. Live vs. Anytime

The cost of your online course varies depending on whether or not the course is live or when you're able to complete the course anytime, as well at your personal pace.

Live courses require an instructor to be present and usually takes place in regular classes. It is a fantastic way to engage your students because students interact with them live in real time. But, it is also a requirement to dedicate way more resources to teaching, and you must be aware of this in the pricing of your courses. These types of courses are priced more expensively within the range of $1,000+.

Alternately, you could drip lessons using the option of controlling the speed of your lessons. Drip lessons allow you to instruct your students in an organized method, and allow you to let courses go out at a predetermined time. This keeps your students motivated and engaged as they will find a solid reason to keep coming back to your course.

Online courses that are able to be started and taken anytime generally will be less expensive but you can likely manage more students. You won't struggle with scalability as your online course can be bought by an unlimitable number of people. The courses that take place at your own rate can be priced from $1 to $500 according to the contents of the class.

3. Popularity of Topic

4. The Value of the Course

What is it that makes you an expert to teach online courses? If you've been working in your field for more than a 10 years, your pricing should reflect that. If you create courses in conjunction with experts, the two of you collaborating in a particular project can boost the value of your course.

Additionally, if you're available to grade assignments, answer questions, etc, the course will also become more useful. So think about how much time and effort is required to create the course, beyond just the creation of it. Once enrollment starts as well to be able to price it based on your time and effort.

5. Competition

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

However, it's essential that you understand the lack of expertise within your particular field. If there's a dearth of specialists in your field, you will most likely have the ability to sell the online course more.

If you're in a highly competitive marketplace be aware that you could adapt your course to specific niches, for examples, regions in the globe, certain dialects, or a specific population and so on.

What is the average cost for an online course?

The cost for an online course ranges between $100-$5,000.

The course cost of $100 is standard in online marketplaces for courses such as Udemy, Skillshare, and such. However, the higher-end of the range is generally the cost of a course for subjects that can help individuals begin their career.

It is possible to locate a $5,000 course that teaches your the basics of web development, marketing or another subject which allows you to make cash. Additionally, usually a five-figure course includes assignments, certifications, and a live instructor. Therefore, the value that is perceived by that $5,000 price is much higher than what you'd find in a marketplace for courses.

How do You Price An Online Course

The price for your online course depends on various factors. If you're targeting a new market or are hoping to gain many more clients, the amount of results you get for your course can vary. If you're in need of an example of how you can charge your course in relation to the people who will be attending, use the online course pricing calculator which we've provided below, to provide you with an exact example of how is the appropriate price for your course and what sales will generate from that cost.

Online Course Pricing Calculator

Course Income Goal             $    
The estimated cost of course creation             $    
Your Audience Size
Expected Conversion Rate (%)
Suggested Course Pricing

$ 0.00

Premium Vs Affordable Price

If you're ready to sell your course, price points matter. Are you more inclined to sell for a higher price with the risk of having fewer students, or at a more affordable cost with greater number of students? What price range is of an overall greater return? Is there an alternative that is better for the bottom line?

Sellers who want to offer higher prices may include additional content, such as eBooks and digital downloads or access to a private Facebook group that can help demonstrate that the course is worth the extra priced course.

If you're selling your course at a low price, you'll need many students in order to make sure your course is profitable. So, you'll need to discover a method to draw customers and many online learners to your online course naturally. If you are aware of where you can market your course for free This price range could be a good fit to you.

Think about your revenue goals prior to pricing your course online. Think about the value that you can bring, how much you want to make in sales overall, the cost of what you make, and finally, the prices you feel good with charging. Creatives who are able to promote themselves are successful in marketing their work efficiently and offer premium pricing.

4 Tips for Pricing Strategy

1. A one-time fee

The one-time payment is a common price strategy when you're starting your first online course. If people are willing to pay one-time you'll likely have a lower cost overall because of the affordability. So maybe your course is just a couple hundred dollars or so.

The price of a premium does not make sense as an one-time charge since it can be a lot for someone to add to your credit card. So you'll want to be thinking about the most expensive price for a one-time fee being around $1,000. In general, in this bracket, you'll be able to earn income passively, meaning it won't be an instruction live course. Therefore, you'll be able to have many students who are taking the online course on a regular basis.

2. Payment Plans

A payment plan is the best option when it comes to price your course if you're on the upper end of the scale ($1,000or more). Credit cards often have limits therefore if a course price goes beyond the limit of someone's credit card A payment plan could assist in breaking it down into chunks.

Often, those who charge installment plans to pay for an online course can charge a fee for dividing the price into multiple payments in order to inconvenience instructors, because most people prefer being paid only once.

When you're charging for your online course you should consider using a payment plan when you have a more expensive amount to be able to serve more customers.

3. Subscriptions

Subscription models are typically utilized for online course marketplaces. If, for instance, you've developed a number of online classes but would prefer to charge a monthly fee in order to allow others to get access to your entire curriculum instead of charging per individual course. In this case, you could choose an underlying subscription model in this case.

If the cost of the course is determined by a subscription model, people would pay for it on a monthly basis. But, you may also offer a year-long payment if you prefer to pay a lump sum for a period of time.

A subscription-based model is likely to come with a reasonable cost however, if you combine the subscription into a calendar year, you could charge a higher cost with a small discount. You'll make people happy because they'll have access to everything you've got to offer as well as not having to promote the courses separately. Price will be inclusive of everything online through your site, meaning you'll have more courses revenue overall.

4. Free

You might choose to create your own free course, if you're trying to sell some other product and use it to bring more visitors to your site. Your potential customers will love the course because they don't have to buy it. This means that it will attract more people. Plus, the course value will be higher since there's no expense associated with it, so lower risk for users.

While course creation can take some time but using it for an effective marketing method is commonplace, and it can improve your conversion rates.

It is a good thing that it allows you to charge your online course according to one of these methods. This means that whether you're selling an inexpensive course in order to attract more students or charging a subscription model to sell several courses, you could make a significant amount of cash using any of these methods. Don't forget that even free courses can help attract new students. Therefore, you should set the price accordingly.

Strategies to Enhance the The Value of Your Course

1. Develop A Community

Creating a private Facebook group to your students is an excellent method to keep in touch with your students and enhance the effectiveness of your online course. The creation of a community can allow the creation of genuine relationships between your students where they will be able to assist each other grow.

2. Provide Coaching Opportunities in a 1:1 format

Do-at-your-own-pace courses may not be appropriate for everyone. Students may have additional issues that can be much more easily to address via a video chat. In these cases, consider offering 1:1 coaching sessions with your students.

3. Bundle of Downloadables and Bundle

4. Provide a Certificate of Successful Completion

The Certificate of Completion can be a fantastic method to reward your students with a strong sense of accomplishment. Offering a completion certificate can be a great way to encourage students to invest the time and effort to complete the whole course.

 FAQ

How can you determine the price of the cost of an online course?

We've created a free calculator which you are able to test to estimate the cost of your online course, as there are many factors involved with coming up with the right price.

What is the cost to promote an online class?

You'll need to factor the cost of marketing into your pricing. If you have a pre-existing audience, you can use your personal brand and audience to promote your course without cost. If this is your first class that you are offering, it could cost you several thousand dollars to promote on social media, ads on Facebook, Facebook groups and many more.

What platform is best for online course sales?