Creative Hosting News

How do you price Your Online Course (with Calculator) What is the cost of your Online Course (including Calculator)

Aug 11, 2022

You've done all the effort of developing the online courses you've created. It's time to start pricing the online course that you've developed.

The best deal can be a challenge. There are many variables to take into consideration, including the kind of merchandise you're selling through marketplace or through your own site or it's go-at-your-own-speed or a live-course which lasts for a long time, and many more elements.

But, there's an established method to charge for the online class which we'll discuss in this piece.

We'll also provide a free calculator to aid you in finding the right pricing for your product.

Find quick links to things we'll talk about:

The elements that affect the price for an online Course

1. Location where it's being hosted

There are a few sites that allow you to create an online class, and each one of them has its own costs that must be taken into consideration to your cost.

You can offer an online course on marketplaces like Udemy or an online course creator such as a course builder to build an online course for your site.

If you manage a website or online marketplace, you might receive around 50% of your profits. In addition, you're required to comply with their Terms of Service, promotions as well as other conditions. It is not your responsibility to control the price of your course in addition to the fact that you don't own the marketing information you collect. That's why the majority of instructors that create online courses would rather host their classes on their own sites.

The site allows you to design an online course and host the course on your website. It has a Free Forever program that requires a 5% transaction fee per transaction. Your customer's data will be yours to retain and you can determine the cost of the course. Your website is a resource that is yours to manage. If you're using an online hosting provider it will allow you to set the price you prefer for your online class. You also aren't required to engage in price fights against other instructors on the same market.

In addition, it provides additional services , including options for:

  • Bundle Online Course Bundles with digital downloads (e.g. ebooks, printables, etc)
  • Students can upload their lessons in various formats like texts, video, quizzes assignments, survey embedded files as well as downloads and quizzes.
  • Promote your online courses by selling the variety of tools for marketing including coupons, affiliate programs, and many more.
  • Make use of drip content to make available portions of the online course at a set pace
  • Give your students a range of payment options , from one-time fees and payment plans, to subscriptions and much more.
  • Make customizable certificates of completion

2. Live vs. Anytime

The price of an online class varies depending on whether or not the course is in ongoing or whether you are able to take the course anytime as well as in your own way.

Live courses require instructors to be present and is often done during sessions which run every week. It is a fantastic opportunity to interact your students since you are able to communicate with students in real-time. However, this is also an opportunity to invest more time and effort into teaching and you should be cognizant of this when pricing your classes. These courses are higher at about $1,000.

You can also make drip lessons available if you'd like to control the pace of instruction. The drip lessons let you teach students in a pre-planned way, where you can provide courses at a particular rate. It keeps students interested and interested as they find an incentive to keep returning to the course.

Online courses that are easily accessible and can be used at any time, is typically cheaper, but you will most likely handle an increase of students. It isn't a problem to scale because your online class is designed to be used by a variety of students. The classes that run at your own rate might be priced anywhere between $10-$500, according to the contents of the course.

3. The popularity of a topic

4. The value of the course

What qualifies you as professional to lead online courses? If you've been as a professional for a decade or more and your pricing for your courses must be reflective of this. If you create courses collaboration with experts The possibility of working together on a course can boost the value of your course.

If you're also able to grade assignments, answer queries and much more, the course can become more useful. Think about how much time and effort is required to create the course. The course isn't only about the creation of it. Once it's in place and you can evaluate it in relation to the effort you've put into it and the effort.

5. Concurrence

Find out about your competitors in your field. Don't set the price solely on what your competitor has to offer. Instead, concentrate on value-based pricing.

However, it's vital that you recognize the lack of information within your particular field. If you're looking to fill a gap in the number of experts in your field it is probable that you'll have the capacity to market your online training in a greater way.

If you're operating in a competition-driven market, remember that you can still design the courses you offer to certain areas, for examples, areas around the globe, specific dialects, or specific demographics or populations or demographics, for example.

What's the Cost Average of An Online Course?

The cost of an online course ranges from $100-$5,000.

The course cost of $100 is common on online course marketplaces like Udemy, Skillshare, and similar. The higher end of the spectrum is typically the cost of a course to help individuals begin their career.

There is a possibility of finding an online course for $5,000 that will teach the basics of the basics of web development, marketing or any other subject that allows people to make profits. Additionally, a typical course which costs $5,000 includes work, certifications, and an instructor who is live. So the perceived value of the price of $5,000 could be more than one would find on a marketplace for classes.

How do You Price An Online Course

The price of your online course is contingent on various variables. If you're trying to appeal to more people or hoping to gain more customers your profits from your class may be different. If you're looking for some guidelines on the best way to price your course to reach your intended market, check out the no-cost cost calculator for online courses which we've compiled below for you to get an exact example of how is the appropriate cost for your course and how much revenue you can earn through that expense.

Online Course Pricing Calculator

Course Incentive Scope $
Estimated Cost of Course Creation $
Your audience's size
Estimated Conversion Ratio ( percent)
Suggested Course Pricing

$ 0.00

The Highest Price vs. Affordable Price

If it's the time to market your course, price points have a bearing. Would you rather offer your course for sale for a higher price with an increased risk for less students, or at lower cost and will attract more students? Which is the one that will yield more profitable option? Is there an alternative that is better for your goals in terms of finances?

People who wish to market at high prices could include bonuses content, such as eBooks or digital downloads, as well as access to a Facebook group that is exclusive in order to show that the value of the course is justified by paying for the course.

If you're charging an affordable cost, you'll require a lot of students in order to make sure your classes are successful. This means that you'll need find a way to attract customers and many online learners to your online course naturally. If you know where to promote your course no cost, this price might be the right one for your needs.

Think about your revenue goals before determining the price of online courses. Take into consideration the value you can bring, how much you'd like to earn on sales in all and also your course's price you produce in addition to your own price range that you feel confident about pricing. Creatives that are able to market themselves can promote their course well and offer premium pricing.

Four Tips to Pricing Strategy

1. A one-time fee

A one-time payment is an accepted method of payment for the first online course. If you are able to convince them to pay one-time you'll likely be able to offer an overall lower price since it's cost-effective. So maybe your course is only a few hundred dollars at most.

An extra cost does not make sense as a one-time cost since it's an enormous sum to be charged on their credit card. Therefore, you should be thinking about the most expensive sum for one-time charges of about $1,000. For the most part, within this price range, you'll be able to make money passively that is, this isn't a live instruction course. This means that you'll be able to get a lot of people taking your online class on a regular basis.

2. Payment Plans

Payment plans are a great alternative costing your college course, especially when it's on the high end of the scale ($1,000plus). Credit cards usually have limits which means that if the costs of the tuition exceed the maximum amount allowed by a credit card A payment plan could help in breaking the cost down into pieces.

The majority of organizations that provide installment plans to pay for an online course may make charges for the dispersal of the fee into many installments for the inconvenience of the course creator, since the majority of people prefer to pay for only one time.

If you charge for online classes think about a payment option when you're charging a larger amount to be able to serve more customers.

3. Subscriptions

Subscription models are typically utilized for online course marketplaces. In the case, for example, you've designed a series of online courses , however you'd prefer charging the cost of a monthly subscription in order to let users have access to all of your courses instead of charging for each course, you might choose the subscription option in this situation.

If the expense of your course is calculated by subscription models, students will pay in installments. It is possible to offer a year-long payment if you would prefer to make in one lump sum over a period of time.

The typical subscription will be a low price however when you bundle the subscription with an annual calendar you can offer a higher cost but with a discount. You'll make people happy because they'll have access to all the content available, as well as not needing to think about promoting the courses separately. The price you pay for will cover the complete online educational content available through your site which means you'll be able to generate greater revenue from your courses all-in.

4. Free

You can create your own free online course if you're trying to sell some other product and utilize the course to bring more customers to your site. The potential buyers will be thrilled by it since they will not have to purchase it, so it's likely to draw more customers. Furthermore, the worth of the course is greater since it's not a cost for this, meaning lesser risk for the customer.

The course design process can take some time however making it an approach to marketing is a common practice, which can help increase the rate of conversion.

It's a good thing that you can charge the online course using any of the methods above. Therefore, whether you're selling your courses at a lower price to draw more students or charging the subscription model for several courses, you'll be able to gain a considerable sum of money by making use of one of these strategies. Remember, free classes can be a great way to draw new learners. So, price your course accordingly.

Strategies to Enhance the The value of your course

1. Develop a Community

The creation of a Facebook private class page for your students is a fantastic option to remain in contact with them  and increase the value of your online course. The creation of a community can allow you to build real-time interactions with your students. They will be capable of helping each other develop.

2. Offer 1:1 Coaching Opportunity

The online courses that permit students to work at their personal pace could not be suitable for all. There are times when students have issues that are more straightforward to discuss during a live video call. In these cases, consider providing individual coaching sessions in a one-to-one basis for your students.

3. Bundle with Downloadables

4. Accredit the successful completion

A formal certificate of completion is a great option to present your students with a strong sense of accomplishment. An official certificate of completion could be a great incentive for students to invest the amount of time and effort required to complete the whole course.

 FAQ

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

This calculator is completely free and can be used to calculate the price of the online class, since there are many variables involved with making the best cost.

How much will it cost you to promote an online class?

It is important to include marketing costs into your course price. If you already have a group of students, you may use your personal brand and your audience for promoting your course with no costs. However, if this is your first class you are offering, it could cost you thousands of dollars in promoting on social media, ads facebook groups, and more.

What is the most effective platform for selling online courses?

Article was posted on here