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How to Price Your Online Course (with Calculator) How to Price Your Online Course (with Calculator)

Aug 11, 2022

It's been a long, laborious work in designing your own online course, but now you're ready to price the your online course you've designed.

The right price for your business can be difficult. There are many variables to consider, such as the type of product you're selling on marketplace or on your own site, whether it's a go-at-your-own-pace or a live class which lasts for a few weeks as well as many other factors.

But, there's the standard procedure for pricing your online course, which will be discussed in the following article.

We'll also provide an online calculator that can assist you in determining the most suitable pricing for the item you want.

Find links quickly to items we'll discuss:

Price factors for an Online Course

1. Where it's hosted

There are many locations where you could host your online course and each of those platforms has different rates should be considered in your expenses.

You can host your online course through a marketplace such as Udemy or an online course builder that lets you host an online course through your own site.

When hosting on an online marketplace, you could receive a 50% per cent of the revenue. Also, you're subject to their Conditions of Service, promotional events, and more. You won't have full control over pricing your course and won't be able to control your marketing data. The reason is that most instructors who create online courses prefer hosting their courses on their own website.

You could run your online course from your own site. The site offers an Free Forever plan that only costs an amount of 5% per transaction. The customer's information will remain yours and set the price for your course, and your website will remain your own asset. With the help of a host, you are able to set the price you like for an online course, and you do not have to compete in price wars with instructors in the same market.

In addition, offers other products and services, including options for:

  • Bundle online courses with electronic downloads (e.g. ebooks, printables, etc)
  • Upload lessons in multiple formats, including video, quizzes, text assignment, surveys embedded files, downloads or quizzes
  • Sell your online courses with  its variety of marketing tools like affiliate programs coupons, coupon codes, and more
  • Create drip content that will release certain sections of your online course at an established rate
  • Offer your students a variety of payment options from one-time-fee or payment plans, subscriptions, and more
  • Create customizable certificates of completion

2. Live vs. Anytime

The price of online courses depends on whether or not the course is live or whether you can do the course at any time, as well at your personal speed.

Live courses require the instructor's presence and usually takes place as sessions that are scheduled for weekly. This is an amazing way to engage with students since it allows you to communicate with them in real-time. But, it can also mean that you need devote more resources into teaching and you should take this into consideration when pricing your classes. These types of courses can be priced higher at around $1,000.

Alternatively, you can drip lessons using if you'd like to control the rate of instruction. The drip lessons let you guide your students in a planned way, where you can release courses at a set time. This keeps your students motivated and enthusiastic as they have definitive reasons to continue going back to the class.

An online course that can be started and taken anytime will typically be priced lower but you can likely manage an increased number of students. You won't struggle with scalability since your online course is able to be purchased by an unlimited number of people. Courses that are set to go at your own pace might be priced anywhere from $10 to $500, depending on the content of the class.

3. Popularity of Topic

4. Benefits of Your Course

What is it that makes you an expert at teaching online classes? If you've been in the field for more than a decade, your course pricing ought to reflect that. If you're co-creating courses with experts, the two of you working together on a course could boost the value of your course.

In addition, if you're able to grade assignments, answer questions, etc, the course will also provide more value. So think about how much effort goes into the course. It's not just about creating it but once the enrollment begins and you'll be able to determine the cost based on the time you put in and effort.

5. Concurrence

Study your competition in your field. We do not recommend setting the price solely on what your competitors are offering. Instead, you should be focusing on cost-based pricing.

That said, it's important that you understand the scarcity of knowledge within your particular field. If there is a scarcity of specialists in your field it is likely that you'll be able to price the online course more.

If you're in a highly competitive market keep in mind that you may modify your training specifically to niches. For examples, regions in the world, specific dialects, or a specific population and so on.

What's the Cost Average of An Online Course?

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

100 dollars is typical on course marketplaces online like Udemy, Skillshare, and so on. However, the higher-end of the spectrum is typically an average price for courses which help students begin their careers.

It is possible to locate the $5,000 course which teaches your marketing, web development, or another subject which allows you to make money. Also, typically a $5,000 course will have the opportunity to earn certificates, assignments, and instructors who live. So the perceived value of that $5,000 price is a lot higher than the price you'd see in a marketplace for courses.

How do You Price An Online Course

The price for your online course depends on various variables. If you're targeting a new audience or hoping to get many more clients, the amount of sales you generate through your course may differ. If you're looking for an example of how you can price your course to your target audience, test the no-cost price calculator for courses online that we've put together below to help you know an exact example of how is the appropriate price for your course as well as the amount of sales you will generate from that cost.

Online Course Pricing Calculator

Course Income Scope             $    
Estimated Cost of Course Creation             $    
The size of your audience
Estimated Conversion Rate (%)
Suggested Course Pricing

$ 0.00

The Premium Price vs the Affordable Price

When it's time to sell your class, the price point matter. Are you more inclined to sell at a premium price at the risk of fewer students, or at a more affordable cost with greater number of students? Which price point is worth an overall greater return? Is there an option that will benefit your bottom line?

People who wish to market at premium prices might include bonus material, like eBooks and digital downloads, access to an exclusive Facebook group, to demonstrate how valuable the higher priced course.

If you're offering a reasonable price, you'll need many students to ensure your class is profitable. This means you'll need locate a method of attracting clients and a large number of online students to your course organically. If you know where to promote your course at no cost the price might be the right one to you.

Think about your revenue goals before pricing your online course. Think about the value that you can bring, how much you want to make in sales overall, the cost of what you produce, as well as the prices you feel good to charge. People who understand how to sell themselves will be able to promote their course effectively and will be able to charge high prices.

Four Tips to Pricing Strategy

1. A one-time fee

A one-time fee is popular price strategy when you're starting your first online course. If you can convince people to only pay once, you'll get a better cost overall because of the affordability. Therefore, your tuition could be only a few hundred dollars or so.

The price of a premium isn't a good idea for an one-time charge since it could be quite a large amount to charge their credit card. You should therefore think about the maximum price for a one-time fee of around $1000. Typically, for this price range, you'll be able to make money passively which means it's not an instruction live course. This means that you'll be able to have many students who are taking your online course regularly.

2. Payment Plans

Payment plans are the best option when it comes pricing your course, especially if you're on the upper end of the range ($1,000+). Credit cards typically have limitations therefore if a tuition cost is more than the limits of a credit card A payment plan could help them break it down into chunks.

Most often, instructors who offer payments for their online courses are in a position to charge a fee for dividing the cost into multiple installments to avoid the discomfort of the creator of the course, as the majority of people would prefer to pay in one lump sum.

If you are charging for an online course, consider a payment plan if you charge a higher cost to allow for more students.

3. Subscriptions

The subscription model is typically employed in online course marketplaces. If, for instance, you've developed a number of online courses , but you'd rather charge a monthly subscription to help others gain access to all your courses instead of charging per course. You could opt for the subscription system in this scenario.

If your program is built on an arrangement for subscriptions, customers are likely to pay monthly subscription. However, you can also set up a monthly charge if you'd like a lump-sum for several months.

A subscription-based model is likely to come with a reasonable cost, but if you bundle it into a year it is possible to charge a premium cost with a small discount. You'll make people happy because they'll have access to every piece of content you have as well as not having to worry about promoting individual courses. The price tag will cover everything online that you offer on your site, which means you'll have more courses sales overall.

4. Free

It is possible to develop a free course if you're trying sell something different and then utilize it to drive more customers to your website. The potential buyers will be thrilled by the course because they don't have to buy it. This means that there will be more learners. Furthermore, the cost of the course is higher because there's nothing to pay for it, so lower risk for users.

The process of creating courses can consume a lot of time, using it as marketing strategies is commonplace, which can help increase the conversion rate.

The good news is that you can set the price of your online course by using any of the methods above. So whether you're selling an inexpensive course in order to attract more customers or using the subscription model for multiple courses, you can earn a substantial sum of money by using one method above. Remember, even courses for free will help attract new students. Thus, make sure to set the price accordingly.

Tips to Increase value of your course

1. Build A Community

Setting up a private Facebook group to your students can be a fantastic way to stay connected with them and increase the value of your online course. Building a community allows the creation of genuine relationships between students so that they are able to help one another grow.

2. Provide Coaching Opportunities in a 1:1 format

The do-at-your-own-pace online courses might not be appropriate for everyone. There are times when students have issues that can be much more easily to be addressed during a live video call. When this happens, think about offering 1:1 coaching sessions with your students.

3. Bundle of Downloadables and Bundle

4. Offer Certification of the successful completion

An official certificate of completion can be a fantastic method to reward your students with a sense of accomplishment. Offering a completion certificate can give students a boost of motivation to dedicate the necessary time and effort to complete all of the course.

 FAQ

How do you price the cost of an online course?

The calculator is free which you are able to test to price your online course since there are numerous elements involved in making the best price.

How much does it take to advertise an online class?

It is important to include marketing expenses into the cost of the course. If you have a pre-existing public, you may use your personal image and followers to market your course at no cost. But, if it's your first class that you are offering, it could cost you a few thousand dollars promoting through social media, advertisements, Facebook groups, and much more.

Which platform is the best one for online course sales?