How to Price Your Online Course for 2024

How to Price Your Online Course Featured Image

Creating an online course can be a lucrative business when done right and when created with the best online course platform. You might think that the last part of creating an online course is choosing how much to charge. I’d suggest you actually think about it at the same time you create an outline for your online course because the more content you create, the higher price you can ask for.

When pricing your online course, it’s important to consider a few different factors. You’ll need to think about the cost of producing the course, how much you need to recoup in order to make a profit, and what the market will bear.

You’ll also want to take into account the competition. If there are other courses out there that are similar to yours, you’ll need to price your course accordingly. You’ll need to decide what format (video, audio, or text) you’d like to offer your course.

All of these factors can influence the price of your course. So before setting a price, research and ensure you’re charging what your online course is worth.

Think and Plan Well

How to Price Your Online Course Think Before

Take time to think about the pricing of your online courses. It’s really important to find a correct price that will leave you with healthy margins. This will allow you to market your online course with past earnings.

Think about who you are in the eyes of the customer and what you have to offer. Are you an expert in a field? Do you teach a skill that could earn your student tons of money?

You don’t want to go too low, as this can devalue your product and hurt your business in the long run. Be confident with your pricing. You should figure out what other online course creators are charging and get their ideas of pricing before making a decision. There is no one perfect answer when it comes to pricing but aim to always beat your competition with the amount of quality content.

Keep in mind that your prices should be based on the value you’re providing and the results your students can expect to see. If you’re offering a high-quality course that will deliver real results, then you can charge a premium price. But if you’re just starting out or your course isn’t as comprehensive, then you’ll need to lower your

What Are the Different Pricing Structures for an Online Course?

There are a few different pricing structures for online courses. One is to charge a flat fee for the entire course. Another is to charge a subscription fee for monthly access to a course. A third option is to offer the course for free, with the hope that participants will purchase additional products or services from the creator. Each pricing structure has its own advantages and disadvantages.

Three pricing structures for an online course:

  • Flat fee (with split payment option)
  • Subscription fee
  • Free course

Charging a flat fee for an online course can be beneficial because it allows students to know exactly what they are paying for. It can also make it easier for students to budget their money. However, this pricing structure can also be disadvantageous because it may be more expensive than other options. A flat fee can also be split into multiple payments over time.

Charging a subscription fee for each module or lesson can be advantageous because it allows you to charge a lower price. It can also make it easier for students to budget their money. However, this pricing structure can also be disadvantageous because it needs new content constantly to keep subscribers subscribed.

How to Ultimately Choose the Price for Your Online Course

How to Price Your Online Course Choose Price

Ok, so how on earth do I find a price that is both fair and profitable? According to Teachable’s study, the average price of an online course is $120. However, many online course creators seem to be charging around $297 for an online course. This price is high enough to ensure that you are making a good profit, but it is also low enough that many people will be willing to buy it.

So if you just want to get started selling quickly, price your course to $297! You can later go up or down based on the sales.

Another thing to keep in mind when setting your price is the offer you are giving your customers. If you are offering a bonus or a discount for buying your course, be sure to include that in the price. For example, if you are offering a $100 bonus for buying your course, then you should charge $397 instead of $297. This will ensure that you make the most money possible from each sale.

A quick checklist for different pricing ranges:

  • $0 (free): If you just need to get the word out and then turn on the pricing for later customers or upsell another course.
  • $27: Your course is short in length or is aimed toward hobbyists that won’t make money with the skills learned from the course. For example fitness guide, stretching course, or a home cooking class can be sold in this price park.
  • $297: This price range sells well in the industries where students are able to use the skills to sell something or get a job. For example, graphic design courses or social media author courses are great topics in this price range.
  • $997: Courses aimed at businesses or heavy self-development drop into this price range. People are willing to pay pretty crazy money if they can use it to make a lot of money. Courses in this price range normally include membership for students so they can deeply learn from the teacher and others. Coding courses are great examples that could fall into this price range.

Use our online course pricing calculator to get a quick starting point for your course price.

Examples of online course pricing:

Benefits of Selling at a Lower Price

When to sell your online course for a low price?

Many online course creators believe that there is no ideal time to sell their courses for a low price. However, there are a few times when it may be more advantageous to do so.

One time to sell your course for a low price is when you are just starting out and have yet to build up a following. Offering your course at a lower price can help you attract new students and grow your business.

Another time to sell your course for a low price is when you are facing competition from other courses in your field. In this case, you may need to offer your course at a lower price in order to attract students.

Ultimately, the decision of whether or not to sell your online course for a low price is up to you. However, consider the factors mentioned above before making your decision.

Benefits of Selling at a Higher Price

Some online course creators choose to price their courses high in order to reap the most benefits. Here are some of the advantages of doing so:

1. You’ll attract a more premium audience.

2. You’ll make more money per student.

3. You’ll have fewer students, but they’ll be more committed and engaged.

4. Your course will be seen as more valuable.

All of these factors may benefit you in the long run and can help you create a more successful online course.

Benefits of Giving Away Your Course for Free

There are also some benefits of giving your online course for free. For one, it allows you to reach a larger audience. By making your course free, you’re opening up the door to people who may not have been able to afford it otherwise.

Free courses can help you build a following of students who are interested in what you have to offer. This can be beneficial in terms of future sales and marketing opportunities.

When you give away your course for free, you’re providing a valuable service to the community. You’re teaching people new skills and helping them improve their lives. This is a very admirable thing to do, and it can be very rewarding for both you and your students.

Should You Use Discounts and Promotion

How to Price Your Online Course Discount

When it comes to discounts and promotions for your online course, everybody has their own opinion. Some course creators believe that offering discounts and promotions can be a great way to attract new students, while others believe that it can devalue their courses. Ultimately, the decision comes down to what you feel is best for your business. Don’t listen to anybody else.

If you do decide to offer discounts and promotions, make sure that you do so in a way that is fair to both you and your students. For example, you could offer a discount for early registration or for signing up for multiple courses. You could also offer a discount for referrals or for completing the course in a certain amount of time. Whatever you decide, be sure to communicate the terms of the discount clearly to your students.

How to Change Your Prices Over Time

How to Price Your Online Course Change Price

It’s important to be able to adjust your online course price as needed when you have more data. For example, if you’re finding that you’re not making as much money as you’d like, then you may want to consider raising the price of your courses. If the business is going well, then you may want to stick with what’s working. If the sales aren’t coming in, then you need to see if the problem is with the course, marketing, industry, or price.

Remember that you’ll want to make sure that the price is competitive enough that people will be interested in buying them, but also high enough that you’re making a decent profit. You’ll also want to take into account the cost of producing your courses. Any cost can raise over time and you might have to raise the price also.

You can always change your prices over time, depending on what’s working best for you. So if you find that you need to lower or raise the price of your courses, don’t be afraid to do so.

How to Price Your Online Course (Conclusion)

Pricing your online course is one of the most important decisions you will make. It should be done around the same time you create your course outline. You want to find a price that both covers your costs and provides value to your students.

Remember to price high enough to give yourself a chance for wild success.

I’ve provided some tips in this article on how to find that sweet spot, but remember that it may take some experimentation to get it right.

What pricing strategy are you going to try first? Share with me in the comments 🙂

Mats-Peter Forss

Mats-Peter Forss is a full-time website tycoon and digital product creator with years of experience in different software products. Along with writing to forssinc.com, Mats-Peter is running multiple different websites and selling digital products (vectors, fonts, and logo templates).

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