My bet is that you’re probably wondering how much you should charge for your course.
If you have followed the steps in this course then you would have made a valuable course for your audience, so you should charge accordingly.
I’ll explain how to set a price of an online course that falls into a sweet spot that makes it affordable for the audience, yet still lucrative for the course creator.
How To Set The Price Of An Online Course
The price of an online course is not based on how long the course is or how many videos or workbooks you have, or the size of the community you have set up.
Instead, it’s based on enabling your students to achieve their objective. If you have saved them time, money or enabled them to make a life change then there is real value.
So if you saved them thousand of dollars or hundreds of hours it would be feasible to charge hundreds of dollars for your course.
Similarly, if your course enables a life change so they can get promoted in their job or they become more satisfied with their life, then once again you can probably charge hundreds of dollars.
This is called value-based pricing, and it works. In fact, it’s the same strategy that the team that created BloggingTips has effectively used to price their agency services at Trendline SEO.
Finding the Price Point “Sweet Spot”
As an indication you can check out competitors pricing to see what people could be paying. You don’t need to undercut on price though, you just need to offer more value.
You might be tempted to go in cheap and undervalue your course to get more sales. However, pricing like this is a huge mistake and can actually hinder your sales.
You see, the price alone can even give your course a “perceived” value. A higher price course can actually lead to more sales.
If you had 2 courses and one was $50 and the other was $500, without knowing any other information which one would you think was better? Most people would probably answer the $500 because they’re charging more.
Paying a higher price will also mean a student will be more attachment to the outcome. Students paying a higher price are more likely to fully participate and complete your course.
You may even find that it makes sense to offer tiered pricing options for different value offerings.
For example you may add a more expensive VIP course option which has exclusive content and more access to your time with one on one coaching.
Keep in mind, though, if you choose to share your course on a marketplace (versus a self-hosted platform) your price will be controlled somewhat.
If you are self hosting then you’ll have the freedom to charge what you choose.
Summary
I obviously can’t tell you exactly how much your course should be, but I can tell you that you can probably charge more than you think.
- If your primary goal is to build a following with your course then make it free or in exchange for their email address or subscription.
- If your goal is revenue, then put in the effort to grow your target audience and create a valuable course, then set your price based on that value.
Action For You
Choose a price for your course.
Let Us Know In The Comments
What things will you consider when pricing your course?
Notes
If you are drip feeding new course content you may even choose to have a subscription model where students pay on a rolling basis.
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