This program is free if you are on Thinkific's Business Plan. Reach out to firstname.lastname@example.org for access.
If you’ve created an online course, then you know that there were a ton of decisions that you had to make throughout the process. From your course topic to your recording equipment, your course title, what to include in your lessons, how to market your course, and everything else in between. And somewhere in that process, you faced the difficult decision of choosing a price for your course.
And if you’re anything like most of the online instructors out there, pricing online courses is not something that comes naturally to you. In fact, out of all the steps involved in creating and marketing online courses, choosing a course price is one of the decisions that tops the list of the most difficult decisions to make as a course creator.
We suspect the reason so many online instructors struggle with this step is because they instinctively know just how important it is to choose the right price for their course. It is not a decision that should be taken lightly, and it is definitely not something that should be created out of thin air with no apparent thought process or strategy behind it.
The price of your course has a direct impact on virtually every aspect of your online teaching business – from the type of marketing you can do to promote your course, to the type of students your course attracts, the amount of support and attention you can provide to your students, and of course, the amount of revenue you can generate from your course sales.
Charge too little, and you erode the perceived value of your course, severely limiting your revenue potential and marketing abilities in the process. Charge too much, and you’ll likely have to reduce your price (it looks really bad when you do this, by the way!) in order to get some sales.
Unfortunately, there isn’t a one-size-fits-all response that we can give to every instructor that is wondering what price they should sell their course for. But what we can do is publish this comprehensive guide, based on the observations and experiences of our team at Thinkific, as well as numerous conversations about pricing with other online instructors.
And since Thinkific currently powers thousands of online courses on just about every topic you could think of, we’ve seen a lot of data on this topic. At this point, we have a pretty good grasp on what works, and what doesn’t work, when it comes to pricing your online course.
What You'll Learn
By the time you reach the end of this course, you’ll be equipped with some practical ways to help determine which price will work best for your online course. You'll learn -
- What mistakes to avoid when pricing your course
- What data points you need to look at to determine your price
- The hazards of pricing your course too low
- Special circumstances where it's OK to price low
- Strategies to increase your course price
Greg is passionate about education. After launching his own online course in 2004 (marketing to thousands of students and generating over $10,000 in ongoing monthly revenues), Greg realized how powerful online education could be for both students and educators.
Greg successfully transitioned from his work as a securities lawyer to working full time in online education, first with his own students and now with Thinkific.
Greg and the Thinkific team have helped instructors and companies create and launch thousands of online courses, to students and audiences worldwide.