One of the most common problems that most of the course creators face is “What should be the price of my online course?”. This is also one of the toughest decisions to make. Because it is not easy to give a price to your knowledge, right?
Being a course creator, you can not keep the prices too high or too low. Because -
- If you price it high many people will find it difficult to afford it and
- If you price it low, people could think that it may not provide the value that they are looking for.
‘What should be an ideal way to set the price for my online course?’ you must have this question in your mind. So, in this blog I will share some tips about how you can set the price for your online course.
Tips to set the price of my online courses
1- Free Course
You can create a course for free. Yes,it may sound tiring because it takes a lot of time, energy and effort to create a course. But it can work as a lead magnet to your potential learners. It will help you to build trust and attract more learners. You can also share your free courses with your mail list. It can help in converting the warm leads into your customers. Recording videos, editing them and then sharing it with your potential learners is a one time effort. So, I think it will be beneficial for you if you provide a free course to your potential learners.
2- Premium Pricing
Premium Pricing can not work during the initial days but it can prove to be beneficial in the long run. Keeping the prices implies that you are confident about what you’re offering to your learners. So, it will help you in building trust. It will also help you in reaching learners who are actually looking out for you. Learners have invested so much money in your course. They would definitely want to get the most out of it. So, the chances of course completion are very high.
3- Membership Pricing Strategy
Membership pricing policies are on the rise and they are very effective as well. Many businesses have switched from traditional pricing policies to membership pricing policies because of the benefits that they provide.The benefits that it provides are -
- It helps in attracting more learners.
- It removes the barrier to entry for your products.
- It can help in generating predictable revenue because your learners will be paying you on a regular basis.
If you opt for this pricing policy then you can not avoid creating content on a regular basis. It becomes extremely important for you to keep coming with more interactive lessons and features. This is the only way to retain your learners. You can go for Spayee, they provide Membership Pricing features to their clients.
4- Paid per course
You can also choose to get the payment according to the payment per course basis. Most of the creators use this method to price their courses. It helps them to analyze the return on investment that they have generated from each course. It also benefits the learner because they will be paying only for the course that they want to enroll in. The learner can purchase any of your courses and if he/she likes it then they can go for your other courses as well. So, we can say that they help in building trust too.
5- Per Package course
You can combine various courses and create a package. This will attract more learners. Let's say you have a course of facebook ads worth Rs. 4000 and a course of Google Ads worth Rs. 6000. You have decided to create a package of these two courses and sell them for Rs. 8500. It is obvious that people who would want to learn ads will find it beneficial to purchase the package rather than purchasing an individual course. You can choose a platform like Spayee and easily create your package course.
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