How to price your online course

How to price your online course

“How much should I charge for my course?” is one of the most common ongoing questions among course creators.

There’s no right answer to pricing, but there are a 3 key things to think about:

1/ How much is your course worth?

The cost is what someone pays for it, the value is what they get from it.

If you are radically changing someone’s life, that’s worth a lot.

People value what they pay for something. Want them to value your course a lot? Charge more.

You’re more likely to get people to complete a $2k course than a $27 one, since it’s easier to throw away the $27 course if the timing isn’t right. People will feel a lot worse doing that with a course they paid two grand for.

2/ What’s included in your course?

If your course is only 10 on-demand videos, you’ll struggle to charge top dollar for it.

But, if your course includes videos (as the foundation), along with a private community, live calls with you, a journey and accountability partners and a clear outcome goal at the end.. you can justify a much higher price point.  It’s simply because you’ve provided substantially more value to your customer.

Information alone isn’t that valuable. Google and Youtube are free.

3/ How will you market your course?

Many low ticket courses (under $100) can be sold to a cold audience via a Facebook ad, and generate sign ups right away.

On the other extreme, high ticket cohort based programs, like Building a Second Brain or Write of Passage, nurture leads on an email list for literally months, if not years, before they decide to plunk down over $4,000 to become a student in the next cohort.

Remember this formula: the higher your price point, the lower your conversion rate and the more work you need to do to convert a lead to a customer.

You’ll need at least an email nurture sequence that educates, qualifies and excites your prospect to become your customer. This could take weeks or months.

You’ll probably need videos, a webinar and maybe even a 1:1 sales call to close the deal.

So what should you charge? Probably more than you think.

Is charging more worth it?

Keep in mind that charging more might be the very best thing for you (revenue & profit) and your students (commitment and followthrough), provided that you can indeed provide a transformational experience for your students.

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