This online course pricing calculator makes it easy to find the right price for your online course, so you can ensure you’re earning a profit from the knowledge you share.
After all, choosing the right price for your educational resource can be tough. Not only do you need to consider the prices of competing courses, but it’s important to think about the amount of work and resources you put into creating your content.
We created this calculator to support online educators, creators, and experts in selecting the ideal pricing strategy for their specific needs. Rather than spending hours pouring over numbers manually, you can simply enter your details into the calculator below, and it will show you exactly how much you’ll be able to earn.
What is an Online Course?
Online courses are digital resources designed to provide students with the training they need on a specific topic or subject. The exact structure of your course may vary based on a number of factors, but many online educators create their courses using a combination of written resources, videos, and quizzes or assignments.
In some cases, you may even be able to offer live tutoring to your students, through streaming services, or create a community platform for your course where students can interact and share knowledge. While the demand for quality education has always been high, the interest in online courses has increased significantly in the last few years, as students search for more convenient ways to expand their knowledge.
Currently, the global e-learning marketing is expected to grow at a CAGR of 13.5% through to 2030, reaching a potential value of $648.6 billion! The growing market, combined with the influx of online course creation tools available for vendors today has created an excellent opportunity for educators.
If you have valuable knowledge to share on virtually any subject, you can make a profit selling online courses to students. There’s even the option to sell your course all at once, sell memberships, or drip-feed content to customers on a timed basis.
How Much do Course Creators Earn?
When you’re creating your first online course for digital learners, there are numerous factors to consider before you choose the perfect price. There’s no set benchmark for how much you should charge for enrolment and access to your content. However, you may find the amount you earn from your course sales varies based on a number of factors.
For instance, some course platforms place limits on how much you can charge for your course ideas, or provide recommendations for the overall pricing of your course. Some platforms also have average prices worth considering. For instance, the average price for a course on Podia is around $137. Alternatively, Thinkific recommends pricing your course at a minimum of $199.
Beginners in the elearning market might consider choosing a lower price for their course topic to help capture the attention of new students. Some online course creators even offer access to a free course to begin with, to boost their chances of reaching potential students.
Factors Affecting Online Course Income
Alongside the platform you choose for selling your digital products, the average price of your online course will also vary depending on a number of other factors. Understanding the value of your online course means thinking about the value you’re delivering in your lessons or coaching sessions, the amount of effort put into creating your webinars and classes, and more.
Some of the core factors that might influence the right price for your online course include:
- The value of your course: Think about the value you’re going to be delivering to students with your course. What are students going to be taking away from your digital products. Do you sell an in-depth high-quality course, or something more simplistic? Can you offer certifications and awards for students to use on their resume?
- The type of course: What kind of course are you going to be creating? Is the solution entirely self-paced, or are you going to be including some interactive components. A course with more interactive elements such as coaching sessions, or a community environment could be more valuable than an entirely video based course.
- Costs for making and promoting the course: You’ll also need to consider how much you’re investing into the creation of your course. How long does it take to create your content and invest in copywriting? How are you promoting your course through channels like Google and Facebook? How much do you need to invest in hosting on an online platform.
- Competing courses: How much are other educators selling similar solutions for? Checking out the competition when building your online course business will help you to determine what sort of premium price tag will appear reasonable to your students. You don’t necessarily need to charge less for your course, but your price should be competitive.
- Number of students: How many potential students are likely to sign up for your course? How many customers do you already have who are interested in the products you’re creating? If you have a good connection with your target audience, thanks to interactions through social media and content creation, you may be able to charge a little more.
- Support level: How much support are you going to give your students throughout their learning experience? If you’re going to be offering constant support, you’ll need to consider the price of your time, which could mean you can choose a higher price point. If you’re going to need to hire people to support students, think about this too.
Choosing the Right Price for your Online Course
Finding the right price for your online course is likely to require some experimentation. Once you’ve created your high-value course content, you might want to experiment with testing different price points, to see how you can increase your passive income and achieve your revenue goals.
The online course calculator above will give you an insight into how different prices will improve your bottom line. Experimenting with different prices also means you can see what kind of costs appeal most to your target audience. You could even consider running polls on a Facebook group or community platform to ask your students what price makes sense to them.
Over time, as your audience grows, and you develop your abilities as an educator, you may be able to increase your pricing based on the value you offer. If you decide to change your course price, you can come back to this calculator to learn more about how each increase will influence your income.