How To Price Online Courses – 10 Tips from 20 Years of Experience

How to Price Online Courses - photo of person setting prices with calculator, laptop

I get a lot of questions about pricing in my line of work. That’s certainly understandable: most edupreneurs understand, even if only intuitively, that the level at which you are able to price your offerings while still driving sales is one of the most fundamental determinants of your business success.

Basically, the higher you can price without causing a major drop in sales volume, the more revenue you will generate. And, if you can keep your costs constant – or better yet, reduce them – while raising prices, the more money you will make overall.

What happens more often than not, though, is we feel controlled by what we perceive as the possibilities for pricing in our market. While it is true that the sky is not the limit – there are, of course, prices that will be higher or – we often forget – lower – than customers are willing to pay, it is also true that we have a lot more control than we think over pricing.

Based on years of consulting about pricing and on my own needs to set prices, here are my top tips for controlling your pricing rather than letting your pricing control you. [Read more…]

Marketing You Can Offload, Marketing You Can’t

Picture of overwhelmed female entrepreneur who wants help to offload marketing

One of the issues readers write to me most often about is marketing, and many want recommendations for companies that will do their marketing for them.

My usual thought when receiving these e-mails is that “if you are in the course business, you are in the marketing business, like it or not.” As I have argued before, you need to spend at least half your time marketing if you are serious about building an audience and – by extension – growing a successful online course business.

Still, I recognize that response is not very helpful to people who simply do not want to do their own marketing. (Or, who want to do significantly less of their own marketing.)

So, it’s worth asking: what parts of marketing can I legitimately offload without risking the success of my business? To answer this question, I find it useful to think in terms of the classic “4 Ps” of marketing: product, placement (distribution), pricing, and promotion. [Read more…]

The “Triple Your Price” Exercise

If you want one simple action to improve your course business over night, it’s this: raise your prices.

To understand why this is true, I’d like you to go through the mental exercise of tripling the price of one of your main (or perhaps your only) course. If you don’t have a course yet, simply triple whatever you are currently planning to charge for your course. [Read more…]