So, you’ve decided it is the right time to put out an online course (if you’re not sure, check out this post here) and now you are wondering about how to even price this thing. Should I go low? Make it all self-study? And try and sell as many as I can? Or should I go high-end?
So, first things first, you can sell a course or program at any price range, if you are using the right method for selling it for the price point you’re selling it at.
So what are the most common pricing ranges we see with online courses and programs?
- Used as a lead generation tool and usually the first step to sell into a higher-priced course or program
- May be one lesson from a bigger program that is available
Low Priced Courses [$7-$297]
- The lower end of this is often used as a thank you page offer
- These will usually be self-study with no support from the person running the course
The Mid-Range [$297-$997]
- Here there is the largest amount of variation
- I would think there is some involvement from the group owner in this price range (eg. Facebook Group, some coaching calls)
- It could still be self-study but simply be a fairly large program that warrants a higher price tag
High End [$997 plus]
- Again I’ve seen courses range from $997 to $3997 and I would expect very different things from those, so there is no “standard” way of doing this
- Consider the amount of time that you’re putting in carefully
- Consider the amount of transformation or monetary return your students are receiving
- Consider how many other students they’re going to meet and forge relationships with that will impact their lives positively
- Consider the amount of support offered to students (eg. weekly coaching calls, or a couple of 1:1 sessions with you)
Remember that you can always increase the prices, but lowering the prices after a pretty public launch doesn’t look good. So if in doubt, start low and work your way up.
I explained in the article linked at the top that I like to work backwards from offering 1:1 services to more of a course/program type offer.
So, if you currently have 1:1 clients, and you KNOW you want to start scaling soon, then try this. Condense your 1:1 program into a format that you can run with 6 people at a time. On the next 1:1 sales call explain that you are fully booked for your 1:1 but you have a Mastermind starting in 6 weeks and it gets them all the same results etc. do they want to join? Charge the same for your Mastermind as you did for your 1:1 if people can expect the same results there is NO NEED to drop the price.
Then once your Mastermind is full, run it once or twice and refine. Then start thinking about what it would take to make this Mastermind a program for $997 that people can purchase in larger numbers. What content needs to be created, how many coaching sessions do they need etc.
And then, if you want to scale even more, look at ways of offering the whole thing without any support from you – this may not work for you/your audience.
Are you ready to finally launch your online course?
But you are so pushed for time that there is no way that'll happen any time soon?
Then we should talk. I can help you to find the right platform to host your courses, set up all of the niggly tech stuff for you and leave you to focus on creating the content and selling the thing.