Pricing Online Courses: Average Costs, Benefits of Premium Pricing & More

Pricing Online Courses: Average Costs, Benefits of Premium Pricing & More

Pricing online courses can be an overwhelming process, as you need to factor in the value of your material, the cost of your production, and the potential revenue for your business. But understanding the main pricing approaches and options out there can help you determine the right balance for your online course.

Average Costs of Online Courses

The cost of online courses varies, in part depending on the particular subject matter and production quality. Courses that feature more material, higher production value, or particularly specialized subject matter may charge more than more general courses. Below are some average costs of online courses in various categories:

• Business: $50-$200
• Marketing: $50-$500
• Technology: $50-$200
• Finance: $50-$200
• Health: $50-$200
• Fine Arts: $50-$200
• Personal Improvement: $30-$150

Benefits of Premium Pricing

In addition to offering the usual low-cost online courses, setting a premium price point for one of your courses can bring several advantages. Premium courses often suggest high quality and high production value, which may make them more attractive to potential students. Additionally, when people pay a higher price for your course, they are more likely to commit to completing it. Here are some of the main benefits of offering premium-priced courses:

• Higher revenues for your business
• Likelihood of more committed students
• Credibility in the eyes of potential students
• Potential to offer more “premium” features
• Opportunity to build on existing course material

Other Course Pricing Options

In addition to traditional course pricing and premium pricing, there are other course pricing options you can consider. You may choose to do a payment plan, where students pay installment payments throughout the course. You may also prefer to use a subscription model, where people pay a monthly fee rather than a one-time fee. Offer discounts or group prices to encourage larger enrollments, or undertake marketing strategies like giving the first course away for free.