Price is extremely important when it comes to creating your course which is why I believe using an online course price calculator will help you when deciding on your course price and revenue goals!
I created an online course price calculator called The Course Converting Calculator that breaks down payment plans, as well as how much money your can course can earn. You can download this FREE online course price calculator with my free training all about course creation below:
What is an Online Course Price Calculator and Why do I Need One?
An Online Course Price Calculator is a tool that allows you to price your online course.
A calculator takes into account various expenses and returns an estimated cost for the sale of your product.
Price calculator tools are typically used by current and aspiring course creators that sell or plan to sell digital goods such as an online courses.
To get the most out of an online course calculator, you will first need to calculate the cost of producing your course.
This includes the following expenses:
- Software fees: This can include things such as email software, course software, webinar software, and anything necessary to maintain course sales.
- Marketing: Are you currently running Facebook and Instagram ads? What about Google and YouTube? It’s important to know how much you’re sending in marketing
- Hosting: Fees associated with hosting your online course website.
To get the most out of an online course calculator, you will first need to calculate the cost of producing your course.
How Do You Use an Online Course Price Calculator?
This is how a pricing calculator works:
It gets your information about how many students and how much money you plan to generate from the course. Once it has all of this information, you can decide on an extremely personalized price based on how many students you plan to enroll in your course.
For example, if you want to make more money each month, you can increase how many sales you need each month OR increase the price of the course.
Your goal is to sell your course to the most people possible. To do this, you need a price that makes sense and will attract students, right?
If your prices are too expensive, no one will buy it – but if they’re too cheap you may not hit your revenue goals AND people may not purchase it because they feel it’s too cheap to be of quality.
It sounds weird but it’s too. It’s why some people choose a Benz over a honda even though both drive! People relate price with quality so if your course is too cheap then people will assume it’s not of quality and will not purchase it.
Inside of my program, Bankable Expertise, I help my students create, market, and sell their course program. One key area we focus on in determining your price for your course and if it should be a high ticket course (one over $1000) or a lower ticket priced course (one under $1000).
It’s why some people choose a Benz over a honda even though both drive! People relate price with quality
Benefits of an online course price calculator
Once you have presold your course and created a course, it’s important that people continuously buy your course. Your job then becomes to constantly market your course in order to get more students. This means you need to find ways to sell your course and how you price it will be a HUGE part of that.
You can use an online course price calculator like The Course Converting Calculator in order to get the most personalized pricing information out there based on how many people/units you plan to purchase at once.
This will help you have the best chance of not only making money but also attracting more people to your course because it will seem like a great deal to them.
Why is pricing your course important?
The pricing of your course is going to be extremely important because it can help you make more money, but it can also turn away potential students if they think your price isn’t worth it. So, how do you determine how much to charge for your course?
You should use an online course price calculator like The Course Converting Calculator in order to get the most personalized information possible out there because this will help you make sure your prices are right and how many students you need to enroll each month to hit your revenue goals.
