Guidelines on pricing a course
One of the most common questions we hear from guides is "How do I know what to charge for my course?"
I wish there were an easy answer to this question! However, whether you charge for your course, and how much you charge, is different for each instructor - and each industry!
In other words, it's important to understand that pricing is part of your overall business model.
For example, if your main goal is to build your email list and give people a taste of what it's like to learn from you, you may choose to offer your course for free - or a very low price.
On the other hand, if your goal is to use the course as a source of revenue, you'll want to charge for the course. How much you charge will be a combination of what similar programs or courses are selling for in your field, and what you feel comfortable charging your students.
Ideas for Setting a Price
If you're still not sure how to price your course, here are some ideas to jump-start your research process.
Run a free or low-cost "beta" course
Testimonials are critical to selling your course effectively — so consider running a free or low-cost offer while your course is new (we like to call it "in beta"). To make it feel exclusive, limit the number of people who can participate. Seek out their feedback and testimonials as they go through the course. Then launch "version 2.0" with updated and improved content, glowing testimonials... and a much higher price!
Offer early-bird pricing
You can always change the price of your course through the "Pricing" page. Create a sense of urgency by giving folks who sign up by a certain date a break on the price. Then raise it when that date rolls around. You can even set two or three dates and have several levels of pricing.
Invite a friend to join for free
Give your participants a chance to share the course with a friend. It's a win-win: Your students get extra accountability and you get to share your expertise with more people. You can also give them information on how to split the price.
Run a free course
Free courses can be an excellent part of your content marketing strategy. Use them to gauge the level of interest in your content, build brand awareness, and help establish yourself as a trusted source of information.
Do you have partners or experts that you work with? Let them audit the course free of charge, and encourage them to participate in the discussion.
If applicable, you can also invite customers who participated in your pilot course or free course to audit the NEXT version of your course — free of charge. By inviting them in, you'll not only grow your community — you'll give new students the chance to learn from seasoned veterans.
Free or discounted access for referrals
Offer a special price — or even free access, in certain situations — for people referred to you by a friend or colleague. This can help you build your audience. People who come in this way will appreciate the special offer, and they'll be primed to work with you more in the future.