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Pricing your course can be a daunting task, especially if you’re just starting out. However, with a bit of planning and consideration, you can set a price that both reflects the value of your course and is attractive to your target audience.
Here are five things to consider when pricing your online video course:
1 — The Market You’re In
Every market is different, and the spending power of your target audience will vary. For example, a financial market might be willing to pay more for a course than a DIY market. Consider your market and what they might be willing to pay for a course like yours.
2 — The Product Itself
The type of product you’re selling will also affect the price. For example, an ebook is generally going to be valued lower than an online course. However, you can raise the value of your course by adding bonuses or other resources.
3 — Price Breaks
There are certain price points that can act as mental barriers for potential customers. For example, going from $97 to $119 might be a bigger leap for some people than going from $119 to $149. Keep this in mind when setting your price.
4 — The Value You Provide
The value of your course should be a major factor in determining the price. Consider the time, effort, and resources you’ve put into creating your course, as well as the value it will provide to your students.
5 — Your Competition
It’s always a good idea to check out what your competition is charging for similar courses. This can give you an idea of the going rate in your market, but be careful not to undervalue your course just because others are doing so.
Ultimately, the price you set for your online video course will depend on a variety of factors. By considering the market, the product, price breaks, the value you provide, and your competition, you can come up with a price that is fair and attractive to your target audience. Good luck!
