Have you been wanting to create or launch an online course, but you're not sure how to price it, or maybe you're seeing courses out there on the topic that you want to do and they're free or they're really low cost or they're really cheap memberships. And you're just not sure if you'll be able to charge enough for your course to make it worthwhile. Well, don't worry. I have your back. Over the last five years, I grew my online course to $2 million per year in a really small, weird niche. Yes. I now have a course that teaches courses, but that is not how I learned about courses. I had a course in a very small, weird niche that we grew to $2 million per year. And I still really remember struggling with pricing, especially because nobody else had really done my course idea. And I thought, Oh, well, is this really gonna work for my specific idea?
And I remember looking around and thinking, number one, is anyone even going to buy this thing? Number two, how do I price? This started looking at, you know, competitors or courses that were similar to my course idea. And I just felt really, really lost and overwhelmed on how to price my course. Well, like I said, I got your back. And by the end of this article, you are going to know exactly how to price your course and how to get started with pricing your course, no matter the idea, no matter the niche, no matter how much experience you have.
Hey there, if we have not met before, my name is Molly Keyser. I help people just like you turn their passion into a profitable online course that is profitable by kick-starting your course profitably from day one. Now I put out videos just like this every Tuesday. So if you're wanting to learn more about online courses or you like this topic and you want more like it, then be sure to join the profitable courses family. And I put out videos like this every Tuesday. So if you want more information like this, or you really like this video, be sure to join the family with me here on YouTube, hit that subscribe button so you can get updated when new videos about online courses go live. And if you like this topic, and you're excited to learn more about how to price your online course, go ahead and hit that like button. I would really appreciate it again.
I've totally been where you are and I'm going to unpack with you three things about pricing. Number one is, should you look at your competitors when you're pricing your course? Number two, is, will people pay for your course? And number three, what is a good price point to start at for your course?
Okay. So first let's start out with, will people pay for your course idea?
Now the best way that I have found to really figure this out without you having to build a whole course and spend months doing that and try to sell it. And hopefully it sells, right? That's like the really long approach, the old outdated approach I have found is the best way to find out if people will buy your course or not is to simply research your course topic. So for example, most people think that their course idea needs to be unique and needs to be an idea never done before. When in reality, if you choose a course idea, that's already been done and it's already been proven to sell meaning they consistently are getting clients that are paying the money. That is a good idea. Now you might be thinking, well, you know, why would I want an idea that's already been done before? How am I going to stand out? Great question.
You are going to stand out by being you, by telling your unique story. And most of the time people pick course topics that have to do with their story anyways, something they've overcome or something they've learned and they want to share with others. And so that my friend is how you're going to stand out. Now can a completely unique course idea be profitable. Yes, but is it going to take a lot more work? Absolutely. Because you're going to be the pioneer in that industry. You're going to have to be the one to spend your money testing. What's, you know, what's the best price point and what's the best. This is what's the best that versus if you're able to go into a niche that's already been proven to be profitable, say a course on gardening or something like that. You'll be able to go out there and see, okay, what messaging is working for them, what marketing is working for them, what price point is working for them.
So that's how you're going to know if your course is profitable or going to be profitable or not. Is that topic already out there selling right now? The second thing you might be wondering is should I price my course based on my competitors? I actually say no. I think you should look at your competitors to see if there are competitors. If you know, people are buying your course idea out there in the market to make sure that it's a good idea that sells, but I actually recommend that you do not model their pricing. Because one thing I've learned is there's a reason only 3% of people become millionaires with their courses and businesses. And that is because not everyone out there has a ton of marketing pricing experience. So a lot of times, if you go out there and model competitors, they don't necessarily know what they're doing.
You might find people that talk on your topic that are selling a course for only $50 when they could be selling it for 500. Now, being that I've been in the course space and the online course space for over seven years now I can tell you that I do have a little bitty secret for you. There really is a good price range to start your course at now, I have found through testing through doing multiple courses, growing those courses to multiple six figures, millions, multiple millions, helping other people. I have many, many friends in the industry masterminds I've been in. I have two friends that own ads agencies. So I have a lot, a lot, a lot, a lot of data to go off of. And I highly recommend pricing your first course, somewhere between $297 and $1,997. And you're probably wondering how do I know which price point to choose within there?
So two things, number one the more value people are going to get from, or the more tangible value people are going to get from your course, the higher you can charge. So for example, if you, if the people follow your steps and within so many months, they have a six figure business, you know, you can charge more for that, or if people follow your tips and it saves their marriage, you know, you can charge more for that. And you know, let's say you have a smaller course. That's just like how to not kill your house plans. You might want to start at more like 297, and there's nothing wrong with that. Okay. I know people that are making just as much profit with a $297 course that they are with a $1997 course. It's not always about revenue. It's about profit, right?
So and if you're still like, well, I'm not sure what price point to pick. Just know you really can't go wrong because what's going to happen is you're going to price it. You're going to put it out there. And if it sells then great, and if it doesn't sell, it's going to, it could be a number of things, but it could also be the price point. And if you are nervous or new to pricing things, I would recommend starting at 297 and you can always raise your price. It's a lot easier to raise your price than it is to lower your price. Because once you sell people at that certain price, you don't want to lower it. And then those customers feel bad that they paid more for it. All right. So that wraps up the three different talks. All right. So that's the three things I wanted to share with you.
Number one, should you look at your competitors and what they're pricing their courses at? Number two, will people pay for your course? And number three, what is a good price point or price range to start your course at? And there you have pricing tips for your online course, but now you might be wondering, how do I know if my course idea is the right one? How do I know if it's going to be profitable? How do I actually create my course? How do I sell it? How do I build a following for my course? Well, the great news is I am hosting a free online workshop on all of that. I'm sharing everything I've learned over the last seven years. And here is how you can register for that free online, just go to profitablecourses.com/class. And here, it's going to take you to a page where you can sign up for the class.