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Creating online courses requires a lot of hard work and dedication. From deciding on the course topic, recording equipment, course planning, how to create the course, how to market and how to sell online courses, everything required proper planning.
Course selling is an art that you as an online course creator must master. Selling a course is not only dependent on the content of your course but also the price that you set for it.
Most of the time, creators set lower prices for their courses but you should remember that your course is worth more than what you think. You might be thinking of attracting customers by setting your prices low, however, there are numerous reasons why you should not be doing this.
This article aims at listing the reason why you should not charge a low price for your online courses.
1. High Value of Education
Education is highly valued in societies across the world. Knowledge is something that people are hungry for respective of their age. If you are providing knowledge to others and helping them in their career or life, why should you price your course low?
2. Provide Means to Education
Regardless of why your students chose your course, you must be able to provide them with a clear path to their education and demonstrate that you care about their personal growth.
3. Chances of Course Value Degradation
Prices that are not as per the market or your competitors might create an impression of your course not being up to the mark.
4. Say No to Competing over Price
There will always be someone who will be selling their courses a little cheaper than you. Do not focus on it. Focus on what your customers are looking for and whether the price that you set for them justifies the value that your course provides to them or not.
3. Higher Engagement
When course pricing is reduced, engagement rises. Learners are more likely to complete the course if they have invested in a course. However, if the course is lower-priced, they might not take it seriously or would not care about completing it because they would not be losing anything. The worse thing that can happen is that they might forget about it.
4. Advertising Limitation
Lower priced courses are not easily advertisable if you do not want t to incur losses. This is because you will not be able to recover the money that you spend on advertising it despite making sales. The only chances of not incurring losses here would be making higher sales but that, again, requires goodwill and good marketing.
5. The Amount of Effort That You Put in Should Be Valued
You need to put a lot of effort into creating and selling online courses. Your effort should be valued. The process of selling also remains the same, so aim not to set a price that your course deserves.
You should always price your course according to what the price should be, not higher, not lower. Do competition research, keep a track of your investment- time, money and effort and set a reasonable price for your course accordingly.
