Can you really make money from selling courses?
There are millions of people out there just waiting, waiting, waiting to pay for the knowledge you have right now, but first you have to package your information in a format they can receive online.
This is where online courses come in.
And yes, you can make a lot of money selling your own courses but you have to do it the right way, and you need a reliable course hosting platform to deliver your courses.
In this post, I will reveal what you can expect in terms of earning potential from your online courses and also answer some of your very burning questions.
But first, let me ask you a serious question: “What do you know right now that you are so sure other people need to learn because it will help them in their own lives?”
I want you to think about that really deeply as you read this article because your answer will determine just how much you can make from selling your online course.
Today, so many people are creating online courses because the demand for online education has gone up drastically in the past few years.
This is not only because it is a simple business model to set up but also because you can make a lot of money selling your own online courses.
But how much really can you make from selling an online course?
In 2020, Youtube Creator Vanessa Lau, reported to have earned over $1 Million Dollars selling her signature course online within the year. At a price point of about $1,000 dollars, she needed to sell at least 1000 registrations into her course to earn a million Dollars.
Just recently, a client of mine brought in a crazy $50,000 in the first 45 days of selling her eBook and online course. She was able to do this successfully because she implemented a sales funnel into her system and I’ll share more of that below.
Can you do the same? Can you really make money selling your own digital products and online courses?
Of course you can, but you need to know your math and your numbers all the way. First we have to start with the actual price of your course, which will depend on what type of online course you create, the niche, the topic you are dealing with and the demand for that information.
How to Price Your Online Course for Profitability
Knowing your numbers means working your way back even before you create your online course and then creating an effective marketing plan and strategy to help you reach your projected goals.
Generally you don’t want to spend time creating a course and setting the price below, say, $50.
If you create a really good course and set the price at $100, you will need to sell 100 registrations of this course to earn $10,000.
However if you reviewed that price and you thought to yourself:
“This information I am sharing is so much more valuable..”
“This course is worth $500”
“This is so much value that people can’t get anywhere else”
“I worked so hard to understand this information, I should charge more..”
Now you have some use arguments for increasing the price of your course.
So let’s say you summon the courage within yourself to actually raise the price to $500. Now you’d only need 20 sales to earn $10,000.
Now all you have to do is figure out how to find 20 people who need this information and can afford to pay you $500 to access your course.
This is where your marketing strategy to sell your course comes into play.
As you can see, how much money you make from your online course is entirely up to you, and you can steer this wheel however you want.
How to Make Your Online Course More Profitable
So many course creators are faced with the daunting feeling that perhaps their online course is not valuable enough, and they need to improve the information, or add more modules to make it appear fuller.
But simply adding more and more modules into a course is not what makes it valuable. A valuable online course is one that does what it says it would do for the student.
Not everyone who begins an online course actually goes through the entire content and finishes up. It is estimated that only 20% of the students go through the complete course material.
So your task is not merely to add more modules to make the course appear valuable, you should instead be focusing on helping your students go through the material easily and achieve results faster.
So How Do You make an Online Course Profitable?
Have you created an online course already or thinking of creating one? Simply increasing the price of a course without increasing its value to your students is not what will make your online course profitable. You need to follow proven tactics and strategies which I will share with you below.
Once you have one or a combination of this in place, you can bet your next Dollar that the perceived value of your course will increase dramatically.
Here are 7 Ways to Make Your Online Course More Profitable
Your course is only as valuable as it can get results for your students. Here are 7 simple things to do to increase the Value of your course and even potentially increase the price.
Add Worksheets, Templates and corresponding documents that will help students practice what you teach
This is a great way to really make your course come alive.
By adding templates and such documents, you give your students more resources to help them achieve their goals faster.
Watch this quick tutorial to learn how to add worksheets and templates to your course.
Include hands-on training or one-on-one coaching access:
Some creators and coaches are available to work one-on-one with their students.
Adding this simple offer can exponentially increase the perceived value so you can raise the price of your course.
People love access, and most times are more than willing to pay for it.
Simply adding two Live group coaching to your course can prove profitable.
Create a simple Coaching gig directly from your dashboard on Kobocourse.
Create a Community for the students:
People like to be around like-minded people.
This is why social media gets all the attention and why people still spend time in Facebook groups and Discord communities.
Humans are generally community driven and having a community in your course can be the difference between a course that thrives and is successful and one that isn’t.
You can set this up easily with Facebook groups or with the powerful Membership feature on Kobocourse.
Add Exercises and Homework for students:
Adding homework or things to do is the perfect way to ensure your students are practicing the information in your course.
You can add compulsory work-to-do assignments to each module of your course and force your students not to move to the next module without finishing the first.
Your students will be glad for this because it encourages them to do the work and leads them closer to their own goals.
Remember, your course is only as profitable as it can get results for your students.
Offer direct QnA portals or Forums:
If your students know that they can send in questions anytime and get answers directly from you or your team, this alone can trigger a sense of support which is what everyone needs.
Your students don’t only need the information in your online course, they also want to know that they will be supported if they ever need help.
Offer Challenges and Prices for completion:
Just like your work-to-do or homework for your students, you can offer group challenges that everyone participates in from time to time and add prices for winners. These types of added bonuses deepen that sense of community with your students and helps them feel motivated to actually implement your course.
Set your Courses to Expire at a certain time:
A very effective, yet not so common strategy is to set your courses to be accessed for just a limited time.
Some coaches set their courses to expire after a year and because students know that they will have to pay again to access the material, they are usually forced to finish the course.
You can do this easily with the Membership feature on Kobocourse and you can create a Membership course site that is set to monthly, quarterly or yearly access.
Remember, the more you help your students get what they want, the easier it is for you to get what you want.
If your students are successful from taking your online course, they are more likely to leave Testimonials and this in turn will give you leverage to sell more courses.
Who Can Create Online Courses?
Anyone can create an online course today and put it up on the internet. As long as you have an audience, a marketing plan or a strategy in place to get more people to know about your course, you have every opportunity to make great success as a course creator this year.
Selling your own online course is not difficult if you have the right tools and software to connect with your students.
Are Online Courses still profitable in 2022?
The straight answer to this is Yes!
Even more so now than ever before.
The world has changed drastically in the last couple of years due to the unfortunate outbreak of the pandemic in 2020.
It is no surprise that more and more people are online now, as the pandemic forced us to be quarantined and work from home.
Many more people are embracing the work from home, learn from home attitude and as such there is a huge increase in the number of people searching for solutions online.
If you are yet to create an online course, now is the perfect time as people have become more accepting of the digital world, transacting business, connecting with friends and family, improving themselves and getting education.
As you can see from this Google Trend search below, the search for the keyword “Online Course” has only continued to rise in the past five years and really peaked its highest in April 2020!
What Online Courses Sell Best?
The success of any online course depends on the Creator, the course itself and the need for that specific topic. However there are certain niches and topics that generally do better than others because of the general high demand for such topics in the marketplace.
Here are some niches that generally do better than others because of high demand for this content in our everyday lives
- Health and Fitness
- Computers, Software and Technology
- Business and Entrepreneurship
- Self Development
- Money Making
- Nutrition and Wellness
- DIY, Crafts and Art
- Social Media and Digital Marketing
Why Sell Online Courses?
So many people want to create and sell their own online courses but why should you? Is this a profitable business model for you?
Here are some of the reasons why many people are choosing to sell online courses:
- To earn more money
One of the main reasons people choose to create online courses is to earn more money. It has been proven to be a profitable business model and many people are leaving their 9-to-5 jobs, and starting online businesses where selling courses is the main income generator.
- To create an impact
Having an online course will not only help you earn money online, it will also help you build rapport with your students from all over the world and create a lasting impact in their lives. Because your course is a promise to create lasting change and improvement in someone’s life, you leave a positive impression and create impact. Having an online course goes beyond making money, it is also about helping people and changing their lives.
So the next time you think of your course, remember, you are creating an impact in the world.
- To build a network
Having your own online course goes several levels deeper than simply creating content online. Creating content may help you get seen by the right audience, but your online course will help you build a network of a core tribe of like-minded people. This network can prove profitable overtime as you continue to nurture and serve them
- To build personal brand
Selling online courses will solidify your place as an expert in your industry. You will be seen as an industry leader, the go-to expert in a specific topic and more and more people will look up to you because you have a course teaching a specific topic. If you want to build more brand presence, training people through your courses is one of the easiest ways to do that.
- To build passive income streams
Making money with online courses is one thing, but making money online passively is where you need to be. You don’t want to have an online business that requires you to be hands-on 24-7. Your online business should run without needing you actively working on it.
This is why you need the best course hosting platform to power your business with the right tools and system to sell your courses on demand, and on autopilot.
Once your online course is set up with a robust and powerful course hosting platform like this one, you can sleep easy knowing that the system is doing all the work for you.
Where can I sell my online courses
There are so many platforms to choose from to sell your online courses. But the best online course hosting platform for you will greatly depend on several factors including:
- How much you can invest month to month for course hosting: If you have a big disposable budget to invest in a platform, then you can opt for more expensive options. However many course creators will prefer to have a course hosting platform that is affordable month to month so they can continue to serve their students. As you earn more money from your online courses, you can have more money to invest in more software and tools for running your business.
- How best the platform can serve you as a course creator: Some course hosting platforms do not serve creators from specific geographical locations. For example with platforms like Teachable, Kajabi, Podia, Gumroad, etc, you’ll be unable to receive your earnings as an African living in Africa. It is for this reason that Kobocourse exists, to serve the countless creators from all over Africa and give them the tools they need to succeed online.
- The tools you need to optimally run your business: You don’t need every single tool that is marketed out there. Some course hosting platforms are more expensive to maintain month to month because of an overload of tools that not everyone needs. Know exactly what your needs are
Do Online Courses sell well?
How well your course does in terms of sales is dependent on your own online marketing efforts. If you are someone who has no audience, no content strategy, no advertising strategy, then you cannot expect course sales.
Your online course will sell well if you back up the process with a strong, effective marketing plan.
I had a client sell $50,000 in eBook and Course sales in only 45 days.
That is less than 2 months and she is still going strong with her course sales!
Her marketing strategy is a very simple two step process that is powered by an effective Sales Funnel. All she does is post consistent content on her Instagram and drive the traffic to the link of the Sales funnel.
The sales funnel does the rest of the work, on Autopilot!
If you are creating and selling digital products and online courses, you cannot afford to continue to try to sell each course on your own or connect with your buyers one-to-one.
Remember, your online course is created so you can enjoy passive income streams. You may want to consider building a simple sales funnel for your business like this one and take your course sales on autopilot!
Ready to sell your own profitable online courses?
Make sure you are using the best, most affordable course hosting platform with the right tools for more sales.
Start now with a Free Kobocourse account.