In the recent years online courses where you can send certificates online to your students for completion have become one of the most lucrative ways of monetizing your special skills and earn some significant side income. To maximize profits, you need an effective and optimized pricing strategy for your certificated courses. An effective pricing strategy involves looking at a myriad of factors and doing careful market analysis to gauge how similar courses are priced. We will guide you through the steps you need to follow to pick the best price for your certificated course and effectively monetize your niche skills.
A Proven Way to Monetize Your Skills: Send Certificates Online
Do Some Market Research
Look up similar course prices on Google and make a list of the ones that are most in line with your course in terms of specialization, industry, and length of material. Now do a more in-depth evaluation to determine which online training certification courses you enjoy and why. Perhaps they’re well-designed, employ sound technique, or cover issues of interest to you. You’d be content to be linked with such items, which is why comparable cost appeals to you. You might take a shortcut if you have more than one online training certification course on this shortlist.
You may replicate the pricing of your preferred course from that list. Alternatively, you could just choose the highest and lowest pricing ranges and place yourself in the center. Customers will purchase it because they believe it is a prudent middle ground – not too cheap, nor too expensive. They are unaware that it provides you with a greater profit margin than the other two extremely priced courses.
Understand the Course Content
To properly price your course, you need to understand the type of content you are creating. Your customers will be willing to pay for what they think they are getting in return, so you need to understand what your course adds to the customer. There will be different pricing strategies for different type of courses. If you just compile a bunch of information from Google in your course and create an introduction type of class for a subject, you should probably make your course free. Unpaid courses can be used to generate leads for more expensive courses or as a means of promoting your own expertise.
If your course has content that is derived from your own experience and can act as an introduction to a more premium course on a more specific subject, you can pick a cheap pricing. Customers who are just getting started, or who aren’t sure how long they want to remain, will often pay a lower fee in this tier. Don’t forget that low pricing attract low-quality clients, so don’t spend too much time and money on it.
Finally, if you bring in a lot of niche skills to the table, and your course can really provide new career prospects or teach a high paying and sought-after skill, you should go for premium pricing. You may charge your clients extra for the premium course and use payment plans that allow them to pay in one lump sum or over the course of up to six months or a year.
Consider Charging a High Price
If you are creating a course for which you will send certificates online, you want your students to be the type of people who are trying to learn a niche skill or advance in their career. That is why they are willing to pay for a certificated course. Charging a high price increases the perceived value of your course, and if you really have hard to find knowledge in your course, customers will be willing to pay a high price for it. Only charge a high price if you send certificates online for course. If you really are teaching a very specific skill that people will be willing to pay for or if you are a very highly regarded individual in your industry. If you have a very good reputation and learning from you is a privilege, people will definitely pay top dollar for your course. On the other hand, if the knowledge inside the course can be found with a few simple google searches, no one will pay for it.