How much can you make selling online courses?

As the world of education and learning rapidly shifts to digital platforms, selling online courses has become an increasingly popular way to share knowledge and generate income. If you’re considering creating and selling your own online course, you may be wondering: how much can you make selling online courses? Let’s explore the benefits of selling online courses, the potential earnings you can expect, ways to increase the value of your courses, and whether you’re ready to become a course creator.

Why should you sell online courses?

Selling online courses provides numerous benefits, including:

1. Flexibility and Convenience

With online courses, you can create and sell content from anywhere in the world, at any time. Plus, learners can access your courses at any time, from any location. This flexibility and convenience make online courses an appealing option for busy professionals, entrepreneurs, or learners who need to balance their schedules around work and family commitments.

2. Scalability

Unlike traditional classroom-based teaching, online courses have an almost limitless potential to reach a large audience. As long as you have an effective marketing strategy in place, your courses can reach learners from all over the world, providing a substantial source of income over time.

3. Passive Income

Once you’ve created your course content and made it available online, you can reap the benefits of passive income. This means that learners can purchase and access your courses at any time, providing you with an ongoing source of income without the need to constantly create new content. It doesn’t mean that you won’t have to work, there will certainly be work to do, however, your digital asset will have the potential to make money 24/7.

Can you make money selling online courses?

Yes! You can absolutely make money selling online courses. The amount of money you can make depends on several factors, including the quality of your course content, the size of your audience, and your pricing strategy. Some of WP Courseware’s Power Users have been able to leverage the power of selling online courses with income levels reaching 7 figures and above. If you are just starting out, perhaps this venture will simply be a side hustle which still has the potential to earn supplemental income each month. Thats exactly how I started Fly Plugins.

How much revenue to expect from an online course?

The revenue you can expect from an online course varies greatly depending on several factors, such as:

1. Course Pricing

Your course pricing strategy plays a significant role in determining your revenue. Generally speaking, you should price your course based on its perceived value and what the market is willing to pay. For example, if you’re creating a course on a niche topic in high demand, you can command a higher price. Your level of knowledge and expertise on the course topic may also determine the level of your price point. Later in this article we will talk about adding more value to your online course.

2. Course Content

The quality and relevance of your course content can attract learners and influence your revenue potential. If learners perceive your course as providing a high level of value and knowledge, they’re more likely to refer it to others, expanding your audience and increasing your revenue over time. If your students are able to achieve their learning objectives successfully you will likely have less customer churn and less customer attrition which keeps more money in your pocket and also leaves you with raving customers which may purchase additional courses from you.

3. Target Market

The size and preferences of your target audience can affect your revenue potential. If you’re targeting a niche market with high demand, you have an opportunity to charge a premium price. However, if your target market is saturated, you may need to adjust your pricing strategy accordingly. Niching down is key to help with your USP (unique selling proposition) as well as reducing your competition while maximizing profits.

4. Marketing Strategy

The effectiveness of your marketing strategy can attract new learners and influence your revenue potential. You need to actively promote your course via social media, email, and other channels to maximize visibility and reach out to a wider audience.

One very effective strategy is to build an email list by offering a lead magnet. The lead magnet helps potential customers become aware of your brand. Creating an irresistible lead magnet is one of the best ways to build your email list fast. Once you build your email list you can continue nurture and eventually sell to your list. There are various tiers to a marketing funnel, but the idea is to build trust as you move your potential customer through the funnel until they make a purchase.

Another effective strategy is to offer a live master class. Basically a master class is a way for you to get your foot in the door. By providing a live training via webinar, you are able to provide your audience with useful information which in turn builds trust. Obviously you will not give away your secret sauce, however, you can essentially take someone through the entire funnel by offering the master class as a lead magnet, provide them with useful information which builds trust and end with a sales pitch. Amy Porterfield uses this exact strategy which is extremely effective.

How to calculate potential revenue for an online course?

There are several factors that you will need to consider. If you have never sold online courses, then you will need to estimate a few factors to run the formula. Here are the factors you will need to consider:

  • Size of your audience
  • Potential conversion rate
  • Price of your online course

The formula will look something like this:

Revenue = Audience x Conversion Rate x Price of Online Course

A decent conversion rate will be between 2% and 5%. Anything higher is huge win and anything below will require you to rethink your marketing funnel.

Also keep in mind that total revenue is not factoring in the cost of doing business. You will need to take into consideration what you will spend creating the course and marketing the course.

Profit = Revenue – Cost(Course Creation + Marketing)

Just for fun, lets crunch some numbers! Let’s say that you create an online course and determine you can sell it for $200. You also have been building a social media presence and you’ve acquired 5,000 followers. Let’s assume that you will have a 2% conversion rate which is very conservative. Let’s also assume that you purchased a nice DSLR and a some video editing software which cost around $1,500. Let’s also assume that you purchased a domain name, and got web hosting for around $100. The last piece of the puzzle is purchasing a WordPress LMS which would be less than $200. Total cost of creating the course would be $1,800. Now lets do the math.

Potential Revenue:

$20,000 = $200 x 5,000 x 3%

Profit:

$18,200 = $30,000 – $1,800

😱😱😱😱😱😱😱 That’s just the profit from your initial launch! Depending on your marketing efforts, the revenue will continue over time.

How do you increase the value of an online course?

Creating high-quality content is the foundation of an effective online course, but there are several additional ways to increase its value and appeal to learners, including:

1. Interactive Elements

Incorporating interactive elements such as quizzes, and videos can keep learners engaged and promote active learning. One way that really keeps students engaged is hosting a weekly coaching call or live training and allowing for Q&A at the end of the training.

2. Additional Resources

Providing additional resources such as worksheets, spreadsheets, documents, e-books, lists, cheatsheets and templates can make your course more valuable and attractive to learners.

3. Create Community

Creating opportunities for learners to interact with each other and provide feedback on their progress can increase engagement and motivation. There are several ways to create this engagement.

4. Certificates of Completion

Offering certificates of completion to learners who successfully finish your course can enhance their sense of achievement and provide an added value to your course.

Are you ready to become a course creator?

While the potential for earning revenue from online courses is significant, becoming a course creator requires dedication, creativity, and persistence. Before diving in, consider the following:

1. Identify Your Niche

Find a topic that you’re passionate about and that you have expertise in, but also one that there is a demand for in the market. If your struggling to find a topic be sure to checkout our potential topic list.

2. Set Clear Goals

Determine what you want to achieve with your online course and set clear goals to measure your progress along the way. This step is very important because once you have set your goals you can then begin to create a plan by reverse engineering the process to arrive at your goal.

3. Invest in Quality Content

Creating high-quality content is crucial to the success of your course. Ensure that your content is well-researched, useful, and engaging to keep your learners interested. If you are creating video content, ensure that you have excellent audio quality.

4. Market Effectively

Having a solid marketing strategy in place is key to attracting learners and driving revenue. Use social media, email marketing, and other channels to reach your target audience and ensure you are providing them with what they are looking for.

5. Be Prepared for Ongoing Learning

The e-learning industry is constantly evolving, so it’s essential to keep up with new trends, learn new skills, and stay informed on industry news.

Conclusion

Selling online courses provides an opportunity to share your expertise with a global audience while earning revenue and potentially achieving financial freedom. With growing demand for e-learning, there has never been a better time to become a course creator. By focusing on creating valuable content, setting clear goals, building a strong marketing strategy, and staying current with industry trends, you can successfully sell online courses and make a positive impact on learners around the world.

2 Comments

  1. Valerie K Miller, M.Ed. CMP on February 11, 2024 at 11:14 am

    I have been a WP Courseware customer for years. They keep adding new functionality to the plugin, which makes it more valuable to me as a course developer. The WP-courseware plugin is easy to use and so versatile with all types of online courses. This is a great article that is informative and encouraging. If you have not tried out WP-Courseware, give it a look. There is NO reason to pay outrageous prices for LMS functionality.

    • Ben Arellano on February 12, 2024 at 9:16 pm

      Thank you Valerie for your kind words! We are still going strong and we still have plans for more improvements. Keep your eyes peeled! 👀💪💥

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