Learning is a lifelong process and in today’s time, online learning justifies it. Online courses are purchased by people across all age groups. It fills the gap of knowledge in people. It also offers the benefits of flexibility and comfort of learning at home and therefore, is one of the main reasons why people opt for it. It withdraws the need to travel to a physical classroom for learning.
If you are interested to sell courses online you should start it right away. Helping people with your knowledge is the best thing that you can do in life. Also, it will be a source of passive income for you. However, the question is how much money can you earn by selling online courses?
The answer to this varies from course to course. Some courses sell more and hence, generates more income while some sell less and hence, generate less income. You might make anything between Rs. 0- 5,00,000 per month. Many online course creators earn between Rs. 1000- 20,000 in a month while some exceptionally good businesses earn Rs. 50,0000-5,00,000 in a month. The figures might also go higher.
However, numerous factors determine the money you will be making by selling an online course such as your level of expertise, brand recognition, marketing policy, customer loyalty, etc.
Here are some of the factors that determine the money you will make by selling an online course.
The Price of the Course
The price of your course affects your income from the course. Let us understand this with the help of an example: Suppose you want a revenue of Rs. 1,00,000 from a course. If the price of the course is Rs. 100 then you will have to sell it to 1000 customers whereas if the price of your course is Rs. 1000 then you will have to sell it to 100 people.
However, do not forget that your competitors’ course price and your courses’ price should not differ much.
If you maintain social media accounts, run a youtube channel, have an email list of subscribers, etc. means that you have an audience. The larger the network, the better. This is because you already have potential customers who could buy your course. Also, it contributes to expanding your network and facilitates better social media marketing. Additionally, if you plan to launch your own online courses app, it will be an added advantage. If you are new to the online course business, then prioritize the elements of digital marketing.
Experience in Marketing and Sales
If you have experience in marketing and selling, then it would be easier for you to convert leads and sell more. However, it does not mean that someone who is starting new would not be able to make sales, it only means that an experienced person has an edge over a beginner.
This is one of the major factors that determine your course sale and ultimately, how much money you are going to make. If your customers are not coming back to you after purchasing your course once, then it is a bad sign.
You must be able to hold on to your current customer base along with trying to expand it.
As the concept of upskilling and reskilling, learning and unlearning gains importance in today’s time, people look up courses to hone their skills and expand their knowledge. Creating courses to share your expertise, to teach people with the right sets of marketing skills is a great way of making money in a technologically-driven world.