How to Price a Digital Course
Pricing your digital course is surprisingly stressful. Charge too little, and you might end up feeling resentful about all the work you put into your training only to be “giving it away for practically nothing.” Price it too high, and you might feel self
Episode 122 of the Tiny Course Empire Podcast podcast, hosted by Cindy Bidar, titled "How to Price a Digital Course" was published on September 2, 2024.
September 2, 2024 · Tiny Course Empire Podcast
Summary
Pricing your digital course is surprisingly stressful. Charge too little, and you might end up feeling resentful about all the work you put into your training only to be “giving it away for practically nothing.” Price it too high, and you might feel self-conscious about it. Who do you think you are, anyway? So we try to apply some logic. We try to math, but when it comes to digital goods, math doesn’t work either. There’s no additional cost involved in delivering one more video download or one more PDF, so we can’t multiply the cost of goods sold by our markup to arrive at a retail price. What’s the answer then? Well, it’s one part art, one part intuition, with a dash of espionage and just a hint of a power pose thrown in for flavor. We’ll get into all the ins and outs of how to price a digital course in this episode of the Tiny Course Empire Podcast. Prefer a transcript? Here you go! What you’ll learn in this episode: What I discovered about pricing while managing a gas station. Two reasons low-cost products and courses might be more trouble than they’re worth. Where not to land on the pricing scale (here there be dragons). The surprising element that can dramatically increase what potential students are willing to pay for your course. Resources mentioned: My CLEAR Framework offers a step-by-step strategy for building a digital business from the ground up. When you’ve worked through the Framework, pricing your online course becomes much easier. The Framework Formula turns what you know into what you’re known for, which in turn opens the door to premium pricing for every course you create. Six-Figure Systems is my monthly training program where we talk strategy, pricing, marketing, and all things digital course creation. Start a 7-day, all-access trial today for just $7. Peter Boyle’s $1 Product Challenge offers a great reason to create an ultra-low-cost product. Tiny Course Empire focuses on creating a library of small courses you can leverage in a variety of ways.
Episode Description
Pricing your digital course is surprisingly stressful.
Charge too little, and you might end up feeling resentful about all the work you put into your training only to be “giving it away for practically nothing.” Price it too high, and you might feel self-conscious about it. Who do you think you are, anyway?
So we try to apply some logic. We try to math, but when it comes to digital goods, math doesn’t work either. There’s no additional cost involved in delivering one more video download or one more PDF, so we can’t multiply the cost of goods sold by our markup to arrive at a retail price.
What’s the answer then? Well, it’s one part art, one part intuition, with a dash of espionage and just a hint of a power pose thrown in for flavor.
We’ll get into all the ins and outs of how to price a digital course in this episode of the Tiny Course Empire Podcast.
Prefer a transcript? Here you go!
What you’ll learn in this episode:
- What I discovered about pricing while managing a gas station.
- Two reasons low-cost products and courses might be more trouble than they’re worth.
- Where not to land on the pricing scale (here there be dragons).
- The surprising element that can dramatically increase what potential students are willing to pay for your course.
Resources mentioned:
- My CLEAR Framework offers a step-by-step strategy for building a digital business from the ground up. When you’ve worked through the Framework, pricing your online course becomes much easier.
- The Framework Formula turns what you know into what you’re known for, which in turn opens the door to premium pricing for every course you create.
- Six-Figure Systems is my monthly training program where we talk strategy, pricing, marketing, and all things digital course creation. Start a 7-day, all-access trial today for just $7.
- Peter Boyle’s $1 Product Challenge offers a great reason to create an ultra-low-cost product.
- Tiny Course Empire focuses on creating a library of small courses you can leverage in a variety of ways.