How Do I Price My Online Courses and Offers
How do you price online courses and other offers?
It’s a big question that I hear a lot, and we are going to walk through how you can think about pricing for your online courses, retreats, coaching, membership sites, consulting, mastermind groups, and any other offers you create.
The questions I hear most often are, “How do I decide how to price online courses?” Or, “How do I price my one-to-one work?” Or, “How do I price the two in relationship to each other?”
It’s a question that brings out a lot of things that can have us thinking about our value, if we are we giving enough, and if we are including too much content.
There are really two mindset shifts you can make around pricing to make this decision a lot easier.
The first shift is this: when you think about your pricing, think about your one-to-one work as your highest premium level of support, with the highest ticket price attached to it.
Now, you might say, “Well, all I have is one-to-one work, Jeanine, so how do I do that?”
I get to work with thousands of experts and coaches every year, and most of the time I see people have one-to-one work as their main, or possibly only, offer.
What if instead, you flipped that around, and offered your one-to-one work as your highest, most exclusive level of work you can do with clients?
Then, you could have other offers, like an online course or group coaching so your audience can connect with you at different price points making your work accessible to more people while also creating demand for your higher level support programs.
Here’s an illustration of how this might look:
If you start to offer your pricing in tiers, based on the amount of access people have to you, it can help you navigate around the mental barriers barrier of how to price.
Every time we begin pricing our offers (“should it be $297, $497, $997, or $2,000?”) or start to think about raising a price, it is important to remember that if you have multiple offers it will allow you to meet your audience where they are, and they get to decide how much access they need to get the result from you. You give your audience options.
That’s the first shift: one-to-one becomes your premium offer and you have different levels of offers at varying price points.
The second shift to think about is that pricing is related to the value that your audience assigns to the result they will achieve with you.
Often, we think about pricing through the lens of what we are offering – six modules, three Q&A calls, group coaching, workbooks, etc – we try to assign a price to the amount of time it took us to create the content or the volume of “stuff” included in the offer.
Instead, try thinking about the value of the result you are providing your clients when they work with you.
If you’re a:
- health coach, the value is how your clients feel after working with you (relieving pain, controlling their diabetes, easily creating healthy meals for their families), not the amount of content you provide.
- parenting coach, the value is the amazing conversations your clients will have with their teenagers.
- leadership coach, the value is the transformation your clients see in their businesses from the work they do with you.
- knitting coach, the value is in the feeling of accomplishment your client will feel when they master a new difficult technique they have never been able to get right.
The key here is to be sure you’re not underestimating the value of the result. I get to work with lots of coaches, consultants, and experts, and one of the one big things I see is underpricing in the offers they are putting together.
You must be really clear that there IS value attached to what you’re doing and that value has to do with the result. It’s not the one hour they spend with you, it’s not the four modules in your course, it’s the value of the result they are achieving.
These two mindset shifts can make it easier to really price yourself where you need to be.
- Your one-to-one work should be your premium work.
Flipping your business around so you have your one-to-many offers (online courses) as your lower price point and your one-to-one coaching or consulting as your highest will enable you to attract more people into your offers. As you attract more people, the demand for you goes up (and your price goes up as well).
- Focus on the value of the result you are providing in your offer.
Your people are investing with you based on the results they will achieve, not the content you provide.
Comment below and share what you are thinking as you consider these shifts. What is showing up for you?