Once you create your online course, the next task begins; selling your course and monetizing on that. But we understand, getting into course selling right after the course creation can be quite overwhelming. But over the time we have seen many online educators selling their courses on Learnyst and making a profit almost 100x of their initial investments (yes, you heard us right). And when we took a closer look at their success stories, there were quite a few common points that they all used. And it is safe to say that if you start following these practices during your course creation, you can also earn more than 10x revenue. So here we present to you a collection of 5 best practices of online course selling.
So, without further ado let see what these 5 best practices are,
Having a clear idea about who your ideal learners are, helps you in preparing a marketing strategy. For example, you cannot sell a mechanical engineering course to an LLB student. So the first thing you need to do is know your target audience. Creating learner persona helps you further in targeting smaller groups within the same target audience. Furthermore, show the learners the value proposition of buying the course from your online web & mobile apps. It helps them become more confident in buying the course from your online institution.
Let’s start with an example. Say Mr. X wants to profit from selling stationery items to school students, but he has opened a shop near a sports stadium. Obviously, the business will not profit as expected. But if he had opened the same shop near a school, he would have made more profits. So knowing the online forums your target learner group frequently visit and addressing them is one way to do it. For example, you can open an account in quora and follow questions related to your field. Whenever a student asks a question in the similar line, you can answer them on the forum and then provide him with a link to your online web & mobile apps.
In today’s time you can create and sell courses on virtually anything and everything. But if you want to see faster result, you need to pick up the courses that are in demand and contextual. This way you make sure that there is already a ready market to pitch your courses successfully. This would be easier than creating a market from the scratch.
Pricing is a major deciding factor when it comes to price the online courses. So you have to decide the price at par with your competitors. Make sure your pricing strategy covers your expenses to create the course and market the course. Although selling courses at lower price can give you initial success, it might not be useful in long run. We suggest you to keep right course price by offering competitive advantage through your course content and quality service. Trust us, even the best online course with a high selling price would attract good handful of learners.
The last one is the differentiating factor. Who would you prefer to buy from if 5 different vendors are selling the same product with more or less same quality? Obviously, someone who would be providing some extra service or additional value add. In context of course selling, this can be special offers, one on one guide, mock tests, daily updates (news feeds), live classes, weekly doubt clearing etc. You need to judge for yourself as to what is it that students of your course would like to have and what additional value you can offer for your learners. Combine it with what is missing in your competitors and you can make it into your x-factor.
So, as evident from these 5 Best Practices of Online Course Selling, if you try out these steps, you will start selling and making profit from your online teaching institute. And as you do, you will see more and more students purchasing courses from your online institution. But like everything else, you might not see split second effect. The key to sell and make profit from online course sells is patience. Once you effectively follow these tips, you will rip the benefit for a long time to come.
If you have any doubt or questions feel free to drop your comments below.
Also, read Ultimate Tools To Teach Online.