My Online Course Expert – Creating and selling online courses is a thriving market internationally. The e-learning market was worth $107 billion in 2015, $190 billion in 2018 and is expected to exceed $319 billion by 2029 (Source: ELearning Statistics)!
Investment in education and lifelong learning is a growing trend among both old and young learners. Online courses have come to fill knowledge gaps. Many people seem to prefer the comfort and flexibility of their own homes and to avoid the complexity of commuting to physical classes.
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If you’re not already selling an online course, you’re missing out on a huge opportunity. Be among the first to enter your niche and you won’t regret it.
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You can take the following quiz and see how much money you can potentially make from an online course!
Yes, you can make money selling online courses, although it’s hard to say exactly how much. There are many factors that come into play when you create your own online course and the profit you get from course sales can vary wildly.
For example, as an online instructor you can earn from a few hundred dollars per year to a six or seven figure income. In fact, you can reach up to six figures while treating your course business as a part-time project.
Creating courses is only part of the process. Marketing and sales work, including your personal brand, can give you a head start.
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This varies widely from one online course creator to another. You need to consider many factors that affect your potential earnings when selling e-learning courses.
Even if you’re just starting out, you can learn all of the above and still get paid for online courses. However, you should expect a slower start than an experienced entrepreneur.
If you don’t have an audience yet, you can make some hypotheses based on how many people you expect to sell eLearning courses to. Do you expect 100 subscribers, 200 subscribers or 1000 subscribers?
Online course conversion rates depend on the subject, the price, and your ability to attract and sell to the right people. You can think of conversions as:
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To see different scenarios and set goals based on them, you can run the calculation on all three conversion rates, 1%, 5% and 10%.
To find out if your online business is making money selling courses, you need to subtract the expenses. Fortunately, online courses do not cost anything per additional customer, but may have production or marketing costs. Here’s how you think about it:
Now you can calculate whether your course can be profitable, how much work you need to do, and how much money you can make selling online courses!
Sure, you’re creating online courses for money, but providing value to your students should also be a deciding factor in your decision. You can improve the value of your courses in several ways. Before proceeding to enter the course price of your first course, check out the following factors that may affect the course’s value:
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Working to improve these factors can help market your online course business and gain greater exposure to online communities or even industry influencers who can help you sell and upsell your courses. If you need help marketing your school, check out how you can increase course sales.
An online side project course can be a good way to start making money until you can switch to full time.
Yes they are. You can make money selling online courses if you are methodical and put in serious effort. Online courses offer one of the best business models for digital entrepreneurs. The demand is increasing and people are more than willing to pay for them and they are one of the best ways to make money online.
Especially if you’re selling high-ticket courses, data shows that higher-priced courses ($500 and up) generate more revenue with a smaller audience than low-cost courses marketed to a wider audience.
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However, you need to research more about the chosen topic to launch a new course. Creating your first course can seem overwhelming, but it can be surprisingly easy to use. We offer the best online course platform to create, market and sell your online course.
On top of that, when it comes to creating content for your course, you have many options to choose from.
Reducing the cost of new content and reusing your old material can increase your return on investment (ROI) and your bottom line. Once you know what your minimum expenses are, all you need to do is put together a spreadsheet that can easily calculate the (Income – Expenses) / Expenses equation.
Launching an online academy can provide you with passive income or a really impressive new source of income, but it can also have several benefits for your online course business.
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The main goal is to get paid for online courses, but you can also use an online course to:
As you would expect in a knowledge society where information is power, using your expertise through online education is a revolutionary way to make money. It can also open up a wealth of opportunities for your organization, as well as benefit your community by educating its members.
Online courses can also be a great way to start building your membership site. Membership sites have the advantage of selling subscriptions for a learning community and getting recurring revenue for it.
Online learning is undoubtedly the way forward. Course creators have the chance to earn money selling courses to create additional sources of passive income or even earn money teaching online from your own website.
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Monetize your existing content on training workshops, YouTube videos, podcasts, coaching sessions and empower people to improve their skills.
The real question is, are you ready to become an entrepreneur, open your own online learning business, leverage the resources you already have?
In the meantime, be sure to check out our step-by-step course creation guide that makes online course creation a walk in the park ?
There are several monetization options for a course creator. Successful course creators earn on average around $1k – $10k per month. The best course creators can earn 6 to 7 figure income per year.
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Nick Malekos is a senior digital marketer at . He is a results-based and well-rounded digital marketer with many years of experience in the education industry, author and trainer for digital competence. Our highly qualified English teachers are by your side and provide you with the right tools to help you interact confidently in the real world and achieve the professional and personal success you are working towards.
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