138: What to charge for your online course

In this episode 138, I'm diving into one of the biggest hurdles for course creators: how to confidently price your online course and digital products.

If you've ever found yourself stuck, unsure what to charge, or worried about being "too expensive" then this episode is for you. I'm unpacking common pricing myths, exploring why your value is tied to transformation (not just information) and sharing a simple framework to help you choose a price that feels aligned with your expertise and the impact you offer.

Whether you're just starting out or looking to refine your offer, tune in for practical strategies and actionable steps to move your business forward and reclaim your time.

Ready to finally set your price with confidence? Let's get started!

Transcript

Karen [00:00:00]:
Hello and welcome to Online Business Uncovered. This is episode 138 and in today's episode I'm going to be talking about pricing and how to price your online course and digital products so that you feel confident with the pricing that you choose. So let's jump right in and let's get started. Welcome to Online Business Uncovered, the show.

Karen [00:00:30]:
That lifts the lid on what it really takes to turn your brilliance into digital products, passive income and time freedom. I am your host, Karen, an online business strategist, course creation expert and your go to for building a business that works for you and not the other way around. If you are an ambitious entrepreneur, feeling.

Karen [00:00:49]:
Overwhelmed, burnt out, or maybe you're just.

Karen [00:00:51]:
Ready for a smarter, more sustainable way to grow, then you're in the right place.

Karen [00:00:56]:
Because each week I'll be bringing you.

Karen [00:00:58]:
Inspiring conversations, practical strategies and step by step guidance to help you create scalable, repeatable digital products that sell even while you sleep. So if you're ready to stop trading your time for money, reclaim your time.

Karen [00:01:13]:
And finally build a business that gives.

Karen [00:01:15]:
You the freedom that you deserve, hit, subscribe and tune in every Thursday, let's uncover what's truly possible for you, starting now.

Karen [00:01:29]:
Hello and welcome to another episode of Online Business Uncovered. This is the show that helps you turn your ideas into income and create passive income and most importantly, time freedom. I'm your host, Karen and I really do appreciate you hitting that play button to listen to today's episode. 

Now, before I dive into today's episode, I want to just let you know about my free community, the Digital Creators Hub, where you can access free tools and resources to help you start your online business. Because there isn't any better time to start than now. There is so much opportunity available. So come on over into the hub and gain access to some really valuable resources that's going to help you to get started. Now, to access this, head on over to www.sellyourbrillianceonline.com/community and sign up for free today.

Karen [00:02:29]:
All right, so let's dive into today's episode. Now, if you've been following along, you'll know that in episode 136, we covered how to choose the perfect topic for your online course. A topic that taps into your zone of genius and meets a real need that your audience have. Then, in episode 137, we then dived into how to validate your course idea before you go ahead and create it so that you're not wasting time building something than nobody actually wants. 

Now that you've nailed your topic, and you've validated the demand, it's time for the next step, which is putting a price on your brilliance. Now, I know this is where a lot of people can get stuck, because pricing can feel tricky, it can feel emotional, and it can feel even scary. But by the end of today's episode, you're going to have a simple framework for pricing your course confidently, strategically and in a way that feels aligned with your value. So I want to first dive into the biggest myth that I see all the time.

Karen [00:03:42]:
And I come across this so often when I meet other entrepreneurs who want to create an online course but have questions. If I price my course cheaper, more people will buy it, meaning that if you compete on price and you come in under your competitor's price, then you're going to naturally pick up more students. Of course, I wish it was that simple, because if it was, that everybody be doing this. But in reality, pricing something too low can actually make it harder to sell. Because when you undercharge what it is that you're worth, people subconsciously assume that your course isn't valuable enough. They think that if it's only 47 pounds, can it really help me get a result because it's so cheap? But here's the truth. People are not going to pay you for information. What they're going to pay you for is the transformation that you offer.

Karen [00:04:53]:
So they're not going to be buying your course, they're buying the result that your course is going to help them achieve. So what I would encourage you to do, instead of asking, what's the lowest price I can charge so people will buy, I want you to ask yourself, what's the value of the transformation I'm offering? Because that tiny shift can change everything. Now, I've had countless conversations with clients and members in my membership about pricing. What is the right price to charge something at? And one thing that I know to be true is that, as I said earlier, it can make people feel really uncomfortable because it's talking about money. So you need to be confident with what it is that you're asking for. But I think part of that confidence comes from understanding the impact that your course is actually going to have on your students. Now, of course, when you are choosing a price for your online course or your digital product, there are sort of some key factors that you need to take into account. So first and foremost, think about the transformation that you are delivering.

Karen [00:06:12]:
When somebody gets a result, what is going to happen as a result of the solution they've just received? That's going to result in some kind of transformation. So for example, if you are a weight loss consultant and you've created an online course that helps somebody to lose weight, what is the value to that person? And when I say that, I mean think about the transformation that they'll have had to go through to get to that result. So if somebody loses weight, they're going to feel better about themselves, they're going to have more energy, they're going to have improved health, they're going to most likely have better relationships with the people around them because they feel better about themselves, they most likely have a higher self esteem because they feel better about themselves, they have more energy to do things. So maybe things that they weren't able to do before, they can now do, which means their world is opening up. Maybe they can spend more time playing with the kids because they can actually now run around after them because they have that improved energy. What is that value to that person? What are they going to be prepared to pay in order to basically improve their life? So the transformation piece is really important because every course, whatever the result, is going to offer some kind of transformation that that student would have gone through. Now it might just be a shift in perspective, it might be the fact that they've learned a new skill, or it might actually be that they've done something which has had a knock on effect in their daily life. But there will be a transformation and that transformation will of course have a value.

Karen [00:08:14]:
The second factor to consider is your audience. Who are you selling to and what will they be prepared to invest in? So for example, say you're selling a course and you've priced it at 97 pound. This might feel a big leap for a beginner that maybe is, you know, hasn't bought courses before, wants to learn something, come across your course. Maybe £97 feels a lot. But for a business owner who knows that in order to grow, they need to invest in themselves and their business, 97 pound is not going to be a lot. So for them, what you're selling could be a really easy yes. So your audience is going to be a factor in the price that you choose when it comes to selling your online course. Now the other thing to think about, the third factor to think about is your positioning as well.

Karen [00:09:16]:
How are you going to position your offer? Are you the go to expert in your space, in which case you may charge more because you're already established, or are you still building your credibility and you're going to be using your online course as a way of Doing that pricing can actually help because if you are putting on a higher price tag, this can help to build trust when it aligns with really great branding, clear results and confidence. So you don't have to necessarily go to that place of thinking that what you're selling has to be cheap. If it doesn't align with your brand, you can sell premium courses with high price points in if it sits with your business. Now, if your business doesn't look premium, then you may find it harder to sell at a premium price. But the position of how you place your course is going to be vital because that's going to give somebody an indication as to what to expect and of course, if it's worth the price that you're looking to charge. But here's what I want you to remember. Pricing is never just about the number. It's about perception, value and alignment.

Karen [00:10:44]:
Now, I know that finding the sweet spot when it comes to pricing can be really difficult. What's the price that's going to feel right for you, but also your audience as well? And how do you test it? How do you test to see if actually your audience are going to pay it? Here's a really simple way to think about it. Your sweet spot is going to be where your value meets confidence. If your price is too low, you may feel resentful and undervalued, like you're giving all your good stuff away and you're barely making any money off the back of that. And you don't want to be feeling like that. But on the other hand, if you price it too high, then you're going to feel nervous and you may actually struggle to see sell it because you don't feel confident about the price that you've chosen. But when you find that middle ground where you can say your price out loud and feel really proud about it, that's your sweet spot. So it's about understanding what you're actually creating in terms of the results and the transformation.

Karen [00:11:53]:
Understanding your audience about what they're looking for and what they're prepared to pay and how you want to position your course that is aligned, aligned with your business. Do you want to be cheap as chips or do you actually want to sell your course at a premium price because that sits nicely aligned with your business. Now, something about pricing is that it doesn't have to be fixed in stone. You can change this at any time. You can start at one level, get feedback, refine your offer, and then raise the price as you feel confident and your results grow. But I think is about understanding your audience, knowing what it is that they're looking for, creating a course that delivers the right result and the right transformation, and then choosing a price that represents the value that you're going to be delivering. Recently, I was delivering a strategy sprint with a new client who is looking to create a digital product that they could sell at conferences once they've spoken. And what was really interesting, we went through a process to define what offer they could create so that they could have something to sell.

Karen [00:13:19]:
And I thought what was really interesting was that when we started to talk about pricing, immediately it went to the cheaper end of the pricing spectrum. Now, I know online we see a lot of things for $27, $37, $47, 97. And sometimes it can be tempting to be influenced by that because if we're seeing other people charge it, then of course we must be charging it as well. But as we worked through the session and we dug into what this client could create, and I took this client through a process of working out what the transformation was and why people would buy it and the benefits that they would get from the offer and how that would play out in their life and do all of that sort of groundwork. The actual price that we talked about at the beginning suddenly became irrelevant because what we established was how much of a game changer this offer could be to the right audience. So when we're coming at something with a really low ballpoint, I mean, we're talking like, like $27 for something that's actually life changing. It's such a small amount that doesn't represent the value of what is being offered. And so we have to be really careful that we're not playing it safe and we're not being influenced by what seems to be market conditioning.

Karen [00:15:00]:
If you are creating something that offers immense value that really does help your audience to create change in their life, then selling something at $27 is just not going to do what you're offering much justice because it's going to make it seem really cheap. And then that thought process of, well, at 27, it's not really going to offer any great result because it is so cheap. So that's why I sort of say that the transformational piece is such an thing to really understand. And when I spend time with new clients that have priced up offers and they've struggled to make those sales, nine times out of 10, it's because they're not understanding what transformation that's selling. It's almost like they focused on what the course is how many modules, how many lessons, you know what, what they may get at the end. And that's about it. And so they, they've stuck tag, but it, but it just hasn't done them any good because it isn't demonstrating the value that the course is actually delivering. And then of course that plays out in the marketing because if you don't understand how your course helps and the results it delivers and that transformation, then you can't communicate it effectively when it comes to your marketing.

Karen [00:16:40]:
So you so you're going to find it really difficult to build that connection with your audience and to build that trust so that they know that your course is what they need in order to resolve the problems that they're experiencing. So if I was to encourage you to spend time doing any one thing, it would be to really understand what the transformation is that your course is offering. Because as I demonstrated with the course that helps somebody to lose weight. It can be huge, it can be life changing, it could be game changing. And that's the point. So here's your action step for this week. If you have an online course or a digital product that you're looking to sell, I want you to pick a starting point for this product. I want you to choose something that feels aligned, that you feel confident with, and is fair for the value that you're going to be delivering.

Karen [00:17:46]:
And if you would like some help figuring this out, then I've got resources.

Karen [00:17:51]:
To help you get started.

Karen [00:17:53]:
Head on over to my website www.sellyourbrillianceonline.com/community because I've got free tools, free resources that are designed to help you get get started online so that you can actually turn your valuable expertise into income. Thank you so much for tuning into today's episode. I hope it gave you some clarity and sparked some new ideas to help you move forward in your business. 

Now, if you found this episode helpful, please do share it with a friend or a fellow entrepreneur who's building their online business because this episode could be what they need to listen to today. 

And if this episode has you thinking that you're ready to start turning your expertise into income, then I would love to invite you to join my free community, the Digital Creators Community hub where you'll get free tools, free resources, masterclass replays to help you get started online. Head on over to www.sellyourbilliansonline.com/community. I will be back next week with another episode, but until then, have a wonderful.

Karen [00:19:11]:
Thanks for tuning in to today's episode of Online Business uncovered. If today's conversation has sparked an idea or gave you a dose of clarity, then please make sure to check out the show notes for all the links and resources mentioned. New episodes land every Thursday, so hit, follow or subscribe to stay in the loop. And if you're loving the show, a.

Karen [00:19:33]:
Quick rating or review goes a long.

Karen [00:19:35]:
Way in helping more brilliant entrepreneurs like.

Karen [00:19:37]:
You find this show.

Karen [00:19:40]:
Until next time, keep showing up, keep sharing your brilliance. And remember, freedom in business is possible, and it starts with taking the next right step.