When I created my first online course, I agonized over one question more than any other: How much should I charge? Pricing my course felt like a high-stakes gamble. Too high, and I’d scare potential students away. Too low, and I’d undervalue my hard work. And then there was the allure of offering it for free to build an audience, but would that devalue the content I had poured my heart into?
To crack the code, I decided to turn my uncertainty into an experiment. I tried different pricing strategies—free, low-cost, and premium—to see what worked best. Along the way, I learned some surprising lessons about the psychology of pricing, the value of my expertise, and how to balance accessibility with profitability.
Here’s my journey of mastering the art of course pricing, the results of my experiment, and tips to help you decide on the right price for your own online course.
The Fear of Charging for My First Course
When I was ready to launch my first productivity course, I felt an overwhelming sense of imposter syndrome. Who was I to charge people for this knowledge? Even though I’d spent weeks creating the content, filming videos, and designing worksheets, the idea of asking for money felt… wrong.
So, I did what many first-time course creators do: I offered it for free. My logic was simple—more students would enroll, and their feedback would help me improve. And it worked, sort of. Over 200 people signed up in the first month, which felt like a huge success.
But there was a catch.
The Downsides of Offering a Free Course
Out of those 200 sign-ups, only about 20% completed the course. Many students never even started it. I realized that when something is free, people often don’t value it as much. There’s no investment, no commitment, and therefore, no urgency to follow through.
The feedback was also mixed. Some students were engaged and appreciative, but others treated it like a throwaway resource. I realized that by offering the course for free, I wasn’t just giving away my knowledge—I was unintentionally signaling that it wasn’t worth much.
My First Paid Course: Testing the Waters
For my second course, I decided to try a different approach. I set the price at $29—a low, accessible amount that felt fair for the value I was providing. My goal was to see if charging a small fee would increase commitment and perceived value.
The results were encouraging. While fewer people signed up (about 50 in the first month), the completion rate jumped to 60%. These students were more engaged, asked thoughtful questions, and left detailed feedback. They had “skin in the game,” and that small investment made a big difference.
The Psychology of Pricing: Why People Value What They Pay For
This experiment taught me an important lesson about the psychology of pricing. When people pay for something, they’re making a commitment. That commitment increases their motivation to get the most out of it. Paying for a course isn’t just a financial transaction—it’s a psychological signal that the content is valuable and worth their time.
I also realized that by charging for my course, I was signaling confidence in my own expertise. I was telling my audience, “This is valuable, and I believe it’s worth paying for.”
Going Premium: My $99 Course Experiment
Feeling more confident, I decided to create a premium version of my productivity course, priced at $99. This version included additional resources like one-on-one coaching calls, personalized feedback, and bonus content.
I was nervous about setting a higher price point, but I wanted to see if offering more value would attract serious learners. To my surprise, 15 people signed up in the first month. These students were highly engaged, motivated, and committed to completing the course. They viewed the higher price as an investment in themselves, and they took the course seriously.
What I Learned From My Pricing Experiments
After testing free, low-cost, and premium pricing models, here are the key lessons I learned:
1. Free Courses Attract Browsers, Not Buyers
Free courses are great for building an audience or offering a lead magnet, but they often lack commitment from students. Use them strategically, but don’t rely on them for your main income.
2. Low-Cost Courses Build Confidence and Engagement
A low-cost course (e.g., $29–$49) can be a good entry point for new course creators. It helps you attract committed students without feeling like you’re overcharging.
3. Premium Pricing Attracts Serious Students
Higher-priced courses (e.g., $99 and up) attract students who are ready to invest in their growth. These learners are more likely to complete the course and value the additional resources you provide.
4. Value Matters More Than Price
Students are willing to pay if they believe the course will solve a problem or help them achieve a goal. Focus on delivering value, and the right price will follow.
Tips for Pricing Your Own Online Course
If you’re struggling to decide how much to charge for your course, here are some tips to help:
- Start With Your Audience: Understand who your students are and what they’re willing to pay. A course for busy professionals might justify a higher price than one for hobbyists.
- Consider the Value You Offer: What transformation or outcome does your course provide? The bigger the impact, the higher the potential price.
- Offer Tiers or Packages: Provide multiple pricing options, such as a basic version, a premium version with extra content, and a VIP option with one-on-one coaching.
- Test Different Prices: Don’t be afraid to experiment. Start with a price that feels right, then adjust based on feedback and results.
- Bundle for More Value: Combine related courses or resources into a bundle to increase perceived value and justify a higher price.
- Provide a Money-Back Guarantee: This reduces risk for students and shows that you stand behind your content.
Why Pricing Your Course Matters
Pricing isn’t just about making money—it’s about valuing your work, respecting your students, and creating a fair exchange of knowledge and commitment. My pricing experiments taught me that the right price is the one that reflects the value you provide and the investment your students are willing to make.
If you’re hesitating to charge for your course, remember this: your knowledge, experience, and effort are worth it. By setting a price that reflects that value, you’re not just selling a course—you’re offering a transformative experience.
