Here we will be guiding you through the Udemy Pricing Strategy so that you can get the maximum amount of sales and maximum profit.
Udemy Pricing
When you create your courses on Udemy you should choose however you wanna price it. So you wanna make it cost $1.99, $1 or you want to make it free.
There are a lot of different pricing options for you but only to pricing options are right.
We are gonna tell you exactly what you should choose from all of this and how should price your course and why this is the best. So let’s answer it right away.
When there is an only reason for why you should price your courses otherwise.
So while pricing your course you have really just two options.
You should either make it free to gather as many students as possible and as many reviews as possible and as much social progress possible or it should price it only for $19.99 the minimum price available.
Let me explain why you say Udemy is the biggest online learning platform in the world by far.
They have over 15 million students already.
With this 50 million students come data of the students.
They know exactly what the students are willing to buy, what they’re buying, what they’re looking for, and exactly how much they’re willing to pay or how much they can pay.
For that reason, they’re running these huge marketing campaigns all over the Internet.
Not just Udemy, on all over the major sites to market those courses and to make sales as big as possible.
What you would realize is that and what you probably know as an instructor that Udemy is constantly running sales meaning that no matter what price you put on your course.
Udemy Pricing Sale
I think it should always be below 18.99 and the minimum price that you will sell your courses will be $9.99.
Always, no matter what, so why is that?
That is because you didn’t notice exactly that the students, the absolute majority of the students, who are coming to the platforms are not willing to pay more than $20 per course.
They know exactly that there are students and there are people who are willing to pay more or maybe much more than that but they know exactly who those students are.
How many of them are and what is their ratio compared to people who are willing just to pay less.
They know exactly that they’re more people who are willing to pay less than 20 bucks.
And with that, they are making a huge amount of money but just a sheer amount of courses sold despite they might be making just a few dollars on each course.
They are selling so many courses that profit is becoming unbelievably high for them.
They know that and you should understand that as well.
So for that, pricing your courses with $1.99 is simply stupid.
If they know that these courses will not be sold for 100 and you should know this 100% as well.
So why you should price your course for $19.99?
You see despite you being running their sales, most of the time the sales are not running all the time.
And this time between sales is within one to three days.
This time the courses are sold for their regular full price but that doesn’t mean that students and people are not coming on the platform during that days.
They’re still coming there but when they see the huge prices, most likely that they will not buy any of the courses unless they find really good-rated courses for the cheapest price possible.
When they compared the two courses which one cost $1.99 and another costs $19.99 they will always buy the cheaper one no matter what.
They will just buy the cheaper one because it looks like a good bargain and they are already there to buy some courses.
Then they will just buy the course regardless.
If your course is priced 19.99, your queer courses just will not be sold no matter what.
There is zero chance that your course will be sold so with a pricing of $19.99 between the sales, you have at least some chance that your course will be sold for the lowest full price available.
When the sales are running, your course that is priced at 19.99 USD will cost the same price as the others.
You see where the correlation is. No matter how much price for all the sales your courses will be sold for.
The same price and when there are no sales your courses will be far likely to be sold than the higher-priced courses plus Udemy is not giving all courses at the same price.
Meaning that if your courses are being sold more, there is a higher chance that your course will cost a slightly higher price even during the sales than any other courses.
For example, if you have a $19 course and another one has a $200 course and your courses are being sold far more during the sale, where every other course is like for 13 dollars, 200 dollars, 40 dollars your course might be sold for 14 or 15 dollars.
Yes. It might not sound very different but in this case, when people have two choices to buy a 15 dollar course or $13 course, they will see the 15 dollar course is a better value because this one costs more it probably should be better.
That’s how Udemy works.
Udemy knows that students do such things and they do such things and for that reason, you should follow their example as well.
Udemy Pricing promotions
Just a few days ago when no sales are running, I sold 3 of my courses for the full price of $19.99 with organic sales which means that I got 30 dollars just from 3 sales without any promotion or anything.
That means that there is a very high chance that your courses will be sold for $19.99 more than any other price.
Now let’s go to the only exception from this rule.
The only other time you should sell your courses for higher prices or the highest possible prices or the prices outside of 19.99 is when you have your audience that you are selling your courses to and you are mainly selling your courses from your promotions.
When you opted out from Udemy sales meaning that no matter what your courses will be priced, you’re promoting your courses to your own audience.
Meaning that you are using Udemy as just a course hosting platform but not a marketplace.
This is the only time when you should sell your courses at a product price that is different than 19.99.
When I started my Udemy sales I was looking for this information vigorously and unfortunately, I was not able to find it because people are not willing to tell me about the pricing order.
They just don’t understand how it works.
I had to go through and learn this my way and I did and I learned this because that day I put my courses for the price of $19.99, my sales started going up.
Here you can learn more about Udemy Pricing Strategy.
You can visit the official Udeler site to download the Udemy downloader app for free.
You may also want to know about the Udemy Instructor Revenue Share Model.