Putting a price tag on your coaching package or online course can be paralyzing sometimes.
There’s a massive amount of pressure to get it right.
If you charge too much, you might make no sales.
If you charge too little, you still might make no sales AND risk branding yourself as cheap or desperate.
Over the past 12-18 months I’ve tested (in my own biz) and invested in learning from countless leaders in the funnel hacking, online course creation, membership building and coaching spaces. And one major topic that everyone prioritizes from the start, is price. Not because building a business is only about money. But because pricing can make or break your success and determine whether or not your idea is profitable.
I recently put together an at-a-glance look at the ‘going rates’ for online courses and coaching programs in 2021.
Take it with a grain of salt, add a side of inspiration, and do with it as you will.
So much should/could you charge for your online course or coaching package?
The going rates for online courses & coaches, at a glance
Prices and packages almost always relate directly to where your clients might be on your Value Ladder (aka, your real business plan). And since Value Ladders usually have 3 to 5 levels, here’s how that tends to look in 2021.
Level 1) Free Offers (usually in exchange for email address)
- The PDF giveaway
- Published Book
- Access to a free Facebook Group for like-minded audience experiencing same challenges as your target client (proceed with caution, this can be a lot of work)
- Video teachable
- Free group teachable, live
- Week long challenge, pre-recorded, no live components
- Some other way to deliver a quick win which will nurture a new relationship with a potential client you didn’t know before
Level 2) Front Door, Minimal Risk, Entry Offer (Lowest Price Point) $27-$97
- 7-14 Day Challenge (Quick win, home study) $47
- One Week Group Coaching Challenge $47
- Huge 2 Day Online Conference $97
- One Month Daily-Coaching/Challenge $97
- Weekly Group Collaboration or Coaching Call $22-47/month
Level 3 & sometimes 4) High Value Offer $497 – $1997
This is often the primary offer that the business owner will focus on selling most.
- Online Course with copious amounts of videos, downloadable resources, homework, communication, community, some one-to-one (should be at least $500, usually $997-$1200)
- Live Event/Retreat ($997-1997)
- Some One-to-One Coaching, often with an additional group component ($997+)
- Weekly one-to-one coaching sessions for 1 month ($497+)
Level 4 or 5) Top Level, Best Available Offer for VIPs $1997-$10,000+
- Monthly Next level monthly package of $297/month x 12 mths (up from the previous $97/month x 12)
- Elite Mastermind Group – for top achievers or up & coming experts within your niche $10,000+
- One-to-One Coaching for 2-3 Months ($1997+)
- Hands-On Done-For-You Services (which is basically outside the scope of this article, but worth mentioning) ($1997+)
7s are a thing.
For whatever reason, the theory is that prices ending in 7 feel more comfortable to some. I guess a lifetime of .99 price endings made us all wary. I end some of my prices in a 7, others in 0. But overall, I’m not convinced it makes a big enough difference to worry about. Test this on your own prices and see if you agree.
What will work for your biz in real life?
As I said, everything can and should always be taken with a grain of salt and a side of inspiration.
At a glance, the above guide is a pretty good representation of the so-called ‘going rates’ in the online course and coaching space right now.
But is your business the exception to the rule most of the time? If so how and why?
How close you get (or want to get) to the pricing structures above will totally depend on your specific business. IF they’ll work for you in reality or not, may depend on how you sell your offers, who you’re selling them to, your brand’s presence & rep, offer inclusions and more.
Wed. Nov 3: Pricing Lab!
I am hosting a FREE Pricing Lab, live, next Wednesday Nov 3, 11am – 12pm . It’ll be a teachable + collab session for coaches and/or online course creators who would like to:
- dive deeper into the variables that can make or break pricing your online courses and/or coaching products
- collaborate or compare with other entrepreneurs
- price your products in a way that works for you in real life