31 Colossal (Yet Underrated) Reasons to Create Paid Courses

31 Colossal (Yet Underrated) Reasons to Create Paid Courses

“Making money is what you have to do to sustain a business”

Lynda Weinman, Lynda.com

You’re powerful. You’re amazing. And you’re driven to share your knowledge with the world. And you have to give yourself the credit you deserve. Free courses are an effective way to get your foot in the door; to help your e-learning venture take off, and to attract the initial few sets of students. 

But the tried, tested, and proven way to grow your online learning business is to create paid content and sell it.

You might think that setting a price for your courses might bring in fewer students. And while you wouldn’t be wrong, the upside is that you’ll see better engagement rates and outcomes. In fact, students are more serious about paid courses. And they help not only help you, but your students too.

Why you should create paid courses

  1. You can earn a revenue or supplementary income of $1k-$5k (if you’re starting out new) and upwards of $10k- $50K per month
  2. You can use your earnings to market your courses and reach out to more students
  3. You become serious about teaching and offer additional services like 1-on-1 sessions, personalized feedback
  4. It’s easy to setup and sell paid courses along with free ones
  5. Because students pay for the overall experience and your guidance
  6. You attract a more serious set of students who expect more from a course
  7. Paid courses convey higher value
  8. Students expect to pay for premium education
  9. Your courses would still be affordable compared to formal university education
  10. You save time by getting rid of uncommitted students and having fewer students to manage
  11. It will bring you fulfillment from your online teaching endeavor

Why students prefer paid courses

  1. Premium courses bring in responsibility and commitment because students have made a monetary investment
  2. Students who want to make a major career change, level up their current position, or supplement their income in a fixed time-duration prefer paid courses
  3. Paid courses help students follow a schedule
  4. Students are happy to invest in their education and it’s cheaper than enrolling in an institution
  5. They’re given a credible certificate of completion
  6. They can reach out to industry experts and career assistants for help and guidance
  7. They prefer having a mentor so that they don’t have to wonder how they’re doing, or deal with uncertainty
  8. Learning becomes predictable with tangible outcomes
  9. Students don’t have to suffer through ads
  10. Discipline comes from the course curriculum
  11. They don’t have to rely on self motivation and course completion rates improve
  12. They are presented a professional course structure and schedule to follow
  13. They don’t need to take up time to create a study plan
  14. Students get additional benefits like support from a peer network of learners 
  15. They get supplementary resources like downloadables or takeaway reference materials
  16. They get hands-on training and the opportunity to work on professionally-made assignments
  17. They are more likely to give you feedback and reviews
  18. They see paid courses as having more value
  19. Students feel a sense of satisfaction by having supported the teaching community
  20. They feel it’s more credible and trustworthy than a free course

It’s interesting to know that on sites like Udemy and Skillshare, less than 10% of courses are free. If you think this is the right way for you, the awesome part is that it’s effortless and free to start selling your courses on Moodle.

What are your thoughts on selling courses? Do you think courses should be free? Or is a fee justified? Let us know, in the comments section below!

1 thought on “31 Colossal (Yet Underrated) Reasons to Create Paid Courses”

  1. Avatar of Ryan Robson

    I’d definitely like to see the report that was provided in the email:

    > Did you know, the average engagement rate for paid courses is 8.4%? That’s nearly 3x higher than the 2.55% for free courses.Did you know, the average engagement rate for paid courses is 8.4%? That’s nearly 3x higher than the 2.55% for free courses.

    Is the data to support this statistic available anywhere? Would be very interested to take a look.

    Thank you!

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