Education

How to Create and Monetize an Online Course

Are you an expert in any area of you have unique skills other people are interested in learning? The great news is that you can earn money online by creating online course. You can be an experienced educator or an individual who offers DIY ideas or life advice; you can use your knowledge and passion on a subject to build an online business.

It is possible to generate revenue from online courses in an infinite number of ways. And all of them suit different purposes. For some tutors, it might take longer to earn a profit, whereas, for some, it takes very less time. Every course creator is going to have different goals and motivations when monetizing their online course.

We understand this and have included different ways you can make money with your online courses. First, let’s explore the steps to creating an online course.

Find your expertise for your online course

Get the first things right. The most challenging thing most creators face is clearly identifying the areas they have expertise. If you are doubtful about what course to create, start by making a list of a few subjects you are knowledgeable about. You can choose any topic, including your work, hobbies, education, or life experiences.

If you have expertise in a specific industry, that is the area you must capitalize on. Even if you are no an expert in a specific industry, you can just create courses on any of your hobbies or general topics like parenting, cooking, traveling, etc. As you go through the process of choosing a subject to create online courses, consider how it would be valuable to your learners. Although you have expertise in an area of the subject, there must be valuable demand among the topic as well if you want your online courses to sell like hotcakes.

Creating an online course idea

Once you have finalized the niche you want to create your online courses around, come up with a list of topics you have expertise on, and you are knowledgeable about. The topic must also be in demand among your target learners so that they would be willing to purchase your online courses. Perform research to find out the challenges your learners face so that you can create topics that serve as solutions for their problems.

Start creating your online course

To begin with, prepare an overall structure for your online course. Prepare a blueprint for the entire course, which will help you to complete the course in the most efficient way.

Divide your online courses into modules and create lessons for each module. Implement a combination approach where you explain the concept using images, infographics, text-based content, PDFs, and videos to make it easy for your learners to grasp the concept.

Convey the main idea of your online course and then organize all the supporting content to validate your main idea. Make sure you stay up to the point with each concept and not overwhelm your learners with too much information.

Creating an eLearning site

If you want to make better profit by selling online courses, you must consider building an eLearning site. A course management software can simplify the process of selling your online courses. You can use any professional tutoring software like Pinelarn to create your own customized eLearning platform which features all essential functionalities required for creating self-paced online courses.

Monetization strategies 

Selling online courses is a profitable business idea if you implement the right monetization strategies. As we mentioned, there are plenty of ways to make money through online courses. However, the revenue strategies you follow must align with the preferences of your learners.

Here is how you can earn creating online courses:

  • Donations

Setting up donation buttons in your eLearning website allows users to sponsor and contribute to your platform to help you continue offering eLearning products and services. While it is not a stable source of income, it can be an add on method you can integrate along with other monetization strategies.

Pros

  • As donations are given solely based on members’ interests, and there is no fixed amount, the amount you get can be huge.

Cons

  • Not a stable source of income.
  • Subscriptions

One of the effective methods to monetize your online causes is to sell them on a subscription basis. Learners will be only able to access the entire courses bundle b paying a recurring fee. According to how you distribute your courses, learners are commonly charged on a monthly or yearly basis. Here are some specific strategies you can adopt in a subscription model.

VIP access

Allow your members to enjoy premium access to exclusive online courses and perks. Premium access is generally implemented as a one-time payment.

Corporate account

This is a special type of subscription model that allows multiple access to users or a group of users. You can offer batch discounts, depending on the total number of subscribers associated with the account. Udemy also has its own exclusive corporate service called Udemy Business.

Pros

  • Brings in a stable source of income.
  • Can offer more value to your learners.

Cons

  • You have to ensure that you can constantly provide updated online courses.

Pay per course

Pay per course is a basic monetization model where you can offer online courses to your learners on a pay-per-course basis. You can also provide free courses to your learners along with providing premium content for advanced courses. Members still get access to premium content, but only if they want to.

Pros

  • Learners can access a personalized learning experience by having the flexibility to choose what to learn.

Cons

  • Not a stable income source, it can depend on the quality and relevance of your online course.

Selling additional learning content

Selling extras is another way to make an additional income from your eLearning website. Support learning materials like online learning tools, course software, PDFs, eBooks, Printable revision materials, etc., can be sold as extras. If you are able to create eLearning resources that offer great value to your students, you can make great sales.

Pros

  • You can leverage your eLearning site to sell additional learning content.
  • Additional content can be bundled along with subscriptions

Cons

  • All learners might not be willing to pay for additional learning resources.

Affiliate marketing

Your eLearning business can make money by running affiliates on your site. Join affiliate marketing programs to set up links that will redirect your learners to partner sites, and when they purchase something, you receive commission for the same.

Pros

  • Revenue generated purely from your incoming traffic.
  • You don’t have to integrate any payment gateways.

Cons

  • Finding the right affiliate partners can get challenging.

Advertising

Implementing online adverting on your eLearning site or online courses using web banners or video ads can be a great source of income.

Pros

  • Implementation is quite easy
  • Learners can access online courses for free.

Cons

  • Ads can trigger learners to leave your eLearning platform.
  • To start getting a stable income, you need to have a large number of incoming visitors.

Conclusion

Creating online courses is not easy as it sounds, but it is a rewarding career to share your knowledge with learners who wish to attain it. Selling online courses on your eLearning courses on your own eLearning platform can be more beneficial than selling it on an online learning marketplace. The experience can be rewarding, bringing in satisfaction as an educator and profits to power your eLearning business.

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