How should you price your cohort-based course?

How should you price your cohort-based course?

Topic
Pricing
Publish Date
Apr 3, 2021
Must-Read
When it comes to answering this question, many course creators get stuck in analysis paralysis.
And while I can't give you a definitive answer to what you should charge, I can share two lessons I've learned from Billy Broas, who has coached course creators over the years on their pricing.

Price is a signal

Imagine you're running late for your friend's dinner party. On the way, you make a quick stop at the local wine shop, so you don't turn up empty-handed. Which wine do you choose?
You'll probably go for an expensive one because the odds are much higher that it'll be good.
We associate higher prices with premium quality, which turns price into a shortcut to making buying decisions.
Like fine wines, cohort-based courses are premium offers and aren't meant to compete with Udemy or Skillshare courses. They're more comparable to 1:1 or small group coaching.
Charging a higher price allows you to provide a premium experience and serve your students in the best way you can.

Pricing is a journey

Some course creators believe that once they've set a price, they're locked in forever.
But the truth is, you can always change it.
Given that you're in this for the long run (and don't buy into the "get rich quick" mentality), you could plan your pricing over multiple cohorts.
Start lower to test the waters. Then raise your price from cohort to cohort to a level you're happy with. The price you charge should ultimately allow you to give your students your all.
 
For now, the most important thing is making a decision so you can move forward and launch your course.
 
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