Are you a small business owner looking for ways to increase your sales? Having an effective pricing plan is essential for any new or growing business. But what exactly does that mean, and how can you create one?
This blog post will guide you through the basics of creating a lasting and profitable pricing plan that works well with Teachable – an online platform specifically designed to help businesses sell courses, digital products, memberships, and more.
We’ll discuss strategies and resources to get your product or service off the ground running as well as tips on increasing your sales over time.
Whether you’re just starting out in the world of ‘teachables’, or already have an established presence on this powerful online learning platform – this article has something invaluable in store for everyone!
How to make money with an online course business
This is a relatively new business model, but it has quickly become a popular way for entrepreneurs to generate multiple streams of income online.
Creating an online course based on your expertise or passion can be a great way to monetize the knowledge you already possess.
Create the course with Teachable and then leverage their platform to market and sell it. Once you’ve figured out what you can teach, the next step is setting a pricing plan for your course.
Teachable Pricing Plans;
Teachable Pricing- Free Plan
Teachable’s Free Plan offers users a great way to test out their platform. With the free plan, you are able to create courses and digital products with no upfront cost. This plan is perfect for those just getting started in the world of teaching online.
Teachable Basic Plan
Teachable Basic Plan, this plan is perfect for entrepreneurs and businesses just starting out.
This package includes basic features like customizable payment options, unlimited students or customers and access to customer support.
The pricing of this plan depends on how many courses you’re selling – with each course costing $29/month or $290/year when billed annually .
Teachable Pricing- Professional Plan
This plan is for entrepreneurs and businesses looking to grow their online presence more significantly.
The Teachable Professional plan includes all the benefits of the Basic Plan plus additional features like a customizable checkout page, integrations with third-party tools, and access to advanced analytics.
The cost of this package depends on how many courses you’re selling – with each course costing $99/month or $990/year when billed annually.
Teachable Pricing- Business Plan
The Teachable Business Plan is the most comprehensive plan, offering all of the benefits of Professional plus additional features such as bulk student enrolment, unlimited admins and team members, and priority customer support.
The pricing of this plan is variable and depends on the number of courses you’re selling – with each course costing $249/month or $2,490/year when billed annually .
It’s important to remember that all plans are eligible for discounts if your business sells more than five courses at the same time.
Create Online Courses
Creating an online course isn’t as complicated as it may seem. There are plenty of resources available to help you create a comprehensive, professional-looking course that’s easy for your students to understand and follow.
In addition to Teachable’s own library of tutorials and helpful tips, there are also a number of third-party course creation platforms that offer additional features and support, and all the features you need to succeed.
Whether you’re a beginner or an experienced online course creator – there are plenty of resources to help you get the job done!
How to sell online courses
Now that you know how to create an online course, it’s time to figure out how to market and sell your product.
Promotion is key when it comes to selling courses. Aside from using social media platforms like Twitter, Facebook and Instagram – blogging can also be a great way to get the word out about your offering.
Another great way to get the word out is by guest blogging on other websites or collaborating with influencers who have an established audience in your target market.
Additionally, Teachable offers helpful marketing and promotional tools such as automated emails, custom domains, and more.
These strategies can help you reach a wider audience, increase interest in your course, and ultimately boost sales.
Exploring Pricing Options – Learn how to research the best pricing options for your business
In the business world, pricing is one aspect that can make or break your success.
While setting a price may seem like a simple task, it is crucial to research and analyze different pricing options to ensure that you are setting the best possible price for your product or service.
As a business owner, you want to maximize your profit while also attracting and retaining customers. This is where the art of pricing comes into play.
By exploring pricing options and diving into customer behavior, you can set a price that is both attractive to your customers and profitable for your business.
Don’t leave the fate of your business to chance – take the time to research and strategize your pricing options.
How To Decide How Much To Charge?
Setting Your Prices – Tips and strategies to maximize profits while still offering competitive prices.
As a business owner, setting your prices can be one of the most challenging tasks. You want to make a profit, but you also want to remain competitive in the market.
Don’t worry, though! There are several tips and strategies that you can use to ensure that you maximize your profits while still offering competitive prices.
Firstly, consider your costs and the value that your product or service provides. You don’t want to undervalue your work or charge too much that it turns potential customers away.
Additionally, you can offer bundle deals or discounts to incentivize customers to buy more. Lastly, regularly review and adjust your prices as necessary to ensure that you’re staying competitive and profitable.
With a little strategy and planning, you can set prices that benefit both your business and your customers.
Creating a Pricing Plan – Determine the right model, plan, and features for your product or service
Pricing your product or service can be a daunting task, but with the right approach, it can be a key factor in driving your business’s success.
That’s why it’s crucial to determine the right pricing model, plan, and features that align with your customers’ needs and expectations.
A well-crafted pricing strategy can help you not only attract new customers, but also retain them in the long run. By providing value for their investment, you build trust and loyalty with your customers.
So, take the time to analyze your competitors and gather insights from your customers to tailor your pricing plan that will fit your target market’s budget and provide them with the best possible benefits.
Let’s create a pricing plan that doesn’t just work, but elevates your business to greater heights.
Promoting Your Prices – Explore different marketing techniques to get the word out about your pricing structure
In the world of business, pricing strategies can make or break a company. No matter how great your products or services are, potential customers may never know if your prices aren’t communicated in the right way.
That’s why it’s crucial to explore different marketing techniques that can effectively promote your pricing structure.
From eye-catching advertisements to compelling social media posts, there are countless ways to showcase your competitive prices and entice customers to choose your business over the competition.
By using persuasive language and creative marketing strategies, you can effectively promote your prices and position your business for success. Don’t let your prices go unnoticed – start exploring new ways to promote them today!
Tracking Results – Measure the success of your pricing plans by tracking customer feedback and sales figures
Measuring the success of your pricing plans is crucial for the growth of your business. One way to achieve this is tracking customer feedback and sales figures.
By regularly monitoring these two key indicators, you can gain valuable insights into what works and what doesn’t. Are customers happy with your pricing?
Are they buying more or less of your product? These questions can be answered through tracking, and the data can guide you towards making informed decisions about your pricing strategy. Don’t leave the success of your business to chance. Take control by tracking your results today.
Adjusting & Refining Strategies – How to adjust your plan as needed in order to stay competitive and keep customers happy
To stay competitive in today’s fast-paced world, it’s important to have strategies that are flexible and adaptable.
As businesses constantly evolve, it’s crucial to refine your plans as needed to ensure that you’re meeting the needs of your customers and staying ahead of the competition.
By adjusting your strategies as new information becomes available or shifts in the market occur, you can continue to provide the best products and services possible.
This not only attracts new customers, but it also keeps existing ones happy and coming back for more.
So, how do you stay ahead of the game? Keep an eye on the market, gather feedback from customers, and be open to making changes as necessary. With a solid plan in place and a willingness to adjust, you can succeed in today’s ever-changing business landscape.
Real World Strategy Template
Step 1- Learn Pricing Basics
Aim: Understand the basics of pricing can help you make better-informed decisions when it comes time to set prices.
Teachable offers several pricing plans to fit the needs of all businesses. Their plans range from free options to premium packages with all the bells and whistles.
In this section, you will receive an in-depth look at the different plans offered by Teachable and how each one can benefit your business.
We’ll also explore features such as quizzes, course completion certificates, admins with admin-level users, advanced reports, custom user roles, free plan offers, free trial options, PayPal integration for instant payouts, and more.
- Quizzes are a great way to test your student’s understanding of the material. With Teachable, you can create multiple quiz types including multiple choice, true/false, and fill-in-the-blank questions.
- Course completion certificates are also available for course creators on Teachable. This feature allows you to award certificates to users who complete all the courses in a program or bundle.
- Admins with admin-level users can monitor and manage course creation, enrollment, and user accounts. They also have the ability to customize their dashboard and track student progress.
- Advanced reports allow you to measure the performance of your courses and make data-driven decisions about how to improve them. You can view detailed insights on course completion, student engagement, and more.
- Custom user roles let you set up different levels of access for your users. For example, you can assign instructor roles to allow instructors to post content and answer questions in the discussion forums.
- The free plan offers to let you offer courses on Teachable without charging a fee. This is a great way to introduce potential customers to your courses and build a loyal following. Free trial options let users try out Teachable before committing to a subscription plan. This feature is especially helpful for customers who may be hesitant about investing in your product or service.
- PayPal integration lets you offer instant payouts for completed course purchases. You can also set up recurring payments for loyal customers.
Step 2- Marketing & Promoting Your Product or Service
Aim: Get tips on marketing strategies, Mailchimp plus & coupon codes
Once you’ve created an effective pricing plan and chosen the perfect Teachable plan for your business, it’s time to start promoting your product or service.
In this section, we’ll provide helpful tips on marketing strategies and key tools such as Mailchimp plus and coupon codes to help you get the word out about your business. We’ll also cover topics like building an email list and creating a referral program that can further increase sales.
- Mailchimp plus is a powerful platform that can help you create and send effective emails to your customers. With its intuitive design, you can easily craft well-written messages with engaging visuals.
- Coupon Codes are a great way to reward customers and encourage them to come back. By offering discounts or special deals, you can attract new customers while delighting existing ones.
Plus, it makes it easy to track email open rates and analyze campaign performance so you can see what works best for your business.
Step 3- Tracking Results & Adjusting Strategies
Aim: Learn how to monitor customer feedback & sales figures and make adjustments as needed
Once you’ve established your pricing plan and begun marketing it, it’s important to track results in order to measure success. In this section, we’ll look at the best ways to monitor customer feedback and sales figures and make adjustments as needed.
We’ll explore topics such as analyzing customer feedback, understanding sales trends and using data to drive decisions.
By regularly monitoring these two key indicators, you can gain valuable insights into what works and what doesn’t. Are customers happy with your pricing? Are they buying more or less of your product?
These questions can be answered by tracking customer feedback and sales figures. Armed with this information, you can make tweaks to your strategy as needed in order to stay competitive and keep customers happy.
Step 4- Set Goals & Objectives
Aim: Establishing goals and objectives helps you stay focused on the big picture and prioritize tasks to help you reach your desired results.
When setting goals, it’s important to be realistic and achievable. This means breaking down large goals into smaller, actionable steps.
By establishing goals and objectives, you can stay focused on the big picture and prioritize tasks to help you reach your desired results. For example, if your goal is to increase sales by 10%, then you may need to create a strategy for improving customer acquisition or launching a targeted marketing campaign.
Step 5- Other Pricing Considerations
Aim: Understand other pricing factors you need to consider to stay competitive
In addition to understanding the basics of pricing and marketing your product or service, there are several other factors that you should consider when creating a pricing strategy. In this section, we’ll look at topics like competitive pricing models, target audience, scaling your business and more.
Competitive pricing models- Researching competitor prices can help you stay competitive in your market and ensure that your pricing plan is both attractive and lucrative. Perhaps offer a Value Pricing Strategy or a No Frills Pricing Strategy.
Target Audience- Do some research on your target audience to determine the best price points for different customer segments. This will allow you to tailor your pricing plans accordingly and maximize revenue.
Scaling Your Business- As your business grows, you’ll need to adapt your pricing plan accordingly. This means adjusting prices as needed in order to stay competitive and remain profitable.
Creative Pricing Strategy- Think outside the box when creating pricing plans. Consider offering different packages to customers or giving discounts during certain times of the year. By exploring creative options, you can stand out from competitors and drive more sales.
Attractive Vs Affordable Pricing- Decide if you want to focus on making your product attractive or affordable. This will determine how you position your product in the marketplace and determine what type of pricing plan works best for your business.
Encouraging The Impulse Buy- Make sure to include incentives that encourage the impulse buy. Offering discounts, free shipping or even a satisfaction guarantee can help increase sales and boost customer loyalty.
Step 6- Review & Refine Your Plan
Aim: Taking time to review your strategy and refine it needed will ensure your pricing plan is profitable and successful.
Once you’ve established your pricing strategy and begun marketing it, it’s important to review and refine it periodically. This means taking time to evaluate customer feedback, sales trends, competitive offerings, and more in order to identify areas for improvement.
By taking all of these considerations into account, you can ensure that your pricing strategy is in line with the market and that it meets the needs of your customers. This will help you stay competitive and increase sales while still providing great value to your customers.
Similar Options to Teachable Pricing Plans
Research similar companies to Teachable and understand how they differentiate themselves in the market
When it comes to online course platforms, there are a variety of options available. Some of the most popular ones include Udemy, Skillshare, Kajabi, Thinkific, and CourseCraft. Each of these platforms offers different features and pricing plans, making it important to compare them before deciding which one is the best fit for your business.
Udemy offers a wide range of courses that can be advertised on their platform and promoted via their marketing channels. Their pricing plans are competitively priced and they offer a generous revenue share with instructors. They also have a large library of courses created by other instructors, which can be a great way to find content that fits with what you need.
Skillshare is another popular online course platform. It’s one of the few platforms that offers an unlimited number of students in each class and allows for paying students to access the content without enrolling in a course. They also have a limited selection of courses, but each course is well-structured and organized.
Kajabi offers a variety of features that allow you to create an online business quickly. They have monthly plans with no up-front costs, making them attractive for those just starting out in the online course business. They also offer advanced customization options, allowing you to create a course that is tailored towards your target audience.
Thinkific offers one of the most comprehensive packages for creating and managing online courses. They have powerful marketing tools that make it easy to promote your course and attract new students. They also offer plans with payment processing built-in, making it even easier for instructors to start earning money.
CourseCraft is similar to Teachable in that it allows instructors to quickly create and manage their courses. Their platform has a range of features, including customizable course pages, interactive quizzes, and built-in video hosting capabilities. They also have several pricing plans available to suit different budgets.
Ultimately, the best platform for you will depend on the type, of course, you are looking to offer and how much money you want to invest in it. Research each of these platforms carefully before deciding which one is the best fit for your business. With careful research and comparison, you’ll be able to find a platform that meets your needs and allows you to create and successfully launch your online course.
Is there a free teachable plan?
Yes, there is a free plan available on Teachable!
The Free Plan includes 1 course, unlimited students and access to basic tools such as Course Builder, Payment Processor and Emailing.
With the Free Plan you can also offer coupons and discounts for your courses.
Can I change my pricing plan?
Yes, you can change your pricing plan at any time.
To do this, you’ll need to log into your Teachable account and navigate to the Pricing tab in your course settings or visit the My Courses page and select the Change Plan button next to the course that needs a new pricing plan.
From here you can explore all of our available plans and pick one that suits your needs.
How much is teachable per month?
Teachable pricing plans: the Free Plan, Basic Plan and Pro Plan.
The Basic Plan starts at $39 a month and the Pro plan starts at $99 a month.
Both plans include additional course features such as quizzes, analytics, custom domains and much more. With either of these plans you also have access to our 24 /7 customer support.
What is the best pricing plan for me?
The best pricing plan for you depends on your specific needs and requirements.
The Free Plan is great for those just getting started with course creation, while our Basic and Pro Plans have additional features that can be beneficial to more experienced creators.
If you’re not sure which one is best for you, our customer support team can help guide you to the perfect plan.
What percentage does teachable take?
For each course sale, Teachable takes a 10% transaction fee. This is automatically deducted from your earnings and will be reflected in your monthly payout reports.
In addition to this, payment processors like PayPal and Stripe may also take additional fees for processing payments. These fees are typically around 3-4%, but can vary depending on the processor and country.
Can you make money on teachable?
Yes, you can make money on Teachable! With our Pro Plan and the revenue split feature, you can even invite an affiliate or partner to help promote your courses.
This is a great way to expand your reach and increase course sales.
Additionally, by creating high-quality content, offering coupons/discounts, and utilizing additional marketing strategies such as social media and email campaigns, you can maximize your earning potential.
Do they take care of everything from payment processing and customer support to web hosting?
With the Pro Plan, you can even invite an affiliate to help promote your courses and earn additional income.
By creating high-quality content, offering coupons/discounts, and utilizing additional marketing strategies such as social media and email campaigns, you can maximize your earning potential on Teachable.
Teachable is an all-in-one platform that lets you create and sell your own courses online.
With a range of pricing plans, they handle everything from payment processing and customer support to web hosting.
Depending on the plan you choose, features such as course analytics and custom domains are also available. Teachable is a great way to share your knowledge and make money online.
How To Handle Complaints And Returns?
Teachable has an easy-to-use refund policy that allows customers to request a refund if they are unhappy with the course. With a 30-day refund policy, 14-day, money-back guarantee , and a 7-day trial period, customers are able to get their money back if they’re not satisfied with the course.
If you receive a complaint or return request, you can contact our customer service team, who will review each case to determine whether or not a full or partial refund should be issued.
It is also recommended that you handle customer complaints or return requests promptly and professionally to ensure the best customer experience.
By offering quality content, excellent customer service, and reasonable refund policies, you can create an enjoyable learning experience for your students while also protecting your business.
Additionally, by utilizing Teachable’s range of pricing plans, you can give yourself more control over what products you offer and how they are priced.
This can be a great way to maximize your earning potential while also providing excellent education materials for customers.
You can also use Teachable’s analytics features to track customer engagement, sales, and course completion rates so that you can better understand the success of your courses and make adjustments accordingly.
Overall, Teachable is an excellent platform for online course creators to use in order to maximize their earning potential and provide great education materials to customers. With its range of pricing plans and features, it’s sure to be a great fit for any business.
How to Deal With Competition?
There will always be competition in the online course market, regardless of your topic or niche. To stay ahead of the competition and increase your sales, it is important to constantly review and improve your content so that you remain relevant in the field.You should also keep up with industry trends and regularly update your courses to ensure they are up-to-date with the latest information. Additionally, use analytics to track customer engagement and sales so that you can identify any areas where you need to improve or make adjustments.Finally, utilize additional marketing strategies such as social media and email campaigns in order to reach a wider audience and generate more course sales.
In addition to Teachable, there are also a number of other course creation platforms available. These include;
Udemy offers hundreds of courses in a variety of topics, ranging from business and finance, to photography and design. With transparent transaction fees and support with the course creation process, Udemy is a fantastic alternative.
Kajabi is an all-in-one platform that allows users to create, market, sell and deliver online courses with ease. With multiple pricing plans, this is an accessible choice.
Thinkific is another popular course creation platform that offers a range of features like course building, marketing and monetization tools. With free and basic plans, new course creators have options!
When deciding on the right pricing plan for your product or service, it’s important to be creative and proactive with your approach. Working with a budget in mind and doing thorough research will help you come up with options that make sense for your business. Plus, being mindful of new marketing trends and innovative features for customers will only serve to increase your success rate. Finally, keep track of your results so that you can assess their effectiveness and refine or adjust your plans accordingly. With these tips from Teachable Pricing Plans: A Clear Guide for New and Growing Businesses in mind, you are now armed with the knowledge to create an effective pricing strategy for your business!