How to price your online yoga course
How to price your online yoga course is a hot topic for so many yoga business owners who have pivoted online. In this post, we are going to dive into online yoga course pricing strategies for online yoga business entrepreneurs.
You might be wondering “How much do yoga instructors make?”. If you create a valuable and scalable online course at a premium price, the answer is unlimited!
It is vital that you feel confident with your price point. It has to be something you are excited about. You need to know in your heart of hearts that you are getting paid the right amount for the value that is inside the course you’ve created regardless of which type of yoga you are teaching.
Whether you price your course low, high or something in between the main thing you need to take from this post is CONFIDENCE.
You have to feel confident with your price point
Online courses are usually priced between $100 and $2,000 but some e-courses can end up being even more than that. So know that you’re not bound by a certain price. It is about the value you are offering to your students.
Don’t fall into the trap of underpricing your online yoga course because you assume no one will buy your yoga course. This is actually counter-intuitive to how people look at pricing!
When people see low prices for online courses, they will assume it’s low quality and won’t be very useful.
You want to charge a price that really conveys the value that you are giving in your e-course.
If your audience deems your course as valuable and necessary, the price will hardly matter. If you are solving a big problem for them or something they really want to learn, they’re going to want to invest money in it regardless of the price.
It obviously has to be within their budget, but the pricing does not matter as much as you think it does. The positioning of your course offering and the value you are giving matters so much more.
You might have a price in mind or maybe you’re wondering how much you could actually charge for it.
Here are a few things for you to think about when it comes to pricing your online yoga course:
These are the considerations you need to make when pricing your online yoga course and the price should reflect these things.
As you can see, it can be appropriate in the right circumstances to charge a premium price for your course!
When you are wanting to charge a premium for your course you need to consider the results you are promising inside your course.
How much time can you save someone to get the same results? Are you saving someone’s health? Improving their relationships? Are you saving someone’s mental health? Some of these savings can be incredibly emotional for people and there is a lot of value in that.
You should base your course price on how much content you are giving and how long it took you to create it.
Anything under $100 is undercharging. For an in-depth and extended course, you should be looking at charging $500 plus.
When you focus on the value of the course and the transformation you are promising, people will buy it. You need to create your course offering to provide an abundance of value to your ideal students.
Put your heart and soul into it and over-deliver on value
Over-deliver so you can charge more and feel confident in the value and transformation that you’re offering. This is one of the best ways to make income as a yoga teacher.
When you price your course at $500 or more you don’t need as many students to reach your income goals.
Let’s say your income goal is $5000 and we’ll say your conversion rate is 2% of your email list, which is the industry average. So 2% of your email list is going to buy your course.
If your course is priced at $500 that would mean 10 people need to buy your course to reach your income goal. That’s just 10 people in the whole wide world!
You would need to have 500 people on your email list to get 10 paying students with a 2% conversion rate.
The easiest way to launch your course successfully is to build a small but engaged email list.
This is people who are genuinely interested in your course content as these are the people you will be launching your course to.
When you have an email list full of ideal students who know, like and trust you, some of those people will convert and go on to buy your course.
Your first launch might not hit your income goal straight away. It depends on how much work you’ve put into growing your email list and how you nurture your sales leads after your launch your course.
There are so many yoga marketing ideas and email marketing strategies to help you build and nurture your email list. The most effective way to build your email list is to have a yoga website with an attractive design and layout filled with opt-in freebies and CTAs (call-to-actions).
Email service providers like Convertkit make it easy to nurture your email list.
Growing a community of engaged ideal students is so important and it is the first step you need to take before you even think about creating and launching an online yoga course.
After you’ve launched your first course, stay focused and give yourself a full year to launch and relaunch. This means you will be able to get feedback and improve your offering before launching it again.
If you don’t hit your course revenue goals the first time around, that’s ok. You will likely hit your goals on your second or third launch.
Once you have a formula down and you know what works and what doesn’t you will exceed your income goals. The beauty of creating online courses and running an online business is you can scale it.
This is a long term strategy. You are learning the framework to create and launch your online yoga course, which is a business asset. You’ll be able to continue relaunching this asset and generating income which isn’t limited by the number of hours in your day.
It’s important to realise that pricing your course is not about picking a number. There’s a whole piece of work around validating your idea, outlining the course, crafting a high-value offer and then you price your online yoga course. There is a process to this!
You need to learn how to position your course so that your students understand the value they will be getting.
The main takeaway from this post is to understand what the transformation is that your students want and need.
What is the outcome they desire?
Then you need to craft and package a course that provides a solution to the issue that they are having and offers the outcome they desire.
Put your heart and soul into the course to over-deliver and offer real value so that your student perceives it as such high value that once you launch they are lining up for it!
By following these steps you will be able to charge at least $500 for your online course and position yourself as the expert with an online course that offers real transformation.
You will make more revenue faster as you won’t need as many students to sign up to hit your income goals. This is so much more than just teaching yoga online with zoom classes.
More committed and high calibre students will sign up and they will show up differently. Your students will be motivated, action takers.
You don’t need a massive email list to make a good income. When you are launching something to a small list if you have a solid relationship with that list you have the potential to make great revenue if you have a premium pricing on your online yoga course.
At Digital Yoga Academy we are passionate about helping yoga teachers overcome these fears and give them the strategies, tools and support they need to build successful online yoga businesses!
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