How to make money on training courses
The last decade has been marked by many innovations: unmanned vehicles, cryptocurrencies, the emergence of efficient algorithms. Thanks to new devices, we can spend more time on self-development. Many have thought about how to make money on training courses – the niche seems to be profitable.
Experts predict that the online education market will almost double in a year. At the same time, despite the high competition, there is still an opportunity to find your niche. There are courses on the Internet from companies with a million capital, and from small independent experts with a budget of 50,000 🪙 for the first launch. Here you can teach people how to bake cakes if you are a confectioner, tell them how to make a film if you are a cameraman.
Anyone can launch their own course or online school, as well as make money on courses. The only thing that is fair to say is that knowledge alone is not enough.
How to sell your course
Yes, you can make a course, but you won’t earn anything on it. The modern public is picky about content: they love uniqueness, consistency and high-quality presentation.
To create all this, you need to go through several stages. Someone tries to do everything on their own, often it doesn’t work out very well. The best thing is to find a team of like-minded people and experts in their field.
Successful Launch Plan
Find out the details: were there courses on the topic you want to talk about? Is there a demand for lessons on this topic? Evaluate the work of competitors, calculate the cost, possible profit and time for implementation. In theory, this is all – a business plan, that is, the foundation of what you want to build.
When analyzing competitors, pay attention to how long they have been on the market, what are the features of what they do.
Think about the meaning of the product and the benefits it will provide to the customer. Find the differences that make the course stand out from the rest. There are 100 photography courses and you want to start another one. What will you do to attract others? For example, you can invite Annie Leibovitz, but it will be very expensive. And you can include checking homework in the minimum package or organize a graduation for students.
Organize a trial run with a small budget: whether it be a single lecture, a mini-course or a free online marathon. Present the flagship product – your course.
Launch sales for the first stream and finalize the details of the course.
Start the course and get detailed feedback from the first clients. Find out the needs, clarify what you didn’t like, ask for product recommendations for those who would be interested.
Refine the course based on the information received.
Organize content creation, launch ads, set up ticket processing and other business processes.
First of all, a new product always needs to be tested – then you can understand how to make money on the Internet in courses, and not just spend your budget.
How to make money on courses on the Internet: cases
Unsuccessful. Online school. Company X read about how to make money on training courses and decided to launch an online course for design engineers.
What was done:
- Created social networks;
- Launched a VKontakte target for undergraduate students of architectural universities;
- Purchased advertising in thematic groups;
- Conducted a series of free webinars.
Total ad spend: 10,000 🪙;
There was no profit: people attended free webinars, but did not seek to purchase paid content. Causes:
- poor-quality packaging of the online course;
- lack of an advertising strategy;
- the price is higher than the market price.
Case two, creating sites on WordPress
Company X has its own profitable site that earns from advertising. The course has become a way to increase blogging income.
What they did:
- We analyzed audiences by Yandex.Metrica. Usually a test company is launched to understand the demand, and then a detailed training program is prescribed. Only those who thoroughly know their audience do not do this.
- Analyzed competitors and identified the needs of the audience;
- We recorded a video course and prepared a homework program;
- We created a landing page for the course, connected the payment module;
- Set up advertising and contact forms: banners, newsletter subscription forms;
- Set up an e-mail newsletter;
- Designed a sales funnel
Spent on the project: about 20 thousand 🪙 for advertising and all kinds of subscriptions, as well as a month and a half of work. We made a profit: 400 thousand 🪙 of passive income for six months.
Many people think that there is such competition in the online learning niche that you can’t sell anything there. Someone thinks that to create a course, you need to be an incredibly cool expert. Some are sure that it will be necessary to constantly participate in the learning process. All these are myths – the main thing is to think strategically, understand what is in demand, and be able to quickly learn new things.