Understanding the Online Course Market
The online course market has grown exponentially in recent years. Popular sites like Udemy and Skillshare have made it easy for anyone to create and sell online video courses on a wide variety of topics.
This has opened up new opportunities for professionals and experts to monetize their knowledge and skills.
Some key things to know about the current online course market:
- More people than ever are looking to learn new skills online through video courses. Popular topics include coding, design, business, finance, languages, and more.
- Competition is high as thousands of new courses are added every month. Having a niche topic, excellent production quality, and engaging instructional design is important to stand out.
- Pricing models vary by platform but most take a revenue share (e.g. Udemy keeps 30% of course sales). Having multiple courses or membership sites can increase long-term earnings.
- Marketing is primarily done through the platform (e.g. featured sections) but instructors can also promote through blogs, social media, email lists, and affiliate programs.
- Top earning instructors make low six figures or more per year through ongoing course sales and additional products/services. But it takes time to build an audience and earn consistently.
In summary, creating online courses is a viable way to monetize expertise for those with in-demand skills or knowledge. But it also requires an ongoing commitment to high quality content, marketing, and customer support.
Developing a Successful Online Course
The key steps to developing a successful online course include:
Define your topic and goals – Choose a niche that matches your expertise and has clear learner demand. Decide if your goal is supplemental income or a full-time business.
Create an outline and flow – Map out the overall structure with sections, lessons, timing. Make sure the learning is progressive and builds on prior concepts.
Record engaging video lectures – Use a high-quality setup and speak directly to the camera with a friendly teaching style. Keep lessons brief (5-20 mins) and include quizzes/activities.
Add captions and transcripts – This makes your course more accessible and improves SEO. Platforms like Rev.com can automatically generate captions from your audio.
Design a great student experience – Use a consistent theme with clear navigation. Include downloads, forums/Q&As and certificates of completion. Test on different devices.
Promote your launch – Announce your new course through social networks, blogs, email lists. Consider a launch discount and affiliate program to gain early reviews.
Iterate based on feedback – Monitor student engagement and reviews. Regularly update content based on questions to improve over time.
Developing high-quality online courses takes work but can be rewarding both financially and for sharing your knowledge. With the right topic, production, and marketing, you can build a sustainable business on platforms like Udemy.
FAQ about Creating Online Courses
Q: How long does it take to create a successful online course?
A: The time it takes can vary significantly depending on the course length and complexity. As a baseline, plan for at least 30-50 hours to produce a 3-5 hour beginner course. This includes outlining, filming, editing videos, adding extras, and doing an initial launch promotion. It may then take several months of iterations and marketing to start generating consistent sales.
Q: What is the best platform for selling online courses?
A: The two largest and most popular platforms are Udemy and Skillshare. Udemy allows individual course sales but takes a higher revenue share (50% initially, 30% long-term). Skillshare focuses more on monthly membership but has a smaller audience currently. Other options include Teachable, Thinkific, and Kajabi which provide more flexibility but require your own marketing.
Q: How much should I price my online course?
A: Pricing depends a lot on the perceived value and level of expertise offered. As guidelines: Beginner courses $10-50, intermediate $50-150, advanced $100-300. Ongoing membership sites are typically $10-30/month. Consider dynamic pricing that lowers over time or bundles multiple courses at a discount. Testing different prices can help maximize sales and revenue.
Q: What are some popular online course topics right now?
A: Some of the most in-demand topics on platforms like Udemy include: coding (Python, Java, SQL), marketing (SEO, social media, Google Ads), design (Photoshop, Illustrator, Canva), business/entrepreneurship, finance/investing, health/fitness, languages, Microsoft Office, photography, and self-improvement. Niche topics within these categories also perform well if presented by a recognized expert.
Q: How do I market and promote my online course?
A: Some effective marketing strategies include: promoting your launch on relevant blogs and forums, running Facebook/Google ads, emailing your list, gaining early reviews on your platform page, partnering with influencers for affiliate promotions, creating additional lead magnets (e.g. ebooks) with course discounts, hosting webinars, and regularly engaging students in forums for questions. Consistency across multiple channels over time is important for ongoing discovery and sales.
Creating and selling online courses is a great way to monetize expertise if done right. With in-demand topics, high production value, and strategic marketing, it’s possible to generate substantial and ongoing income from online learning platforms.
