9 articles in this collection.
Written by Veethi Telang
How to Set Up Pricing for Your Course
- What is CoachRack?
- Getting Started: Creating Your First School
- How to Add a Course to Your School - Part I
- How to Add a Course to Your School - Part II
Too little, and it’s not going to cut it. Too much, and it’s not going to sell. Setting up a price for your course can be one real pickle, isn’t it? However, after racking your brains and doing through research, when you do decide on a final price, the immediate thing that you need to do on CoachRack is to create a pricing plan for it.
Now, we say plans because the same content of your course can be presented at multiple price points. Think about an example – one plan comes with certification, the other one doesn’t. That automatically differentiates one pricing plan from another, doesn’t it?
Creating a pricing plan for your course on CoachRack is an easy-peasy process, really. Start at the Courses tab from your CoachRack sales dashboard, and click on the Edit icon to reach the course curriculum.
Jump straight to the Pricing tab, and click on Add Plan.
Say hello to the pricing plan popup, wherein, you will enter the details of your brand new plan for this course.
Let’s take these sub-tabs one by one. Kay?
Your plan name, its description, and its status on your course go here. As an example, let’s create a Basic plan for our course on Master the Guitar in 30 Days with no-certification properties.
This tab is where you set the frequency of your students’ billings. The three toggles you see here – Is One Time, Is Recurring, and Pay What You Want – let your students pay all at once, pay in the form of an ongoing subscription, or as much as they like for the course, respectively.
Enter the Plan Price here, along with setting up the expiry by choosing a time period after which the access will be revoked. The Expire Access After field defines the duration post which your students would no longer be able to access your site. Gotta keep the precious information secure and away from freeloaders, eh?
Required Credits is an interesting field, for it allows your students to purchase your course in exchange for credits. Just mention the number of required credits here, and you’ll be done!
Excuse me… what credits?
Simply put, credits let your students purchase a course without paying you money. How they work on CoachRack is explained in detail in our tutorial here.
Let’s move on to the second toggle – Is Recurring. Enabling it automatically adds two new fields on your screen – Stop After and Billing Frequency.
Stop After defines the times after which the billing will stop. For example, if your course’s subscription is worth $600, and you want to bill the students $50 twelve times, set the frequency to 12 times. Alternately, if you want to bill the students $100 six times, set it to 6 times.
Psst… did you know; you can set the Stop After frequency up to 365 times? Be wise about this setting so that you don’t end up wasting half your time on a calculator.
Onto the Billing Frequency – this field defines how frequently you’d want to bill your students for your course. You know, just like an EMI works at regular intervals.
So, say, you’ve set the payment to be made 12 times through the course of a year. Through this field, you can set the regularity of the billing. 1 month? 2 months? 6 months? A whole goddamn year? Yep, we have a provision for it all (*adjusts sunglasses*)!
Thazall under this tab! Click Save and we’re off to Features.
We’ve housed two very interesting toggles under this tab – Seat Based pricing and Enable Certificate.
Seat Based Pricing refers to the concept of a group membership, wherein, any customer who purchases your course can invite up to a specific number of fellow students to consume the knowledge of your course. As soon as you enable this toggle, an additional field opens up – Number of Seats. In here, you add in how many users this customer can invite after they purchase your course.
An amazing concept for the purpose of high-end corporate trainings, this feature is worth trying for coaches who are selling to corporates and SMEs.
Lastly, we have the Enable Certificate toggle, which, of course, lets your students download a certificate from their students’ area (link to: Student Experience: Orders & Subscriptions) right after they complete the course.
However, since we're not offering certification on this particular plan, we shall keep this toggle disabled for good.
Whew! So, all fields updated. All necessary toggles enabled. Hit Save, shall we?
With that, your first pricing plan is ready to roll! Here’s how it looks on the Pricing page of your course with a series of critical information that’ll come in handy for you. All analytics are calculated and updated right here for you to take note of, and tweak your plan with regards to what works and what doesn’t. And, once you figure out what to tweak, click on the Edit icon right below Options, and start playing!
- Options: Want to edit or delete this plan at any point of time? Hit the appropriate button.
- Title: The title of your pricing plan.
- Site Key: Your key in case you want to establish a web-based security system that provides authentication between your site and the customers.
- Order Link: The link for this pricing plan that you can place on any sales page, thereby, redirecting them to your course’s pricing page.
- Webhook: For integrating an external application that receives real-time information on the activity on your pricing plan.
- Type: “Regular” for one-per-customer, but changes to “Group Membership” if you enable Seat Based Pricing.
- Price: Well, the price of your course under this particular plan.
- Frequency: The frequency you have set up the billing for this plan of the course.
- Times: The total number of times your customers have been billed under this plan.
- Page Views: The total number of page views on this plan on your course’s frontend.
- Button Clicks: The number of times the “Order” button has been clicked.
- Conversions: The number of sales you’ve made for this plan.
- Status: Active? Inactive? This option shows the status of your pricing plan.
That’s it! That’s all there is to setting up a price for your course on CoachRack. Think long and hard about the pricing; it’s only one of the most significant steps in your journey to a thriving coaching empire.
For any queries, reach out to our support and our support champs will gladly assist you.