Go too high, and you’ll drive away many otherwise suitable prospects.

Go too low, and people won’t perceive your offer as high quality. Plus, you might not get enough buyers to justify the tiny price tag.

So, how do you find that pricing sweet spot? The one where prospects see your course as a must-have…

And are ready to pull out their wallets because they’re confident the info is worth far more than the asking price.

Today, I want to help you look for and get as close to this sweet spot as possible. I won’t be able to give you a concrete number (and anyone who does this without diving deep into your business & market is someone to run from)…

But I can give you a set of principles, guidelines, and figure ranges you can, with a bit of critical thinking, apply to your course. 

Let’s dive into it.

The Realities & Myths Of Pricing Numbers

As I’ve said, if anyone claims there’s a one-size-fits-all BEST price tag — they’re either delusional or trying to sell you a “magic” pricing formula.  

Yet, there are some rough typical price ranges your course falls into depending on the topic.

So, if you’re teaching someone a hobby not geared towards making money — you’re looking at somewhere between $100 and $500. But, as I've said, you shouldn't take these ranges as carved in stone. 

For example, my "Piano In 21 Days" course, which fits this group, costs far more. Yet the unique circumstances and the fact that 8 years in business have clearly shown it's the best course in the niche make the price bump fully justified.

If you’re focusing on money-making opportunities, the typical range would be between $500 and $2,000. I’ve also seen courses that promise vastly improved health in some way fall into this range.

If you have a high-ticket offer, like coaching, your price can land anywhere between $2,000 and $10,000. One caveat with these courses is you often have to sell them more directly (through phone calls, video meetings, etc.).

Topic isn’t the only factor affecting how low or high you should go with your price, of course. I’ll go into more things to consider in the next section.

For now, let’s stick with numbers and cover one of the most common pricing dilemmas:

Is the last figure in your price really that crucial? 

Well, a lot of course creators have taken the “end with a 7” route. So, it’s become a rule people blindly follow because “it works better.”

I see no problem with doing that and have done it myself. But I’m also not convinced there’s actual power in that number.

Also, many studies show that using a 9, despite being common, has a bigger psychological effect. Which makes sense when you think about it.

Look, I don't think either number has a clear-cut advantage. So, you should be fine whichever one you choose.

If you’d like to charge $300 for your course — your price tag should be $297 or $299.

With that said, let me show you some reasons why you should aim higher or lower with your price tag.

Why Aim For A Higher Price Tag

It all boils down to 4 main reasons:

1.   You get more money per sale for the same amount of work. So, if the market allows it and you’ve got a worthy offer — why not make the most of it?
2.   When you promote a higher price the right way, you’ll build a higher perceived value. 

This effect is as old as time – but it works. Just look around your house, office, the park, email inbox, etc., and you’ll see many examples of brands/gurus pulling it off in action.

3.   A higher price prevents many bad students from enrolling. You know the type – freebie seekers who aren’t willing to do the work and constantly complain. Bump up your price tag, and you’ll attract more high-quality students instead.

Yes, this means you’ll end up with fewer students. But it also means you can serve each of these students better, leading to superior outcomes and raving testimonials. 

4.   “When you pay, you pay attention.” This old adage isn’t always true, but in most cases, the more people invest in your course…

The more effort they’ll put in to get a higher return.

Even if it’s the exact same course, people will pay more attention when paying $499 than $19. 

All this doesn’t mean you should charge outrageously high prices. You’ve got to find the right balance.

You do this by considering the reasons for aiming lower and adding them to the mix.

So, let’s do that now.

Why Aim For A Lower Price Tag

There’s an obvious reason for doing this too — you don’t want to overprice your market.

If you go beyond what most people can afford, even doing a stellar job of boosting the perceived value won’t get you enough sales. There’s a limit on what people will pay to get the dream outcome you promise…

And you must do your best to unearth & stay within it.

Another less obvious, but equally important reason for aiming lower is this:

It’s always easier to raise your course’s price in the future than to lower it. 

So, for the initial course version, you can go lower knowing you can raise the price if circumstances show it’s possible.

That’s what I’ve done with my “Piano In 21 Days” course. The initial price was $97. I raised it to $297 very quickly, after about 10 sales. (Note: The people who paid $97 didn’t do too much with the course. Because, as you’ve seen: “when people pay, they pay attention.”)

After some time, I raised the price to $497. Then it went to $797 and finally to the current $997 (there’s also a base-level course version for $497).

Now, it’s not easy to make price bumps like this. But it’s even harder (and credibility & reputation crushing) to go from pushing higher to diving low.

Conclusion

There's no magic formula for setting your course's price. Or an almighty number that will ensure you maximize revenues and student satisfaction.

But if you take some time to assess the life-changing power of the info you offer, your market, and the pros & cons of aiming for a higher/lower price tag…

You'll be able to boost the chances of your price attracting enough ideal prospects for you to both profit and set the foundation for long-term success.

Here's to finding a number that helps you do just that with as little testing as possible. 

I'm rooting for you. 

-Jacques