If you’ve been watching the online learning world over the last year, then you know it’s ballooned into an over $100 billion industry.
Many online content creators are finding new avenues toward financial freedom and pursuing what they love, and it’s all through offering high ticket courses. Whether you’ve been offering online courses for years or are just starting out, figuring out a plan for selling high ticket courses is a great way to make more money doing what you love.
Over the years, we’ve seen this first-hand with many of our customers exceeding $100,00 per year. How? Through selling high-ticket courses and programs around their specialized knowledge to their passionate communities. You can see some examples of these communities in our Stories of Awesome section including helpful break-downs of how they got started and how they price their courses.
Ahead, we’re exploring why you should be selling high ticket courses and walking through what people are looking for when they sign up for them.
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In this article...
Why join the online learning market
As we stated above, the online learning industry has grown exponentially in popularity over the last few years. Due to the pandemic, and many other factors, more people are willing and interested in taking online courses and learning new skills.
In the wake of this surge in interest for online courses has come a plethora of online course platforms that are allowing creators to create online courses and build their brand. Something that savvy online creators have learned is that selling high ticket courses is a great way to make more money and foster a tight-knit community of people.
But what exactly are “high ticket courses”? In the simplest terms, a high ticket course is one that charges a higher amount of money. While there’s no standardized number, we think that the starting price for a high ticket course is $1,000 and up.
You might be wondering why you should be selling high ticket courses though, so how about we unpack that a bit more?
Benefits of selling high ticket courses
If you’ve never tried selling a high ticket course before, you might think that the only benefit to doing so is making more money. That’s far from the truth. Sure, you certainly can make much more money with high ticket courses, but there are more benefits than just that. Let’s dive in.
More resources, less noise
For some creators, building a business around online courses has revolved around getting a large group of people to buy a course by keeping the price low. There’s nothing wrong with this method, obviously. But although it works for many creators, it can also have some major downsides.
The biggest downside is that when you focus on quantity, you often lose out on quality. Take a moment and imagine the classes you enjoyed most in your life. If we were to guess, they probably weren’t the ones where you were just a number in a large lecture hall. They were the classes that were small and more intimate, the classes where you met others and your teacher. This principle doesn’t change simply because you’re offering online courses.
Creating a high ticket course allows you to keep your admissions low while retaining a profit margin you’re comfortable with. But it’s also more than that. When you have fewer members to worry about in your course, you can actually be more present, learn more about your members, and actually create connections with and between them.
On top of that, selling high ticket courses will give you the capital you need to actually develop more robust content and experiences for your members.
Another concern for any content creator is the “value” of their course in the eyes of prospective members. Many people call this “perceived value.” It’s basically what someone thinks your product is worth and there are a number of factors that can go into that. But one of the most important factors is pricing.
Imagine you’ve come across two online courses that seemingly are offering the same kinds of content on the same topic. One is charging $50 and the other is charging $500. It doesn’t matter how amazing the content is in the $50 course, the $500 one will have a higher perceived value because of the price. This is something you can use to your advantage.
We aren’t suggesting that you should trick people into paying more for your content. What we are saying though is that many creators undervalue the content and services they provide. Selling a high ticket course is an acknowledgment that you are guiding people toward achieving a goal they couldn’t on their own, which is incredibly valuable. Much more than you probably think.
Community is super valuable
We alluded to it earlier, but offering a high ticket course allows you to foster a thriving community. But why is that important? Communities are incredibly valuable because they take the heat off of you to constantly keep your course members engaged with new content. There’s more to it than that though.
Take a moment and think about what a course really is: A group of people coming together around a shared interest to achieve a goal they couldn’t by themselves. That’s incredibly powerful, right? As the course creator, you’re in a unique position to create a growing network of people that can connect with one another about a similar interest, experience, or passion.
If any of this sounds a bit familiar then you might be thinking of a little social media platform known as Facebook. Facebook grew in popularity due to the concept of creating a “network effect.” A network effect is basically when you create a community, each new person that joins adds additional value to your community by contributing their unique perspective.
High ticket courses created on modern community platforms are perfect candidates for creating network effects. With a smaller course size, your members will not only build connections with one another, but they will actually want to stick around after your course is done.
So, now that we’ve covered the benefits of selling high ticket courses, you might be wondering where you should create yours.
Ready to build a high-ticket course with Mighty Networks?
If you’re considering selling high ticket online courses then you’re going to need an online course platform that will give you the right tools. And it starts with choosing a platform that will actually let you create a high ticket course.
Mighty Networks is a cultural software platform that allows you to bring together content, community, courses and commerce. Each Mighty Network comes with flexible Spaces that can be customized to hold courses, events, live streaming, discussions, and more. This means that your online courses can mix live streaming, recorded video, discussion board posts, polls, Q&As, attached files, and pretty much anything else you'd want to add.
When you create a high ticket course on a Mighty Network, you will have an all-in-one experience bursting at the seams with native features.
Better still, your online course can be directly connected to an online community all within the same Mighty Network. That means you’ll have a direct funnel for graduates of your course to transition into being not only alumni but members of your growing online community.
Selling high ticket courses is a great way to make a lot more money for the awesome content you create. But it’s more than that, when you have a smaller audience you can focus more on the people you’re bringing together, your own needs and desires, and provide your business more resources to continue making awesome online experiences.
So how about we help you get started on your high ticket course?