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Standalone online course platforms can turn into a source of high cash inflow if done correctly. It has various moving parts that you need to keep in check.
This is why, in today’s post, we will focus on some important aspects of online course platforms. These things can help you get an edge over your competition in the market.
We will discuss the following topics in this post:
- Important things about creating an online course platform
- Precautions you need to take before you get started
7 Factors You Should Know About Online Course Platforms
You can start your own online course selling platform in just a matter of minutes. With the help of tools like WordPress, the entire process becomes effortless.
The main hurdle is getting to that point. Let’s check some important factors that can help you cross these hurdles.
Before you get into any market or business, it is important to get yourself up to speed. Even if you’ve been working in the same field, trends change on a daily basis.
This is why it is important to know what you are heading into.
In the case of online course platforms, your main goal is to understand how a platform can improve your engagement with the target audience.
What type of things should I look at?
When you look for online course platforms, accessibility and utility should be your focus.
Accessibility creates a healthy environment on your platform. On the other hand, utility adds value to your courses and the brand itself.
Furthermore, you need to check how well a platform can perform for your target audience. Let’s say, your courses are directed towards daily wagers.
The platform should reflect that in every sense. It should be elaborate but not too technical at the same time.
For example, Datacamp is a site that hosts coding courses. The entire site reflects that with its technical use of language.
Whereas, a site like Coursera is directed toward a general audience. So, naturally, their outlook is simple and straightforward.
You can check our detailed comparison between Datacamp vs Coursera to get a better idea.
One important aspect of online course platforms is integration. It determines how well they can pair up and perform with third-party software.
In some cases, it can be crucial to have a highly-integrated platform.
How does that benefit me?
To put it simply, you don’t want to deal with technical problems. One thing can lead to another and you will be stuck in a sea of issues.
A well-integrated platform mitigates it and makes your job easier. For example, a platform like WordPress is designed to work well with third-party programs.
You can install plugins, templates, and payment methods without a hassle. Moreover, it ensures that your website keeps on working as intended.
3. Marketing Options
A standalone platform revolves around your brand but that doesn’t mean you can’t advertise your courses on it.
You should select a platform that has various marketing tools at your disposal. It will help you increase your sales by promoting courses that don’t get as much exposure.
Is that helpful towards my earnings?
Statistically speaking, it is beneficial for your overall earnings. You can promote new courses and sell them to potential customers.
Even if it is a small amount, it is still better than no earning at all. Moreover, the users will get to know the extent of material available on your website.
4. Pricing Plans
Your course prices determine the sales turnout rate in the majority of the cases. If it’s too high, your potential customers will instantly lose interest.
If the prices are too low, it will affect the credibility of your courses. So, it is quite important to find the right balance between the content of your courses and the price.
How do I determine the price of a course?
One easy way to do so is by comparing the prices on other platforms. You can then formulate a price for your courses.
Moreover, it will help you categorize your courses with different prices well. This can come in handy especially if you have courses related to various fields.
How is that beneficial for me?
To put it simply, it will provide you with an edge over your competition. You can start with lower prices and gradually work your way up in the market.
Other than that, you’ll have a clear picture of your pricing plans even before the platform goes live.
5. Payment Methods
As we have already mentioned, accessibility is an important aspect of an online course platform. Payment methods contribute to the accessibility factor.
You can either go for payments via credit cards or PayPal. Both options are viable for audiences inside and outside the US.
Should I keep both options on my platform?
It is good practice to have multiple payment options on your platform. It streamlines the process and encourages your users to buy more courses.
Interesting Fact: Some online platforms even use Bitcoin and Ethereum as a form of payment.
6. Brand Building
It is quite easy to sell a couple of courses over a period of time. But it is not a viable strategy to earn a substantial income in the long run.
Your focus should be on creating a brand identity and cementing yourself as a credible source in the market.
How can I do that?
There are two ways to do so. You can publish courses from well-known and respected course creators. This will give a boost to the credibility of your platform.
The other way includes providing extra benefits to your customers. You can offer them special deals and provide courses at a cheaper price.
Although these strategies are quite effective, they aren’t set in stone. You can always implement new ideas to build your brand.
Numbers never lie. It is important to keep an analytical approach when it comes to selecting a target audience.
You can select any niche to target. However, it is important that you also look at the potential for growth.
How are analytics related to growth?
Let’s take an example for it. Suppose you want to target a niche market related to graphic design. You have to look at the user base for it across different platforms.
After that, you have to analyze how much value your courses can add for the buyers. And finally, you have to sketch out a plan for future content.
If you can’t create a plan for more than six months, it’s not worth your time. Because once you build your identity around it, shifting to another niche can be difficult.
Creating an online course platform includes various moving parts. It is important to get yourself accustomed to these operations if you want to succeed and establish a brand name.
With this, we come to the finish line of our post on 7 things to keep in mind before you create an online course platform. We hope this information proves to be beneficial for you.