You may have wondered how much money you can make through online courses and whether Udemy is a good option as a course marketplace. Let’s look at whether Udemy is a good fit for your online course building.
Some interesting facts about Udemy:
- Most instructors offer free coupons for their courses to get initial traffic
- 90%+ of all course sales are through Udemy site-wide sales where courses are discounted down to an average of $10 – $20
- Udemy offers you 97% of revenue for students you refer yourself, offers you 50% revenue if someone finds your course through their website and offers you 25% revenue for someone who comes to your course from one of their ad programs or through an affiliate. See some of my revenue splits below for courses with a retail value of $US25.
- You can offer your courses for free unless your ratings drop below 4.1/5 . An interesting side note is that when I’ve offered my courses for free, ratings drop with reviews citing that the course wasn’t as useful as expected. Changing the price to paid and the reviews go back up. Takeaway: People value what they pay for and people sign up for free courses even if they don’t need the info.
- You’re very limited in how you can communicate with students. Close to no mention of your own business is allowed.
- Completion rate for online courses is in the single figures (<10%).
- Reviews are collected in the first few lectures so ensure you pack in as much value upfront as possible.
Happy to answer any questions you have around online courses.