Creating an online course is a great way to reach a wide audience and monetize your knowledge. But with dozens of different platforms available, deciding which one is right for you can be challenging. One popular choice among course creators is Thinkific, an all-in-one platform that makes it easy to build, market, and sell courses online. But how much does Thinkific cost? Is it worth the investment? In this blog post, we’ll break down the Thinkific pricing options so you can decide whether or not this platform is right for you.
What Does Thinkific Offer?
Before diving into the specifics of their pricing plans, let’s take a look at what features are included with each plan. All three plans include access to the same basic features such as unlimited courses and students, drag & drop page builder tools, mobile-responsive design templates for course landing pages and sales pages, digital downloads (eBooks/PDFs), quizzes & surveys with automated scoring & feedback messages, drip content scheduling (release lessons over time), student progress tracking & analytics dashboard (so you can see who’s completing or dropping out of your courses), membership site functionality for premium subscribers only content access (optional).
Thinkific Pricing Plans
The first thing to understand about Thinkific pricing is that they offer three different subscription plans: Free ($0/month), Basic ($49/month), and Pro ($99/month). The Free plan includes everything mentioned above but limits video hosting storage space to 250MB per month; any extra videos must be hosted on third-party sites such as YouTube or Vimeo. The Basic plan provides 5GB of video storage space per month plus additional features like advanced customization options for branding your website, email automation tools for automated follow-up emails based on customer actions within your course(s), more payment gateway integrations (Stripe + PayPal) than just Stripe in the free plan, etc. Pro includes 10GB+ video storage space per month plus even more advanced features like Zapier integration and priority support from their team if needed.
How Much Does It Cost To Sell Courses On Thinkific?
When selling courses through Thinkific, it’s vital to consider both subscription and transaction fees. For Free-tier users, transaction fees vary depending on the payment processor employed. Fees can range from 5% + $1 per transaction to 8% + $3. For instance, using Stripe as your processor incurs a 5% fee, PayPal applies a 6% + $1 fee, while AuthorizeNet charges the highest at 8% + $3.
If you opt for the Basic or Pro subscription, transaction fees significantly reduce, ranging from 0% to 3% based on the payment processor. Stripe eliminates transaction fees entirely, PayPal charges a lower 2.9% + $0.30 fee, and AuthorizeNet applies a 3% + $0.30 fee.
The implication here is clear – upgrading from a Free to a paid account could lead to substantial savings in the long run if you plan to sell multiple courses. Lower transaction costs associated with upgraded versions can offset the initial investment in a Basic or Pro subscription.
It’s crucial to remember that these percentages are exclusive of any processing fees imposed by third-party payment processors themselves. So, the total cost will always be a sum of Thinkific’s fees and the chosen processor’s charges, ensuring a clear understanding of all expenses involved.
What Other Costs Are Involved In Using Thinkfic?
Apart from subscription and transaction fees, several other potential expenses should be considered when using Thinkific. For instance, if you wish to establish a strong brand presence with a custom domain name instead of using the default subdomain provided by Thinkific, you’ll need to account for domain name registration and renewal costs.
Security is paramount when dealing with online transactions. So, if you’re setting up a secure checkout page, the purchase cost of an SSL certificate becomes an essential expense. This adds an extra layer of trust, reassuring your students that their information is safe.
Next, consider your marketing and advertising budget. Promoting your new courses to attract and retain students can be a significant but necessary investment. This could include social media ads, email marketing campaigns, content creation, and search engine optimization.
Lastly, depending on the complexity of your vision for the courses, you may need to hire external developers or designers. If you wish to create a unique, customized experience beyond Thinkific’s out-of-the-box offerings, these professional services can add to your overall costs. Therefore, while Thinkific’s pricing model is straightforward, these additional considerations ensure you have a comprehensive understanding of the investment required.
Conclusion: Is Thinkfic Worth The Investment?
In conclusion, Thinkific is a robust Learning Management System that is absolutely worth the investment for many. It offers a user-friendly interface, seamless course creation, and a broad range of interactive features that can elevate the learning experience. Moreover, its robust analytics and integrations with marketing tools make it a strong choice for businesses looking to sell courses. Of course, every organization’s needs are unique, and weighing these strengths against your specific requirements is crucial. But overall, if you’re seeking a comprehensive, customizable, and business-focused LMS, Thinkific could be the investment that drives your learning programs to new heights.