Teaching online without a doubt is a booming market worldwide and statistics prove it. According to researches, the global online education market is expected to hit $319 billion by 2025.
This trend along with the tendency of learners to prefer online learning considering the comfort and flexibility also have given way to new ways of teaching online. Becoming an online teacher also means you can earn from a few hundreds of dollars to a 5 or 6 figure income.
Online teaching is not incredibly lucrative, anyone can teach online and generate revenue by sharing their knowledge with others. Even if online teaching doesn’t become your main revenue stream, it can be a source of extra income. But how can you make money by teaching online?
In this blog, let’s explore the ways you can start making money teaching online and is one of the most scalable ways to achieve it.
Making money teaching online classes
While the money making potential of online teaching is great, building, launching, and marketing online teaching platforms can take a considerable amount of upfront efforts. But when starting out, making money from online teaching won’t always be easy.
You will have to put in more effort, work hard, and learn through mistakes to reach your money making goals. There is no such thing as getting rich soon strategies. The truth is that the only way to make money with online teaching involves putting in real efforts and your valuable time.
Once you put in your efforts, you will be able to teach online efficiently and start making money soon. Finding the best monetization ideas that suit your target audience, the nature of your classes, your requirements and goals is also important.
Here are some of the best ways to earn money by teaching online.
Teaching for others
If you are looking for multiple ways to make money, you can consider teaching for others by delivering your classes on other online teaching platforms. To become a teacher on any other online learning platform, you must have the educational qualifications they demand and the right expertise in the area of your subject.
The major advantage of teaching this way is that you will have guaranteed income and it comes with the benefits of a regular job. If you are not the entrepreneurial type or looking for alternative ways while setting up your own online teaching platform, this is probably the path to take. But, this method won't give you control over your earning potential as you teach for someone else.
Starting a blog
Starting an educational blog of your own is one of the most powerful strategies to make money teaching online. With a blog, you can build an audience of your own.
That is important because you can later convert these audiences to your student base when you launch your own teaching site. You can also run advertisements and set up affiliate partnerships to make money through your blog.
While selling eBooks can sound easier than it is, eBooks can be a lucrative source of income. You can write short eBooks and publish it on Amazon or on your online learning website.
Many eBook publishers make 5 figure income by selling their educational eBooks for $2-$5 on Amazon. If you already have an established student base through teaching online on other sites, or through your blogs, you can use them as your initial audience to sell your eBooks.
Creating your own online teaching website
If you want to have more control and flexibility over delivering online classes and the revenue you generate, consider creating your own online teaching website. In your online teaching platform, implement the following methods to generate a steady income stream.
- Monetize individual classes
Charging your students for individual classes is the easiest way to monetize your classes. When you have new students, they find it easier and convenient to pay for individual classes so that they can try out your classes before signing up for more.
Another way to monetize your online classes is to charge your students for a recurring membership for a class bundle. Once you have a consistent student base who registers for your online classes, you can charge them for recurring subscriptions.
- Place ads on your teaching website
By running advertisements on your website, you can generate income that way from sponsorships. However, be careful when choosing the type of ads as they are annoying to most users. Hence, you must pay attention when making your choice.
Make sure the ads you accept on your site are relevant and useful for your online audience. You can consider using Google AdSense. As your traffic increases, your ad income will increase as well.
Another thing is to let your learners know that you run ads on your site. Trust is important so it is always critical to disclose about the compensation you get from running advertisements.
Charge for certificates
If you are just beginning to take online classes, you can consider offering your classes for free to your users, but charge them for professional certificates. If you offer the benefit of providing the courses for free, most of your learners would be willing to pay for certifications.
Teaching online is a great way for educators to make money as people always want to learn and are looking for innovative ways to pursue education online. The most challenging part of teaching online is not coming up with an idea of what to teach, but to build the best online teaching website.
The easiest way is to use an online tutoring software to build and launch your own online teaching platform to power your online classes. Pinlearn is one such platform that features an intuitive interface to develop an online tutoring site especially for the needs of educators to effectively deliver online classes and make money.
Once you have decided to leverage the power of online teaching, form the best business plan and strategies to deliver online classes to offer your target learners an impactful learning experience.
I'm working as leading experts on building and implementing the learning strategies. I have led learning & performance improvement projects form last few years.
Currently marketing consultant at https://www.pinlearn.com/