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Additional Ways to make Money with Udemy courses
Contributed By Udemy Instructor Alex Genadinik
If you are a Udemy instructor, you might appreciate Udemy and the money it is sending you each month. But you are also probably always thinking about how to grow and maximize your Udemy revenue beyond what you already get.
Of course, you can and should do your best to grow your revenue on Udemy. But there are some things that Udemy just doesn’t allow you to do at the moment. First, Udemy does not take all forms of payment which limits the potential number of students you might get. If you add other forms of payment through your own site, you will be able to grow your revenue from the potential new students who were not able to buy your courses on Udemy. These are often people who live in countries where PayPal is not allowed or people who don’t have online banking or credit card. Those people can often pay using Bitcoin or other cryptocurrency. That’s why I recently started accepting Bitcoin as a payment for my online courses and books through my website. I even give discounts to people who pay with Bitcoin.
Another way you can make money from your existing Udemy courses is to license them out using the PLR (private label rights) licensing model. This works by letting other entrepreneurs resell your courses on their sites. Instead of doing a revenue split with those new entrepreneurs and new e-learning companies, you would license out the courses for a 1-time fee. Here is an example of how I do PLR course licensing. Some instructors don’t like the PLR white label licensing because they lose control of their content. Once you license your content out, you can’t 100% control what happens to it. That is an obvious turn off. Of course, when you do a revenue split agreement with any e-learning company, you still give up at least some of the control you have over your courses.
Another way to profit from your Udemy courses is sending the students to your website via educational announcements and having retargeting ads set up on your site. This is 100% within the Udemy terms of service and your retargeting ads can promote additional products or services of yours like business coaching that your students might find very helpful if they are already getting value from your courses.
Lastly, there is always the option of putting your courses on additional online course websites via the revenue sharing model. But other than Skillshare, few other online course websites are proving to be able to match the sales you can get on Udemy. Some instructors have taken the “machine gun” approach where they post their courses on any websites that offer to resell their courses and split revenue. But I feel that this is a waste of time since many of those sites never bring a single dollar in revenue and waste your time with endless emails even if they offer to upload your courses for you.