Udemy is an online learning platform. Some experts call it a marketplace because people sell their knowledge in form of video based courses. It has almost 20,000 plus video-based courses on various topics including programming, yoga, photography, graphic designing and much more.
Basically two types of courses are sold on this marketplace; one is MCQs (including short questions for exams) and complete video based courses.
People also search for multiple choice questions (MCQs) on various topics like English grammar, comprehension, MCAT, SAT, ECAT, IELTS. And on Udemy, tutors can sell MCQs. MCQs are sold about on 1 to 8 dollars.
You can create a course in video formats. However, you may add exercises, hands-on experiences, PDF summaries, presentations, e-books and many others along with your main videos.
Students can learn at their own pace, on their own time and on any device.
How does Udemy work:
Teachers / tutors upload their courses, they set price of their courses. Then tutors market their courses by referral links. And Udemy also market courses and offers coupon codes or discounts. Student login to Udemy, purchase courses, pay fee and courses become available to them for life time.
Udemy provides dashboard to the instructors. The dashboard offers two types of stats of the marketplace of Udemy. One is specifically marketplace insights and other is of general insights.
Revenue sharing model of Udemy:
Udemy shares net amount with instructors. Net amount is the amount (which a student pays) less any applicable taxes or fees, such as the 30% fee imposed by Apple or Google for sales on iOS and Android. Two different revenue sharing models are available for sellers.
- Instructors promote their courses on their social media accounts / profiles, websites using referral links. Instructor receive 97% of revenue.
- Udemy markets courses by offering coupons, discounts, promotions. And users also browse courses. Here, instructor receives 37% of website revenue earned on courses.
Who can earn from Udemy:
Any person who likes to teach, explain and solve problems.
Which skills are required:
- Video recording, video editing and audio editing
- Teaching skills _ you can express your knowledge
- Microsoft office (word, excel, PowerPoint) _ it will help you to draft and design courses.
These skills are easy to learn. You can learn them from YouTube. Udemy has almost 4 to 6 official courses for tutors guiding them to record, edit, publish, market and sell their courses.
Which resources are required to earn from Udemy
- Smart phone or iPhone or camera to record video
- Laptop for video editing and uploading course
7 Best Tips for Selling Course on Udemy
- First find your skills / knowledge on which you have grip
- If you already have portfolio of teaching, it will help you to grow and earn more. If not, don’t worry. Create portfolio along with your courses.
- Before publishing your course, must attend official courses designed for instructors.
- Search for potential of courses using marketplace insights tool of Udemy.
- Keep focus on topic, make it interesting, add hands-on experiences, provide study material to your students and also include exercises in your course.
- Don’t create lengthy courses. Keep them short and to the point.
- Go with free software(s) at start for example Openshot, Shotcut, Camstudio, Openboard, Blender, Audacity, Handbrake etc. for course editing. These are all opensource programs. No need to buy expensive software(s) like Adobe Premiere Pro.
And also no need to add special effects to your videos. Just pick up your camera or smart phone. Record your lecture. Add text annotations, presentations and screen recording (for software tutorials).
Conclusion
Udemy is online learning platform. General public is its market. It is highly cost effectively to earn money. It gives you fair passive income. To upload courses and to sell them is totally free of cost. High quality course providers are earning 5 to 6 figures per year.
For success, you need belief, self-esteem, patience and consistency.
