Created your product and ready to start selling? You're in the right place! This guide will cover the steps you need to get your business running!
In this guide:
Set Your Payment Processor
You must set up your payment processor before you can set a product price. Thinkific supports several different payment processors. All our processors have one-time payment options, but if you want to set up subscriptions or payment plans they are only available through Thinkific Payments or Stripe.
Thinkific Payments is a built-in payment processor that is a part of TCommerce's suite of payment processing and selling features. It is currently available to Creators with businesses based in a Thinkific Payments-supported country.
It includes everything you need to accept payments, process refunds, and manage payouts while allowing you to update your banking and business information; all through your Thinkific dashboard. Thinkific Payments centralizes your revenue streams and accepts payments for your products to help you sell more and spend less time doing it.
Learn more: Thinkific Payments
Stripe is a suite of APIs powering online payment processing and commerce solutions for internet businesses of all sizes. It is the recommended payment processor for Creators with businesses based outside of a Thinkific Payments-supported country.
Learn more: Accept Payments with Stripe
Learn more: Accept Payments with PayPal
Learn more about the differences between Thinkific Payments, Stripe, and Paypal.
Choose a Payment Frequency & Product Price
We understand that choosing the pricing for your products can be tricky and that's why we offer different payment frequencies for you to sell your product. You need to strike a delicate balance in finding a price that people are willing to pay, without devaluing the work you’ve put in and the perceived worth of your content.
Facing the hard decision of pricing your product? Check out our Complete Guide to Course Pricing or enroll in our How to Price Your Online Course Training!
Setting a one-time price for your course means that the student will be charged a one-off fee for access to your course (in contrast to recurring payments such as subscriptions and payment plans).
Learn more: Create a One-Time Payment for Your Product
The subscription payment option allows you to take recurring payments for your course via Thinkific Payments or Stripe. Subscriptions are based on months, but you have the flexibility to charge every month, every year, or anywhere in between!
Subscriptions are ideal for longer courses and work great in conjunction with our drip schedule feature, which allows you to release content over time - maximizing the lifetime revenue from a student by encouraging them to stick around for more.
Learn more: Create a Subscription Price for Your Product
Payment plans are great for products set at a higher price point. It removes potential barriers for your students, such as a lack of available funds, uncertainty about whether the course is for them, etc.
Learn more: Create a Payment Plan for Your Product
Additional Pricing Options
Set additional prices for your products to make them more accessible. For higher-priced courses, having additional pricing options and varying periods of access is a great way to reduce the barrier to purchase.
For example, your primary product price is a one-time fee of $300. You could create additional pricing options for 3 monthly payments of $100 or 6 monthly payments of $50.
Learn more: Set Additional Prices For Your Products
Set a Product Enrollment Duration
Setting an enrollment duration gives you the option to limit the number of days that new sign-ups will have access to your product. If there is no enrollment duration set, your enrolled students will have unlimited access to your product.