How Does Thinkific Make Money

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The Internet is rich in information. There are many platforms online filled with all the things you might be interested about. What better way to get it done than online courses? Online courses are in vogue these days. With its popularity growing even more because of the recent pandemic lockdown the format has grown more and more valuable for providing users with the information they need. It’s also becoming more valuable financially, as the market for paid courses is gradually gaining momentum.

Today, we’ll do an analysis of Thinkfic which is a household name for online classes. Let’s see the features it offers in terms of features and pricing to the integrations and interaction. In the end, we’ll let you know if it is worth a try or not. For instructors or influencer looking for alternative ways to promote your content, keep reading!

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For those of you who prefer a more visual experience, here is a video review from SoftwarePundit’s YouTube channel. To get a comprehensive overview of Thinkific, you may still want to check out our article below.

Overview: What’s Thinkific? How Does Thinkific Make Money

Thinkfic is a well-known LMS (learning management system) platform which focuses on providing an accessible and fruitful education-based environment for the learner as well as the instructor. It’s a good choice for business owners and entrepreneurs who specialize in the sale of online courses. With Thinkific you can develop courses using a variety of formats, templates and lesson types to choose from. You can incorporate videos and images into your lessons and let students upload their assignments as often as you want, create interactive and fun quizzes, and even issue certificates to to those who make it through the entire course.

Putting your online classes up for sale is now simple. Thinkific lets aspiring edupreneurs like you to manage how they are accessible. You can place your courses online for free or establish subscription fees that allow you to earn money by teaching your students with valuable information. Marketing and sharing tools are also available as they can be integrated with a range of third-party services, from marketing to automation and even to eCommerce. Thinkific is currently used by more than 36,000 entrepreneurs and businesses, including big-name companies like Hootsuite, Samsung, Intuit and many other companies!

Thinkific The Pricing

Thinkific has four pricing plans starting with the free tier, which is ideal for those just starting. The Basic plan for $39/month (if it is paid every year) is a big jump from the Free plan and comes with added features. Premiere includes the tools, integrations and features of all previous levels at $399 per month.

The Pro plan, which costs $79 per month, offers all the functions that any business owner will require and more. There is an additional Growth package for a more enriched teaching experience at only $50 per month, on the top of the Pro level. An absolutely free SSL certificate is offered with all four plans to provide additional protection between teachers and students. A 30-day guarantee on refunds is also included along with the paid plans. If you’re not satisfied you can be able to get your money back 100 percent!

Thinkific Site Builder

Thinkific’s Site Builder is a page editor that lets you set up an attractive professional-looking collection of pages for your course site. With this feature, you are able the option of choosing from one of the 3 in-house themes or export them from third-party vendors. Although you don’t edit your site in total control your site, you have plenty of customization options for you to experiment with. Alongside using page templates, you may also incorporate your unique branding components, like designs and logos, images, and other media types to your site. You can even modify it to fit your specific URL! How Does Thinkific Make Money

What’s the need for a domain name when Thinkific lets you create yours for free? You’re not only given the opportunity to build a platform you call your own. You’re also given the time to concentrate on launching and making profits from the content you create for your courses. With the Site Builder, you have the opportunity to create from a rich list of page options for your site like:

  • The homepage;
  • The landing page on which everything is redirected to your course;
  • The course page which allows students to select from your available courses;
  • The pages for sales and checkout where transactions are processed;
  • The sign-in page for your subscriber students to log in.
  • The Thank You Page; and
  • Other pages, for instance,
    • The student dashboard for details about the student,
    • The coming soon page is for future updates to the course, as well as
    • The page for student certificates.

How Does Thinkific Make Money

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Additionally, you may also set up what the site will appear like, aside from the typical desktop-style screen. The mobile version of the site that lets your students see the site and use your website using their phones, however, it is important to keep in mind that this option is limited to admin users subscribing to the plans with the highest price.

The Student’s Management and Interactions

Thinkific’s unique system helps edupreneurs like you build a solid relationship with the students that are testing the products you offer. The system’s data collection feature allows you to gain access to your students’ primary contact information after they’ve logged into the system. In addition to the easy data management features, Thinkific also has the Groups feature which makes it possible for you to increase revenues and efficiently track your courses’ effectiveness by dividing your students into groups according to cohort, company and time, as well as enrollment and job type.

The management aspect apart, Thinkific is also able to make it easier to manage teacher-student interactions without the stress of using social platforms such as Facebook and Discord. Its built-in Discussion feature lets you talk about the details from any of your courses and the Communities and Spaces functions provide a platform to create dedicated community forums of different themes and topics.

Notifications

Notifications can be a wonderful option for both you and your subscribers to be informed each time an issue related to the course arises. You may configure how your students will receive notifications in your administrator settings. You can choose to notify students updates on their progress in the course they have chosen, at a time whenever they finish the course, and every time a fellow student comments under the discussion section in addition to other things. How Does Thinkific Make Money

online courses, lessons and Credentials

The process of creating courses has been made easier than ever before, as Thinkific’s specially formulated online course editor can provide educators with a wide selection of templates and lessons on top of the customizable options we already mentioned. They also offer credential and certificate tools to be presented to those who successfully completed any of your courses.

Course Templates

Thinkific has a wide array of templates for courses that you can utilize without the need to worry about creating a course from the ground up. Each one of them can be customized, and you can create one to fit the curriculum you wish to offer.

1. Flagship Course Template

The most popular course is a major online course that focuses on the instructor’s chosen field of specialization. It allows you to create an enriching curriculum based on whatever you specialize in. If you are an expert in, say creating content, you may develop a course that is packed with detailed information about the subject.

2. Mini-Course Template

Mini-courses are the shortest, most affordable versions of the most expensive course. Imagine it as a teaser, if you are planning to. The mini-course template was created to draw in students and to generate leads for your full-fledged courses.

3. Pre-Sell Template

The pre-sell template is an excellent way to see how your course is received before it’s completed. It lets you put up the landing page for the course you’re offering to test if your targeted users are interested enough to try it out for themselves.

4. Digital Download Template

The digital download template lets you develop a course that can be downloaded after your audience, say opts in to your email list. This is a great way to generate leads and revenue when you want to extend your reach further.

5. Webinar Replay

This template for webinars allows users to post a recorded replay of your web seminar for your audience to review or catch up if they missed it.

6. Blank Template

If you’d like to create a fully customized course, there is an option to create a blank template where you can begin from scratch. You may choose from a range of lessons, techniques and tools to help you make the most of making your detail-rich course.

7. Membership Resource Library

The template for members allows you to upload useful learning materials that are included as a bonus. This useful feature is available in the event that you have a membership/course bundle.

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Lessons of Various Types

There are 12 kinds of lessons – or chapters – for you to choose from. The Course Builder offers instructors and mentors a broad variety of lessons, each that can be adapted to any topic, beginning with the chapter’s name to the files and information available for input.

Video Lessons

Video lessons are among the best and most effective methods for students to gain knowledge. Thinkific supports as many video formats as feasible, including MP4 FLV, MP4, and even MOV files. Once uploaded and integrated into the course plan the videos are then saved to the Video Library, where they are able to be used in subsequent courses.

Quiz Lessons

This lets you add in quiz elements by typing in the questions that students will see and then providing the answers for them to select from. This template for quiz chapters is entirely in multiple choice form and allows you to choose whether you want to have one or multiple correct answers.

Multimedia Lessons

Multimedia chapters let you link out to various streams of content beyond Thinkific. You can incorporate a lot of them, from the tools for webinars like Zoom to surveys, presentations and even to Google Docs documents. There is also the option of integrating other third-party creators of courses like Articulate Storyline and Adobe Captivate, but that is only available in both the Pro or Premiere pricing plans.

Text Lessons

The template for the text lesson chapter doesn’t just allow you to type text characters. It also allows you to include audio, images as well as downloadable files. There are even embedded hyperlinks that will take you to YouTube videos. How Does Thinkific Make Money

Survey Lessons

The specially designed survey forms from Thinkific let your students chime with their ideas, feedback, or anything into analyzed data that you can view. You can add this chapter during or after the course. You have three choices to you including scale-based, rating-based, or survey-based on answers.

Downloadable Lessons

This section is where you can upload zip files or PDFs, audio-visual files such as. for your students to download within the course player so they can have a readily accessible the course-related information to follow.

PDF Lessons

Apart from downloadable files, they are also able to be uploaded to your students to look over in the course. It is possible to incorporate PDF files, and then transform them into lessons that are readable for students to view without the need to download and then take them to take them home.

Presentation Lessons

Thinkific uses in-house tools to let you upload and showcase your slide presentations – in PDF form for your students in the course. It is possible to add a download link for students to use during their own free time, as well as a voice-over function which you could record on each slide.

Audio Lessons

With Thinkific You can put in videos, presentations, and PDF documents, among others. You can also add an audio-only chapter, by uploading MP3 files, like MP3, to any of your classes that your students can listen to.

Assignment Lessons

Chapters on assignment help teachers like you to collect student submissions like reports, projects, written essays, and more. Note that this type of chapter is only available in select plans that start with to the Professional plan.

Brillium Exam Lessons

Exam chapters allow you to pick from a greater variety of questions other than the typical multiple choice option, such as filling in the blanks. It is also possible to move on to more challenging questions by relying on answers from the previous ones, and also get comprehensive reporting information. This is made possible by integrating with Brillium that is restricted to the most expensive plans that start with the Premiere level.

Live Lessons

An option for live lesson chapters has recently been added to the Course Builder. Because it is in beta, we can expect it to have certain limitations in terms of function. The live feature is a great method for instructors to communicate relevant information to their students in real-time.

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Credentials and certificates

Only available for only in the Pro plan and up you can issue completion certificates and other certificates to any of your students who made it through the course you taught on Thinkific. This is made feasible by the integration of credential specialist Accredible. There is a chance that you may encounter a Thinkific-themed template for certificates that may appear rather boring. This is where Accredible can help by combining features and editing capabilities from each platform, you can choose the ability to alter how your certificates to appear visually including the borders and the text.

Other useful features of the course builder

The Bulk Importer feature allows you to upload as much files as you wish to add to your course at once. Unlike having to upload individually, this gives you more time to prepare and work on other tasks. It is particularly helpful for edupreneurs who have a lot of work to do.

The Drip Scheduler The Drip Scheduler, on the other hand, lets you to plan your lessons to a specific time and date. This feature is useful to keep your students active and well-balanced when it comes to storing data.

Payment Marketing, Selling, and Payment

The idea of marketing as well as selling the product or service to your desired customers can be more difficult to comprehend in the absence of the right tools to get up and running. Fortunately, plenty of LMS platforms, like Thinkific are equipped with the majority of, if not all of the necessary features for merchants that are ready to use.

Payment Options

If you intend to earn money from paid online courses, you may want to link your Thinkific account with one of the two payment companies which have been tightly connected to the platform. Stripe as well as PayPal are typically required to process payments from your learning subscribers. How Does Thinkific Make Money

We’re all aware of what PayPal does and the way it functions, as it’s one of the most common payment methods in the world. However, if you’re still not up to speed, PayPal is where you pay for products by transferring a portion of your balance funds to the company you’re buying from.

Stripe, on the other hand, handles cashless transactions for many other e-wallet companies around the world that work similarly to PayPal. It also processes debit and credit card transactions from different banks in different locations.

Pricing Options for Students

Setting up how much you’ll be able to offer your course content to your learners is an essential step in marketing your product and sharing it across the globe. Whether it is free or requires multiple payments, Thinkific offers four pricing options you can establish for students who wish to take advantage of it such as free, one-time payment, subscription or membership, and monthly payment.

  • Free – This allows you to offer content to your students at no cost. If you’re running a company this can be utilized as a lead-generation tool or an additional bonus to any of your paid-for services.
  • One-time payment – You pay students a single fee for the course material. You could also define an enrollment period for the length of time they will be able to access your learning materials.
  • Subscription/membership – If you’re in charge of a membership site, this option is the best one. Students are charged recurring monthly subscription fees to gain access to all of your content. Be aware that this feature is only offered in plans starting from the Pro tier.
  • Payments for monthly recurring payments – The entire cost of your program is broken down into monthly installments that are paid by the students, preferably without having to worries about financial burden on their part. Like the subscription method is only available through the Pro plan and upwards.

If you’d like to develop several pricing models for one of your courses, you are able to do so by making use of the “Set Additional Pricing” option.

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Other Methods to Promote Your Content

Coupons

Coupons are used to advertise the content of your courses and the bundles you purchase with it. They’re available to use for all of Thinkific’s paid plans, but in the Basic plan you’re only entitled to one coupon for free. You can customize your coupons to be compatible with how many services you’re able to provide – you can modify discounts, which is the amount it’s applied to, as well as the expiration date.

Affiliate Marketing

Thinkific offers a few features that allow you to recruit students who have subscribed to any of your courses to become affiliates. They can be used as an additional source of assistance in promoting your content to other potential student subscribers. Additionally, they could earn commissions from simply posting exclusive promo links to your courses online.

E-mail Marketing Marketing and Business Growth

There’s no other effective way to market your product online than using e-mail marketing. It’s also a good idea to know that Thinkific allows you to integrate with many third-party applications that specialize in it and include major e-mail-marketing platforms like MailChimp, AWeber, and ConvertKit. There are a variety of other marketing platforms to choose from and connect to on Thinkific’s App Store that we’ll discuss in the near future. It doesn’t stop there however, as Thinkific can also allow you to give your company and platform an important boost by connecting to the growth platform on the internet Sumo and the API tool.

Integrations

Like other online course platforms and in essence, every other web platform, Thinkific allows for seamless integrations with a vast range of third-party tools and services, all of which give a better experience for both the student and instructor.

Thinkific App Store

The Thinkific App Store is a recent addition to a long list of features that are available on the platform. All integrations with third-party solutions and services are now available to be easily access and utilized through the extensive app library. This is a huge improvement in how integrations are handled compared to earlier when integrations had to be handled by going through the settings. This feature is included across all plans of Thinkific, and every app in the store is available for free however some require a monthly subscription, while others offer services that are totally free.

Automation Services

If you’re an educator with an educational account that is paid for, it’s just as crucial to get access to tools built to automate all your tasks – and connect to many more third-party software platforms at same simultaneously. One of the services that let you easily automate tasks is Zapier. Zapier comes with two major functions that are helpful in managing your account and courses. The feature ‘Triggers’ is available in both Basic and Pro plans. Basic and Pro plans, and, it can do simple tasks for you, for example, adding those who signed up for one of your courses to your mailing list.

The ‘Actions’ feature, however, is jam-packed with more features that it has to offer but it’s only available to the Pro + Growth and Premier plans. Alongside Zapier, you can also use InfusionSoft, which lets you automate all your marketing and sales functions. InfusionSoft is a well-known automation tool for small-sized businesses who may not have enough staff or team members to handle marketing-related matters. How Does Thinkific Make Money

Analytics

Having a bunch of analytical tools is an effective method to gain insight into how well your services are received and influencing you to either continue or discontinue them, or even improve them. Thinkific lets you integrate with third-party services that focus on collecting data. One such application is Mixpanel, which contains advanced tools that do more than just count your opinions, but analyze student traffic between your courses.

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Segment.io is another highly sought-after platform that lets you transfer data in real-time to and from other data analytics and marketing services such as SalesForce, HubSpot, ZenDesk, and other services. When it comes to providing reliable and precise analyses, Google Analytics ranks number first on the web. Since it is an integral part of online selling It is easily linked to your Thinkific account by typing in the tracking ID. In addition, if you want to distribute the content of your online courses through social media, particularly on the most widely used social platform Facebook, you can accomplish this by integrating via Facebook Pixel.

Student Assistance and Student Success

E-commerce, analytics, and automation aside, Thinkific can easily connect with several apps specifically designed for student success. Accredible, which was mentioned earlier can be used to award completion certificates and manage credentials, but it is only available on plans called Pro as well as the Premier plan. Brillium can help you broaden the possibilities of your exams, and Disqus helps provide a platform to facilitate student-teacher interactions.

E-commerce Solutions

If a payment powered by Stripe gets into trouble, for example, being declined by your card, Stunning is there to save it from any possible issue with the transaction. Taxes are inevitable when it comes to managing an online course for business. Thankfully some platforms can help you with that easily, such as Quaderno.

Customer Support and Help Center

Thinkific provides a wide variety of customer service platforms you can contact anytime whenever you need assistance. The hotline for customer support is available via telephone or e-mail, with priority support for admin users who are on the Pro plan or higher. However, reaching out to an expert isn’t possible in terms of time, since it’s only available between Monday and Friday. There is no sign that live chat is available either. How Does Thinkific Make Money

In spite of the absence of direct support options, Thinkific has a help and training center with information that will assist entrepreneurs in establishing and running an admin account. It also offers a free course that teaches newbies how to develop, market, and sell their products efficiently as they can.

Alternatives to Thinkific

  1. Teachable. If you’re focused on selling and sharing your paid online courses with a larger public, Teachable has similar features as Thinkific and more, such as fast access through the mobile app, Teachable Payment, and an integrated marketing tool for e-mails. There are four plans available starting which include the base plan, which is $10 less than Thinkific’s, but they may charge you more transaction fees.
  2. Kajabi. Kajabi is a better LMS platform for any established entrepreneurial venture, and has the ability to customize options twice as extensive than other platforms. Additionally, it offers much more sophisticated features that meet requirements of big businesses. Apart from that, Kajabi is also among the most expensive sites and prices start at $119/month and no available free plan.
  3. Podia. Podia is the latest addition to the lineup of online courses platforms, offering decent, but achievable features that are priced at the same price as Thinkific. The only thing that some people don’t like yet about Podia is the lack of customization tools and customer assistance options, but this is understandable since most of them are coming soon.
  4. Udemy. If you’re looking at an alternative LMS option that’s especially great for beginner instructors, you may want to take a look at Udemy that is billed as the world’s largest marketplace for courses with over 42,000 creators of content and over 30 million users. Although you’ll be able to benefit from the majority of Udemy’s important functions, such as unlimited courses for free, expect higher transaction fees in the near future. How Does Thinkific Make Money

What We Like About Thinkific

  • Amazingly great pricing plans. Starting with the basic plan for as little as $39 per month each of the three tiers has tons of handy functions for a variety of requirements of entrepreneurs.
  • Zero transaction fees. Contrary to other LMS platforms that charge higher fees for transactions, Thinkific lets you enjoy all its features without having to think about the cost.
  • Flexible and easy flexible and convenient customization options. You are able to select from a wide range of topics, templates for courses and lesson formats, and then customize each one of them to the fullest extent possible.
  • An increased variety of payment options for students. Not only are you able to offer a one-time payment to your student audience and students, but you can also allow them the option of the option of monthly membership or payments to encourage them to maximize the value of the benefits you can offer.
  • Faster and accessible integrations with third-party platforms. The recent addition of the Thinkific App Store integrations with third-party e-commerce analysis, automation or educational platforms haven’t been so simple.
  • Smooth user interface. The web interface of Thinkific is fast in performance, from the playback of media to the course and website builders.

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Things We Do Not Like About Thinkific

  • No live chat support. While telephone support is a welcomed option, Thinkific is quite lacking in providing a live chat support option which allows users to speak directly to an expert regarding issues connected to the platform.
  • Difficulty adding coding snippets to classes. If you’re an expert in programming and coding and wish to make use of Thinkfic to create your courses, it would be best not to attempt this.
  • Lack of some built-in integrations. Thinkific does not have integrated marketing and sales funnel integrations. However you can get the same services through third-party apps that provide them.
  • The absence of tools to help with continuous education and credits. Thinkific may offer different kinds of credentials and certificates awarded at the end of each course, but it does not provide enough functionality to make one related to continuing towards future lessons. How Does Thinkific Make Money

Conclusion

If you’re ready to enter into the world of edupreneurs or expand your reach to greater heights You should give Thinkific the chance! This LMS platform has taken huge steps to accommodate users who wish to experiment with creating courses using the top features that other platforms do not usually have. It’s also amazing that you don’t need to worry too much about transaction fees upon transaction fee that impedes your progress.

Coursemaking, in all its forms is a major investment that can significantly impact your career in the long run. What sets Thinkifc apart from the rest is its Free plan offering. While it’s as limited as they come, it has enough tools to give newcomers to explore the waters and see whether it’s the best fit. It’s also risk free, so if you want to test it out, you can do so by signing up for the Free plan, check out Thinkific’s official site!

FAQ How Does Thinkific Make Money

Does Thinkific offer a no-cost plan?

Yes, it is! Thinkific offers a beginner-friendly plan that includes access to its core features including customer support and the course editor, but it will only allow one free course. If you wish for unlimited course creation you can test the other three plans, which are paid.

Is it true that Thinkific have transaction costs? Does it also charge a percentage of my earned sales?

No! There are zero transaction fees associated with Thinkific’s plans apart from the ones associated with payment options. Additionally, it does not take a large amount of your income since Thinkific makes the majority of its money from the paid plans.

Does Thinkific integrate with Zoom?

Integration with the messaging service Zoom has been made possible on Thinkific as of the middle of 2020. This will be particularly helpful for powering Live Lessons, which also is the LMS platform’s latest features. Note that these features are only available to those who subscribe to the Pro plan and up.

Does Thinkific mobile-friendly?

Yes. Although it doesn’t have a dedicated mobile app, the Thinkific interface can easily be converted to be more appropriate for mobile, phone-friendly use on mobile browsers, such as Safari, with most of the same features available in its web-based counterpart. How Does Thinkific Make Money

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