How to Build Your eLearning Business with Online Training Courses
How to Build Your eLearning Business with Online Training Courses eLearning is a prominent buzzword in the Learning and Development domain. Online coaching, remote tutors, virtual workshops, and remote learning resources have exploded in popularity and innovation. Organizations increasingly realize how impactful and rewarding it can be. Over 40% of Fortune 500 companies regularly use eLearning extensively. Because of its wide-ranging advantages over conventional learning, the online training industry has become one of the fastest-growing industries on the web. Entrepreneurs can leverage this opportunity to build and grow a lucrative eLearning business. Read ahead to discover how you can do so: What Makes eLearning Superior? eLearning exhibits some of the most radical advantages over traditional training. It reduces the learning time for employees by 40-60% compared to conventional learning. It further enhances the learners’ retention rate to over 25-60%, compared to 8-10% in the case of one-to-one tutoring. eLearning lets learners quickly revisit what they learned and have more control over their learning process. They can set their own learning pace, skip what they already know, and focus on learning only what is needed. It also contributes to an 18% increase in employee engagement. Employees don’t have to be physically present at the training venue or stay extended hours, giving them extra time to learn and improve. eLearning courses decrease CO2 emissions per person by over 86% and energy consumption by over 90% compared to face-to-face sessions. Not to mention, they are much more cost-efficient than in-person training. These advantages, combined with the availability of AI-powered training software like CALF LMS, have helped significantly grow the market for eLearning. The global eLearning market is predicted to be worth over US$350 billion by 2025. Mobile learning is one of the fastest growing markets in the eLearning sectors, with its value expected to go over $80.1 billion by 2027. Steps To Build an eLearning Business Here are the essential steps to build your eLearning enterprise in 2022 and beyond: 1. Identify Your Target Audience When you start an online training enterprise, you must first identify your target audience and understand their pain points and interests. This is essential for you to produce relevant and quality learning offerings. You must ask questions like: How old are they? Where are they located? What kind of courses do they want? How much knowledge/proficiency do they already have about the topic? What do they aim to achieve with the acquired skills from the course? What languages do they know? Such key factors can help you create the persona of your target audience. 2. Decide Your Core Learning Content Enumerate the core skills your learners will desire the most in your niche. These specific lessons will have the biggest impact on your learners’ success. Exploring google trends is one way of finding the latest trending content topics. For instance, if you are building an online coaching business for creative freelancers, include core lessons around acquisition, negotiation, productivity, etc. Or, if you are providing online coaching to marketing professionals, create core lessons around content marketing, paid acquisition, organic website traffic, etc. You must analyze contemporary trends and look for content that will stay relevant in the future to retain and increase learners. 3. Create the Lessons It is best to create a few lessons for your core online training courses and get initial feedback before going live with your business. You can send the courses to friends, hire relevant freelancers to review the content or focus groups to give detailed impressions. High-quality and relevant content is important for high early admission and positive audience response. Consider including a few actionable lessons or workable modules for the core content. With CALF LMS, you can complement the lessons with relevant surveys, quizzes, handouts, exercises, etc. This will help generate early results/progress for the learners and set the tone for future content. It is essential to develop structure in your online training curriculum. People will choose systematically organized over courses on other platforms. 4. Choose the Right Platform To build and grow your eLearning business effectively, you need a robust eLearning platform with industry-relevant features, such as the CALF LMS. It is an elaborate AI-powered training software that helps you seamlessly create, manage, deliver, and monetize your learning content at scale with the convenience of your iOS, Android, web, and tablet devices. It helps you build your own controlled learning environment through an AI-driven intuitive workflow specifically customized for your business. You can manage, schedule, and deliver training in all forms-instructor-led, self-paced, virtual, or blended. It further supports all types of content, including audio, video, external links, images, documents, and SCORM files. CALF LMS provides a robust e-commerce engine to effectively create, brand, and promote your eLearning offerings on its marketplace. You can determine the look and feel of your landing pages by customizing their color, theme, logo, font, etc. 5. Integrate With the Right Tools You need specific tools to help grow your business, like email software for effective communication with your clients, in-app notifications, APIs to enhance the functionality of the platform, video conferencing tools to record and repurpose training sessions, etc. All of this can be taken care of seamlessly with the CALF LMS. It has built-in plug-and-play APIs and connectors that help share information between CALF and the other system it integrates with, like the HRMS, PMS, CMS, CRM, and other LMSs. It also supports platforms like Mailchimp, Darwinbox, SAP, ZOHO, Gmail, and Outlook, and virtual event platforms like Google Meet, Zoom, Teams, GoToTraining, GoToMeeting, and WebEx. 6. Determine the Pricing The objective of any business is profitability. You need to price your courses smartly for your eLearning business to grow. The audience might undervalue your content if the price is too low, whereas high pricing can hinder registrations. Conduct a competitor analysis to find out how similar courses are priced. The pricing will also depend on the course content, duration, complementary activities, and instructor experience. You can initially offer discounts to gain a firm footing in the market and accelerate your revenues. The CALF LMS integrates with gateway portals like Razorpay, Paypal, and Stripe to make the payments seamless. 7. Market Your Business No
Buyer’s Guide -Things to look for in a learning and development solution
Buyer’s Guide -Things to look for in a learning and development solution The American Society for Training and Development says that companies offering comprehensive training programs enjoy a 24% higher profit margin, 218% higher income per employee, and 26% higher price-to-book ratios than businesses that invest less in their learning and development. Robust learning and development have numerous advantages that directly affect a business’s bottom line. Done right, learning and development help- Empower the employees and improve their soft skills Retain top talent Boost employee confidence, engagement, and productivity Increase the employees’ trust in their employer Earn more profits A recent report mentions that over 93% of the employees of a company would stay there longer if it invested in their career development. Well-trained employees with an in-depth understanding of the company’s offerings and values can handle customer conversations effectively and serve them better. But choosing the right learning and development solution can often overwhelm businesses. If you face a similar predicament, here are the most essential things you must look for in a training solution: 1. Understand Your Training Needs Before choosing the right platform, you must first define the training’s requirements and expected business outcomes. What kind of skills will the employees need? Mathematical, behavioral, problem-solving, management, leadership, or decision making? How will the training content be delivered? Will it be an online training, virtual, in-person/instructor-led, self-paced, or a blended program? Understanding and clarifying such requirements will help you select the right training software and craft the most suitable learning journey. 2. Scalability A learning and development solution should be able to meet your current as well as future requirements. It should not only provide seamless learning but also have the ability to scale. The E-commerce engine of the CALF LMS allows you to grow your business by creating, branding, promoting, and monetizing your e-commerce offerings on its all-in-one marketplace. You can thus grow your learners, enhance organizational performance, increase revenues, and demonstrate ROI to the clients to effectively scale up your business. 3. Excellent Performance Standards You want training software that constantly establishes high standards of excellence in its performance. The elaborate features of CALF LMS make it ideal for vital use cases in various industries, including healthcare/pharma, educational management, retail, banking, food packaging, etc. Software suggest awarded CALF LMS the ‘Best Usability’ and ‘Great User Experience awards for two consecutive years, 2019 and 2020. It was also awarded the ‘Best Software’ in 2021. 4. Usage Of Best Practices A good learning solution helps you effectively evaluate and improve your learning content’s business impact and ROI. CALF LMS is the only platform in the world that allows you to measure the behavioral, social, and business impact of the learning through its in-built Kirkpatrick model of training effectiveness. The behavioral impact is calculated through the LAP (Learning application post), while the business impact comes with metrics like ROI, productivity, cost-reduction, and other user-defined metrics that are validated by supervisors. 5. Industry-Relevant Features On-demand learning, video streaming, and various learning formats are the norm in today’s training industry. The CALF LMS has dealt with rapid industry developments with features like an e-commerce marketplace for monetizing your training content, detailed reports, data analytics, and much more! It also has AI-powered personalized course recommendations tailored to different job specifications and learning styles to boost audience engagement and motivation. 6. Accessibility Besides quality, easy accessibility is vital for an effective learning and development solution. CALF LMS helps you deliver simplified learning seamlessly and at scale. It is easily available on the web, tablet, and native mobile apps on iOS and Android. Combined with an efficient and easy-to-use UI/UX, it can provide a fantastic learning experience on the go. 7. Microlearning Microlearning refers to breaking up the course content into small, bite-sized learning chunks that usually last 2-5 minutes. Such content can easily fit into the busy workdays of the learners and is easier to repurpose and refresh. As per research, microlearning can significantly improve focus, create 50% more engagement, and increase knowledge retention by over 80%. CALF LMS helps you easily deliver just-in-time microlearning courses to the learners. It comes with numerous assessments, assignments, surveys, flashcards, and authoring tools to help you get creative with your learning content. 8. Strategic Integrations You must look for training software that gives you a complete learning experience backed by strategic integrations with the right technologies. The CALF LMS integrates with systems like HRMS, PMS, CMS, and CRM, among others. The platform’s built-in plug-and-play APIs (application programming interface) and connectors help seamlessly share information between the systems. The platform further integrates with gateway portals like PayPal, Razorpay, and Stripe for efficient payments and software like Darwinbox, Mailchimp, SAP, ZOHO, Teams, Gmail, PowerBI, SalesForce, Office 365, etc. for an all-round seamless user experience. It also supports virtual event platforms like GoToTraining, GoToMeeting, Zoom, WebEx, Google Meet, Teams, etc., to help the learners communicate better and work in an instant messaging environment for an efficient workflow. 9. Customizability Businesses have varying demands for a training solution based on their needs. Hence, customizability is of prime importance. The CALF LMS helps you personalize the clients’ learning journeys with AI-powered course recommendations and customize the journey the way you want. It can include online training, coaching, assessments, surveys, and more. You can administer and personalize the learning journeys for different clients and generate desired reports on their progress. You can also create custom metrics to measure the business impact of your learning. The platform allows you to manage and schedule learning events and deliver them in different types- instructor-led, self-paced, virtual, and blended. You can easily customize the look and feel of your e-commerce page on the platform’s marketplace for better branding and promotion. 10. Engagement Going through the training content and learning independently can often be overwhelming for people. You need an engaging learning and development platform that promotes social learning, as over 20% of learning happens this way. For instance, the CALF LMS helps improve engagement and promote social learning by allowing people to learn from each other, access subject matter experts, and solicit advice.
What is Learning Acceleration?
What is Learning Acceleration – 2019? Today, we see a lot of leaders talk about learning acceleration, and I thought it’d be helpful to spend a few minutes thinking about this, in depth. How do you define “Learning Acceleration”? Having been a physicist, I need to say that learning acceleration involves a time component, and it should be properly defined as the how fast the learning velocity changes. But that is not really transparent and best understood with an example: it’s fairly obvious that human beings learn new things very fast as children and as they grow older, learning slows down. So let’s stick with something more understandable: how fast you learn new things. That should suffice. Note that the learning doesn’t necessarily have to be one dimensional – for example, acceleration in sales techniques, etc. Learning is in general, multi-dimensional. In today’s world, multi-dimensional learning is just as important as learning something very deep. More and more disciplines like biology, physics, chemistry, math, computing, geology, environmental sciences etc. require learning in multiple disciplines to arrive at a deeper understanding of natural phenomena. Why is “learning acceleration” important? Learning Acceleration has become important with the rate of technological changes afoot. Learning acceleration has always been important from time immemorial. It has been the difference between leaders and others i.e., leaders need to learn faster to be at least on par with their peers, if not ahead. But “Learning Acceleration” has also become important for companies to think about and start to worry about. One way to calibrate learning for an organization is to take the Learning Culture Survey (LCS) periodically and measure movements – say for teams, departments and organizations as a whole. How do you “accelerate learning”? We’ll visit this topic in my next blog topic as this is a whole field in itself. In the meantime, it will be helpful if you could share how you are accelerating learning in your organization.. I look forward to your thoughts and comments. Balasubramanian Krishnan, Ph.D. Explore our thought leadership Similar articles on learning management Top 10 Must-Have Features You Should Look for in Your July 26, 2021 Top 10 features LMS Read more How a Learning Management System can help the BFSI industry July 26, 2021 BFSI industry Read more 10 Key aspects to look in a Learning Management System August 3, 2021 10 key aspects-2019 | Feature-3 Read more
