Four Steps to Launch a Scalable E-Learning Business
By Kathly Alameda
Technology has changed the way we learn; education is no longer limited to the walls of the classroom. With the boom of eLearning, educators are embarking on the journey of switching their classes from offline to online. An eLearning business is an online platform run by an individual or a business for selling online courses and eBooks. While establishing an eLearning business is a daunting task, with the right strategies and tools, you can accomplish your goal.
eLearning reduced the learning time by a minimum of 25% when compared to classroom-based learning. Blended with the benefits of self-paced learning, eLearning is a time and cost-efficient learning method for both students and tutors. Let’s look into the benefits of eLearning further.
Accessibility for worldwide users
One of the greatest benefits of eLearning is that it is 24/7 accessible for students across the world. eLearning facilitates access to courses when they have the time and convenience to do so.
Scalable for any number of students
eLearning business can easily be scaled up to accommodate any number of students in many languages as per the requirements of tutors.
Fits for a flexible lifestyle
Today, students demand eLearning solutions that fit their busy and flexible lifestyles. Offering courses that can be accessed when it works best for them accounts for your student's need for flexibility.
eLearning is student-centered
eLearning goes hand in hand with student-centered eLearning due to the easy integration of discussion boards and grading systems. When you start an eLearning business, plan and design student-centered eLearning environments to promote student-tutor and student-student interaction.
eLearning is cost-effective for both students and tutors due to reduced travel costs and simplified logistics. Cost efficiency of eLearning can also be beneficial when combined with classroom-based learning. This can be beneficial for educators who are not yet ready to switch to eLearning.
Customizable learning space
A desirable learning environment online will have a positive impact on the performance of the students. Traditional classrooms lack the flexibility of customizability. Whereas in an eLearning environment, tutors have control over the eLearning space. If you are looking to start an eLearning business, you can customize the eLearning platform according to your needs and offer control to tutors to modify their online space with the features and tools they need.
Utilizes data analytics
eLearning platform utilizes data much more effectively than traditional learning. eLearning analytics helps with collecting user data to gain valuable insights about student’s activities. Analytics can also help tutors understand about the performance of courses and determine which type of courses perform better.
Solve tutor shortage
The issue of teacher scarcity is real in a classroom setup. But in an eLearning environment, courses compiled by one or two expert tutors can cater to thousands of students. Instead of focusing on hiring more teachers to your eLearning platform, you can focus on recruiting a few experienced and best-quality teachers to serve a wide range of global students through online eLearning.
Launching an eLearning platform
When you think about disrupting innovations that help to expand knowledge and skills, eLearning stands out. eLearning platforms allow students to access courses anytime and anywhere regardless of geographical barriers. eLearning business is a scalable business allowing educators to make incredible sales every day without any additional cost.
Here are some of the steps to start an eLearning business.
Choose an industry
If you are an educator who is already in an industry that fits the eLearning space, you are on the right track. Or select an industry that is suitable for online eLearning like education, information technology, business operations, health, and fitness. Rather than being a generalist who launches courses on random subjects, you can be a specialist in a specific niche.
Create a business plan
A well-thought business plan is necessary for a successful eLearning business. Before creating a business plan, do market research to understand the competition. You must also create a revenue generating plan to have an idea about how your eLearning business would generate revenue. Another important aspect to include in your business plan is the pricing of your online courses. Make sure you set the price by considering the quality of your courses and the overall value provided. Understanding how your competitors price their courses would help you while pricing your own courses.
Building an eLearning platform
One of the key steps to launch an eLearning software development is to build an eLearning platform. The eLearning platform will be the main avenue where students can access the courses. The success of building a fully functional eLearning website depends on the development method you choose. While you can choose to build your eLearning site from scratch, it is going to be quite a lengthy and costly method. The best method is to use online tutoring software to build your eLearning platform with key features for creating and publishing courses. Investing in a ready-made software will also facilitate fast deployment and help to reduce cost. This also allows you to add your branding to the eLearning platform without spending a fortune on the development procedures.
Market your eLearning business
If you market your eLearning business by following the right strategies, you are half done. When you promote your business, choose strategies by keeping your target audience in mind. Social media marketing is one of the marketing strategies you can use to promote your online courses. Use popular social platforms like Facebook, Twitter, Instagram, and YouTube to reach out to your audience and promote your online courses and classes. Email marketing is another efficient marketing strategy used by eLearning businesses to attract new audiences and drive traffic to the learning platform. To make your email campaigns work, make sure you customize each of them before sending them out to your prospects.
eLearning is one of the most lucrative markets considering the current scenario where students are not able to attend classes due to the closures of educational institutions. There has never been an apt time to make your entry into the eLearning business. By fostering a network of the audience, hiring the right tutors, creating a functional eLearning platform, you will succeed at building a scalable eLearning platform.