Tips To Make A Successful Business Case For Your Virtual Training Program
If you are looking to upgrade your generic web conferencing and online training tools, here are some best practices to establish the business value of specialized virtual training solutions. These can help you win over stakeholders and secure funding for your new virtual training system.
Tips To Establish The Business Value Of Virtual Training Solutions
1. Connect Virtual Training To Business Objectives
The most important part of building your business case for a virtual training program is to convince the key players that there's a need for one to begin with. Every organization has pain points, even the most successful ones. Identify those problem areas, explain how they could be improved, and set out measurable goals that can be achieved by implementing a virtual training solution. For example, a new VILT system can improve practical application and peer-based knowledge sharing, reducing overall time to value.
2. Break Down The Expected ROI And Investments Involved
It all comes down to the almighty dollar. It's crucial to present your stakeholders with a well-structured report on the costs and the returns. Focus on the increase in employee performance and productivity that will ensure a boost in ROI. You can also draw their attention to the resources that could be saved by eliminating various aspects of traditional training, such as site rental fees. Another option is to present the estimated costs, including upfront purchase, additional payroll, and tie-in content necessary for a smooth transition into the new virtual training experience.
3. Identify Risks And Provide A Back-Up Plan
For your business case to be effective you might have to play the devil’s advocate from time to time. Explore any risks involved, such as unexpected delays, hidden costs, or pushbacks from the team members. Then offer a detailed plan of action to deal with any issues that might occur. If you don’t, the stakeholders might be daunted by the challenges before they have the chance to consider the benefits of the virtual training program.
4. Explore Innovative Uses For The Virtual Training Tool
Drive your point home by exploring all the innovative real-life applications of the new virtual training solution. For example, instead of working on theoretical scenarios, such as the ones offered by the traditional web and face-to-face training methods, employees will get access to first-person point-of-view training simulations. Therefore, they will be able to host virtual customer training events and deal with real problems in a contextual environment.
5. Outline The Implementation Timeline
Moving forward with the business case, you must let your management team know how you plan to successfully implement the new virtual training solutions. Prepare a complete rollout strategy that maps out all the steps of the process, the tools that will be selected, as well as the people responsible for each step. Don’t forget to reassure stakeholders that you have prepared alternative solutions in order to mitigate potential risks. For example, it may take longer for your team to familiarize themselves with the tool or prep the necessary curriculum. But you've already thought ahead and left a little wiggle room to avoid rollout delays.
6. Include A List Of Top Choices
Now would be a good time to get more specific about which tools will be needed to bring your proposed virtual training solutions to life. Highlight the top available choices and explain what makes them stand out in the virtual training market, as well as the benefits each one would bring to your organization specifically. It is also important to talk about costs at this point. What are the initial purchase and ongoing expenses for each tool? Which pricing models do they use? Do they offer free trials to instill buyer confidence and reduce financial risks?
7. Highlight The Alternatives (And Their Drawbacks)
Just before wrapping up, take the chance to discuss any alternative solutions to the initial problem areas you identified. It's always more favorable to present a flexible project to the stakeholders, as it gives them the freedom to adapt accordingly. However, if you want your business case to be complete, you should also cover the possibility of nothing being done and the organization proceeding with the current tools and training strategy. For example, you can stress how not upgrading your training procedures can lead to safety risks and subsequent higher L&D costs due to travel expenses, printed material costs, etc.
8. Summarize And Give Your Recommendation
Lastly, briefly summarize your key points and provide your personal recommendation on how you can best achieve the desired goals. Weigh the pros and cons while also recapping the implementation timeline, costs, and tools involved. Thus, the stakeholders will immediately have access to a spherical view of your plan, which could expedite the evaluation process. You can also take a more holistic approach by outlining the supplemental resources you require. For instance, you'll need to develop JIT support activities and modules to unlock more online training possibilities and increase employee participation.
Summary
Change is inevitable. If you don’t want to be left behind and suffer from skill stagnation, you must follow current trends. With these actionable tips in hand, you can form a thorough and convincing business case that will help you convince stakeholders and prove virtual training solutions ROI, while also avoiding the most common implementation pitfalls. Are you ready to see Adobe Connect's virtual training versatility in action? Sign up for a free trial to test out the features, functionality, and amazing support.
Whether you're just starting to dive into virtual training strategies or would like to improve your existing VILT approach, this guide is an essential read. Download the eBook The VILT Instructor’s Handbook: How To Launch A Top-Notch Virtual Training Program On A Tight Timeline to enact meaningful change and leverage the full power of online training platforms.
