Free LMS Selection Services Prep: 6 Tips To Determine Your Price Expectations
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How To Determine Your Price Expectations Before Using Free LMS Selection Services

Free LMS consulting helps you find a system that meets your needs and falls into your price range. However, you must be aware of your LMS budget and cost expectations before you sign up for free LMS selection services. How much do you expect to pay per user? How much are you willing to invest in the right system? Companies who are new to the world of learning technologies may find it challenging to put a ballpark figure on their LMS budget. However, these 6 tips can help you get the most out of free LMS selection services by doing some background prep.

eBook Release: LMS Vendor Selection Process Made Easy: Tips To Use Free LMS Consulting To Improve eLearning ROI
eBook Release
LMS Vendor Selection Process Made Easy: Tips To Use Free LMS Consulting To Improve eLearning ROI
Download this eBook to discover the top LMS vendor selection criteria and how LMS consulting can help you achieve the best value for money.

1. Ask Around

It’s often difficult to gauge how much something is worth. That’s why we always fall for the $9.99 gambit. We let our emotions interfere, and we’ll pay more for a product just because it falls into that magic price point. And while money-talk is taboo in many communities, it’s essential in business. If you want to know the ‘right’ price for an LMS, ask around. Talk to people in similar industries, or do a Google search, just to give you a round figure. Many Learning Management Systems list the pricing on their websites, but the price often has an asterisk (*) on it. Read those asterisk (*) notes carefully. They’ll be included somewhere on the web page, in italic small print, and they could make all the difference. You can also sign up for social media groups that focus on eLearning and learning technologies. Then ask for general estimates regarding LMS sign up fees, ongoing maintenance, etc.

2. Review Your Current LMS

If you’re already using an LMS, why do you want to change? What new features are you looking for? Can your existing LMS be tweaked or upgraded to meet your shifting needs? Would the update cost less than buying completely new software? Have your staff numbers changed and, if so, do you want to cater to more users or less? This is important because many Learning Management Systems have a user cap and charge an extra fee for every additional user. Having a list of LMS requirements beforehand will make your LMS consultation easier, faster, and more effective. It also allows you to determine if you’re overpaying for LMS features you don’t even use so that you can streamline your LMS budget before finding a replacement. For example, input a lower ‘price per user’ estimate during the LMS consultation or omit certain features/functions from the criteria.

3. Consider LMS Maintenance Costs

There are different types of Learning Management Systems. Some come as a complete package, so if you need any adjustments, you have to go back to your LMS vendor. Others are more of a template that your IT department will need to tweak for your needs. If you opt for a pre-packaged LMS, you may need to pay an annual licensing fee. And there could be an additional cost for upgrades. You should also think about related costs like storage space on your server. If it’s cloud-based LMS, you might still need to buy designated GBs if you exceed your max. Or you require specific hardware to run the LMS, like tablets or phones. Have all these specs ready before using LMS selection services.

4. Look Into The LMS Pricing Rationale

It’s not enough to glance at price lists, because they can seem arbitrary. For a more accurate estimate, find out how the LMS price was calculated. If you can, speak to the sales staff and find out how the price is broken down. You can ask if the LMS price adjusts when some features are opted into or out of. You could also check if they can customize certain functions for you or provide add-ons for your organization. Verify the price implications of these additions or subtractions to the bottom line. Some LMS vendors may even break down the costs on their site so that you can determine your price expectations before your LMS consultation. For example, review their itemized list and estimate how much it’s going to cost to get all the LMS features you need without venturing out of your price range.

5. Use An Online LMS Directory To Scope Out Pricing Models

LMS companies offer different pricing models that play a crucial role in the LMS selection process. While some charge by user, others require a flat fee that’s the same regardless of how many people you enroll. You can use an online LMS directory to scope out the various LMS pricing models to determine your price expectations more accurately. This also gives you the opportunity to see how much product you can actually afford. For instance, the LMS vendors who fall within your tight budget don’t offer every item on your must-have list. Thus, you may have to reevaluate your needs versus your wants.

6. Estimate Your User Count In Advance

You need to have an accurate account of how many users you need to accommodate now and in the foreseeable future, given that many LMS vendors charge per user. It’s also important to note that some have ‘active user’ policies. Which means you only have to pay for corporate learners who access the system within a certain time frame, such as every 30-days or quarterly. Evaluate how many employees you have on staff and add staff members who may be joining your organization in the near future. For instance, during the holiday season when you have a temporary hiring surge. You should also take external partners into consideration.

Prepare for your free LMS selection services with some groundwork. Ask industry peers or use search engines to find out about typical LMS pricing. If you can, get the relevant people on the phone and talk through their process of arriving at this figure. Look past prices and consider the cost of maintaining your LMS. Finally, do a thorough assessment of your current LMS and why/whether it really needs to change. Your free LMS consultant might point out improvements that don’t necessarily involve buying a whole new LMS.

Receive a free LMS consultation in 4 easy steps. Simply provide your company details, project info, and implementation details to get your personalized LMS recommendation list.

Do you know all the ways free LMS consulting can help you? Download our free eBook LMS Vendor Selection Process Made Easy: Tips To Use Free LMS Consulting To Improve eLearning ROI to find out how to make the most of free LMS consulting, how it can help you achieve value for money and much more.

eBook Release: Thinkific
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