Successful Training Providers Provide You With Tips To Grow Your Training Business
The global eLearning market is expected to grow by 5% by 2023, exceeding $240 billion. The demand for modern, personalized approaches to learning continues to gain pace, but in-house training teams are "scrambling to catch up" (Deloitte). Training providers with an eye on the future recognize what learners, and their employers, are calling out for; they are already stepping into the void left by struggling in-house training teams. The most successful are starting to leave clear ground between themselves and their competitors.
Great course content, the backbone of most training organizations’ brand integrity, is no longer enough to keep ahead in the training industry. The modern day professionals learn on demand – when they want, on any device they want and, crucially, what they want. Simply converting courses to digital format won’t compete with free online content out there.
Those still offering long or "one hit" courses are finding they are no longer the right fit for busy, "always on" learners – especially those who need training to fit into smaller pockets of time, and be part of a continuous performance improvement process.
Characteristics Of The Most Successful Online Training Providers
The most successful online training providers have got solution design down to a fine art. They are making smart choices when it comes to the learning products they’re harnessing; the strategic framework they use; their production processes; and the technology that enables them to deliver great products at scale.
They also know it is hard to make digital learning profitable – unless they have an easy way to make it personalized to learners, customized for clients and deliverable at scale.
The most successful training providers are increasing revenues by:
1. Differentiating Offerings
Delivering the best learning experiences on the market is key to attracting and retaining customers. The best training providers are targeting real needs; providing quick fixes and deeper learning experiences; engaging learners and getting them to come back for more; and using data to continually refine and improve their online training products.
2. Increasing Speed To Market
A streamlined design approach and production process to deliver personalized learning, efficiently at scale is a must for those looking for growth. The right balance of in-house and agency expertise, with an aligned strategic framework that is geared towards building value and improving ROI have a significant impact on how fast products can be released, refined and scaled.
3. Future-Proofing
Successful training providers are investing in a learning technology growth stack that will deliver on learner and business needs in 2, 5, 10 years and beyond. Flexible distribution and access, content curation, social learning and reward mechanisms are key features of the next generation of learning technology.
4. Getting More From Authoring Software
The right authoring platform is key to scaling the production of digital learning products, a must for ambitious training providers. How well you are able manage assets and translations; repurpose and refine content; enable collaboration and review in the production process.
These 4 points all come back to the ability to deliver really high quality learning products, and do it efficiently at scale. Read more about these in our eBook How To Grow Your Training Business Faster, Smarter, And More Profitably.
Related articles:
1. Going Digital: How To Grow Your Training Business
2. 7 Tactics To Grow Your Training Business Faster, Smarter, And More Profitably
3. How To Grow Your Training Business Faster: Increasing Your Speed To Market
4. 3 Powerful Strategies To Create Learner Engagement In The 21st Century
