8 Must-Have LMS Features Your Organization Needs
Every organization considers ROI when choosing their new LMS. But training companies have a different definition of "returns." It’s not merely about improving on-the-job performance and avoiding compliance risks. Their pay-off for your company is selling online courses, bolstering client loyalty, and tracking user engagement. The trick is to find a platform that offers the functionalities you need to generate more revenue without going into the red. Which profit-boosting LMS features for training companies should your training organization look for?
1. Storefronts To Boost Sales
You need a place to set up shop and start selling your wares. In this case, online course signups, content bundles, and online training subscriptions. The storefront should reflect your company’s flair. So, look for an LMS with customizable settings, ranging from color schemes to checkout buttons. You should also be able to adjust the layout of your storefront to showcase your top sellers and improve the overall aesthetics.
2. Branding
Online training content is your source of revenue, but it also doubles as a marketing tool. Learners log in to the online course and they get to know your brand as they explore the topic. The logo and color scheme welcome them to every module or activity, which gradually builds trust and credibility. They know what to expect when they access the online training course and that your company vouches for the online training content quality. This is the power of LMS branding. Verify that your eLearning tool of choice has white labeling LMS features so that you can raise brand awareness.
3. Live Event Signups
Users sign up for upcoming events to give you an accurate headcount. You can opt for offering a free event to generate more interest in your online training course or introduce new memberships. Or sell spots in the webinar to increase revenue. The LMS should have tie-in features to help you monitor RSVPs, payments, and other hosting functions as well as automatic notifications for attendees so that they know their place is reserved and receive reminders ahead of time.
4. User Tracking
Your clients must track their employees’ training progress, so your LMS needs all the "traditional" reports. However, it should also have another set of metrics for your training company. From conversions to user engagement metrics. For instance, how many people signed up for your online training course this month versus the last one? Is there an online course that has declined in popularity in the last year and why? How much visitor traffic do you get from a specific marketing resource, like your social media page?
5. Certifications
Certifications can be a money-making machine when implemented correctly. Many training companies use them as a standalone revenue stream and offer them as tie-ins for live events and online courses. For example, online learners who attend your "wellness 101" live event might benefit from your stress management certification program. That said, certifications are also a worthwhile investment for your clients, such as those who purchase content bundles for their staff and want to provide supplemental L&D opportunities. Consider LMSs with certification management tools, such as tracking and automatic notifications.
6. Affiliate Sales
Some training companies have full-time sales teams who handle new sign-ups and basic customer service duties while others rely on affiliates to promote their products and bring in new clients or individual online learners. If you do want to boost sales through affiliate networks, you must ensure that your LMS is up to the task. Can you track individual sales stats? Are you able to see where new learners are coming from to ensure that the affiliates are properly compensated?
7. LMS Vendor Hosting
One of the most overlooked LMS features for training companies is hosting. Look for LMS vendors who host the platform on their server to cut costs and alleviate IT headaches. For example, upgrading the infrastructure or paying for hosting fees and LMS domains. You should also verify that the server can handle large amounts of traffic to avoid unhappy clients/learners and that there are advanced security protocols in place to prevent data breaches.
8. Built-In Cart And Catalog
The LMS storefront gives clients and learners a visual inventory of your products/services. However, they need a way to pay for the online training courses that pique their interest or help them achieve their business objectives. The LMS must also make it easy for them to find what they’re looking for via quick searches and categorized lists. For this reason, your LMS for training companies must have a built-in cart and online training content catalog. In some cases, the LMS vendor partners with a payment service provider via integrations. Your customer checks out via the secure payment gateway, and the payment service provider processes the payment and takes a percentage. The catalog is crucial because it shows users the wide range of virtual products you provide. They can also type in a keyword to see online training courses that cover different topics or skillsets.
Every business has a finite budget. So, you need to make your investment count and choose an LMS for training companies that covers all the profit-boosting bases but omits all the pricey extras you can live without. These LMS features for training companies can help you grow your brand and meet client expectations, regardless of your industry niche. Take a few test drives to see which platforms are worth the price. Just make certain to keep these checklist on-hand so that you know what to look for.
Finding the ideal LMS for your organization is a must when you need to employ an effective online training strategy with maximum ROI. The eBook Building Your eLearning Brand 101: Tips To Choose And Implement An LMS For Training Companies That Exceeds Your Expectations will help you discover everything you need to know when opting for an LMS for training companies in order to achieve your business objectives.
