The market for selling online courses has been experiencing significant growth in recent years. In 2020, the global e-learning market was estimated to be worth around $200 billion, and it was projected to reach over $375 billion by 2026. These figures encompass various forms of online education, including online courses. However, it's important to note that the online course market represents a significant portion of the e-learning industry.
Several factors have contributed to the growth of the online course market. These include advancements in technology, increasing internet penetration, the rise of e-learning platforms, and a growing demand for continuous learning and upskilling. Furthermore, the COVID-19 pandemic has accelerated the adoption of online learning, as many people turned to remote education during lockdowns and social distancing measures.
The market for selling online courses is diverse, catering to a wide range of subjects and industries. It encompasses educational institutions, individual educators, corporations, and platforms that facilitate course creation and distribution. The popularity of online courses has attracted both established educational institutions and independent instructors to enter this market.
With the continuous growth of the e-learning industry and the increasing demand for online education, it is likely that the market for selling online courses will continue to expand in the coming years.
The Growing eLearning Need for Businesses
The growing need for e-learning in the business sector has been driven by several factors. Here are some key reasons why businesses are increasingly adopting e-learning:
Flexibility and Convenience
E-learning allows employees to access training and educational materials at their own pace and convenience. They can learn from anywhere and at any time, which is particularly valuable for geographically dispersed teams or employees working remotely.
E-learning often proves to be more cost-effective compared to traditional in-person training methods. Businesses can save on travel expenses, venue rentals, printed materials, and instructor fees. Additionally, e-learning allows for the reuse and scalability of training materials, reducing overall costs.
Scalability and Consistency
E-learning enables businesses to deliver consistent training experiences to a large number of employees across different locations. Training modules can be easily replicated and accessed by multiple learners simultaneously, ensuring that everyone receives the same quality of education.
Rapid Skill Development
E-learning platforms offer a variety of courses and modules that cater to specific skill development needs. Businesses can provide targeted training to enhance employees' skills quickly, allowing them to adapt to changing job requirements and industry trends.
Tracking and Analytics
Many e-learning platforms provide robust tracking and analytics features. This allows businesses to monitor employee progress, assess the effectiveness of training programs, and gather data for performance evaluation and improvement.
E-learning provides employees with on-demand access to learning materials, allowing them to acquire knowledge and skills as needed. This flexibility supports just-in-time learning, where employees can access specific resources or modules when faced with immediate challenges or tasks.
Compliance and Regulatory Training
E-learning platforms are often equipped to deliver compliance and regulatory training, ensuring that employees stay updated on legal and industry-specific requirements. These platforms can track and document training completion, providing organizations with the necessary records for audits or legal purposes.
Given these advantages, businesses across industries have increasingly embraced e-learning as a cost-effective, efficient, and flexible solution for employee training and development. The demand for e-learning in the business sector is expected to continue growing as organizations recognize its benefits in upskilling their workforce and driving overall performance and productivity.
Build Customized Online Courses for Businesses
Building customized online courses for businesses involves a systematic approach that addresses the specific needs and requirements of the organization. Here are some steps to consider when creating customized online courses:
Identify Learning Objectives: Start by understanding the business's goals and desired learning outcomes. Identify the key skills, knowledge, or competencies that employees need to acquire through the online course.
Conduct a Needs Analysis: Perform a thorough needs analysis to assess the current skill gaps and learning needs within the organization. This can be done through surveys, interviews, focus groups, or analyzing existing performance data.
Design the Course Structure: Determine the structure and format of the course. Consider the best instructional methods, such as videos, interactive modules, quizzes, case studies, or simulations, to deliver the content effectively.
Develop Content: Create engaging and relevant content that aligns with the learning objectives. Use a variety of multimedia elements like videos, graphics, and interactive activities to enhance learner engagement and understanding.
Customize Examples and Scenarios: Tailor the course content to the specific industry, context, and challenges faced by the organization. Incorporate real-world examples, case studies, and scenarios that resonate with employees and make the learning experience more relatable.
Incorporate Assessments: Design assessments and quizzes to measure learners' understanding and progress throughout the course. This could include knowledge checks, interactive exercises, or scenario-based assessments to ensure that learners are meeting the learning objectives.
Provide Interactive Elements: Include interactive elements such as discussion forums, group activities, or collaborative projects to foster learner engagement and promote peer-to-peer learning.
Ensure Accessibility: Make the online course accessible to a diverse audience by incorporating features like closed captioning, transcripts, and compatibility with assistive technologies.
Create a User-Friendly Interface: Design an intuitive and user-friendly interface for the online course platform. Ensure that navigation is easy, content is organized logically, and learners can track their progress.
Pilot Test and Evaluate: Before launching the course organization-wide, conduct pilot tests with a small group of employees to gather feedback and make necessary improvements. Continuously evaluate the effectiveness of the course through feedback, assessments, and analytics.
Update and Maintain: Regularly update the course content to reflect changes in industry trends, regulations, or best practices. Provide ongoing support and maintenance to address any technical issues or updates required.
When building customized online courses for businesses, collaboration with subject matter experts, instructional designers, and e-learning professionals can significantly enhance the quality and effectiveness of the course.
Source Ready-Made Courses to Resell to Businesses
If you're looking to source ready-made courses to resell to businesses, there are several approaches you can take. Here are some steps to consider:
Identify Your Niche: Determine the target market or industry you want to focus on. This could be areas such as leadership development, sales training, digital marketing, or any other specific field where businesses may have a demand for training.
Research Course Providers: Look for reputable course providers that offer reseller or white-label programs. Some online learning platforms and content providers allow you to purchase licenses for their courses and resell them under your brand. Research and evaluate these providers based on the quality and relevance of their courses, pricing, licensing terms, and customer support.
Assess Course Quality: Request sample access or demos of the courses you are considering. Evaluate the quality of the content, instructional design, production value, and learner engagement. Ensure that the courses meet the standards and expectations of the businesses you plan to target.
Check Licensing and Reseller Agreements: Review the licensing agreements or reseller contracts offered by the course providers. Pay attention to the terms and conditions, including the rights to rebrand the courses, pricing structure, renewal policies, and any restrictions on distribution or customization.
Customize and Brand: If permitted by the course provider, customize the courses to align with your branding and specific business needs. This could involve adding your logo, modifying certain content sections, or integrating the courses into your learning management system (LMS) if applicable.
Develop Pricing and Packaging: Determine the pricing structure for the courses you intend to resell. Consider factors such as the cost of acquiring the courses, the value they provide, and the competitiveness of the market. Package the courses in a way that makes sense for businesses, such as bundling them into themed learning programs or offering subscription-based access.
Market and Sell: Develop a marketing strategy to promote your resold courses to businesses. Utilize digital marketing channels, industry networks, and direct outreach to reach potential customers. Highlight the benefits and features of the courses, emphasizing how they can address specific business needs and drive employee development.
Provide Support and Customer Service: Ensure that you have appropriate customer support in place to address inquiries, technical issues, and provide assistance to your clients. This can include handling user access, troubleshooting, and responding to questions or feedback.
Continuously Update and Expand: Regularly assess the performance and relevance of the courses you offer. Stay updated on industry trends and emerging topics to identify opportunities for expanding your course catalog. Seek feedback from clients and adapt your offerings accordingly.
Remember to consult with legal and business professionals when establishing reseller agreements and to ensure compliance with any licensing requirements or intellectual property rights associated with the courses you choose to resell.
About LMS Portals
At LMS Portals, we provide our clients and partners with a SaaS-based, multi-tenant learning management system that allows you to launch a dedicated training environment (a portal) for each of your unique audiences.
The system includes built-in, SCORM-compliant course authoring software that enables most anyone to build engaging courses quickly and easily.
We also offer a complete library of ready-made courses, covering most every aspect of corporate training and employee development.
If you choose to, you can create Learning Paths to deliver courses in a logical progression and add structure to your training program. The system also supports Virtual Instructor-Led Training (VILT) and provides tools for social learning.
Together, these features and make the LMS Portals platform and the ideal solution for our partners looking to build or resell online courses and training services to businesses.