Every industry either has or is in the process of digitizing itself, and there is no reason education should not either. There are many reasons why offering eLearning is a great move for your training institute, but here we are going to focus on all the different ways implementing a Learning Management System (LMS) can boost your ROI.
1. Lower Running Costs
One huge benefit to any training company is how much cheaper eLearning courses will be to run compared to a classroom-based session. Let us look at just some of the ways you can save money with an LMS:
- As there is no instructor required for eLearning courses, you will not need to take into account any instructor salary
- You will not need to have a physical venue for the classes as they are all held online, which will save you money on external venue hiring costs
- eLearning means you no longer need to spend money on physical materials
- You will not need to book any additional services such as catering or transport
2. Unique Offering To Attract More Customers
Having an LMS and eLearning courses to sell with that LMS means you are providing your learners with a great deal of freedom in how they choose to learn. This can be the extra push any potential customer needs to purchase their training from you.
- Some students are unable to attend full-time courses, or they will not be able to travel to your training center to physically sit the training with you. eLearning gives them the opportunity to do their training regardless of their other commitments or locality to your training center.
- There are some students who just prefer eLearning because it suits their learning style better as it allows them to work at their own pace, and allows them to go back over material they are perhaps struggling with before sitting their assessments.
- The digital medium is the future for every industry and having a head start over your competition means a larger customer pool and thus greater profit.
3. Save Staff Time
As well as saving a lot of money, eLearning can also save your business a lot of time.
- No need for teachers to prep for many classes as everything is managed online.
- Having more students doesn’t mean more work, as you can communicate in an instant to the students enrolled in your LMS no matter how many students are currently signed up!
- Any updates which need to be made to documents or course content can be done in seconds and will be automatically updated for all users.
- An LMS frees up time spent on administration as all class details are managed through the LMS once a student has enrolled.
4. Use It For Internal Training
An LMS can not only be used for external training but can be used for staff training as well. Depending on the type of training your staff complete when they are working with you, an LMS could be a perfect way to administer the training.
- eLearning means your staff can work through their training at their own pace and whenever they have free time.
- It simplifies on-boarding as you can have all the training that new staff members need to complete, pre-loaded into your LMS.
After that, all you need to do is set your staff up with a login and let them get to work. This takes out the stress of booking multiple training sessions for new members of staff in a short time period to make sure they are brought up to speed quickly, as they can get started on their eLearning courses straight away.
5. Service Unlimited Amount Of Students
One of the best things about eLearning is that you can service as many students as you want without any restrictions.With classroom-based sessions, you are constrained by things like the number of instructors you have, free time of instructors, training rooms availability, the size of your training rooms, the amount of money you have to spend on new courses, the number of hours in the day, etc.Elearning with an LMS allows you to expand indefinitely and across different regions as well. Thus giving your institute incredible reach and increased profit.