Just because your budget is tight does not mean that you cannot create great e-learning content. You might even end up creating something that is truly special. However, the steps required to work with a small budget might not always be apparent and it is hard to know where to make trade-offs.
Let us walk through some of the things that you can do to utilize your available budget efficiently.
1. Make sure your scope fits your budget
One of the fastest ways to waste your entire budget is by trying to create content that is too large. Narrowing the scope of your course or module is a good idea. Instead of trying to create an all-encompassing course, create a smaller focused course that teaches one specific sub-topic.
This will help learners to find the materials that they need quickly. It will also help you mitigate the effort required should revisions need to be made on a specific course or module.
2. Reuse existing resources
If you have resources from previous projects available, then do not be afraid to use reuse them. Reusing old resources such as images, text blocks, music, etc can save a lot of money.
Having all your resources stored in a central repository can be of great use in the long-term. This is a good reason to consider using a Learning Management Software (LMS) to store your data so that you can easily integrate them into all your future projects and thus save money.
3. Spend on research and analytics
Regardless of the size of your budget, investing in research and analytics will yield a good return on investment. Simply put, it does not matter how good the course is if your learners never needed it. A lot of time, effort and money can be saved by using your budget to conduct surveys to find out exactly what your target audience needs.
With this information, you can create a course that closely caters to the needs and requirements of your learners. An LMS is a good option in this case as it can provide valuable analytics to monitor learner performance through a course.
4. Find the right tools
You do not need an extremely expensive e-learning tool with many fancy features to make a successful course. Although these features are useful, they might not be necessary on your small budget. Instead, look for a tool that fits your use-case.
Many tools are available that are worth investing in. Look for tools that provide e-learning templates and access to an existing media library. These will help you build your course with greater ease and efficiency.
Investing in an LMS can be a good long-term solution. There are many LMS available such as Ofabee that allow you to try out a free demo so that you can see if it is the right LMS for you.
There are many trade-offs that you can make that will save you money. The biggest thing that you need to remember is that you should not hesitate to make them. A massive course or use of expensive tools does not guarantee a good course.