Ways A Learning Management System Boosts ROI
If you’re thinking of making the move to eLearning or, at least, introducing some eLearning courses into your learning offering, we’re here to tell you it’s the right decision! There are lots of reasons why offering eLearning is a great move for your training business, but we’re going to focus on all the different ways implementing a Learning Management System (LMS) can boost your ROI!
1. Lower Class 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’s take a look at just some of the ways you can save money with an LMS:
- As there is no instructor required for eLearning courses, you won’t need to take into account any instructor salary.
- You won’t 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. If you house the training yourself, then you can use these rooms to host other classroom-based sessions, which in turn means more revenue!
- No physical classes also mean no physical materials, such as textbooks or printouts.
- You won’t need to book any additional services such as catering or transport.
2. Unique Offering To Attract More Customers
Purchasing an LMS for your business and running eLearning courses means you’re adding another arm to your teaching offering for your students. This might just be the extra push any potential customers need to actually purchase their training from you.
Perhaps, some students are unable to attend full-time courses, or they won’t be able to travel to your training center to physically sit the training with you. eLearning gives them the opportunity to do their training with you regardless of their other commitments or locality to your training center.
Of course, 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, whenever they want to and allows them to go back over material they are perhaps struggling with before sitting their assessments.
If you offer eLearning and some of your main competitors are yet to catch up, you could land yourself lots of extra customers!
3. Save Staff Time
As well as saving lots of money, eLearning can also save your business lots of time!
- No need for teachers to prep for lots of classes, as everything is managed online.
- Having more students doesn’t mean more work, as you can send communications 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. This means you don’t need to contact everyone to alert them to the updates, or even print off loads of documents again!
- Less work for your Training Administration team as all the sign-up and class details are handled through the LMS once a student has booked a place on your course.
4. Use It For Internal Training
If you install an LMS within your training company, you don’t just have to use it for external training—you can use it for staff training as well!
Depending on the sort 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, whenever they have some free time. This is much easier to organize than trying to book a classroom-based training session where you need a location, an instructor, and a time when a large group of your staff is free.
It also makes on-boarding a breeze as you can have all the training new staff members need to complete pre-loaded into your LMS, then all you need to do is set your staff up with a login and let them get to work! Again, 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!
All the reasons we’ve listed above for saving time and money will also apply to internal training as well, so that’s double the saving!
5. Service Unlimited Amount Of Students
One of the best things about eLearning is you can literally service as many students as you want without any restrictions!
With classroom-based sessions, you are limited by things like the number of instructors you have, when your instructors have free time, whether you have free training rooms, 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.
When it comes to eLearning none of those restrictions are in place, and you can service as many students as sign up for your training courses! This means you have the potential to increase your student base massively, which means a lot more revenue and profit are possible than if you only run classroom-based sessions.
