Today’s world perceives learning through the online medium, agree? Thus birthing a substantial market for the edutech and its many channels for e-learning respectively.
Its point of success paves for new educational channels to pop up and monetize on the present world’s dire need to, “know it all”.
Our discussion, too will be in line with educating (yeah pun intended) the reader on how they shall launch an online course platform and monetize effectively in the e-learning sector.
What Is An E-learning Platform?
Imagine getting tutored, schooled, or educated, in general, virtually and what would that entail. It will take place with a platform created for a single dedicatory purpose of learning electronically (e-learning) facilitated by the internet and generally accessible all throughout the world.
These platforms verifying the aforementioned descript are quite the popular take over their conventional counterparts for extension of multiple benefits. Notably, these are multi-locality accessibility, limited logistical needs, and consequent reduction in the costing.
But above all, this unchallenging medium of learning lets its users take up these educational sessions online at their own pace and with the possibility of rewinding the material to resolve any gaps in learning.
All of these has lead to a point of fame & popularity at present for e-learning platforms.
What To Consider When Building An Online Course Channel With A Video Platform?
Since the central theme of our discussion is one with Edutech, it is only right to list down all that needs to be checked off whilst building up your own, original Online course platform.
1) Effective Learning Experience For Course Takers
The motto of your building an educational channel is to offer quality education even if virtually. And to satisfy this need of your platform’s mission it is important to ensure a sufficient level of overall interactivity for the learners aboard the platform.
This is further actualized through extensive technological featurization of the platform. Features exemplifying such an advanced notion can be noted as Quizzes, Assignments, Certificates and Student Discussions.
2) Fundamental Featurization In The Perspective of Marketing
There is a dire need for any business in the new age, but most especially the business in talk to seek a personalized set of tools for promoting their business amidst spaces concentrated by their target audience.
The inevitability of its nature points to the fructifying factor of success in the prospect conversion, business turnover and brand impact it eventually brings. And all of these are worth enough the marketing efforts made in any business.
Not to mention the core of your platform must be easily integrable with the set of marketing features it is in touch with to seamlessly enable the marketing operations of the platform.
3) Easily Navigable Platform To Build Courses
As imaginable the high-end technologization of the platform musn’t also render its user inert from the difficulty in navigation the said high-end platform. Despite the advancement in the tech of the platform which, of course, cannot be compromised, there must be a seamless connection between the user and the platform.
And as to how you might be able to state for sure the easiness of the platform, well there are three questions you could ask yourself: How easy is the platform to use? Does the platform require a long demo? Do I require any coding or design skills to promote the business?
Questioning along these lines can positively help you determine the platform-user connectivity measure. This criterion only exists because it is the whole point of launching your own platform- for utmost autonomy with convenience.
4) Suitability For External Integration
The platform must be readily integrable with the third party tools for purposes of marketing, communications and others. This especially helps in the case you are used to the ways of certain external tools in your kitty such as the commonly noticeable Slack, Zoom, Mail Chimp and so on.
The reason you would dare to launch your own elearning video channel is so that you may run your enterprise at the comfort of your own space meaning its entire control lies with you. That is another reason to ensure that the third-party integrations with your favored tools are effortlessly possible.
4) Affordability of Price In The Long Run
The master of all the other factors listed herein must be the affordability of the platform since everything lies in the practical aspect of finance. As a creator who might also be in a beginner’s phase of things, there can be no enterprise without the budget meeting the pricing of the platform.
But, ideally you may not be fixated on the pricing only. There is another important component up for consideration. There still ought to be provision of all the fundamental features and tools that supposes as the essential arsenal at the creator’s disposal.
6) Communications System & Connected Community
As an enterprise engaging the larger public it is essential that the platform comes with the backing of a round-the-clock communications system. Communication could be upheld by email or real-time chat. Tech platforms are known to be dynamic hence at times unpredictable but the resolution must be the presence of a highly responsive helpline on behalf of the platform.
Besides the necessity of a communications system as part of offerings of an educational platform provider, there is also one of a need in the community department. Yes, in order for creators to best collaborate and work or even check in with their like-minded peers from time to time, it is incumbent upon the platform to again have enough features to let creators exchange courtesies on the platform.
How to Launch An E-learning Channel In 3 Steps & Start Monetization?
The next order of discussion should sensibly be about the know-how of actually launching the channel and getting it up to monetization, all in just three steps.
1) Construction of The Channel
Foremost concern along your way to construct an elearning channel would be to lock down a platform that will let you build the said channel. There are many a platform out there that are effectively backing up creators, tech-wise.
Nevertheless the stakeholder shall be the one to pick the right option based on their subjective ideality. But there could be some advice sourced on how to land the platform right by the creator such as
- Check for the platform’s capacity to accommodate all the necessary functions.
- Check if the platform will let you modify contents according to the changes in needs.
- Check if the platform makes possible a channel that is compatible with almost every device.
- Check if the platform comes with ease enough for your navigation.
- Check for the platform’s level of security to extend as far as keeping safe the end consumer’s personal data.
- See if the platform would support you with an additional array of features corresponding to elearning.
- Check for the platform’s scalability to be sure of a “Growth Support” in the future.
- Look for what the platform could do in terms of enhanced outlook for its end users.
- Make sure the platform provider is in a tie up with an all-time customer support.
2) Update The Channel With Courses
Now would be the connecting step between the scratch-start and the receival of returns. The process of filling up the video channel with the elearning material that is inclusive of course videos, workbooks, quizzes and so on.
An essential step if you will, since the focus of our talk, ‘an online educational platform’ can only be substantiated by the offerings in promise.
Besides an impressive outlook for your e-learning website, keep a tab on the following featural checklist:
- A profile for instructor(s) and students
- Password Authentication
- A dashboard to provide for users a consolidated window
- A well-protected payment channel
- A setting for notifications, reminders and messages
- A home page for every course encompassing relevant, helpful details
Coming down to the essential characteristics specific to each course up on the menu, ensure that your course is accommodating all of the following,
- Make the course accessible for all by letting them engage the course with any of their sensorial inputs (visual, audio, caption..)
- Make the course visually enhanced for utmost grasp of concepts it delivers.
- Make the course one of authenticity by elimination of any ostentatious matter.
- Keep the course easily digestible by making it the shortest version it can be.
- Make the course completely comprehensible by employing only simplistic elements.
- Make the course get into a flow with its preceding and succeeding courses.
- Make your courses available throughout the world with translation support.
3) Get The e-learning Monetization Started
Time for your channel to hit its monetary targets. We are down to the final step of the process that will lead you on to definite monetization. But before you must also prime your channel for maximal monetization for which you could possibly follow measures such as:
- One-time Payment To View Your Course– seek a single payment for all time access to your course. This would fall under the Pay Per View way of video monetization. The hold you have over any profit would be quite the significant amount settled in purchase of content.
- Subscription Package To View Your Course– let the consumers of your content make a subscription to your collection of contents on a periodic basis. The weightage of this method of monetization lies in the recurring income plus a major part of the common base of audience, in general, resort to subscription-based video monetization.
- Advertise In Between Your Courses– let customers join you without a purchase fee rather let the advertisers showcase their ads on your website. This is the way of advertising-based video monetization. The ad can be chosen to be placed at multiple locations leveraging some or all of these locations to the benefit of the creator.
In order for customers to come to the forum on their own you must key in on Social Media Optimization, Nurturing Website Visitors and Lend Freebies To Prospects.
Strategizing To Monetize E-learning
The ultimate goal of the touted channel under discussion is to pull in money worth the whole deal of the business. That is why besides just sticking to the mainstream means of monetization that goes on in the channel, there ought to be work towards generating revenue in other possible ways.
- Explicit statement of value for the buyer. Yes, explicitly stating out the value in gain for the prospects of the channel shall let them become closer to the brand of your channel and maybe even, the most welcome customer in the case that their needs and your offerings match exactly.
- Bundling up the courses as per a collective theme that classifies as a genre or variety by itself can help your courses sell faster as well as intimate the performance of lowest sales which can be helped with once pinpointed.
- Landing a sponsor who could endorse your courses in return for an endorsement of their commercial brand can pose as a win-win opportunity for you. Propose having their trademark on your media as well as offer to let their associates in on your courses for free whilst still charging content consumers outside.
- Adding specialized services to your range of services can find new and loyal customers for your enterprise. When you go the extra mile to connect with the course-taker post completion of the session or invite them over to a physical appointment at an additional cost, of course, there is sophistication seen in your brand.
I believe that we have seen sufficient information to support your argument of launching an e-learning channel and initiating monetization of the same. You now need to remember what an e-learning channel specifically entails to focus on those areas of offering. Then you must lock down the ideal platform provider to set up your e-learning channel with.
This is where you must also remember to keep in mind a lot of factors that are an exhibition of ideality yet there cannot be one right answer. And the final decision must lie with you for reasons of ensuring familiarity with your needs.