The way we learn new things has changed over the years. Earlier, it was confined to classrooms, and as time progressed, we could see more ways using which students across the world could learn.
One such learning methodology that picked pace over time was eLearning. Based on a report by MarketsAndMarkets, the eLearning market is estimated to touch $46.7 billion by 2026, compared to $11.5 billion in 2021.
The Internet has played a huge role in making education accessible to all. And that gave rise to eLearning, which has catapulted over the years with the advancement of technology and innovations.
The availability of the internet, affordability to set up online learning systems, and multiple streams that can be used to scale eLearning Business have made it easy for Edu-Tech creators to create content and earn money online.
What Is An eLearning Business?
eLearning Business refers to providing educational content on topics related to your expertise and knowledge over the internet. This can include pre-recorded videos, online courses, digital downloads, live streaming of classes, and more. All these eLearning Courses mostly, come with a price tag attached to them, and students who wish to learn can pay and study virtually.
Going by the trends, eLearning is only set to grow in the coming times, as it offers convenience, flexibility, and accessibility to learning opportunities at an affordable price when compared to traditional in-classroom learning.
In this blog, you will learn about…
- How to start your eLearning Company
- Why this is the best time to start one
- Workable eLearning business models [with examples]
- Choosing a platform to monetize
- Answered most FAQs
Ready to learn and start your own eLearning business?
The Key To Start A Successful eLearning Business
Starting an eLearning Business can be a life-changing experience for both you and the students. Here are the key 7 steps to creating a successful eLearning Company that can also reap profit for your business:
- Finalize Target Audience
- Prepare Curriculum
- Brand Positioning
- The First Feedback
- Choose A Scalable eLearning Platform
- Marketing Your eLearning Business
- Measure The Metrics
The flexibility eLearning offers for students to learn at their own convenience has skyrocketed the eLearning business in the last few years. Not just students, but people from all sectors of life are choosing eLearning.
1) Finalize Target Audience
eLearning can be used to teach a varied range of skills and subjects. But in the end, it depends on what path and lessons you wish to offer for the students that will make you stand out from the competition, whilst many other eLearning brands.
Higher education, subject experts, soft skills, technology training, creative skills, and more are some of the most sought-after eLearning courses available on the internet, worldwide. But what is that one niche of your expertise? Research and finalize your potential students.
Keeping those aside, if you are a…
- Solopreneur: If you are a one-man show, you can start with probably teaching a couple of courses combined into one based on your subject matter expertise, and how well-versed you are in training students.
- Entrepreneur: If you have a team of other teachers, you can extend your offerings and teach a variety of subjects online. You can blend both self-paced and synchronous learning. This way, leaving the choice of study to the students that opt for your course.
Want to know how Brand Video Monetization can help you generate income with your expertise in eLearning Business? Check it out here!
2) Prepare Curriculum
Once you’ve finalized what subjects matter you are going to teach/take online, the next step is to create content – or in a teacher’s words – you are going to prepare a curriculum that would be uploaded online.
Make sure you put all your expertise into this so that students who buy your course and videos online feel valued for the money they’ve spent. As direct learning is diminished in this form, ensure the lessons are well-structured and explained in an easy-to-understand way.
Additionally apart from videos, you can add:
- Downloadable PDFs
- FAQs documents
- Conduct tests
- And more…
The content you create must be informative, interactive, and innovative. Do not make sitting and learning in front of a computer a boring affair. Define what you want the students to learn, and help them achieve their goals.
3) Brand Positioning
How are you going to differentiate your eLearning business from your competitors? What do you want to come to the minds of your potential customers when they hear about your business? How are you going to create credibility for your eLearning business?
All these and many more constitute the brand positioning of your business in the existing market. Here are some tips for brand positioning:
- Understand your target market
- Be consistent in your marketing efforts
- Use storytelling to drive your messaging
- Compare your positioning with competitors
- Be true to your heart, with your customers
Your business is what you do, and positioning is how you do it. Brand positioning can increase customer loyalty and bring more revenue. With recurring revenue, you can continuously make money with your eLearning channel, and here’s how.
4) The First Feedback
Like how a car is passed through multiple safety and driving experience checks before launching into the market. Like how a movie is screened to a particular people before its mainstream release. It is always advisable to seek “direct” feedback from your target audience before making it live.
Here are some ways you can get genuine feedback…
- Send your lesson plans to 2-3 students who you think would be interested in learning
- Email lessons to subject matter experts and ask if all that you included is up-to-date
- Offer early bird discounts to a selective group of first registrants who buy your eLearning program
Note: You could try any one or all of these. Your choice.
Welcome feedback, take notes, see if what others say can be modified to your existing content, and then upload your videos online. Because this way is always better than facing backlash once your courses are made available.
5) Choose A Scalable Online Course Platform
You have defined your target audience. You have successfully created your lesson plan with recorded videos. And you have a sure-shot winning strategy to position your brand.
So, what next?
Finding a platform where you can upload your videos and monetize them fixing your own pricing strategy.
No, I’m not talking about the popular mainstream video platform giants that ask you to wait until your video makes many views, and then pay you a meager amount.
There’s an emerging platform in the market that’s exclusively built for new-gen content creators. GUDSHO, we call it!
With GUDSHO, you can create your own channel, upload your videos, monetize them, and market your brand. All it takes is minutes. And that’s why it’s one of the best eLearning platforms for business.
And the biggest flex is, you don’t have to wait for 1000s of views to get paid. As you set your revenue model, you get paid every time your courses or training modules are bought online.
100s of Edu-tech video creators have transformed their talent into a thriving online business with GUDSHO. You can, too.
Also Read: Explore the benefits of having your own video channel to grow big.
6) Marketing Your eLearning Business
Letting people know that you have a value proposition product out there is a must-do to scale your business. The way your eLearning strategy and marketing are planned, are crucial ways to scale your business upwards.
Let’s take two scenarios…
- If you already have a considerable amount of followers on social media or elsewhere, chances are more that you don’t have to start from scratch again. Just focus on how you can capitalize on the followers you’ve built to convert them into customers.
- If you don’t have a large follower base, it is okay. Because I’m glad you are taking the eLearning Biz path with a huge talent base that’s within.
You can use social media ads, Google ads, collaborations with niche influencers, giveaway free courses, offer free trials, or connect with some educational institutions… These are some of the marketing ideas that you can use if you are just starting an eLearning business.
This process will be a little time-consuming to build credibility for your eLearning Company, but it’s worth the effort. Once you’ve cracked the code, there’s no looking back.
7) Measure The Metrics
Just like how many say that learning should not stop, so do the marketing efforts for any new business. Now that you’ve uploaded all the content online – for a while – place more emphasis on reaching out to the masses.
Measure both your marketing and metrics. Here’s how…
See how many people you are reaching online. See how many students have signed up. Check which locations more people are viewing. Check which courses of yours are becoming popular. Do more of such analysis to understand your business better. These results will help you prepare your next set of content with more finesse.
Doing so, you’ll be able to get an overview of your business model, and also offer an idea of where tweaking needs to be done.
The Rise Of eLearning Platforms
Compared to classroom-based learning, eLearning has a sleek edge over how students consume studies. And here are 3 popular reasons:
- Flexibility: Students can learn anywhere, anytime. All they need is a stable internet connection and a will to learn. This learning model is also time-saving and cost-cutting as eLearning is convenient (i.e.) the students decide the duration of the study.
- Learn From The Best: Many desire to study in top-rated universities from across the world, but don’t move forward due to various reasons. Financial stability is the one. But with eLearning – as top universities have launched online courses – it is easy for students to learn from world-class curriculum, and revered Ed-Tech creators like you.
- Career Benefits: It offers more time for students to focus on other aspects that will advance their careers, like soft skills, technology training, and so on. Unlike classroom learning which restricts students, eLearning offers a diverse approach with holistic development.
What Are The Business Models For eLearning?
With a clear vision, careful planning, and meticulous detailing blended with an innovative approach to marketing, you can leverage your eLearning Company from the day of its inception.
Here are some eLearning Business Models that can be implemented to churn out a successful online business.
(i) The “Take It Easy” Business Model
One course. One skill. One-time payment. Get what we are saying?
Rather than packaging multiple courses in a single offering, you give just one well-versed course from your niche. And interested students pay a one-time upfront to access that course.
You are good at LinkedIn Marketing and you offer a course that teaches aspirants how to make it big on LinkedIn. The course can detail how to start on LinkedIn, how to optimize your profile, what kind of content can be posted, its frequency, and so on.
The goal of this course should be to educate LinkedIn users on how they can use the platform to build a personal brand, strengthen their careers, or get the job they’re seeking. Or probably achieve the goal they are looking for.
Maybe at the end of the course, you can conduct a small test. And then offer a “Certificate of Completion” which they can add to their resume, share on social media, and tell their peers about your course.
(ii) The “Make It” Easy Business Model
Earlier, I spoke about how LinkedIn Marketing can be sold off as a one-off course. But if someone wants to learn digital marketing, is it possible to complete it in one lesson or session?
…as digital marketing is an ocean in itself with various strategies and software being introduced in this ever-changing world.
At such times, you can neatly pack multiple courses in a single bundle and offer them to your customers. This model is a long-term module.
In the digital marketing training module, you can add separate topics like:
- Search engine optimization
- Social media marketing
- Pay per click
- AdSense Training
- Using Canva for designs
- Influencer marketing
- Optimizing landing pages
- And more…
Because each of these is a course by itself, and it is not easy to complete it all in one sitting. In a nutshell, you make it easy for students to study your course at a time and pace they are comfortable with.
(iii) The “Stake It” All Business Model
This is where you combine both your Make It Easy, and Take It Easy Business Models into one. Students can either buy a one-off course from you. Or choose to study the complete course.
The buying decision rests with the end user.
If there is one thing that can give you additional income, it does not depend on the discounts you give or the packages that you offer. It all depends on how informative and valuable your lessons are that will take your business to greater heights. If your content is super-valuable, I’m sure students don’t mind paying some extra dollars, as the benefits they are going to reap are more.
Because paying to learn is not an expenditure, it is an investment for a better future, a better career, and a better life.
Standout Features Of eLearning Platforms
Having a robust video monetization platform can help you transform your knowledge into a profitable online course. Here are some features that GUDSHO offers to eLearning Business Owners to 5x their revenue:
- CMS: Set up your channel in minutes, bulk upload your videos with the drag & drop feature, create a buzz with a video scheduling option, design your channel the way you envision, and many more compelling benefits.
- Streaming: Whether it is mobile or computer, your video can be streamed superfast from anywhere in 4k resolution. Track your video insights. And embed video anywhere to increase traffic.
- Marketing: With search engine-friendly setup and social sharing integrations, marketing has never been so easy for creators like you. Go in-deep with our advanced analytics dashboard and track everything.
- Monetization: Your hard work. Your content. So why let somebody else decide how much you should earn? Set your own pricing model with GUDSHO. A reliable and transparent monetization model.
- Security: All your videos are AES encrypted. Above that, 99.99% uptime of your platform, secure transactions, SSL/TLS encrypted paywalls, and many more world-class security features are embedded.
- Analytics: Know earnings per video and track gross revenue. Check engagement rates, assess avg. watch time, analyze social shares, and dive deep into every detail with our analytics dashboard that has it all.
Here are all the GUDSHO features that made the life of creators and video monetization simplified like never before.
No better time than now to venture into the eLearning Business. With advancements in technology and remote learning opportunities at the forefront, more students are choosing eLearning to pursue their studies.
All in all, eLearning is here to stay. Factors like a cost-effective solution, offering an agile environment, and being easily accessible to all make it a happening choice for students worldwide to opt for this methodology.
A quick refresh of all that we’ve said…
- This is the best time to capitalize and monetize your knowledge.
- Defining your target audience and then plan your curriculum.
- Make the courses interesting and innovative. No dullness.
- It is easy to set up your own video platform… in minutes!
- Multiple business models for your perusal.
- Get expert advice on how to get started
- Take advantage of the market when it’s still ripe.
If you are an expert in any subject matter, take that step now and convert your expertise into an enterprise business. Teach what you like. Teach what you know. And earn doing what you love. Looks like a cool life, doesn’t it?
eLearning Business FAQs
Take some time to think about what you feel you are an expert at. And with the talent you possess, do you think people will pay to learn from you? Niche down on your expertise and you’ve found your answer. Coming to the business channel part, eLearning providers across the world have started their own channel with GUDSHO. You can do it too. Start here.
Every day would be an understatement. But the trends say it is on the rise, and only set to scale in the times to arrive. Yes, Business eLearning is evolving, and now is the perfect time to launch your biz.
I’ll keep this short: In-depth lessons. Subject matter expertise. Interesting curriculum. And value for students’ money. Pro Tip: Have a strong eLearning implementation strategy in place.
The flexibility and convenience it offers to students to study from anywhere, anytime. The decreased costs of learning. And providing learning opportunities to secure their future by learning from their favorites.
We’ve discussed this above. We’ll simplify it here as well: Use social media to its fullest. Utilize Google Ads and Social Media Ads. Collaborate with Edu-tech influencers. Offer a free trial for initial lessons… there you go!
Check out more ways to market your eLearning Business: Here