Ways to monetize an elearning course
E-Learning is a growing trend that’s taking the world by storm. It’s not only convenient for learners needing flexible options, but it’s also fantastically profitable for the brands and entrepreneurs that teach eLearning. If you’re looking to earn extra cash, eLearning could be your next big move.
Is E-Learning Profitable?
Yes! Have you ever heard of the phrase “mailbox money”? It’s the idea of having income passively deposited into your account every month. This passive income is generated usually from upfront work, which allows you to reap the benefits for years to come.
Passive income is a popular idea in the world of investing, but it also applies to the eLearning world. If you create a course that’s relevant, helpful, and engaging, there’s a good chance that you can make a living from selling your course.
However, it’s tough knowing just how to create a course that sells itself with little work on your end. It’s important for eLearning creators to continually innovate the learning experience, keeping users flocking to your courses.
4 Tips to Consider When Monetizing and Selling E-Learning Courses
Instead of chasing down new students, create a course that’s so amazing, it sells itself. Use these four favorite tips from the Ninjas to create courses that fly off the shelves.
Use multimedia to engage the learners.
Who wants to read a bunch of boring text? If your learners wanted to read for hours, they would have bought a book. They signed up for your eLearning course because they want to absorb information in a way that’s easy, accessible, and simple.
Make your learners active participants in their education with smart multimedia tools. Integrate videos, images, and audio into your course design. Of course, your multimedia additions need to be relevant to the course material! If you have a course about construction work, including a video of your cat might not work.
Tap into their emotions.
The upside of multimedia courses is that they let you connect with learners. You aren’t just a face behind a keyboard: with eLearning, you can tap into user emotions to help them form a stronger bond with your course material.
Include images that spark an emotional response. Include 3D graphics that are interactive and realistic. Find human interest pieces, like news and events, to integrate into the course content. Of course, don’t go for shock value or to make your users sob–keep it on task and interesting, not a soap opera.
Nobody wants to be wishy washy. But that’s the risk you run if you don’t use a style guide and template for your courses. Consistency and cohesiveness are the two most important elements of design for your course. Without it, you’ll lose customer trust and avoid looking like an amateur.
Boost your reputation and image by keeping it consistent. Are you using the same fonts throughout the course, or do they change every screen? Do you use a set color scheme that makes your course look beautiful and well-organized? A style guide gives you the ability to design a course that ticks all of these important boxes. The design ensures the course is both aesthetically pleasing and easy to use.
The course template also needs to be consistent. Try to keep it as simple as possible. Avoid busy backgrounds or text-heavy slides that will only distract the user. Make sure all buttons are on the same place on each page. Align all of your text in the same spot. These things seems small, but they make a big difference for your user’s experience.
Make the course easy to navigate
The eLearning experience needs to be as simple as possible. After all, you want learners focused on the content of the course, not wondering how they should use the course itself. A simple course navigation eliminates barriers to understanding, helping users learn more quickly.
It’s not enough to have a course that’s visually stunning. If it doesn’t help your learners advance through the modules with ease, they won’t come back. Keep the navigation streamlined, with no extraneous links or buttons. Ensure each screen directs users to the next step, without unnecessary or distracting screen elements.
The 7 Most Effective Tools to Monetize Your E-Learning Course
How can you ensure you’re profitable doing eLearning? It’s a competitive industry, but there are several ways you can monetize your course with ease. Check out these seven most effective tools for profitable eLearning.
Thanks to the digital age, everyone has the opportunity to learn. Many eLearning courses are offered free of charge, and learners eagerly gobble it up. But hey, there’s no such thing as a free lunch.
To offer amazing content without strings attached while earning some funds back, use a donation button. A donation button is a warm, friendly way to suggest users help out with the cost of the course. They feel like they’re helping you out, and you make back your investment–and then some.
The downside of donation models is that users can stiff you. It’s tough to enforce the honor system on the internet. If you want something more stable, use a subscription model.
With subscriptions, users access your content with a fee. Depending on how you want to distribute your content, users are charged an annual or monthly fee. This gives you guaranteed income as a course creator, which keeps your eLearning program profitable for the long term.
Creating an eLearning course involves a lot of time, effort, and risk. Let’s face it. There is no guarantee that learners will purchase your course, no matter how great it is. One way to mitigate the risk involved in creating your course is to obtain one or more sponsors as part of your eLearning course monetization strategy.
Sponsorships are not just for physical, in-person events. You can also leverage sponsorships for digital events and in creating your eLearning courses. A sponsor can partner with you and provide the financing and/or other materials needed to produce a course that not only aligns with your goals, but also their goals.
In exchange for providing you with financing or other services, sponsors may require you to advertise or promote their services in your courses or through your other platforms.
A disadvantage of a sponsorship is that you may have to give up some control over the content you cover in your course. In addition, the level of resources the sponsor provides may equate to the level of input they expect to have in your courses. Nevertheless, clearly specify in the sponsorship agreement, what is expected of each party as a result of the sponsorship.
Pay Per Course
Sometimes it doesn’t make sense to offer your course as a subscription. If you don’t regularly publish new courses, a pay per course model would be better for you. Under the pay per course model, users simply pay a flat fee for the courses they want to buy. A great example of the pay per course model in action is the Iversity
If you use this model, it’s a good idea to offer both free and paid eLearning courses to draw attention. The free version of your course brings in new learners, and offering a more advanced paid option gives them access to premium content.
For long-term profitability of your course, it is important to consider how you can add value to the initial product that the customer purchases. Offering additional content is another way to easily profit from your eLearning course.
This can be done by offering additional courses or add-on services for a reduced price, the ability for learners to attend additional events, such as webinars, or an offer in which courses and/or services are bundled. In addition, offering premium services such as personalized consultations or coaching sessions will add value and increase overall course profitability.
Have you heard the saying, “You’ve gotta spend money to make money”? That rings true for eLearning. Online advertising is your ally for monetizing an eLearning website. If you aren’t a fan of ads, that’s okay! You can integrate helpful educational content, like course videos and eBooks, into your ad spots. This way, you get more eyeballs on your content while providing value to your audience, instead of feeling like you’re spamming them.
Not sure how to advertise your course? The most affordable way is to write blog articles on topics from your course, general study tips, updates about eLearning, and general FAQs.
Affiliate Marketing Programs
The final way you can earn with your eLearning site is by joining affiliate marketing programs. Affiliate marketing is the practice of posting relevant sponsored links on your site; when your site visitor clicks through that link and makes a purchase, you get a percentage of that purchase.
Affiliate marketing is a wonderful way to give your learners access to relevant tools while boosting your bottom line. Just make sure the affiliate relationship makes sense, and that it’s something that will be relevant to your audience. Otherwise it will look like spam!
The bottom line
Passive income is entirely possible for eLearning course creators. The big challenge is to create an eLearning experience that’s memorable and enjoyable. You want your users spreading the good word and bringing in new business without you spending a dime.
If you’re unsure about your course experience, bring in some beta testers. Give users access to the course for free, in exchange for their honest feedback. However you do it, create a stunning course that both informs and delights your learners. You’ll see that mailbox money in no time.