Planning to Launch an Online Tutoring Platform? Advanced features and Business model to be implemented
The role of learning throughout the history of humans has great significance; for every advancement, milestones we have achieved so far, we owe to education. However, the inception of digital has transformed the way we approach learning; more flexibility, convenience, and transparency are considered the spotlight of the same. But, in regards to businesses, the potential benefits of digitization on of education has a completely different rendition. When a digital learning platform helps enterprises provide streamlined learning opportunities, it also facilitates their strategies and efforts to enhance and even scale the business. This article focuses on delivering profound insights on building an efficient digital learning platform; including the essential features and business models to be considered.
E-learning Business Model and Revenue Streams
When it comes to any digital businesses, business models and income-generating sources have great significance. It defines the way you want to run your business; in fact, it implies the general behavior of your e-learning platform.
However, the most effective and standardized businesses model is a subscription-based model; it gives more stability to your business and is ideal for someone who has an incredible growth attitude; for it facilitates scalability/business expansion. And guess what! Learners don’t have to pay for the course every time. Moreover, this specific model is well-familiar for boosting customer retention and also, improving cash flow management.
Revenue Sources: How do E-learning Platforms Make Money?
Fundamentally there two various sources to generate revenue out of your e-learning platform. The initial method is to allow the tutors to fix the price. Further set up a commission from the revenue generated.
Yet another option is the subscriptions. Students must be asked to choose from a range of subscription packages you provide. Soon as the admission is confirmed, allow them to access classes on your website & divide the earned money between you and tutors. The tutor’s remuneration should be decided based on the number of students attended the class. In this way, you can develop a stable, efficient revenue channel.
However, you can make use of a few other possible options such as.
- Incorporating banner ads into your platform
- On-site promotions
Vital Aspects of An Online Learning Platform
Since web/mobile platforms imply the most significant part of any digital businesses, e-learning is not an exception as well. An efficient online learning software needs to have certain features and functions integrated.
Relevant Learning Tools
Learning tools signify a broad term that involves everything that caters the learning needs of a learner. And it is inevitable that you offer your learners a diverse set of tools and possibilities, those help them meets their learning goals. Video lessons, podcasts, face-to-face training, onsite training etc are few learning possibilities you can incorporate to facilitate our learners uniques needs.
Data Analysis and Reports
Gathering and analyzing user’s data is a crucial part of any business; this enables you to comprehend the specific needs and expectations of your users. In regards to e-learning businesses, integrating analytics features helps you understand the learning behaviors of your users and thus allow you to improve your services accordingly. Also, it is recommended to prefer a Learning Management System that features customizable reporting features; it enables you to monitor each and every aspect of your e-learning strategies.
The conversions, click-through rate etc everything is directly related to how your user feels when he/she connect with your platform. In fact, the more simple your navigation/interface is, the more likely they want to engage with your business. Provide advanced filters, simple navigation system and a smart search mechanism to aid your favorite users to complete their desired operations. Above all, ensure mobile responsiveness to incorporate the broad spectrum of mobile users.
Including e-commerce support into your LMS platform open up possibilities for marketing the courses band lessons you’ve created. Moreover, incorporate secure payment gateways, implement an easy checkout scenario and more to make it simple for the users to take benefit of these options.
The introduction of gamification into learning scenarios can elevate the overall experience and engagement. Unlike other conventional learning practices, digital learning allows learners to plan and engage in learning whenever they want. Also, with the introduction of gamification in the form of friendly competition or such, you can boost up their engagement level and compliance as well.
Everyone wants to be accredited, isn’t that true? Indeed, we all love beings recognized for our achievements. In the case of e-learning, certifications are the token of recognition; hence, integrate certification courses that magnify the motivation and engagement too. Offer valuable certifications and make learning worth spending for.
In search of an All-inclusive E-learning Solution?
When it comes to e-learning website development, you may have an abundance of choices to consider. But, however, developing an online learning platform from scratch is not an easy process as it is projected by many. It takes a great amount of time, effort and experience to deploy an efficient learning portal within a given time frame. Agriya’s ready-to-deploy custom e-learning software is the quickest, reliable, moreover, the most affordable way to set up an online learning platform. This ready-made e-learning script involves a multitude of built-in features and functions; and also, since it is easily customizable, enterprises can modify it with regards to their needs.
Explore our website to know more about the E-learning solution.