Technology has played a major role in changing the way of living. So has been the case with education. In recent years, elearning is preferred over the traditional way of learning.
According to gmisights, the E-Learning Market size surpassed USD 315 billion in 2021 and is projected to observe a 20% CAGR from 2022 to 2028.
Why Elearning is Being Preferred:
- Elearning is Cost Effective and helps to bring good outcomes.
- It helps to Save Time and Money.
- Elearning helps to Support individual styles of learning.
- In Elearning, the way of learning is quite consistent.
- Elearning promotes collaboration and is easily adaptable.
Popular Types of Elearning
- Synchronous learning
- Asynchronous learning
(i) Synchronous learning
In this form of learning, the students and teachers are interacting with each other at the same time. Online interaction is possible through video call platforms like Skype, Zoom etc.
Here is a list of video interaction platforms:
- Zoom.
- Google Hangouts.
- Dialpad Meetings.
- TrueConf Online.
- Skype.
- FreeConference.
- Lifesize Go.
(ii) Asynchronous learning
In this form of learning, students learn at their own pace by accessing learning materials in the form of notes or pre-recorded videos. A group of students can access the study material at the same and interact but does not have any interaction with the teacher.
Key To Things To Consider Before Launching an elearning Platform
Market Research
Before launching an eLearning platform an entrepreneur must do some market research to understand the current trends. Entrepreneurs can make investment decisions wisely if they are aware of market trends.
Business Model and Niche
Once the market research is done a selection of the right business model and niche is also important. Entrepreneurs must ensure by which revenue sources they are looking to earn. They must also be confident about the niche of their platform. E.g subject learning, language learning or academic courses etc.
Do Competitor Research
When you have finalized the business model and target region for your business. The next step is to research what your competitors are doing for marketing and from which sources they are earning revenue. It will help you as an entrepreneur to plan better and stay ahead of your competitors.
Building Your eLearning Platform
Another key step is how you build your elearning platform. As user experience and rich features are key to the success of any online tutoring marketplace so building an elearning platform from efficient technology and team is highly important.
Ways to Build an Elearning Platform
(i) Hire a Reputed Development Team
You can hire a reputed development team and build your elearning platform from scratch. Building a platform from scratch can help you get all the features incorporated into your platform as per your needs. Although building it from scratch takes a lot of time and high investment.
(ii) Build Using a Turnkey Software
Another option is to build your platform using turnkey software. This software makes your platform ready to launch within weeks. The investment in this software is also not much.
One such recommended elearning software to build your platform is Yo!Coach. It is 100% white-label software and fully customizable as per your requirements. Using this software you can not only launch your elearning platform in quick time and can customize features as per your requirements.
Yo!Coach allows you to launch both synchronous and asynchronous platforms which makes it an ideal solution to build your elearning platform.
The software is pre-integrated with video conferencing APIs like Zoom, Lessonspace and AtomChat for collaborative sessions in a synchronous mode of learning. Yo!Coach is also integrated with payment gateways such as Paypal, Authorize.net & stripe for secure payment processing.
Market Your Elearning Business
The success of any elearning platform depends upon how you are marketing your elearning platform. It’s key to invest in your marketing to reach your targeted audience. Here are some of the ways to market your elearning platform.
(i) Hire an SEO expert to rank the platform organically on keywords
(ii) Invest of Pay per click
(iii) Reach out to Industry Influencers to promote your business.
(iv) Offer Discount to Avail Customers
( v) Get the platform mentioned in relevant industry magazines.
Conclusion
The elearning industry has lots of opportunities for entrepreneurs to build their business empires. They just need to consider and implement the points mentioned above in the post.
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