In this article we explore and demonstrate how you can commercialise your LMS and turn that idle time into profitability.
Many organisations under utilise their LMS and don’t realise that what they actually have at their fingertips is a profit making center.
The Learnbook LMS has built in ecommerce where, via PayPal or Stripe, organisations can have prices associated with courses, materials or any other services.
One of our customers, who owns a company that provides training in radiation hazard awareness has had outstanding success, and operates her business on a money while you sleep model, waking up every morning to see how many enrolments they’ve had overnight – those enrolments turn into payments.
So how does it work, and why would I want to commercialise my LMS?
- Most LMS’s are subscription based, be it annually or monthly. It’s great to have a way, at an absolute minimum, to offset those fees. If you don’t sell online learning courses for example, think of what you can do to make subscribers want to buy from you. It may be that your customers pay a monthly fee for unlimited access to recourses specific to your industry that aren’t available through regular web channels.
- It’s the worker that never sleeps. An LMS can be a serious profit centre. Additionally, it’s available 24×7, so people, on a global scale, can seek out your content and services at any time, from any place meaning you reach a wider customer base. Many people these days too, prefer to learn online, and; after hours.
- The education revolution is moving digital. The tell-tale worm is heading up, and more and more people are choosing to complete their studies online. If your business is just paper based, and lends itself to an online mode, consider making that move – sooner than later. Take a look around at businesses similar to yourself. What are they doing? Are you being left behind?
Remember to think of your LMS like an employee – would you let them show up only to perform one hour of work a day? Make the most of its idle time and let this fabulous system contribute towards the success of your business.
Your ecommerce strategy can be a key player in the success of your organisation. Your Learnbook platform is ecommerce ready out of the box and you can start transacting immediately. eCreators have assisted many organisations to get their products online and contribute to their ongoing success.
Talk to us today, and schedule a demo so your business too, can make money while you sleep!