How to create an eLearning Platform to Generate 3X Revenue?

The past few years were quite uncertain with the winds of change continuously blowing. Some sectors witnessed negative growth while others flourished with immense growth. At that time, eLearning businesses increased and showed a significant rise compared to the previous decades.

The eLearning market size was USD 339.3 in 2022 and is expected to grow at 14% CAGR between 2023 to 2032. Observing the current landscape, people are inclined towards eLearning businesses. Therefore, there is an uptrend in the number of new eLearning platforms. 

However, business owners need more clarity as to how they can build an eLearning platform that can help them generate more revenue. In this blog post, we will discuss what an eLearning business is, how to start it, and its benefits. Here, it is important to note that selecting a correct video streaming platform is important to operating and managing an eLearning platform.

What is an eLearning Business?

eLearning or electronic learning is the method of delivering learning content to the user through the digital medium. Here, the internet plays a key role in helping businesses accelerate their eLearning efforts by enabling them to learn anytime and anywhere.

An eLearning business provides a student with flexible learning through live and on-demand videos. Moreover, time flexibility, place of learning, and cost-effectiveness are some of the leading benefits of eLearning platforms. These platforms have a robust Learning Management System (LMS) to track and measure the performance of its students.

What are the Benefits of an eLearning Platform?

From individual students to organizations, everyone is moving towards an online learning platform. So we can say that the future of education lies in online learning and will overtake physical classrooms. Following are some of the benefits of an eLearning platform.

Boost in Global Reach

EdTech is well-known for reaching a broad audience of learners worldwide. In addition, these learners can also easily access educational content from anywhere via the internet. This showcases how education becomes more inclusive and available to people of all backgrounds.

Effective Communication

Communication is the key that helps to improve a strong student-teacher relationship. Here, Learning Management Systems (LMS) facilitate communication between online educators and their students.

Easily Update Content

eLearning platforms are popular to put their learner retention rate between 25% to 60%. These platforms can easily do it by replacing the existing content with new and improved content.

Real-time Analytics

Predicting a learner’s behaviour through real-time analytics makes an eLearning platform flourish in this uncertain world. This enables instructors to track the progress of the online learners and identify areas that require additional attention.

In addition to this, eLearning platforms offer various other benefits to online educators, making it possible to generate 3X revenue.

Also Read: Top 9 EdTech Trends

How to start an eLearning Platform to Generate 3X More Revenue?

Starting an eLearning business is more accessible and streamlined in today’s digital age, thanks to various tools, platforms, and resources available. To begin an online business, the following steps should be followed.

Step 1 – Define Your Niche

Consider the niche for the courses that will be available on your eLearning platform. Once identified, narrow it down to a specific niche. It will help to form the eLearning businesses and achieve primary objectives.

Step 2 – Select Business Model

Selecting the correct business model is important to ensure a smooth starting of an eLearning business. It will determine how that business will generate revenue. Here, paid certificates, monthly subscriptions, corporate collaboration or paid courses are leading business models adopted worldwide and you also need to select the one according to your business plan.

Step 3 – Do Your Research

Consider the audience first, and plan how your course can fulfill their requirements with proper research. Also, it is important to identify the target audience along with the challenges they are facing so you can attain your business objective.

Step 4 – Choose How to Develop

When the business plan is ready, the next step involves building an eLearning platform from scratch. For this, there are two options, build a platform from scratch or get a ready-to-use and fully customizable eLearning application.

Step 5 – Test and Launch

Now, you should thoroughly examine the performance of your eLearning platform, with a particular focus on real-time performance. After this, you are all set to launch your customizable eLearning platform loaded with multiple features.

Launch your eLearning Business in Minutes with VideoCrypt!

VideoCrypt can help you launch your eLearning business within minutes using the expert cloud consultants team. VideoCrypt is a go-to solution that builds a customizable eLearning platform loaded with multiple features. Apart from that, VideoCrypt also ensures buffer-free live streaming in SD, HD, FHD, or UHD quality. Moreover, you can also enjoy multi-device compatibility, real-time analytics, and online tests to assess students’ capability.

Conclusion

Wrapping up, we can affirm that eLearning has become a significant part of the contemporary world, ensuring its constant growth with the continuous rise of the total number of eLearning businesses. Therefore, a business must provide exceptional functionalities to its learners to make an impact in this fast-growing digital world. If you want to stand out with a perfect eLearning platform, get in touch with the expert team of VideoCrypt – a secure and interactive video streaming platform.