Why would anyone want to create an online course and why should you?
Well, the majority of entrepreneurs embrace selling online courses as an additional revenue source. Online courses cost less to create, take less time, and there are no shipping costs involved, while you have a product that can be sold unlimited times.
The growing knowledge economy, where information is power, has also increased demand for online courses. It is without a doubt a booming market worldwide and research statistics prove it. As recent data finds, the global e-learning market is going to reach €320 billion by 2025, and this is evident through the Compound Annual Growth Rate (CAGR) of 7.5% that shows an increasing demand and interest in online content and digitalisation. This is good news for anyone looking to make sales from this mediu,
Not only that, but businesses from varying industries have started adopting various training solutions that promote the e-learning market further. While the ability to invest in education and lifelong learning is an emerging trend among both old and young demographics.
These trends, along with the tendency of people to prefer the comfort and flexibility of their homes, avoiding the complexities of commuting to physical classes has led their undying thirst in personal development to explore new ways of developing their skills online.
The Ultimate Guide To Selling Online Courses (vol 1)
Discover how to make your online courses ready for sales and, most importantly, profitable.
While setting up an additional revenue stream of passive income is the prevailing reason why would an entrepreneur – or anyone for that matter, want to create an online course, that is not the only advantage attached to it.
In fact, an online course can help:
– Enhance your online brand/presence: educating your audience can establish you as a thought leader and a source for new knowledge. This is possible through many ways e.g. perhaps you already have a YouTube channel, a blog, an author site, you are a keynote speaker, you are making podcasts, or you are offering coaching/consultancy services. This is usually a good starting point for industry experts who want to share their knowledge with the public and supplement other services.
– Create a loyal following of your current clients: through marketing/advertising efforts and the promotion of your online course, you can build brand awareness and get more customers potentially interested in what you offer.
– Train your customers into using your products: helping your customers/audience achieve what they want and keep them happy. An online course can be away of on boarding to your other services. Then you impose higher lifetime values and expectations, you get lower churn rates and can potentially have more referrals coming your way.
Whether you are part of a business or an individual who’s interested in creating online courses, you should know this:
If you have an idea, a skill, a passion, an audience or some content you want other people to see, then create an online course and generate revenue out of doing what you love. All you need to do is offer an answer or a solution that serves a specific purpose to your students.
People will only come to you if they find what you are offering is valuable and life-changing for their own personal or more often, professional needs. So then, your goal would be to encourage them to see your course as an opportunity for development, a journey of transformation upon which you are calling them to join.
Next Week: Part 2 in this Series.