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How to Reduce the Cost of eLearning?

eLearning removes such expense items as: travel, rent of lecture halls, equipment, hotels, food expenses. But companies have different attitudes to eLearning: someone saves on LMS, instructors, content, while someone, on the contrary, wastes a lot of money and then, not seeing the benefit of training, decides to curtail the program. So how can you cut the cost of online learning without risking the benefits?

Choose the right LMS (Learning Management System) for your business needs

Before choosing any LMS, study its functionality; request a short demo; if possible, take a trial. Some learning management systems will require more money and time than others.

Do not buy ready-made online courses

At first glance, it may seem that buying someone else's course is cheaper than creating your own. But don't rush. Any external training is created according to universal modules. It can be useful for newcomers to work, but for more experienced employees who have been working in the company for a long time, this is not suitable. For example, you can buy a general course on sales, or on setting up Google Ads, but this will only be general knowledge that may not be applicable in practice in a company.

A much better solution would be to ask senior and middle managers to create courses for less experienced employees. So they can share their best practices, client communication scripts, contextual advertising settings, and many other tricks that they have learned during their work. And these chips will be relevant for your company, which is very valuable.

You don't even need to spend on expensive equipment. For example, to create a basic video course, a mobile phone with a good camera and an office with good lighting are enough.

Fewer external consultants, more internal expertise

This paragraph is a smooth continuation of the previous one. Learning and development coaches are expensive. As professionals in their field, they can do their job well, but you have to pay for it. Also, they usually want to supplement their courses with complex animations, custom images, and other things that take up a lot of resources.

In general, it is strange that many companies turn to external consultants, because this is associated with high costs. At the same time, they completely ignore free coaches who know the company best - their employees. But all that is needed is to give them the opportunity to talk about their experience.

Eliminate expenses that are not directly related to training

Many organizations that want to create courses for their employees get stuck at a very early stage. They think about where to hire content people, designers, videographers, what equipment to buy and much more. When the estimate is knocked down with all these expenses, the enthusiasm for launching training courses plummets to zero. The good news is that none of this is necessary, at least not to begin with.

  1. Don't buy expensive cameras and recording equipment. Use mobile phones with a good camera and headphones for it to record high-quality videos. Today, many phones record in 4K and even 8K. You can also easily record audio on your mobile phone.
  2. Do not rent a separate room. For the studio, allocate a separate office, for example, a conference room, with good lighting and rare visitors.
  3. Don't hire coaches. Involve content creators who have stories to tell. Let them do it in any convenient way: write a text, record audio or video, create a presentation.
  4. With the LMS custom development system, you can create a space with any content, and not just in different lessons, but within a single lesson! This means that one lesson can contain text, pictures, presentations, audio, video, PDF files, or any other files for students to download. And it all looks great on any device.
  5. Don't involve designers. It is not necessary to create complex images for visualization. AcademyOcean has a hotspot feature, or hotspots. Arrange them on the pictures and explain to the students what you mean.
  6. Use what you have. Most likely, the company already has documents that help to adapt newcomers, train employees from the sales department or customer support. For example, manuals on standard operating procedures can easily be repurposed into online courses.

Use microlearning

A not-so-obvious waste is the cost of lost productivity during employee training. In some positions, this is obviously more than in others, for example, in sales. Training can take a lot of time. But microlearning is a mechanism that will allow learning in small portions of 5-10 minutes to meet the technological expectations and attention span of today's students.

Conclusions

So, you want to start your online learning process and are looking for ways to cut costs? Does your company need to increase employee productivity without spending a fortune?

Here are 5 ways you can cut your online learning costs:

  • correctly and far-sightedly choose LMS;
  • do not buy ready-made courses, but create your own;
  • hire less external coaches and give more preference to their managers with experience;
  • exclude unnecessary expenses;
  • use microlearning.

Apply one or all of them to meet your budget.

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