Initial publication in 2015 (lower), updated in April 2021.
The online training is undoubtedly a revolution in the field of education and knowledge transfer. Thanks to its flexibility, diversity, and interactivity, the learning process is 17% more efficient online than in the classroom. The result is a higher level of satisfaction for the student and better financial results for the teacher.
Whether in the academic, professional or business environment, online training generates more and more income. The market size has gone up to $200 billion in 2019 and is expected to reach $375 billion by 2026. Many entrepreneurs have understood that this is a business opportunity worth exploring.
Online training is a tool that can be very interesting in a business strategy from different approaches. Here are some suggestions for using this opportunity that will make your numbers soar!
Continuous training is a good way to retain employees and increase staff retention. By implementing a Learning Management System (LMS) like Didacte you can save a lot of time and money in this process.
Using online training for your team's education helps involve them in their professional growth. An LMS makes it easier for students to access resources and allows them to progress at their own pace. It is a tool that avoids disruption of their schedule and that encourages them to develop new skills and knowledge.
For the employer, an LMS makes the work of training follow-up and evaluation much more centralized. By having quick access to employees' progress, it is easier to intervene directly with the students concerned.
Online training can be used for a variety of corporate functions, not only for continuous education. When recruiting, it is a good ally for monitoring the welcome and integration plan for the new employee. For the implementation of new procedures, it is a good way to facilitate change management. It is also a way to remind people about health and safety standards and corporate values.
A survey by the American Society for Training and Development has shown that an effective training program increases profit margins by 24%. This is a significant business opportunity that is difficult to pass up!
Do you want to know how much it costs to use an LMS like Didacte and the savings it represents for your business?
Calculate the potential for optimizing your training budgets using our tool.
Selling Training Online
There are several advantages for a business or freelance worker to create content online. Here is a shortlist of the main reasons that might convince you to sell training online:
- Diversify your sources of income;
- Have a passive source of income;
- Generate "leads" for your other products and services;
- Develop new customers;
- Strengthen your positioning in the market;
- Educate your customers to make them more independent;
- Save time and money if you were already doing indoor training;
Online training in the U.S. generated revenue growth for 42% of organizations in 2018. It is therefore almost half of the companies that have perceived the business opportunity of this growing market.
Among the options for selling training, training platforms have several advantages for small businesses. In addition to offering various packages at suitable costs, they are easy to use, both for the trainer and for the students. They provide the essential tools for publishing content, creating quizzes and monitoring students.
Want to know where to start selling online training?
Here are 30 essential tools to support you in your creation process.
In addition to the educational component of online training, there are other uses for this tool.
Thanks to the flexibility of platforms like Didacte, it is easy to use the application's functionalities for transformational programs. Good examples would be group coaching, personalized coaching, physical or mental training program, etc.
It would probably be possible to create such programs on any website. However, online training platforms are better suited for this type of content. The program creator can easily identify modules or stages with different objectives.
Whether it is through autonomous or controlled progression, each participant can progress in the program and receive the necessary support. It is, therefore, a tool that allows interaction with the participants without the physical presence being required.
We understand that the online training market is skyrocketing because the majority of companies can benefit from it. It is a business opportunity that can become very profitable if it is well organized and applied.
If you would like to learn more, contact us and we will be happy to assist you in the process!
Original post (October 2015):
In 2015, the online training market was on its way to make 50 billion USD worldwide and should reach 51,5 billion this year.
The market for distance education which englobes online training courses and other methods such as the sale of audio CDs and training by phone is on its way to make around 107 billion USD.
The numbers are just incredible!
In this article, we are going to explore the market and its evolution in different parts of the world. With concrete examples from entrepreneurs and modern companies that have thrived thanks to online training.
- 27,1 billions (53%)
- 4,4% annual growth
The largest and most mature market in the world. In the United-States, an online training tool is used in 75% of businesses of all kinds and sizes. The larger the company, the more it will tend to include online training in its process.
A strong trend is an upsurge in the use of video material, a lot of independent web entrepreneurs are creating, sharing and selling online training courses.
- 11,5 billions (22%)
- 17,3% annual growth
The second biggest market is also the one with the most important growth. If they keep going, they should catch up with the North American market in less than 10 years.
Mobile use is a lot more important and the context is quite different than ours. For example, student tutoring after school is quite popular and is usually done online.
This reality leads to interesting stories, such as the one of the “Rock-Star” South Korean teacher who makes over 4 million dollars per year thanks to the sale of his online tutoring videos.
- 8,1 billions (16%)
- 5,8% annual growth
The third-largest market in the world is small yet just has developed than the one in Northern America.
Europeans have a tendency to use third party subcontractors to create the content of online courses (such as educational consultants), whereas we are stronger when it comes to creating the content in-house.
- 1,4 billion (3%)
- 14,6% annual growth
- 1,2 billions (2%)
- 16,9% annual growth
- 560 million (1%)
- 8,2% annual growth
- 512 million (1%)
- 15,2% annual growth
Online broadcast according to the types of training
The different types of training are key elements that can completely change the rate and popularity of an online broadcast. Some training courses work well and seem to be made for the web, while it can be difficult for others:
The best types of training targeted for the web are the mandatory continuing education programs linked to any professional orders that constantly need to renew themselves in order to comply with new rules and regulations.
Campus Finance is a good example. Financial advisors have to get a certain amount of financial and insurance PDU every year in order to keep their titles and their right to practice.
It’s not surprising that the training courses that do not do well online are the ones who talk about the human side of things. At the very bottom, we can find executive development, closely followed by interpersonal skills and customer service training.