Driving Growth in Training Isn’t Easy
Training organizations have a lot on their plates. They’re focused on meeting the ever-evolving needs of today’s learners, going through seemingly constant digital transformation, and are always evaluating new ways to make their business more profitable.
With economic change on top of everything else, taking your organization to the next level might seem daunting. But, in our research of highly successful training businesses, we’ve found that “growth” is really about two simple components: First, how are you getting your program in front of your audience – and how do you plan to increase the volume of that audience? And second, how are you currently pricing and packaging training so that your customers and your organization are seeing maximum benefits?
We’ve found that the businesses that have mastered this are both focused on growing their total engaged customers as well as continuously testing their pricing and packaging. In return, they’re seeing gains in headcount and budget.
This idea led us to build the new Growth Toolkit – a suite of frameworks, resources, and tools you can use to increase the discoverability and reach of your training, as well as optimize monetization decisions to achieve new levels of profit.
Growth = Reach + Profitability
This toolkit will walk you through how to tackle both elements of training growth: reach and profitability. First, you’ll find our guidelines for mastering discoverability and promotion, then we’ll dig into monetization, pricing and packaging strategies. By first making your training as accessible as possible to a growing audience, then refining the details that impact expenses and revenue, your training business will certainly drive major results this year.
The Growth Toolkit includes 4 steps to help you achieve this increase in training reach and profitability:
- Build a Public Content Strategy. Have you optimized your academy for SEO? And, once learners access your training, is your user experience strong enough to keep them there? Become and expert in the fundamentals of SEO and UX with our resources: Anatomy of an Optimized Academy and the Discoverability Checklist
- Nurture Your Learner Segments. Lean into the channels and reach activities that bring you the biggest engagement gains. Consider the entire lifecycle of your learners – how do your most successful customers move through the buying journey and become experts and advocates? Check out: The Learner Lifecycle framework and The “11 Tips to Drive Learning Content Consumption” ebook
- Pursue the Right Fee vs. Free Model. This is your opportunity to really set big-picture goals for revenue from training. Narrow in on a business model, and put together the right monetization strategy that will carry you toward your objectives. Set your goals with our resources: Customer Learning Business Models and The Ultimate Guide to Monetizing Customer Learning
- Unlock Maximum Profitability. Once an overall monetization strategy is in place, there are always toggles and levers to test to really make sure you’re increasing your training profitability. How can you reduce administrative or technical overhead? What brings in more revenue, 1:1 instructor training or a completely on-demand library? Consider every detail with our infographic: Drive the Profitability of Learning
Get more insights and access these resources in the full Growth Toolkit.
Unlock Higher Growth with Thought Industries
When your partner with Thought Industries, you gain access not only to best-in-class learning technology, but also to our roster of industry experts who can guide you with a customized strategy and roadmap. With our platform, increasing training reach and profit becomes even easier – just check out these features:
- Helium – Create exceptional, custom learning experiences using an open source, headless framework
- Panorama – Easily license, customize, brand, and distribute content across groups and cohorts
- Monetization Capabilities – Implement your ideal pricing and packaging strategy seamlessly with our eCommerce options
- Performance Reporting – Get insight into what’s working and who you’re reaching with our comprehensive reporting hub
If you’d like to learn more about how Thought Industries can multiply your training organization’s growth this year, get in touch. Schedule a demo now.