eLearning Statistics Companies Need to Know

eLearning has become a standard in today’s business. With the help of eLearning, companies increase revenues, minimize downtime, provide accommodations, and engage their workforce. So exactly how big is eLearning? The numbers below provided by eLearning Company can help you answer this question.

  • An employee typically spends 40-60% less time on eLearning compared to traditional learning settings.
  • A good eLearning program can offer retention rates as high as 25-60%.
  • In the same amount of time, eLearning solutions can deliver 5 times more material compared to a classroom setting.
  • 42% of companies attribute the increase in revenue to eLearning.
  • On average, every dollar invested in online training results in $30 in productivity gains.
  • The employee engagement increases by 18% by the use of eLearning solutions.
  • Over 40% of Fortune 500 companies currently use technology for training, and this number will only increase with time.
  • 72% of companies agree that eLearning helps them increase their competitive edge due to its ability to keep up with the changes.
  • eLearning industry has grown 900% since the year 2000.
  • Companies that use eLearning generate on average 26% more revenue per employee.
  • When IBM switched to eLearning, it saved about $200 million.
  • Compared to a face-to-face training, eLearning requires 90% less energy and produces 85% less CO2.
  • References:

    http://info.shiftelearning.com/blog/bid/301248/15-facts-and-stats-that-reveal-the-power-of-elearning

    Custom eLearning as a Marketing Tool

    All successful marketers out there are constantly on the hunt for the next big thing in their field. A tool, an idea, an approach that will make their product stand out from the rest and ultimately result in more sales and better business outcomes. This year, the next big thing came from an unexpected place—education. Online education, or eLearning, to be exact.

    Today’s top marketing organizations aren’t just those that move first to new channels, but those that utilize full spectrum of marketing technologies to blend creativity with data. An interesting trend among marketing powerhouses in the US we’ve been noticing is an unpredicted move to consumer education through custom eLearning solutions such as product knowledge training courses aimed at potential customers who might be interested in the product or service.

    A typical consumer who is not well educated about an advanced product or service tends to focus on the cost, with lower price being the main driver towards a sale. On the other end of the rainbow there is a well-informed potential customer capable to recognize that it’s worth to pay more for better quality, additional features, and higher satisfaction. Instead of trying to sell the product to an uneducated consumer (and with that engaging in price wars with the competitors and undermining own margins), a smart marketer would spend time educating the consumer about the features and benefits of the product and how said features and benefits might justify a higher price. Once an uninformed prospect becomes an informed lead, they are not only much more likely to make a purchase, they are also much more likely to pay higher price for the product as well as enroll in optional premium features. By using eLearning to educate their consumers, marketing organizations create loyal followers and ensure higher customer satisfaction due to the fact that the consumer becomes educated about a product even before the sale occurs, thus knowing exactly what to expect from the product, which minimizes the risk of being unhappy with the purchase.

    Another reason eLearning works so well in marketing is because the attention span of an average consumer is rapidly shrinking, forcing marketers to look for new ways to attract and keep public’s attention. Knowledge is a commodity attractive enough to interest most consumers take the time out of their busy schedules to get to know the product. Many people are motivated by learning and would be willing to sit through a product training if they knew they would acquire new knowledge in the process. Think about it the next time you are creating a marketing campaign. Give your customers the knowledge and you will give them the power to make the right decisions such as spend more money on your product instead of buying a cheaper watered down alternative from a competitor.

    Big ideas are already here. They are right in front of you. They’re about showing what your product and service can do for people, how it helps them, which needs it fulfills, what impact it has. eLearning is capable to communicate exactly that, and do it in the cloud, on demand, and without breaking your marketing budget.

    References:
    https://www.forbes.com/sites/baldwincunningham/2015/10/14/what-one-vc-thinks-are-the-next-big-things-in-marketing-tech/#7296825e6616

    Generate a Sense of Achievement, This will Ensure Longer Lasting Results

    One big mistake that training and development professionals often make is treating an eLearning course as a boring routine task that only exists to make everyone miserable. No need to say, this approach does not lead to long lasting positive results from the training. We should look at eLearning courses we offer to our learners as series of challenges. The completion of the courses should require some amount of effort and attention. If a learner feels that completing an eLearning course is an achievement, he/she is more likely to apply the knowledge from the course in real life, ensuring you receive a return on your investment, as well as possible higher performance, employee morale, and job satisfaction.

    Allow Learners to Fail in eLearning and Use Failure as an Opportunity

    It’s perfectly normal to make an eLearning course challenging. We all learn from our mistakes in real life and the same is true in eLearning. A failure can be used as an opportunity to build memorable learning experiences, learn, and grow. In fact, a huge mistake one can make when planning an eLearning course would be to make the course too easy. Your learners love challenges. If those challenges bring temporary failures (and learning opportunities!) then the course and the content will only be more memorable, which means they will have a longer and more significant impact on the performance outside of the training course.

    Your Training Department Needs eLearning; Fortunately, eLearning Company is Here to Help

    Most people who work in the corporate training and development function would agree: training departments are chronically overworked and constantly have too many things happening at the same time. Well, there are good news: you can make life easier for your training department while saving money at the same time—switch to eLearning. The first step should be looking around and seeing which of your trainings can be moved to eLearning. Things like compliance trainings, knowledge-heavy workshops, trainings on policies, product knowledge courses are all great examples. Offering eLearning to your staff will not only allow the training department to have more time for other important functions, but will also save you a lot of money in the long run, and will offer the opportunity for continuous training and re-training without any additional cost. The great news is that you already have a reliable partner is the eLearning industry. Reach out to eLearning Company today to find out how you can benefit from offering eLearning to your staff.

    Companies that Offer eLearning Generate 25% More Revenue per Employee

    We all know that for any business goal (such as making money, keeping customers happy, making a difference in the community or anything else really), your staff is what the outcomes most depend on. That’s why it’s always in your best interest to keep your staff fully trained on product, sales skills, interpersonal skills, and many other subjects that are crucial to the success of your business. eLearning provides a great way for your staff to keep their knowledge and skills up to date without placing the burden of high training costs on your business. And any investment you make in your staff is a direct investment in your business. Studies show that companies that offer eLearning generate 25% more revenue per employee. Wouldn’t you want to have more revenue? Maybe you should give eLearning a try and see what it can do for your company.

    Every Dollar Invested in eLearning Results in $30 in Productivity Gains

    There are those business expenses that make perfect sense to save on. And there are those that are so crucial to the business success, that you just don’t want to save on them because doing so will undermine your business in the long term. Training and development is one of such expenses. It has been proven over and over again that investing in staff training is a great way to ensure the success of your business going forward. In fact, according to recent studies, every dollar invested in eLearning results in $30 in productivity gains. eLearning is a great way to spend your training dollars efficiently because it doesn’t come with a large overhead such as paying for dedicated trainers and picking up the cost of travel to the training sites. The best way to be wise with your budget is to invest in great eLearning courses; this will be a direct investment in your staff and the success of your business.