We have all heard the old adage, sex sells. While that me be true, sex may not have the ability to generate incremental revenue and solidify customer relationships as well as e-learning. This may come as a bit of a surprise so let me explain. Every company selling a product or service has educational material available to their customers, but are they realizing the potential of that material to expand their business model and develop stickier customer relationships?
A fundamentally sound e-learning platform developed around your business and your customers can be a huge differentiator in the marketplace and most importantly could be an unrealized revenue source. Let’s look at a software business as an example. Company A is selling an enterprise software solution to mid-sized companies. There is a certain about of ramp up and training time required to implement their solution, as well as ongoing support calls. Chances are this is being handled by a small staff initially to handle installation, initial training either in person or via online meeting. Ongoing support is probably handled by a 800 number help desk, support email system or FAQ database. On the surface the systems are in place, and by most standards this is an acceptable practice in the software industry, but leveraging that internal knowledge base and transforming it into customer focused e-learning platform could open the floodgates to incremental revenue and better customer relationships! All of the internal knowledge, manuals, trainers, webinars should be transformed into a tactical, engaging and interactive online training curriculum of courses that is on-demand 24/7 for your customers to have all the answers to their questions with real-time tracking, scoring and possibly even product certifications! This type of online content delivery could drastically reduce ongoing support and internal manpower, while increasing the image and quality of your training product. It also opens the door to up sell subscription based access to your world-class customer training system, providing a real return on investment.
If you read my post about the blurred lines between training and marketing, you would know that the training system you built to educate your customers may be the best way to market to and engage prospects searching for your company’s solution. The needs of your prospects and customers only very by degree not kind.
E-learning is a powerful tool for education in both the academic and professional world. Why not leverage its power in your business. It could be the differentiator in your product or service, help generate more revenue and create stickier customer relationships.