Have your parents described to you how they used to go to school or university? We bet their path looked something like in the cover picture.
In 2022, even going to a library to access information isn’t popular anymore. And what for, when e-learning offers so many benefits for both students and businesses?
- It’s convenient since you can learn anytime and anywhere. Learning new skills or even getting a degree while being at home sounds attractive, right?
- Online learning allows businesses to quickly launch and test educational hypotheses and adjust curriculum if necessary.
- It saves (a lot of) time. According to the U.S. Census Bureau, the average daily commute time is 54 minutes. Now this time frees up for other important things.
There were two main phenomena that contributed to e-learning industry growth. The first one is the dot-com boom in the late 1990’s and early 2000’s. The second one is the coronavirus pandemic which marked the shift into digital-everything and changed the way we eat, travel, work–and learn, too. This resulted in 900% industry growth since 2000, according to the KPMG report.
In 2021, the market size of the e-learning market crossed $315 billion and is predicted to observe 20% CAGR during the forecast period of 2022-2028 in North America (Global Market Insights). You’ll find more fascinating data about the fastest-growing market in the education industry below.
E-Learning Market Statistics That You Shouldn’t Ignore
- A Linkedin survey reveals that 90% of corporate businesses offer eLearning opportunities to employees.
- Skill Scouter reports that 40% of Fortune 500 companies use e-Learning in their business model.
- Almost 80% of American employees prefer to study at their own pace and in comfort of their homes, according to the National Center for Education Statistics.
- E-learning takes 40% to 60% less employee time than traditional learning, eLearning Industry.com reports.
- Statistics from Paper Owl reveals that e-learning can increase employee’s engagement by up to 18%.
- IBM research found that for every dollar invested in e-learning, the company gets $30 in productivity. There are two main reasons for that: e-learning saves time and employees are able to apply the new skills faster.
How to Build an Online Training Program: 4 Easy Steps
Know Your Audience
Start with defining the audience that you create a custom online training portal for. This stage is fundamental for future portal development, determining the list of features and design, as well as creating marketing strategies at further stages.
Portrait of your target audience usually includes:
- Age
- Gender
- Location
- Hobbies and Interests
- Income
- Education level and Profession
Hire The Development Team
These people will turn your idea into a running online portal. Why hire a software development company? Usually, they are working with different industries and have a large skill set and market insights. For example, we at Softarex have 22-year experience in creating custom solutions for industries like Healthcare, Aviation, Hospitality, and Education.
Recently, we wrote a sequence of blog posts about collaboration with software development companies to cover all questions that may appear. Here is the list of them:
- The Most Important Questions to Ask a Software Development Company
- Read This Before Beginning Your Custom Development Project
- The Benefits of Outsourcing Software Development
From submitting requirements to final deployment, our team will be here at every stage ensuring that you get high-quality software at the end.
Collect Feedback
Once your software development team delivers a working version of the online portal, you can let your customers use it and share their opinions with you. It’ll arm you with valuable insights about the functionality, features to add later, and the ways to optimize your product. Positive or negative, this feedback will empower positive change in your business.
Scale
Developing a product is a never-ending yet exciting process. You may want to launch A/B tests, change interface, add new features, remove old ones, or even make a pivot.
With so many decisions to make, it’s easy to get confused or choose the wrong path. For over 20 years, we’ve been developing cutting-edge software solutions that deliver value to businesses, organizations, and individuals across the world. We’ll be happy to assist you in creating your online training portal. Feel free to contact us or take a look at our portfolio.
