How To Monetize Your Course Catalog
You want to set up a shop but aren’t sure if an eCommerce LMS is a wise investment. However, there are a number of convincing reasons why you should invest in a new platform to monetize your course catalog, such as being able to accept secure payments and offer subscriptions to your loyal eLearning fans. But there’s more to it than simply signing up for free trials to pick the perfect tool and uploading your assets. Here are some tips on how to use eCommerce software to boost eLearning course sales and make the most of your existing resources.
1. Evaluate Your Assets
A good starting point is to take stock of the content, tools, and other assets you already have. This allows you to determine your “money makers” so that you can address a niche pain point using an eCommerce LMS. This also gives you a chance to polish up existing resources to make them consumer-ready. For example, if your course was primarily intended for in-house staff members, you may need to make some minor modifications before offering it to online masses. Another reason to inventory your assets is to choose an LMS for eCommerce that aligns with your needs and objectives. Ideally, it needs to be compatible with your existing tools and involve minimal re-formatting. In other words, you can migrate your content with ease and not have to worry about purchasing replacement software.
2. Invest In A Platform With Shopping Cart Features
One of the essential features your new eCommerce LMS must have is a built-in shopping cart. This gives your customers the ability to quickly add courses to their cart (or multiple courses) and streamlines the checkout process. These are all done “in-house” instead of transferring them to a third-party shopping cart provider. This instills more confidence in buyers since they can wrap up the entire process, using a single platform.
3. Test Drive The Tool To Evaluate Its UI
There are two key reasons why you need to evaluate an eCommerce LMS user interface. The first is that you need to make it stress-free for customers to use the system not only to purchase their product but to actually access the content. This includes perusing your course catalog, previewing content, and seeing which other courses you have available. Customers don’t have the time (or patience) to try to get over a steep learning curve so that they can buy your eLearning course. The second is that your team must be able to use the tool to develop, deploy, and track your courses. This can be challenging if the tool is about as user-friendly as a space shuttle launch.
4. Opt For A Platform That Offers Payment Gateway Support
You need to give your customers the assurance that their payment information, as well as all their personal data, will be kept safe and sound. This requires an LMS for eCommerce that features a secure payment gateway or supports third-party service providers (PayPal, Stripe, etc.) This way, you can make your course catalog global and ensure that your customers have a quick and convenient way to enroll .
5. Customize Your Storefront
Some eCommerce LMS solutions have out-of-the-box storefronts that allow you to quickly set up a shop and start boosting your eLearning course sales, while others enable you to customize virtually every aspect of your storefront to reflect your branding. There are even some that feature integrations with third-party providers, like WordPress or Shopify. Look for tools with built-in store templates so that you can add personal touches, such as your logo and color scheme to keep a consistent brand image.
6. Consider Subscription-Based Services
While many eLearning companies choose to sell individual courses directly, there is something to be said for the subscription-based model. With this approach, customers purchase access to your courses for a set time period, or they can buy eLearning content bundles by choosing a membership tier. For example, they have access to your entire sales course catalog for a month before having to renew their subscription. Your new LMS must be able to support this service and allow you to set up different user levels or licenses, such as giving organizations the opportunity to purchase a 50-user bundle so that every member of their team benefits.
7. Enable Auto-Enrollment For Easy Access
Customers who purchase your course expect to be able to access content immediately after making a payment. For this, your LMS must feature auto-enrollment. As soon as they purchase your course, it shows up on their dashboard or they can log in to it right away. Another approach is assigning this task to your admin. This can be time-consuming for them and frustrating for customers who have to wait to get what they paid for. Another feature to look for in your new LMS for eCommerce is multiplatform-friendly access. Users should be able to log in to courses, view their purchases, and track progress on any device. All they need is a user name and password to train or modify their account.
Driving sales with an eCommerce LMS does require a detailed marketing strategy. After all, you can’t simply upload content and wait for learners to roll in. Long before you choose the right tool, customize your storefront, and deploy your course, you need to reach out to your target audience. Social media is a great place to start. However, you can also register your eLearning company to spread the word, or even promote your custom content provider services.
Use our online directory to find an eCommerce LMS with shopping cart features and secure payment gateways. You can weigh the pros and cons, thanks to user reviews, as well as narrow search by use case, features, and pricing models.