The internet has changed the way people consume content, whether for entertainment, work, or to learn a new skill or hobby. This shift has given rise to new businesses and opportunities for people and businesses to create relevant content and reach an increasingly interested audience.
The educational market is one that has benefited the most from these changes, especially with today’s tools that make students’ and teachers’ lives easier. Online training for professionals, for example, is in high demand.
According to a survey, approximately 40% of all Fortune 500 companies use online learning for training.
So, if you’ve been considering creating your own educational platform, now is the time. We understand that starting and running a business is not an easy task, and that’s why we will show you everything you need to know to get your educational platform up and running ASAP.
What Is An Educational Video Platform (e-Learning)?
Basically, it is an online platform where its core is to teach its users about a specific subject.
Assume you own a language school. With your own educational platform, you can sell individual classes to students, offer packages for various levels, and deliver high-quality content for a fixed monthly fee.
Location: With your online platform you can reach students from anywhere, even if they live in another city or country.
Time Flexibility: This is another advantage of eLearning, as the student can attend classes at any time and plan their studies on their own schedule.
Scalability: A significant advantage for your company is the possibility to grow without limits. With your online platform, you are not limited by the physical space of a classroom, and you can increase your earnings by attracting more and more students without raising your costs.
Rewatch: Thanks to the digital environment students can also control their learning and follow classes at their own pace. With the online platform, they can pause whenever they need to, rewatch a class, and thus better prepare themselves on topics about which they are unsure.
So, the advantages are fantastic, but what should you do to create your own LMS or E-Learning platform?
1. Select Your Niche
If you already own a business, such as a language school – as I mentioned above – your niche is already defined. So here, your challenge is to migrate to the digital environment and reach out to more students.
However, if this is not the case, it is critical that you analyze how the companies in the niche you want to enter behave. What is their strategy?
Pay attention to the mistakes of competitors so you don’t make them and so you can offer better solutions than they do.
2. Choose The Right Platform
To provide the best experience for your students and rely on the best features, you must choose the right partner.
FanHero, for example, provides all of the necessary structure for you to quickly build your educational platform, including maintenance, features, infrastructure, security, content organization, and payment methods.
As a streaming and OTT solutions expert , we can help you build a profitable business with high-quality streaming and simple tools.
You can also take advantage of our 30-day free trial to become acquainted with the tools and see how we can take your content to the next level.
3. Define Your Business Strategy
Single classes? Complete courses? Live events?
A) Subscriptions to access all classes for a monthly fee or an annual package
B) Direct transactions where the student pays to have access to a single piece of content or event
However, in the education niche, I don’t believe advertising is a good monetization model, considering that ads are supposed to interrupt the content.
You can also visit this article to learn everything you need to know about monetizing your video content. Click here.
4. Create Your Content
It’s now time to create and publish your content. You can, for example, use FanHero’s features to create categories, organize them as you will, and track data to create business intelligence.
BONUS. Set The Prices
With the classes uploaded on the platform and the monetization strategy defined, now you must set the price of your content and start selling.
Remember that with your educational platform you are not limited by the walls of the classroom, and you can exponentially scale your business.
Following these steps, you will begin to attract students to your LMS / E-Learning Branded Platform. Keep an eye out for their feedback, so you can always improve and reach new students while retaining the ones you already have.
We covered a lot of ground today, and you should feel more confident about getting your project started.
However, if you still have any questions, you can click here to contact our team.
Leave in the comments what your niche is and how you plan to grow your business.
P.S. Don’t forget to sign up for a 7-day free trial =D