The online course market is booming. With a projected global value exceeding $370 billion by 2026, it's no wonder businesses are jumping on the train to create and sell their expertise. However, as your online course business grows, basic course platforms might start feeling restrictive.
This is where an eCommerce LMS (learning management system) comes into play.
What is an eCommerce LMS?
An eCommerce LMS platform is a powerful tool designed to manage, deliver, and sell online courses. It goes beyond the functionalities of basic platforms, offering features that streamline course creation, enhance learner engagement, and facilitate efficient course sales – all while empowering you to sell your online training.
But how do you know when it's time to leave your basic platform behind and upgrade to an eCommerce LMS? Here are 5 key signs that show you've outgrown your current setup.
5 Signs you need an LMS with eCommerce
Sign #1: Manual processes are bottlenecking your growth
Early on, managing a single course with a basic platform might seem manageable. However, as your course offerings and learner base grow, manual tasks become a significant bottleneck.
- Enrollment hassles: Basic platforms often require manual enrollment processes, involving handling individual learner registrations, payment confirmations, and access credentials. Imagine the time this consumes when you have thousands of learners enrolling…yikes.
- Content delivery challenges: Uploading course materials one by one, manually dripping content, and relying on basic communication tools become inefficient with a growing course library.
- Payment processing pain points: Basic platforms might have limited payment options or require manual invoice generation. An eCommerce LMS platform streamlines the process with secure payment gateways, automated receipts, and the ability to manage different pricing structures (subscriptions, one-time fees, etc.).
An eCommerce LMS platform automates these tasks, allowing you to focus on creating high-quality training content and scaling your business. Enrollment becomes a seamless process with automated registration, payment processing, and access provisioning. Content management features let you upload entire courses in bulk and schedule content delivery to ensure a structured learning experience. Additionally, most LMS platforms with eCommerce capabilities integrate with popular payment gateways, streamlining transactions and simplifying revenue management.
Sign #2: Limited functionality hinders engagement
Basic course platforms are often limited in terms of content delivery formats and learner engagement tools. They might primarily focus on text-based lectures, lacking the variety needed to cater to different learning styles.
- Engaging with text and slideshows won't cut it: Today's learners want interactive learning experiences and a recent study highlighted this. Just 7 days after a training session, the average user forgets 65% of the material covered. And after six months, that number jumps to 90%. Basic platforms might not offer memorable features like videos, quizzes, downloadable resources, or case studies.
- A one-way street lacks community: Limited communication tools on basic platforms hinder interaction and community building among learners. This can lead to a less engaging learning experience and potentially lower course completion rates. Studies also show that learners prefer social learning – one survey showed that 76.9% of learners enjoy working with social learning tools.
Read the blog: Enhance learning with social learning platform tools
A good eCommerce LMS platform keeps learners interested and motivated with user-focused functionalities. You can incorporate video lessons, games, simulations, and checklists to create a dynamic learning experience. Many platforms also offer discussion forums, chat features, and even group project functionalities, fostering a sense of community and encouraging peer-to-peer learning.
Sign #3: You're struggling to sell and manage multiple courses
As your course library expands, basic platforms might not offer the functionalities you need to manage and sell them effectively.
- Selling one course at a time: Basic platforms might not allow you to create product bundles or offer different pricing tiers. This limits your ability to cater to different customer needs and maximize your earning potential.
- Course management chaos: Managing multiple courses on a basic platform can become cumbersome. Reporting features might be limited, making it difficult to track sales performance, see learner progress, and identify areas for improvement.
An eCommerce LMS platform equips you with the tools to efficiently manage and sell your courses. You can offer subscriptions for access to multiple courses and use coupon codes or discounts for promotional campaigns. Robust reporting features provide valuable data on sales performance, learner engagement, and course completion rates. This data empowers you to identify what's working well and make data-driven decisions to optimize your courses and maximize profits.
Sign #4: You’re worried about security
As your online course business grows, comprehensive data security is nonnegotiable. Learner information, payment details, and course content all require protection.
- Basic security measures might not be enough: According to IBM, in 2023, the global average cost of a data breach was $4.45 million, a 15% increase over 3 years. Basic course platforms might have limited security features, leaving your data vulnerable to breaches.
- Peace of mind is priceless: Data breaches can be devastating, damaging your reputation and potentially leading to legal repercussions. Consumers are concerned about data privacy. Studies show that most consumers would stop doing business with a company if they had a data breach or didn't prioritize data security.
An eCommerce LMS platform prioritizes data security. Features like user authentication, access controls with different permission levels, and secure data storage ensure your valuable information remains protected. Many platforms also comply with industry-standard security protocols like GDPR and PCI DSS, giving you and your learners peace of mind.
Sign #5: Lack of insights is hampering improvement
Basic course platforms often lack the analytical tools needed to understand how your learners are interacting with your content. Data like this is a must have for any LMS. 82% of learning and development professionals say that reporting and analytics features are important in an LMS platform.
- Working without a clear picture of learner behavior: Without data, you're operating on limited information. Basic platforms might only provide completion rates or rudimentary quiz scores. This lack of insight makes it difficult to understand learner behavior and identify knowledge gaps.
- Inability to measure course effectiveness: Similarly, without data on learner performance or feedback, it's difficult to know if the course is hitting its learning objectives. This makes it challenging to justify the course's value.
An eCommerce LMS platform equips you with robust reporting and analytics tools. These tools provide detailed insights into learner engagement, performance results, and even sentiment analysis from discussions or feedback forms. This data delivers the information you need to identify areas where learners struggle, refine content for better understanding, and tailor your courses to achieve specific learning objectives.
Read the blog: Selling Courses Online – Choosing the Right eCommerce LMS
Other eCommerce LMS advantages
While these five signs are strong indicators that you need an eCommerce LMS, the benefits extend far beyond managing limitations. Here are some additional advantages to consider:
- Automated sales processes: The system can handle tasks like enrollment, payment processing, and access management automatically, freeing you up to focus on creating new content and marketing your courses.
- Scalability: An eCommerce LMS platform can handle a growing number of courses and learners without compromising performance. This ensures your platform can grow alongside your business.
- Customer support: Reputable eCommerce LMS providers offer reliable customer support, ensuring you have the resources needed to troubleshoot any technical issues that may arise.
- Marketing Integrations: Many learning platforms integrate with marketing tools like your CRM, allowing you to seamlessly implement course promotion and sales into your existing marketing strategy.
Sell your online course with Absorb LMS
Scaling your online course business requires the right tools. If you're experiencing any of the signs mentioned above, an LMS with eCommerce might be the answer for you. It streamlines course management, automates tasks, helps you deliver engaging learning experiences, and equips you with the needed to improve your courses.
Ready to scale your online course? Learn how Absorb LMS delivers a strategic edge by simplifying your training development and sales. Absorb LMS was even listed as one of the best platforms to create and sell online courses this year.
Talk to our team and get a demo to learn more.
