Incorporating Extended Enterprise Learning to Drive Business Impact
Innovative companies know that the most effective way to create value is to build a culture that promotes continuous learning. However, this shouldn't be limited to the company's employees.
In fact, by extending this aspect beyond their walls and to their customers, vendors, and partners, companies can create a more productive ecosystem that will benefit all parties involved.
In this article, we'll look at extended enterprise, the benefits it can bring to your organization, and the ways companies can use it to drive business impact. Let’s dive in.
What is extended enterprise learning?
Extended enterprise learning is a strategy that creates a shared learning ecosystem among your organization's customers, vendors, partners, and other non-employee stakeholders.
You can tap into your business's full potential with an extended enterprise LMS. It's a win-win situation that benefits both the company and its audience: businesses gain additional tools for generating revenue, and their audiences become empowered with content that can impact personal or professional growth.
The 8 top benefits of extended enterprise learning for your organization
Extended enterprise learning can significantly enhance your organization's bottom line, but it also gives you the ability to:
1. Reduce overall costs
A well-designed LMS can reduce costs by giving you the tools to minimize the knowledge gap between your customers, partners, and employees.
As a result, your company can reduce the need for expensive training programs or consultants and save money on travel costs associated with in-person meetings and conferences. In fact, a 2020 study conducted by the Brandon Hall Group found that 58% of companies have reported savings by incorporating this strategy.1
2. Accelerate timelines
Through the use of extended enterprise learning, companies can streamline timelines by creating a digital learning environment that allows end users to access online training resources anytime, anywhere.
3. Diversify revenue streams
Adding extended enterprise learning to your current offerings can generate an additional revenue stream that will positively impact your bottom line.
For example, selling content, certifications, and general product training are just some of the many ways you can build a sustainable revenue source by incorporating this strategy.
4. Boost profits
Well-trained partners, vendors, and resellers are more likely to close deals because they have the knowledge and confidence required to do so.
Additionally, customers who are provided with the tools, resources, and training required to use your product effectively are bound to have fewer support issues. This highly impacts their decision to renew or repurchase from your company.
5. Ensure more efficient support teams
Incorporating extended enterprise learning into your company's operations will empower your non-employee stakeholders with the tools and training they need to resolve issues independently.
This will allow your support team to focus on more critical issues while still providing customers with the high-quality service they expect.
6. Improve customer engagement and satisfaction
Extended enterprise learning enables companies to keep up with the demands of today's hyper-connected customers. They are more likely to stay engaged when they have access to self-service tools that allow them to resolve issues on their own. This is especially true if those tools provide them with new insights into how the products work and how they can use them more efficiently to best suit their needs.
7. Build a strong brand image
Companies that offer their stakeholders the ability to tap into a wealth of knowledge and expertise are building trust and loyalty.
Customers, vendors, channel partners, and resellers alike enjoy connecting with experts when issues arise that require immediate attention. And when those people become advocates for your company, they spread positive word-of-mouth about your brand.
8. Grow with your audience
Extended enterprise learning is about more than just providing your stakeholders with the information and tools they need to be successful. It’s also a chance to make sure your company is growing in tandem with its audience.
You’re providing a service that helps others but also enables you to improve your products and services. This allows you to expand into new markets, build stronger relationships with your partners, and gain valuable insights into customer needs for future product development efforts.
Uses of extended enterprise learning
Now that you’ve seen the many ways extended enterprise learning can benefit your organization, it’s time to put those ideas into practice.
Any business can incorporate this powerful strategy; however, here are some examples of common uses that will drive growth and maximize impact:
- Train your vendors and resellers on your product's best features to help them improve their sales skills, answer customer questions, and establish relationships with potential buyers
- Create a customer learning program to help them develop new skills, improve efficiency, and avoid costly mistakes
- Conduct online workshops for the public to get the word out about your brand and build your reputation as an industry leader
- Provide career-development opportunities to help people grow in their roles and gain new skills
Incorporating extended enterprise learning with Absorb LMS
If you're an organization looking to incorporate or replace a comprehensive extended enterprise learning system, you have a lot of decisions to make.
Make the process easier by partnering with a platform that has the features, flexibility, and scalability to meet your needs. Absorb LMS is a powerful platform that can incorporate multiple learning and development systems into one seamless program.
Moreover, Absorb LMS is highly customizable and user-friendly, which makes it easy for learners to access the information they need. And when they've completed a training, you can provide custom certificates and badges.
Your stakeholders will benefit from a robust, intuitive platform that's adaptable to different screen sizes and devices and has a responsive interface that allows for social learning and collaboration.
Ready to drive business impact and empower your learners with the tools they need to succeed? Learn more about the extended enterprise model or request a free demo to experience the award-winning learning management system for yourself.