The Covid-19 pandemic has affected various businesses in different ways. It has opened doors for new avenues and spurred growth in specific sectors, online tutoring being one of them. Online academies and courses have become very common in the present times. Nowadays, almost every student turns to his/her laptop to learn new skills and every teacher prefers teaching online to make a side income. Online classes came to be known as the only safe method of disseminating information during the Covid-19 pandemic.
While industries like tourism, airlines, hotels, etc suffered, Ed-tech (Education technology) came out as a superpower. Schools and colleges shifted online and an inclination towards ed-tech startups became common.
Some interesting statistics that might push you to expand your online business are as follows:
Students retain 25-60% more material when learning online compared to only 8-10% in a classroom.
42% of companies state that e-learning has led to increased revenue.
eLearning is one of the fastest growing industries, and it continues to grow rapidly. Since the year 2000, the market growth rate has been 900%.
eLearning is good for the environment. Britain’s Open University’s study found that producing and providing eLearning courses consumes an average of 90% less energy and produces 85% fewer CO2 emissions per student than conventional face-to-face courses.
Huge numbers, right?
Not just the western part of the world, but countries like India, China, and other Asian countries have also seen a tremendous shift in students’ learning tastes and preferences.
Nowadays, everyone is busy creating an online course not realizing whether they’re doing it right. Yes! Everyone is creating as many courses as possible without any strategy or plan of action in place. And sadly, these are the people who complain later and blame technology for their misery.
But, how to know if you’re doing it right? Well, there is no hard and fast way to expand your online tutoring business and get more revenue. It takes months and years of consistency, precision, and persistence.
How to Expand your tutoring E-learning Business?
1. KNOW THE IDEA BEHIND EXPANDING YOUR E-LEARNING BUSINESS:
“If you go to work on your goals, your goals will go to work on you.” It is impossible to flourish in the e-learning market without having your goals in place. Make a list of the factors that you want to consider before stepping into a new market (i.e. before expanding), relevant metrics, and a roadmap to expansion. It would be better if you could have these in writing so that you remember them more vividly and work towards them. If you want to be the most established teacher in the domain, write it. If you want to get some specific number of students on board, write it! No goal is big or small. It’s your passion towards the goal that matters at the end of the day.
While drafting your expansion goals, answer the following questions:
- Why do I want to expand my business?
- How much increase in student registrations am I expecting?
- How will I track these metrics?
- What more channels should I deploy?
- Should I diversify my content portfolio?
- Till when do I want to see the desired results?
- How do I make sure that I add value throughout?
Answer these and you are one step closer to your ultimate motive.
2. IN ORDER TO EXPAND IN THE NEW MARKET, WORK ON YOUR PERSONAL BRAND:
Nowadays, people want to learn from someone who is the best. And how do people know that you are what they’ve been looking for? Through your personal brand!
“Personal branding is an intentional effort made in influencing the people’s perception of a particular individual by positioning them as an expert in the relevant field of interest.”
Deploy channels like LinkedIn, Instagram, Facebook, and Quora to create a sphere of influence.These channels are very friendly if you have quality content in your pockets. The more following you have on these handles, the more people are likely to take up your online course. Focus on creating value, help others, take webinars, collaborate with organizations, and BE CONSISTENT. This social media following will undoubtedly be your best help in expanding your tutoring business. It works like magic, truly.
3. BUILD YOUR COURSE’S MARKETING COLLATERAL:
Marketing collateral, in simple words, is the summation of media used to support the sales of a product/service. They essentially provide credibility to a business and help in getting more people on board. And once you have more people on board, you have more business, and you expand better.
Some of the common types of marketing collateral are as follows:
- Customer testimonials
- Case studies
- Interviews with past course takers
- Social Media Establishment and Reach
4. REFERRAL PROGRAMS AND QUALITY EXPANSION:
The fastest and most renowned way of expanding your business online is running referral programs. “Word of mouth” is undoubtedly the best marketing technique. People usually trust their friends, family, relatives, etc while purchasing and a referral program would act as the best way to inject engagement. A referral benefits both: The online course provider and the student who refers. In return for a past customer referring the course to his/her acquaintance, you can provide them with incentives like discount vouchers, free sessions, or even credits and endorsements. The list is endless.
Technology is the most powerful tool in the 21st century. Ones who use it right, win and gain, others don’t.
“We need technology in every classroom and in every student and teacher’s hand, because it is the pen and paper of our time, and it is the lens through which we experience much of our world.” David Warlick
The internet is where every business belongs. If you want to stay afloat and get a regular stream of income, you need to get online and tap the endless potential. But don’t forget to do it right. Even in the case of online tutoring, choosing the right platform, and content becomes extremely crucial. If you’re still stuck and unable to grow your online coaching business, approach Academical.ly! Academical.ly is the perfect platform for all your online teaching woes. We help you monetize your expertise and expose your offering to the global market.
So, what are you waiting for? Start your Academical.ly journey now!