Building a Profitable Training Business

Transcription

1 Building a Profitable Training Business Audio Options 1) Listen using your computer speakers or 2) Dial in on the phone: Toll Free: Phone Code:

2 Meet Your Presenters Tim Sosbe, Editorial Director, TrainingIndustry.com Tom Clancy Vice President, EMC Education Services Jim Recker GoToTraining Product Specialist, Citrix Online

3 Building a Profitable Training Business 10 Things To Think About Tom Clancy Vice President EMC Education Services

4 1. Building the right team Development, Delivery, Technology Support, Marketing, Product Sales, Education Sales, Operations, Services, Consumption, Finance, Compensation Executive Sponsor(s) Partners (selling, delivery, infrastructure) The right people with customer experience, all working toward the same goal, will be the difference between success and failure.

5 2. Building the right content right tied to curriculum paths tied to a business purpose targeted as high or low volume leveraged from/across audiences aligned to a strong certification program Talk with your customers to help determine what, why, and how they need training. Validating your assumptions goes a long way. Content is king.

6 3. Building a compelling value proposition Meeting a defined customer business need Quantifiable in training and business metrics Communicating value to the right people Training versus Certification Especially in today s environment, customers need a compelling reason to invest in your offering. Keep asking customers and yourself, why is this compelling?.

7 4. Collecting compelling data Traditional (4.x out of 5 rating, student days, etc.) Traditional Training Selling (attach rates, % revenue, % accounts) Advanced Selling o % s by geo down to the manager/individual o % top accounts o repeat customers o ASP s Independent Value Metrics o Service Impact o Correlation of Training to Revenue o Loyalty

8 5. Building... a customer friendly delivery model Blended; ILT, vilt, On-Sites, Distance, elearning, Streaming ILT, Labs with centralized infrastructure Scalable, globally Local contact Trends It s ILT-only is long gone. Customers have been demanding multiple modes of delivery for years. Give them what they want.

9 6. Building...support tools Portal Catalog ecommerce Value proposition / reference material Assessments (self and service offerings) Make it easy for your customer.

10 7. Building...a strong financial model High cost, high value content Low cost, high volume content Rationalized offering portfolio Know what is most important to your company. Revenue, profit, customer satisfaction, loyalty, sales leverage, service efficiency, global scalability

11 8. Building...partners Development Delivery Operations Sales Learning Partners vs. Product Partners Partners can be leveraged across the learning functions, geographies, or selectively. Knowing where your true customer value is will help determine where to work with partners.

12 9. Building...packages that resonate Training units common currency Defaults with product orders Global pricing model Subscriptions Lab time All customers have unique requirements. Packaging flexible offerings allow for higher customer satisfaction and repeat business.

13 10. And don t forget Localization Consumption Competition Macro-level market shift effects

14 The Business Case for Monetizing Training There is significant monetary value in the training and expertise that businesses offer to customers and partners. Many businesses currently provide training to customers and partners but relatively few charge for this training. Innovative organizations are leveraging their training offerings to expand their revenue opportunities and grow their business. For fee training, coupled with the low cost and expanded reach of virtual classroom delivery, can provide a valuable revenue stream for growing companies while enhancing the stickiness of their products and services

15 RevStream Live Virtual Classroom Price Track Market Collect PayPal Payment Processing

16 Key Functionality Reduce administrative time and effort with seamless integrated payment processing Collect fees using a variety of payment methods including: Credit / Debit cards PayPal accounts Automate payment confirmations Refund class fees Charge for your classes in different currencies

17 Organizer Sets Payment Amount

18 Organizer s View of Paid Registrants

19 Live demonstrations of GoToTraining are available!

20 How did we do? Fill out the survey that opens after you leave the webinar to share your thoughts.