You know that online training is the best bet for your company. But now it’s time to convince your upper management and other relevant stakeholders. In this article, we share 8 tips to create a successful business case for online training.
Moving from traditional to online training brings a lot of cost-effective benefits. For example, it can help you provide support resources to your team. It also lets you divide resources in a smarter way. Other benefits include faster turnaround times and better reporting and tracking capabilities.
But you still need to prove to stakeholders that online training is a sound investment.
So, here are 8 ways to create successful business cases for online training.
1. Pinpoint the current pain points
Even the most successful organizations have pain points they need to address. When creating case studies in online training, these pain points can become your trump cards. They’re the gaps that your current training strategy overlooks and your new LMS can help you fill.
To see what’s lacking from your on-site training program run a training needs analysis. This will also show how these gaps are impacting your company’s bottom line.
2. Stress the benefits of online training
Once you’ve figured out what’s missing from your traditional training strategy, stress the benefits of online training.
For example, you can mention how learning technologies give staff the ability to use ‘moment of need’ support training resources. Or, argue how staff can learn about new products, and even brush up on their negotiation skills.
While you should avoid exaggerations, estimations are perfectly fine. For instance, estimate how much you can increase your quarterly sales once you implement online training.
3. Focus on productivity and profits
It all boils down to the profit margin.
Focus on the impact online training will have on employee productivity and performance, as well as the cost-saving benefits compared to traditional training. In fact, you may want to outline how much you’ll save by making the switch and how a boost in productivity translates into larger profits.
For example, online training eliminates on-site, physical instruction and site rental fees. For example, training seat time will be reduced by 75%, which means that employees will spend more time in the workplace, and ultimately more time working.
As a result, your sales figures have the potential to skyrocket while employee turnover rates bottom out.
4. Play devil’s advocate (with a twist)
It’s always good to explore both sides of the proverbial coin and play devil’s advocate from time to time.
When making your business case, outline the risks involved, and what you will do to avoid them. Be specific. Whether it’s delayed launch dates or hidden costs sending you over your LMS budget, make sure you provide a detailed plan of action. Your stakeholders will want to know how you plan to reduce the risks and keep your implementation timeline on track.
If you don’t, the challenges may scare them off before they have a chance to weigh the advantages of online training.
5. Explore the inner workings of your LMS implementation strategy
Stakeholders don’t want any surprises or ambiguities when they’re investing in an online training program.
They need to know what’s involved in every step of the process and which protocols you have in place. Highlight your entire LMS implementation strategy from start to finish, including how you’ll select the right tools and the team members involved.
Give time and cost estimates so that they know what to expect. Doing so also helps those who are still unfamiliar with the process to demystify online training.
6. Highlight the tools of the L&D trade
In addition to timelines, you should also specify which tools you need to turn your online training program into a success.
This includes Learning Management Systems, eLearning authoring tools, and possibly even video conferencing software. Clarify why each tool is necessary and how it will help the organization achieve its goals.
Now is also a good time to disclose initial and ongoing costs relevant to each platform. For instance, how much will you need to spend to maintain the LMS for the first year?
7. Give them a glimpse of the competition’s online training strategy
If you know that the competition is already using learning technologies, give stakeholders a glimpse of how they’ve benefited by making the switch. For example, since your closest competition purchased their LMS, they’ve seen a 20% increase in profits.
You can also highlight what works in their online training strategy and apply it to your own, as well as pinpoint their areas for improvement to avoid the same mistakes.
8. Sum up the major takeaways
A business case in online training should conclude with a breakdown of the benefits it can bring to your organization. Include a brief recap of what it will cost, the implementation timeline, and which technologies are going to be involved. When they’re weighing pros and cons, stakeholders may not have the time to review your case study in depth.
A general overview serves as a reminder of how online training will positively impact the organization’s bottom line and on-the-job performance. You can also invite them to attend a live demo or take part in the LMS free trial when you believe it’s time to evaluate potential LMS solutions.
The key to successful case studies in online training is getting personal. Tie everything into your organization’s objectives and avoid generalities. Make the case that it’s the most effective way to bridge gaps and they’re bound to give their stamp of approval.
Over to you
What’s the point of an LMS if no one benefits from using it? Does your current LMS pass the test, or is it time to look for a new system that can deliver a better user experience?
Are you in search of an LMS that offers the best LMS user experience at a price you can afford? Download the free eBook The Complete Guide For Choosing A User-Friendly LMS That Fulfills Your Business Needs to find out why LMS User Experience really matters, the differences between LMS User Experience and usability, as well as the top quintessential traits of a user-friendly LMS.
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