In 2020, the e-learning market exceeded USD 250 billion, with a compound annual growth (CAGR) of more than 21% projected through 2027. This has significant implications for those working in the LMS space and those considering a career in the eLearning industry.
To capture a sizable portion of this lucrative market share and establish your dominance in your eLearning niche, there are some upgrades you must implement right away to reap the most significant benefits.
This article will help you understand;
- The benefits of upgrading your LMS.
- The reasons why you should upgrade your LMS.
- The packages and services that will help you boost your LMS.
- Lot’s more.
Let’s dive in together with 6 Reasons to Upgrade Your Learning Management System …
Benefits of Upgrading an LMS
You will not believe what you are living without when you are fully exposed to the new bread of learning management systems and their advantages to your business. Below are some of the irresistible benefits of upgrading your eLearning software.
Among the many reasons you should upgrade your LMS is to improve accessibility or the ease with which your LMS can be used.
What makes for a thriving eLearning business at this time is the level of accessibility it provides, which is especially important given that we live in a post-covid-19 world.
An accessibility-focused LMS gives its users multiple tools to help them learn more efficiently and comfortably. For example, in addition to the official website, your students or in-training employees should be able to access your eLearning content via mobile devices, online or offline, at any time and from any location.
If your current LMS does not support this much-needed benefit at this time, you should consider upgrading.
Uniqueness is an undeniable factor that everyone appreciates because it speaks directly to their values, beliefs, and desires. This is true for your eLearning business and your LMS in general.
A modern LMS also provides its users with an unlimited customization bandwidth to showcase their brand, beliefs, and values to those in their niche or looking for their products or services.
Your LMS should give you a lot of leeways when it comes to fine-tuning your eLearning business for maximum viability.
Currently, a well-rounded customizable LMS will allow you to change some aspects of your LMS, such as themes, analytics and reports, payment gateways, LMS administration, and so on.
Again, if your current LMS prevents you from taking advantage of this benefit, it’s a sign that you need to upgrade. For more information, check out our article Should LMS customization be avoided?
Whether you like it or not, people start businesses to make a profit while providing as much value to people as possible.
You must understand that a modern-day LMS cannot be compared to its predecessors, no matter how successful they were in the past. Today’s improved and optimized LMS is built to deal with the challenges and issues of the day.
A cutting-edge LMS will frequently include some marketing features to help your eLearning business maximize sales and profits. A modern LMS, for example, will consist of tools like email marketing capability out of the box to support maximum product sales. This feature was missing in the most recent LMS version, but it is now available.
Because of the lack of this feature, your business may be missing out on significant sales.
Scalability out of the box is another significant benefit of upgrading your LMS, among many others. However, you may be unaware of how important this feature is in the long run to build a profitable business.
Businesses can scale their LMS to more people and perform more things simultaneously thanks to the technology and plugin support built around newer LMSs.
Because of the dedicated plugin support, LMS owners, for example, can install SEO solutions that will expand their reach across the web. Again, credibility booster plugins such as ratings, reviews, and feedback plugins that will establish your eLearning business presence online. Also, it will serve as undeniable testimony that persuades your prospective students to buy your course. As a result, your profits will benefit.
You can see that the advantages of upgrading your LMS are limitless.
Six reasons to upgrade your learning management system
Your Learning Management System (LMS) is an essential tool for ensuring that your organization gets the most out of its learning and development initiatives. However, things can change, and the tools that once aided you can now be a hindrance. Here are the top reasons why you need to upgrade your LMS.
Tracking User Engagement
It’s unavoidable that you’ll need to keep track of the courses your students have taken and the levels of certification. You will also need to know how well your students progress through their courses. To gain access to this information, you need a tool to help you keep track of the data.
The configuration, that is, installing custom tools that make the process of understanding learner engagement a breeze, is the key to an effective assessment system within your LMS.
If you consider upgrading to a much better LMS, this is yet another criterion for you. For example, to see a complete transformation on your LMS, you can use the LearnDash Essential Add-On Pack for this matter.
Insufficient Functionality and Accessibility
Everything is evolving, especially as it has to do with learning and technology. This means your LMS must keep up with the trend. Because of the internet’s widespread, people no longer consume media and educational content in the same ways they used to. If your LMS does not support the most recent technological and eLearning trends, it negatively impacts your eLearning business.
Providing interactive content, leveraging video streaming, and incorporating gamification into your learning programs are all tried-and-true methods for improving learning outcomes and retention that take advantage of recent technological advancements.
Making your new LMS mobile-friendly and structuring your lessons for consumption on mobile platforms are also essential features that will improve the quality of the learning experience you provide.
This is an important reason you need to upgrade your LMS to provide your users with this experience.
Poor User Interface and Design
If your LMS is difficult to use, it is also causing a challenging learning experience for your students or in-training employees. Users’ emotional reaction when interacting with your LMS is user experience (UX). Your User Interface is one of the most critical factors influencing UX. Nobody will look forward to using your LMS if using and navigating through your system is confusing, time-consuming, or off-putting, even if you provide content that people are genuinely interested in.
Always ensure that you can quickly implement a responsive and intuitive experience for your users, making learning, teaching, and even administration a breeze. Check out our top-notch eLearning theme that is causing a stir on the internet.
Poor Customer Support
When faced with technical challenges, your LMS should provide you with an easy way to overcome them. Look elsewhere if an LMS provider cannot provide you with 99 percent uptime, quick and effective customer service, implementation, and migration services.
The reputation of any provider’s support team may be the most important factor to consider because these are the people who will assist you if something goes wrong. Your LMS is a significant investment as the foundation of your eLearning business, so you must ensure that there are experts on hand to ensure that all of your needs are met.
The Cost Factor
Your LMS should contribute to your ROI rather than detract from it. Whether it’s cost overruns due to expansion, expensive support tickets, or exorbitant licensing fees, an LMS should never drain your budget.
Make a careful assessment of how much a proprietary LMS will cost your user base, both now and in the future. For example, consider how much it will cost to expand functionality, whether major updates will necessitate additional fees, and how the growth of users, courses, and so on will affect your bottom line.
While there are thousands of proprietary LMS options on the market, using an open-source solution like LearnDash or Moodle is one of the best ways to cut costs.
Ineffective Reporting Tools
Learning management systems generate mountains of data, which is essential for creating the best possible learning experience. Unfortunately, many platforms lack the reporting functionality required that you leverage learning analytics insights on how to optimize your learning and training processes. This means you’ll manually compile data from various sources, format spreadsheets, and spend hours doing tedious data entry for substandard reporting results.
One universal similarity of LMS software is the volume of data it generates, which is critical for creating the best possible learning experience. Sadly, many LMS platforms lack the reporting functionality required to fully leverage learning analytics benefits for insights into how to optimize your learning and training processes. Instead, you’ll have to manually compile data from various sources, format spreadsheets, and spend hours doing tedious data entry for subpar reporting results.
You should be able to use your learning analytics to provide a better eLearning experience by combining data from all integrated systems, not just your LMS.
Making data-driven decisions for your eLearning business is a time-proven way to improve the effectiveness and cost of your LMS program.
We hope that the knowledge you’ve gained will assist you in making an informed decision as you upgrade to a brand-new LMS.
Stay safe until next time!