Do you ever feel like you’re not sure if now is the right time to start or scale an e-Learning business?
In his inspiring speech at Impact Summit 2019, Kajabi president Jonathan Cronstedt (Jcron) put your fears to rest by discussing the state of the e-learning industry in 2019 and beyond!
Jcron explained why right now is the EXACT right time to start an e-learning business.
And why Kajabi is the right platform.
For those of you who don’t know before becoming President of Kajabi, Jcron worked with some of the biggest names in the industry from Joe Polish to Digital Marketer and has helped sell over 700 million dollars of digital products!
So he knows a little something about the subject of e-Learning!
Jcron started his speech by taking a look at some eye-opening statistics about the e-Learning industry.
Back in 2015, the e-Learning industry was estimated to be a 107 billion dollar industry, now just a few short years later e-learning is expected to grow to $325 billion dollars by 2025.
Self-directed e-learning like digital courses accounted for 46 Billion dollars of sales in 2016.
I think we can all agree that’s a giant industry!
There are also a variety of social media channels from Facebook to Tik-Tok that make it a breeze to promote courses and acquire new customers.
And over the next 5 years, we are going to see an influx of 4 billion new customers with purchasing power get access to high-speed broadband internet.
So if we have a massive industry, a plethora of channels, and an army of new customers, why is self-directed learning expected to be worth only 33.5 Billion in 2021?
Oversaturation and Devaluation.
The internet is on a mission to devalue your content.
And because the powers that be like Google are on a mission to devalue your content they are also on a mission to devalue your courses!
Udemy has basically said that your life’s work is only worth between $20- 50.
Less than you would spend on a nice dinner out.
And if that’s not bad enough, Masterclass lets you learn things from celebrities like learning to dance from Usher (click here for Jcron's demonstration) for just $89.
Information alone is no longer enough.
The future of this industry is not information, because no matter what you teach, that information is somewhere online.
The future of this industry is Transformation.
What is transformation?
Transformation is how quickly and easily you can get someone from their current state to their desired state.
While tech and tools will always change, transformation is timeless and cannot be devalued by Facebook, Google or torrents.
How do you deliver this transformation to your customers?
Through what we call:
Engaged education = An Online Course + Coaching + Community
Because he was speaking to a roomful of Kajabi course creators at Impact Summit, JCron skipped the course part, but you can read the step by step guide to creating courses online here.
One of the main stumbling blocks in the coaching process whether it’s in person or online is the welcome process.
If you have ever joined a coaching program before you know that most welcome processes leave a lot to be desired.
However, thanks to the automations in Kajabi you can create a process for welcoming your members that is both automated and high-touch.
We call it the 5-step perfect welcome process, here's how it works:
The 5-Step Perfect Welcome Process:
1. Congratulations. The first step is to celebrate your customer's decision to join your program. You want to make sure they know that you appreciate them and are excited for all the success they are about to have.
2. What to do next. After you congratulate your customers you want to tell them exactly what to do next in order to get the most value out of your coaching.
3. How to get help. Once you have told your customers what to do you want to tell them how they can get help if they have a problem or need some customer service.
4. The 10 most frequently asked questions. The 4th step of the perfect welcome process is to give your customers a list of the 10 most frequently asked questions about your coaching and your detailed answers.
5. Here’s how to connect with us and others. Finally, you want to let your customers know how to connect both with you and other members of your coaching program.
Do you see how that welcome process might be a little bit better and leave customers a little more satisfied?
Another great way to improve the quality of your coaching is through using Assessments
You can create a product that keeps becoming more valuable by using the assessments feature in Kajabi to ask your customers questions like:
- What was most impactful for you?
- What was most confusing for you?
- Was anything frustrating enough to make you want to quit?
- Should I know anything else to improve the experience?
While it might sting, the feedback you get from asking questions like this will be invaluable in making your products more valuable and creating new products in the future.
Now that you understand how to improve your coaching process, let's move on to the next part of engaged education, community.
An online community is a group of people with common interests who use the internet to connect and learn together.
We recently added the community feature to Kajabi, which means you can now create your own online communities in Kajabi.
Unlike a Facebook or Linkedin group with Kajabi, you own the community and the content.
You can make your community a product and charge a monthly fee for it, or you can include it as a free bonus with your online course.
Communities show your customers that they are not alone and help them connect with other like-minded individuals.
Communities also provide motivation, proof and show that what you teach has worked for other people.
But by far the most powerful thing that a community provides is accountability.
Here are a few statistics for you on accountability from the American Society of training and development:
- You are 42% more likely to achieve your dreams if you write them down making yourself more accountable.
- You have a 65% greater chance of completing a goal if you commit to it publicly and make yourself publicly accountable.
- You are 95% more likely to achieve your goal if you have a specific accountability appointment with a person you’ve committed to.
Can you see the power of community now?
Think you might want to encourage your members to publicly post their goals and get an accountability partner?
Now that you understand community, let's wrap everything up.
The powers that be online are conspiring to devalue your course and your content.
That’s not a conspiracy theory, it’s a fact.
But they can never devalue the transformation that you provide through the combination of an online course, coaching, and community that makes up engaged education.
In 2016 self-directed learning was a $46 billion industry but a dip is coming in the next couple of years.
Those e-learning businesses that remain focused on information will fail, while those who focus on engaged education will flourish.
These changes are coming whether you like them or not.
It’s up to you to decide which kind of business you want to create, one that is centered around information or one that is centered around transformation.
Make the decision to stop focusing solely on information and create an engaged education business with Kajabi!
Get started today with a free 14-day trial!