How Direct Marketers Can Monetize Fee-Based Online Training to Customers
Training and development is not only important in helping marketers sharpen their current skills and knowledge, but also in adapting to new technologies, channels and processes. As we emerge from the recession and hiring increases, training will become even more important as today's direct marketers are expected to be promotion and sales experts.
Fortunately, recent technology advances make it easy to deliver training conveniently and cost-effectively online, or through blended sessions that combine online and in-person techniques. As a result, training programs can reach more people at once, anywhere in the world, to drive greater sales opportunities. Online training also brings a wonderful new advantage for marketers: the ability to create a new revenue stream by offering external partners fee-based training sessions. With new economies of scale and automated processes, marketers can easily monetize training programs to prospects, CRM partners or vertical market specialists.
There are, of course, some key components of delivering fee-based training. These include publishing and marketing classes, scheduling and registration, payment processing, collection and tracking, list maintenance, content delivery, assessment, and possibly even certifications. Start by determining the capabilities you need and look for online training programs that can automate many of them.
One critical challenge is to minimize manual processing of payments, as this can become a significant drain on resources and productivity. Look for a solution that offers automated billing and payment processing of online training fees. This is typically provided by linking a separate payment system with an existing online training platform. However, new integrated systems are available that make monetization a seamless, easy process for marketers.
Integrated systems with built-in payment processing make delivering training as easy as possible. There is no need to manually administer registrations and payments. Everything is online and automated, from pricing to marketing to payment collection and, of course, to tracking income. Marketers can then stay productive and focused on their business. More importantly, a new revenue stream can help increase the bottom line and build even more value from training programs.