Why online courses work better than live events

online courses Apr 13, 2020

Why Online courses work better than live events.

Better for the attendees and audiences

Online courses can have a deeper impact on people’s lives than attending a one-day workshop, where a lot of the theory and the amount of content goes over people’s heads. Most one-day courses are about 4-5 hours of content. People forget up to 90% of the content if it is not recalled more than once.

 

Most people leave the event or classroom and are immediately consumed with travelling plans and checking messages and emails and never get the course material or their notes out again. Therefore 70% forget the material within 24 hours and after one week it rises to 90%[1]. Most experts want to transform people’s lives, they want their mentees to get results. Your online course can have a deeper impact than a 60-minute keynote speech. You can build in repetition in your course to help your students learn your content.

 

Many offline courses struggle to retain students through the course. The Research Institute of America found that this is not the case with E-Learning. Online courses have increased student retention rates from anything from 25% to 60%[2].

 

And added to that, IBM found that participants learn five times more material in online learning courses using multimedia content than in traditional face to face courses[3].

 

Better for you

I have run live events and I find that typically only 20% of the room buy any upsell or further programmes with us and so the customer lifetime value (LTV) is low. If we sell someone an online course, then these people have a much higher LTV. They naturally buy more from us because they have spent more meaningful time with us and there has been an impact (or at least some beneficial learning) in their lives from the information they have learnt.

 

If you are an expert, keynote speaker, consultant, influencer, thought leader or trainer you probably have to travel around the country to give your talks. This costs time and money. You have to fit in with other events and arrangements. Online courses have transformed my business and helped reach a huge geographical customer database and are more scalable in my business than anything else I can do.

 

As more and more former employees become freelancers and join the self-employment game, the more skills are required. There is now a new requirement of “lifelong learning”. This skilling-up is crucial to evolving working environments. As the technology and tools we use every day get better, so do the skills that we need to use them.

Lifelong learning is now crucial to continued business success. 

The growth of online learning fact box

  • 50% of subject knowledge acquired during the first year of a four-year technical degree is outdated by the time students graduate, according to one popular estimate[4].
  • More than 33%, or a third, of the desired core skill sets of most occupations will be comprised of skills that are not yet considered crucial to the job today[5].
  • According to statistics from Coursera, online learners were at 10 million in 2014 and had trebled to 30 million in 2017.
  • E-Learning is forecast to grow by over 20% annually. According to Forbes, the E-Learning market was $107 billion in 2015 and is expected to reach $325 billion by 2025[6]. The key factors that are favouring the market growth are: flexibility in learning, low cost, easy accessibility, increased effectiveness by animated learning.
  • 300 hours of video are uploaded to YouTube every minute with users watching 5 billion hours of YouTube videos each day[7].
  • Ted talks have over 13 million subscribers on YouTube at the time of writing this book, with very high growth rates.
  • 70% of millennial YouTube users have watched a video to learn how to do something[8].

 

SUMMARY

There is no reason why your training and work, cannot continue online, in fact there are many studies that demonstrate the better results for your audience. 

Embrace the change and get online. 

 

 

[1] Ebbinghaus Forgetting curve
[2] https://www.onlineeducation.com/guide
[3] Onlineedcuation.com
[4] http://reports.weforum.org/future-of-jobs-2016/skills-stability/#view/fn-13
[5] http://reports.weforum.org/future-of-jobs-2016/skills-stability/#view/fn-13
[6] https://www.forbes.com/
[7] https://merchdope.com/youtube-stats/
[8] https://blog.hootsuite.com/youtube-stats-marketers

 

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