Every business has three common goals – to sell more for more profits, to improve its efficiencies, and to abide by the relevant laws and regulations. As technology moves at a break-neck speed and transforms the world, many companies are embracing advanced training methodologies for its workforce to meet these goals.
According to a survey by LinkedIn from August 2019, 63% of organizations have spent more on eLearning than on instructor-led training sessions. But why are companies adopting e-learning as their preferred mode of training? Let us explore the positive impact that e-learning has on a business.
HOW IS E-LEARNING IMPROVING THE WAY BUSINESSES OPERATE?
There is no shortcut to success for a business. To be able to sell more and make the best out of your venture, you need productive employees who can work towards the unified goals of your organization.
Your workforce can be at their productive best only when they are equipped well with the right knowledge of your business processes.
Moreover, with technology turning tables, your employees need to be updated to tap the potential of the various tools of technology. This is where E-learning comes in to play a crucial role. Read on for more insights.
1. E-learning can help you sell more
Your company’s sales figures depend mostly on your firm’s marketing efforts and the sales techniques used by your employees. So unless you train the employees in sales techniques and knowledge of products and services, they will not be able to churn out more sales to increase your profit margins.
With e-learning modules on sales training effectiveness, your company can make sure that the sales teams understand your products thoroughly and are equipped with the required skills to close successful deals with customers.
E-learning can help you increase your sales in the following ways:
- Provisions for rapid product training – You can create courses to provide training to your staff about a new product that your company has launched.
- Access to a database with product details – You can design courses with relevant product knowledge to bring your sales personnel up to speed on the USPs of your product, thus helping them score over your contenders.
- Better reach to market dynamics – Technology has come up with several analytical tools that can help you understand the structure of the market you operate in. With e-learning, you can train your employees to use tools like Moz, BuzzSumo and Google Analytics to understand the technicalities and behavioral patterns of the customers.
Let us take a cue from Reebok, the global leader in the industry of athleisure and sports. The brand took to an e-learning course in a digital environment that resembled a typical classroom training.
In the training module, sales representatives were taught to ask customers the right questions to collect information that could help gather insights into their tastes and preferences. The course helped the salespeople develop the right skills required to interact with customers, thus boosting the sales volumes.
2. E-learning can lead to better efficiency
Every business can reduce its cost of production by increasing the effectiveness of its operations. With costs coming down, your profit margin is stretched, thus fetching you more revenue. Replacing old processes with revamped procedures and systems is the first step towards achieving the goal of increased business efficiency. But as your processes get an upgrade, it also becomes imperative that your workforce learns to deal with it.
E-learning can be used in such a scenario to train your employees to derive the maximum benefit out of the updated business versions. Here is how E-learning plays a vital role:
- E-learning extends relevant training that helps your workforce adapt and respond to modern changes.
- E-learning also facilitates self-paced learning. This means that you do not have to bear the brunt of providing manual training sessions, thus being able to cut down on costs.
Coca Cola, the FMCG mogul of the beverage industry, is mostly dependent on outsourcing raw materials for their range of soft-drinks from external suppliers and vendors. During its launch of spiced beverages, a few unsuccessful stock procurements brought into the light the inability of employees to ensure timely payments to suppliers using the current process. To solve this, the brand installed SAP-like software to facilitate the ‘Procure to Pay’ process.
But initially, the accounts department could not operate the software. So the brand used a software simulation course to train its employees to use SAP. The course improved the state of the internal procurement process, thus bringing in a better credit score for the company.
3. E-learning can help a company stay compliant
With the focus being on business ethics, it has become necessary to ensure that your company operates on the right side of the law by complying with all rules and regulations.
Since ethical breach can lead to legal issues, compliance training has become essential for employees to keep your brand reputation and goodwill intact.
Thanks to e-learning solutions for compliance training, you can now train a large number of employees in multiple languages effectively at minimal costs. Moreover, instructional e-learning strategies can take this mandatory training to the next level.
Let us take an example to understand this better. With an influx of academic services, it becomes difficult to understand the kind of educational assistance that is legal and the ones that are not.
This is why the paper writing brand Allessaywriter has taken up an e-course to impart compliance training to the academic paper writers involved where they are taught the extent of helping students in need.
Under the training module, plagiarism is a big no-no, even when a writer is using his/her writing in another similar assignment. Writers are also taught about maintaining confidentiality about the client’s details both online and offline, as per the company’s legal structure.
Like every gift of technology, E-learning has only good things in store for companies – something that can certainly speed up the tedious process of achieving business goals. E-learning impacts businesses and plays a vital role in their growth by aiding competitiveness and productivity.
Owing to e-learning courses, companies are translating knowledge into monetary gains at reduced development time and costs. E-learning adoption has also helped firms develop skills and remove inefficiencies that pose as detriments for a company’s success.
So what are you waiting for? Most organizations are using e-learning to reap the many benefits, and you should too. Here’s to the hope that your company tastes success soon!
Author Bio: John Mark is a soft-skills trainer in several B-schools and organizations across the country. He is also an online academic tutor for the assignment help site MyAssignmenthelp.com. In his free time, John invests time in his passion for writing insightful blogs.