What happens when you combine CEdMA‘s deep industry knowledge with CloudShare’s freshest data on training trends? Pure gold! 🌟 Our latest webinar, featuring CEdMA’s erudite expert Dirk Braune and CloudShare’s superstar CMO Annie Reiss, navigated the ever-shifting landscape of customer education and training, covering monetization, performance tracking, and technological enablement.
Here’s just a quick overview of the ground we covered.
Training’s Not Only About Training Anymore 🤹
Let’s start with a mind-blowing stat: 98% of organizations now charge for customer training in some form – that’s a massive jump from 78% four years ago!
But here’s the twist: education teams aren’t just about revving up revenues and pumping up profits (though those two are right at the top of their lists of objectives and incentives).
Today’s training teams are also juggling multiple mandates from across their organizations, from boosting product adoption to reducing support tickets and enabling partners. It’s good to be in demand. But are education teams being stretched too thin?
The Customer Journey: It’s All Connected 🔄
The latest data tells a fascinating story about priorities. While 32% of experts focus on customer onboarding, 34.5% prioritize retention, and 29.5% emphasize product adoption. It’s like a well-choreographed dance, with customer satisfaction (33%) as the rhythm keeping everything in sync.
Show Me the Metrics! 📊
Here’s where it gets really intriguing. Despite the industry-wide focus on revenue, there’s a huge untapped opportunity to better measure training’s impact. For example, only 14% of organizations compare revenue from product sales between trained and untrained customers.
But check this out: 47% of trained customers renew, compared to only 21% of untrained ones. Talk about a compelling case for training’s ROI!
Of course, success isn’t just about creating cosmic ☄️courses. You also need top-tier tools 🛠️.
Challenges? We’ve Got Those Too 😅
No sugar-coating here – there are still mountains to climb. The biggest headache? Integration between LMS and other training tools (35% of organizations struggle with this). Close behind is aligning training metrics with business metrics (34.5%). But hey, identifying the problem is half the solution, right?
Tech Stack Attack 🚀
Virtual classrooms are the undisputed champions, with 93% adoption (Teams, WebEx, and Zoom for the win!). LMS platforms come in second at 81.4%, while content development and training evaluation tools share third place at 74.42%. Virtual labs? They’re making waves with 67.44% adoption – and for good reason!
Speaking of Virtual Labs… 💻
They’re absolutely crushing it! CloudShare has seen class volume increase by 34% and user numbers grow by 44% over the past two years. Why? Because they’re not just about training anymore. From development and testing to sales demos and upsell, virtual labs have become the Swiss Army knife of software solutions!
The Self-Paced Learning Shift 🌃
And here’s a hot trend: 54.3% of CEd leaders are planning either to introduce or expand self-paced learning options. Though 37.5% are still on the fence, this signals a major shift in how we think about training delivery. The Netflix effect?
The Bottom Line 💵
The training landscape is evolving faster than ever, and organizations are getting super-sophisticated in how they balance accessibility with sustainability. And whether you’re just starting your training monetization journey or looking to optimize revenue from your existing programs, one thing’s clear: the future of training is dynamic, data-driven, and definitely dollar-driven!
Want to learn more? The full webinar recording is available on demand, and if you prefer a leisurely read to a listen, make sure you download the accompanying report. Because in the world of training and education, knowledge really is power – and it’s usually profit too! 🎉