We would like to bring your attention to a webinar we recently presented with one of our clients, Fitch Learning. The webinar, Choosing a Platform for Revenue-Generating Online Training, provides a succinct and understandable breakdown of when to develop a custom learning experience — such as those we create — versus relying solely on a traditional learning management system (LMS).
In doing so, it offers an inside peek into the look and functionality of a successful custom learning experience used for online learning that generates revenues and why minimum lovability is a stepping stone towards Online Learning 3.0.
Choosing the Right Partner for Minimum Lovability
The Fitch Learning sneak peek in the webinar is an excellent example of what it takes to create competitive external training that achieves both educational, revenue generation, and user satisfaction goals. The purpose of the project was to prepare students to pass the very ambitious Chartered Financial Analyst (CFA) exam, which posed a number of significant challenges, including a high volume of inherently dry material, the need for personalized paths through the course, and a short time frame.
As a revenue-generating course, students had to love it. So Fitch Learning had to determine how to develop the “minimum loveable product” that could be produced with the given time and resources.
The term “minimum lovable” is an interesting parameter. It echoes the software development term “minimal viable product” or MVP, which is the version with just enough working features to be attractive to early adopters. In fact, most online learning falls into this category; it works just well enough to get the job done — nothing more, nothing less.
But revenue-generating online learning must be considerably better than that if it is to achieve its objectives. How much better? That’s where the “minimum lovable” parameter comes in. A paid course in a competitive environment has to produce the kind of enthusiasm that prompts students to buy it (based on a demo or trial), complete it (another important metric) and recommend it to others.
Continuous Lovability
It’s worth pointing out that “minimum lovable” is a moving target. As technology becomes more sophisticated and student expectations rise with it, last year’s minimum loveable product can quickly begin to look outmoded. Keeping students engaged and enthused requires continuous improvement.
We’re pretty proud of the customer learning experience ExtensionEngine helped develop to meet Fitch Learning’s challenges — which we think is pretty darned lovable — and invite you to take a look by visiting a recording of the webinar. You’ll also get a better sense of when a customer learning experience like this one is the answer — and, just as important, when an LMS is the better choice.
Impressed? Contact us to see how we can create the “minimum lovable” custom learning experience for your next project.
Continue Reading: A lot of smart people are creating mediocre, or even bad, online learning programs. Here’s what we have to say about the latest developments in online learning to generate revenue and impact.