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Top Strategies for Assessing the ROI of Online Learning

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If you’re in the process of adopting a learning management system, or switching to a new solution, there’s a good chance you need a clear way to prove the return on investment (ROI), and business impact of your technology. This webinar will help you assess how well the solution you’re considering aligns with your organization’s goals and requirements. Plus, you’ll discover how you can effectively measure the business impact of your LMS solution, and receive actionable tips to help you maximize the value from your LMS investment.

Take a look at the presentation to learn how to:
- Measure the business impact and ROI of Learning Management Systems against face-to-face training, and online video training
- Identify features and functionality that will allow you to maximize your ROI
- Important factors to consider when selecting an LMS, beyond the cost

Published in: Education
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Top Strategies for Assessing the ROI of Online Learning

  1. 1. Top Strategies for Assessing the ROI of Online Learning James Nicolson & Nimritta Parmar E M P O W E R T A L E N T
  2. 2. James Nicolson LMS Sales Engineer Nimritta Parmar LMS Marketing Coordinator Your Hosts
  3. 3. House Keeping
  4. 4. Totara & Moodle are 80% more cost effective Managed cloud hosting reduces your IT operating costs by more than 40% Over 12 years of experience and 600 customer implementations We Reduce the Cost of eLearning
  5. 5. You’re in Good Company
  6. 6. Today’s Topics 1. Calculating ROI • Classroom-based training • Webinar training • LMS (Open Source vs. Proprietary) 2. Tips for Maximizing Your ROI
  7. 7. How are you currently conducting training? – Face-to-face – Web-conferencing sessions – Proprietary platform – Open source LMS Poll Question
  8. 8. Measure the costs and benefits of training through the particular method you are using Costs – course development, course materials, registration, staff, promotions, facility, equipment, evaluation. Savings & Benefits – improved performance, increased productivity, decreased labour, income generation Calculating ROI: Step 1
  9. 9. Calculate how long it takes before the benefits outweigh the costs Also known as the “Payback Period” – how long before training pays for itself? Payback period = costs/monthly benefits X Number of months Calculating ROI: Step 2
  10. 10. Other outcomes to measure and consider: • Engagement and Reaction • Learning & Retention • Application, Behaviour & Learner Response • Impact on Business ROI isn’t always monetary
  11. 11. Do you currently have a method for calculating ROI? – Yes, and it’s effective – Yes, but we need more insight – No, we do not Poll Question:
  12. 12. Costs of Learning
  13. 13. • How many people do you train per year? • What is the average cost of each course? 1. Costs of Classroom-based learning Real-time training cost considerations: • Do you pay people to travel to courses? • Do they require accommodation? • What is the annual cost for an LMS?
  14. 14. … Compare to Online Learning • Lower training costs • Train more learners, more effectively • Doesn’t need to be in real time • Deliver consistent training • No cost of travel/accommodations
  15. 15. Example: Webinar-based Training Webinar-based training.. • Online – reduces the cost of learning • Recorded – reach a large audience with one piece of learning material • Low cost - services accommodating 100+ participants for a monthly fee between $50-$100
  16. 16. Example: Webinar-based training Webinar cost considerations: • How much time and money is invested in developing a webinar • How long are your webinar presentations? • How engaged are your students? • How effective are full courses delivered in a webinar format? • Can you re-use this presentation, or is it a one- time use?
  17. 17. Now, why an LMS? • Students can manage their own schedules • Access sophisticated administrative functions – Compliance tracking, certifications, HR functionalities, performance management, 360 reviews More effectively train learners, and better track learning
  18. 18. Open Source LMS or Proprietary LMS Fundamental ROI question: If you’re considering a new LMS, are you interested in paying a license fee per user, or on a perpetual basis?
  19. 19. Freely Distributed Easy to Move Larger User Community First of all, what is Open Source
  20. 20. Open Source LMS vs. Proprietary LMS Proprietary LMS • Licensing fee per user • Single support channel • Vendor driven development • Sole, proprietary vendor and platform. • Locked In • May or may not include upgrades Open Source LMS • Free/minimal licensing fee required • Community Drive • Extensive Functionality • Extensive Partner Community • No lock-in • Upgrades/New features don’t cost extra - No hidden costs
  21. 21. Open Source LMS vs. Proprietary LMS Considerations beyond the cost… • Risk of disruption • Community of open source • User-friendly
  22. 22. Open Source Services • Hosting • Training • Customization • Support • Theming • Reporting/Analytics • X no licensing (image), and no lock in
  23. 23. • Run as many courses as you like • Onboard new employees more effectively • Other cost and times savings • Streamline course registration • Leverage 3rd party tools Benefits of Open Source LMS
  24. 24. 1. Be transparent – Communicate the value of the LMS 2. Make sure your LMS is easy to use 3. Get the right support from your vendor 4. Use data and analytics to track learner progress, and learning outcomes Tips for Maximizing Your LMS ROI
  25. 25. Questions? Ask Away!
  26. 26. • Resources will be sent out in our follow-up email • PowerPoint • Recording • Learning resources we discussed Next Steps
  27. 27. TOLL FREE +1.877.700.1118 EMAIL SALES@LAMBDASOLUTIONS.NET WWW LAMBDASOLUTIONS.NET

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