Have you ever felt spending on development of training content was a necessary ‘evil’? In the digital age, that assumption is widely changing as training is transforming from a cost center to a profit generating product.
Businesses, in general, are quick to spend money on new locations, services or products deemed profitable. And they’re also quick to cut costs whenever possible. That all makes sense, of course – but there’s a revenue stream your business is most likely missing and it’s right under your nose: MONETIZING your expertise.
Allow me to explain.
‘Training’ is traditionally considered a cost – and it’s undoubtedly a line item that your CFO would love to see reduced. Well, now you can change the line it sits in.
In the past few years, we have seen a change in market acceptance for high quality training content. It’s more than an acceptance, really – there’s a genuine demand for it. And your company could be supplying it.
Customers and end users are now willing to pay for training content that is intuitive, easy to use and accessible when and where they want it.
Case in point: Ask any law student preparing to take the Bar exam and they’ll tell you there are lots of free study aids available online. Why, then, has one app, BarMax, been able to pull in $1000 PER DOWNLOAD for its Bar prep package? Easy – the others are poorly produced, fragmented and painful to navigate and BarMax is the opposite.
Similarly, couldn’t YOUR business develop modular training content that is superior to free offerings currently available? Are there training needs that aren’t currently being met? Forget written manuals for equipment; most people dislike leafing through these. Consider creating visual and fully interactive modules. Wouldn’t your end users pay a few dollars more to access these items? And “a few dollars” adds up quickly when we’re talking about high volume of users.
Regular documentation like Technical Publications & Manuals can still ship as standard with the OEM’s products. Premium training apps that are visually interactive and are Portable, Scalable, Modular can sell as separate digital products. For more exposure they can be sold on a public store like Apple’s App Store or on a company’s website for privacy or security reasons.
The end result is win-win.
Now just a few years ago, these Operations and Maintenance-style lessons were difficult to teach digitally, following the ‘if there is no practice, there is no training’ adage. But today, Heartwood is working with top tier OEM’s and companies to produce 3D Interactive Training Apps that allow the user to virtually ‘Learn by Doing’ (via interactive gaming technology). And students can access these modular training apps anywhere, anytime on any platform – Web, PC, Mobile, and Tablets. It’s incredible really.
So the delivery platform is already there. All that’s needed is your knowledge – and a desire to monetize it before your competition does.
If you can change your approach to training, you can also transform “training” from a cost to a PROFIT. And you can start today by identifying areas of training expertise where your company specializes and has legacy knowledge.
The next step is packaging it in a way that will help it become a top line revenue generator, as a digital interactive product. How? Contact Us and our expert training app consultants can guide you on best practices!