Convert L&D to 'Recurring Revenue' Business

Conference Archive

Learning Solutions Conference & Expo 2022 - April 22, 2022

Marjan BradeŇ°ko

Director, Conscia Center of Excellence
NIL

Recurring revenue and returning customers have been focus areas in business, especially recently with many services moving to the cloud. Maintaining great relationship with a customer (through subscription services) is a foundation for ongoing success. Why wouldn`t learning and development leaders apply similar principles to their business, even internally? Some offer subscription-like services successfully, yet there are many solutions from traditional business lifecycles and from customer experience that can improve the use, adoption, renewals, and upselling of your learning solutions. Do you collect enough data on your platform so that you know the needs of the learners? Do you engage the learners so that they are an active part of your business? Why wouldn`t you simply approach the learners the same way sales people approach their customers?

In this session, you will learn how to transfer the principles of sales lifecycle and customer experience into learning and development business. Any learning solution you offer to your (internal) audience has to be "purchased" first, yet that does not necessary lead to success. By helping your learners "adopt" the solution, become enthusiastic about it, and subsequently convert your learners into ambassadors of your solution, you open the path to long-term relationships. Instead of onboarding new learners, you deal with the engaged "returning customer" whom you know well. They also become your extended arm in expanding your learner base. By applying sales lifecycle principles in L&D, you also establish a great feedback loop that helps you "upsell" to your learners. By keeping your learners on a common platform with learning communities and their ambassadors, and organizing "virtual coffees"and similar relationship-building events with your learners, you establish a collaborative learning environment that minimizes your efforts. Add solid data collection on top of learner relationships, and you maximize the value of L&D business. You essentially convert the L&D business into a "recurring revenue" type of business.

In this session, you will learn:

  • Why traditional and modern sales lifecycle principles can pave the road to success in L&D business
  • How can you increase the adoption of your learning solution and make users the ambassadors of your solution
  • Which approaches to building learner relationship lead to retention of your learners
  • How you can build vibrant learner communities
  • Why looking at L&D from the perspective of "recurring revenue business" maximizes the value of L&D

Technology discussed:

Learning plaftorm(s)

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