Monetize Your Knowledge: Decoding the Online Course Market
The online course marketspace is booming! From professional development to creative hobbies, people are turning to online learning to expand their skillsets including with relevant soft- and hard skills to be successful in the AI-powered economy. Hybrid working and working online from home and as digital nomad:
But for active or new online entrepreneurs after the democratization of AI started, navigating the diverse landscape of the online course market can be tricky. This blog post will equip you with the knowledge to choose the perfect online platform to make money online with your relevant knowledge and expertise with different types of online courses.
University Cred or Corporate Climb? Tailoring Your Online Course to the Right People
The first step is understanding your ideal student. Are you targeting ambitious professionals seeking career advancement? Or perhaps your online course aligns perfectly with existing university curricula. Here’s a breakdown of popular online markets:
- Business Schools & Universities: Established institutions prioritize accredited programs and faculty expertise. Selling here involves a direct approach to the institution, highlighting the academic rigor and alignment with their curriculum.
- Corporate E-Learning: Corporations seek to train employees on specific skills and have been doing that for decades including in banking since 1985. Direct sales or partnerships with Learning Management Systems (LMS) or with companies providing online courses were and are common strategies. Market your online course’s effectiveness in boosting employee performance and cost-efficiency in terms of time, money and energy compared to traditional instructor-led training.
The Online Platform Playground: OLPs vs. Going Solo
- Online Learning Platforms (OLPs) like Udemy & Skillshare: These traditional online platforms cater to a broad audience seeking self-paced learning. They handle transactions and take a commission, making them easy to enter. To succeed, optimize your course listing for searchability and utilize platform tools to engage with potential students.
- Your Own Online Learning Platform: This offers complete control over branding, pricing, and student experience. However, it requires building e-commerce functionality and managing transactions directly. Leverage your website, email marketing, and social media presence to attract students to your platform.
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- AI-Powered Online Learning Platforms (AIOLPs): These online learning platforms are essentially new or existing online learning platforms that leverage artificial intelligence (AI) to personalize the learning experience for users. They use features like machine learning, natural language processing, and data-driven insights to adapt content, pace, and recommendations to individual learners’ needs.
Choosing Your Online Course’s Perfect Home
The ideal online niche depends on your relevant knowledge and experience, your target audience in the right digital blue ocean and your digital blue ocean business strategy. Here are some additional factors to consider:
- Learning Objectives: people with a fixed job working at corporates and in government often want/need a diploma and/or a certificate at the end of the program whereas we entrepreneurs need to be able to learn how to do thing quick in order to survive and thrive in the AI-powered economy after 2022 for instance.
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- Complexity: Highly specialized courses with a diploma or certificate at the end might be better suited for corporate businesses, business schools or universitieswhile broader topics could thrive on OLPs.
- Target Audience: Identify what relevant knowledge and experience you have according to others that could match the needs and wants of specific client groups.
- People & Resources: Building your own online platform requires people, money and time compared to joining established online platforms. However online competition is fierce on the large traditional online platforms. There is an online shakeout going on. Inlcluding in different types of online learning including different types of online courses.
By understanding the unique characteristics of each online market, each online niche, better: each digital blue ocean, you can make an informed decision and design and launch diferent types of online courses on different online platform(s) that best position you and your specific customers for success.
So, start sharing your own relevant knowledge and experience in different types of online courses. Identify your ideal customers in your own digital blue oceans, and get ready to share your relevant knowledge & experience with the right people locally, regionally or globally in your own new AI-powered business model.
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If you want to follow one or more modules from the virtual program at The Online Course School with your company or virtual team, precious time, energy and money, contact us here today and we wil contact you for an free intake call and provide a quote:
