The corporate training industry is a large and growing industry. According to a report by Technavio, the global corporate training market size was valued at $355.94 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of over 9% from 2021 to 2025.
The growth of the corporate training industry can be attributed to several factors, including the increasing need for upskilling and reskilling employees to keep up with technological advancements, globalization, and changing work environments. Additionally, the COVID-19 pandemic has accelerated the need for remote training solutions, leading to an increased demand for digital learning platforms and virtual training programs.
The industry is highly fragmented, with a large number of players ranging from small businesses to large corporations.
Overall, the corporate training industry is a significant and growing market that offers opportunities for businesses that provide high-quality, customized training solutions to meet the evolving needs of today's workforce.
The Business Opportunity in Selling Corporate Training
Selling corporate training to clients can be a good revenue stream for several reasons:
High Demand
There is a high demand for corporate training as businesses understand the importance of investing in their employees' development. This presents an opportunity for companies that offer corporate training to meet the demand and generate revenue.
Recurring Revenue
Corporate training programs can be designed as a recurring revenue stream as companies may require regular training for their employees to keep up with industry changes and advancements.
Customization
Corporate training programs can be customized to meet the specific needs of each client, providing a more personalized and tailored solution. This can lead to higher customer satisfaction and repeat business.
Competitive Advantage
Providing high-quality corporate training programs can give a company a competitive advantage in the marketplace. Companies that invest in their employees' development are more likely to attract and retain top talent, which can contribute to the organization's success.
Upselling Opportunities
Corporate training programs can also lead to upselling opportunities. As companies see the value in investing in their employees' development, they may be more inclined to purchase additional training programs or services from the same provider.
Seven Steps to Start Selling Corporate Training
Here are the steps to start selling corporate training:
Identify your niche: Determine the area of expertise in which you can offer corporate training. This could be leadership, team building, communication, customer service, or any other area that aligns with your expertise.
Develop your training programs: Develop customized training programs based on the needs of your target clients. Conduct research to identify the most important skills and knowledge that employees in your target industry or niche require.
Set pricing and create proposals: Set pricing for your training programs based on your research and the value you provide. Create proposals that outline the specific training programs you offer, their benefits, and pricing.
Build your network: Build a network of potential clients by attending industry conferences, trade shows, and networking events. Develop relationships with decision-makers and human resource professionals who can help you connect with potential clients.
Market your training programs: Create marketing materials that promote your training programs and highlight their benefits. Utilize social media, email marketing, and other marketing channels to reach potential clients.
Deliver high-quality training: Deliver high-quality training programs that meet or exceed your clients' expectations. Use feedback from clients to improve your programs and develop long-term relationships.
Expand your offerings: As you gain experience and establish yourself in the market, consider expanding your offerings to include additional training programs or related services.
About LMS Portals
At LMS Portals, we provide our clients and partners with a SaaS-based, multi-tenant learning management system that allows you to launch a dedicated training environment (a portal) for each of your unique audiences.
The system includes an embedded SCORM-compliant course authoring tool that enables most anyone to build engaging courses quickly and easily.
We also offer a complete library of ready-made courses, covering most every aspect of corporate training and employee development.
If you choose to, you can create Learning Paths to deliver courses in a logical progression and add structure to your training program. The system also supports Virtual Instructor-Led Training (VILT) and provides tools for online coaching and social learning.
Together, these features make the LMS Portals platform the ideal solution for our corporate training sales partners.
Contact us today to get started or visit our Partner Program pages
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