Improve ROI with LMS reporting
Training companies rely on LMS reports that go beyond traditional training parameters. Your weekly checklist depends on your business model. Those who offer content packages or develop custom eLearning solutions should ensure that customers have relevant metrics. If you offer individual enrollment for students, LMS reporting must serve a dual function to track student progress and online sales. What LMS reports should you look for in your new LMS to train companies to improve returns? And what should you include in your online training package so that clients have the analytical knowledge they need?
1. Student commitment
From a training company's point of view, LMS student engagement reports help you identify areas of concern, such as low-performing online training courses or activities that may affect your online training course sales. Low participation scores generally indicate a problem with design or real-world value. This negatively affects students' online training experience and makes them rethink future enrollments. Student engagement metrics are also crucial for your clients. They use these numbers to measure the effectiveness of online training and ensure that employees actively participate in the program, as well as measure the popularity of certain support activities or tools to improve personalization.
2. Rates and completion times
How many online students complete the online training course and how long does it take? Completion rates give your training company a better idea of how students are doing online or if they need additional support to achieve online training goals. But you can also use these statistics to set the ideal level of difficulty. Fast completion time means online training content is too easy, while slow time tells you that online students are struggling. The key is to make them feel challenged without causing excessive stress. Customers can also view these metrics on their LMS leasing portals to track employee progress.
3. Results of the online training evaluation
Online training assessment scores aren't everything. However, they help you improve your online training strategy and identify gaps. For example, a high percentage of users do not pass the certification exam. This indicates a widespread problem with the online training content or the design of the eLearning course. Even if they can retake the online training assessment, students may feel "cheated" because they did not understand the conclusions. To curb dropouts and increase repeat business, you can offer follow-up support eLearning tools to close knowledge gaps. You can also take a closer look at the curriculum to determine what is missing.
4. Online sales and conversions
Online sales statistics and conversion rates relate to the e-commerce features of an LMS for training companies. You can see how many sales you had during a certain period of time and where these benefits come from. Conversions reveal how many site visitors became paid customers. For example, only 10% of your landing page traffic was enrolled in the online training course. Take a closer look at calls to action, design elements, and promotional content to identify the sales hurdle. Maybe the language is too strong and visitors feel like they are being pushed into a sale. Or the aesthetic is too crowded and doesn't appeal to your target audience.
5. Registration of users and registrations
These LMS reports focus on how many users signed up for their online training course during a given period and how they signed up. For example, they signed up for their customer service upgrade course through the LMS home page. As such, you know that they are repeat students and that your link promotion is working. These metrics are also useful for events, such as live webinars or workshops. Track how many people responded and who has already paid so you can follow up if necessary.
6. Satisfaction scores
Dissatisfied online students or customers, or customers' students, have the power to wreak havoc on their profit margin. LMS Satisfaction Score Reports summarize how users feel about the online training course, online instructors, and your business. Take surveys or polls, then use the LMS to compile and evaluate the results. Another application is to collect eLearning feedback from customers about your products and services to measure their level of satisfaction. For example, they may not be happy with the new pricing structure or grouping options. Therefore, you may need to go back to the drawing board and create more flexible packages based on your requirements and expectations.
7. Click metrics
Which marketing resources generate the most sales? It's not about how many site visitors or social media followers you have. What really matters is the click rate. These metrics let you know which promotional efforts are working and which are a waste of time and money. For example, an industry expert included the link to your sales page in your latest guide or article online. It may appear on your new list of the Top 10 Online Training Courses. This led to an increase in click stats. Therefore, you may consider adding them to the affiliate list or pairing for future marketing campaigns. Click LMS reports are also useful for internal traffic. You can determine how many people reacted to the call to action on your LMS home page or signed up for the next live event through ongoing links.
There are a few other reporting features to consider when looking for your next LMS training company. These advanced features maximize metrics and help you track trends to improve ROI, such as customizable reports to align analytics with your KPIs, visualizations to make sense of statistics, and scheduling tools that automate the process to ensure you never lose data. crucial sales. These are also benefits that you can add to your customer packages to sweeten the deal and increase repeat business. A cost-effective way to test reporting features before you buy is a free trial. But you must first read the online reviews to see which platforms deserve a test drive. Users can mention the lack of customization options or sales tracking tools in the pros / cons.
Finding the ideal LMS for your organization is a must when you need to employ an effective online training strategy with maximum ROI. Building Your Brand eLearning 101 eBook: Tips for Choosing and Implementing an LMS for Training Firms that Exceeds Your Expectations will help you discover everything you need to know when opting for an LMS for Training Firms to achieve your business goals .