How to Monetize E-Learning Application
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The global quarantine has hit pretty much all niches and organizations - both commercial and non-commercial. All sorts of educational institutions now experience particular difficulties - the transition to remote classes has become a serious obstacle for schoolchildren and students eager to earn new knowledge. That’s why e-learning apps become especially relevant as a perfect self-learning solution.
Obviously, e-learning apps are at their peak of popularity right now. If you want to launch a project in the niche, you will probably be interested in the ways to monetize an educational app. Let’s discuss this.
Top 7 Ways to Make Big Money on Your E-Learning App
Here are some pro tips on how to monetize your e-learning app unobtrusively and effectively.
A paid subscription is one of the most obvious ways of e-learning application monetization. Application users get access to all training materials after they make a payment. In this case, access can be either limited or not limited in time.
To work well, your paid subscription needs to be proved by certified professionals in certain knowledge areas (popular teachers, coaches, for instance) or use material from verified data sources so that your potential users understand exactly what they are paying for.
Paid banner ads
One of the most commonly used strategies to monetize apps (not just educational type) is paid advertising. That is, you get revenue not from end users but from websites who want to place their advertisements on the pages of your application.
Note that this approach of e-learning application monetization is especially effective in functional (non-entertainment) applications where users are more likely to put up with banners in order to get a profit from training than in any mobile game.
With this online school monetization format, you separate the free and paid, premium functionality of your e-learning application. As a rule, the first category contains materials and lessons to obtain a basic level of knowledge, so that users can evaluate the quality of the e-learning content and its degree of informativity. More complex, premium paid features/resources will help users advance in training further.
As for the payment model, this is usually a one-time fee.
To monetize the learning platform, you can also create a store in your application for purchasing in-app goods (in the material and intellectual form) - it all depends on your business idea. You can sell anything - from merchandise (this would be relevant in an application with gamification elements - for example, in case of implementation of an electronic version of Hogwarts) to access to rare information sources or videos.
You can set up selling relevant products of your partners (however, you will first have to be puzzled by the search for these partners and the preparation of an attractive offer).
Paid marketplace offers
You can create a marketplace-like web space where other people and learning organizations can post their courses and information sources. This is a rather difficult learning platform format to implement, which, however, will provide you with a stable income.
It is important to understand that you will have to spend additional costs on promoting your e-learning solution (aimed not only at end users, but also at those who want to host their courses) so that as many potential customers as possible know about it.
Alternatively, for online school monetization, you can offer paid and free courses to your users. Typically, a certain course is delivered with some e-learning marketing campaign to make users genuinely want to pay for it. Usually, in this case, course owners use the "big names" of teachers or/and the knowledge sources, as well as promise to learn a certain discipline in the shortest time frames.
At the same time, the availability of free content (for example, in form of short educational videos) will help your app users assess the quality of offered courses, which means that you can earn positive reviews even not from targeted traffic.
Probably the most famous electronic knowledge platform - Wikipedia - prefers this one from other ways to monetize the educational project. And, we should say, it works quite well - in 2019, Amazon donated $1 million to the Wikipedia community. However, such methods are usually effective with large sponsors - if you are an ordinary consumer of such educational web content, you are unlikely to bother transferring money to someone.
Therefore, this e-learning app monetization approach opens up good opportunities for long-term prospects, when your training web resource has already gained some popularity and become interesting for major players in the media market.
Whichever you choose from the above e-learning app monetization options, being implemented correctly, it will help you recoup your investment in e-learning mobile app development in the first year after release. What does it mean - being implemented correctly? It is better to ask real experts - feel free to hit us up.
We can discuss all the details of the implementation of your business project based on our in-depth expertise in the niche. Visit our blog to get more info about our e-learning solutions.