In 2020, the EdTech sector saw a growth of 30-35%, which by the end of 2021 is expected to be around 20-25%. This is great evidence of the fact that nowadays, a growing number of people prefer online learning, with paper textbooks and strict learning plans slowly falling into disuse.
Evaluate Product Demand
One of the main problems that the pandemic and the subsequent lockdowns have brought to the forefront is employees’ lack of relevant job-related skills, as well as a lack of practice-oriented learning at universities. As a result of this, a large number of people nowadays feel the need to undergo additional training – to either improve their hard skills, or work on their interpersonal, or soft, skills.
In 2019, a Learning House survey revealed that around 63% of 1500 students interviewed signed up for an online programme instead of a face-to-face one, the reason being that they are much easier to fit into one’s schedule while working part time, as well as much less damaging to one’s private life.
Create a Methodology
As a foundation, Lectera.com, an international online learning platform with presence in Africa, developed a unique methodology known as Fast Education. Aimed at providing concise information within the shortest time possible, this methodology focuses specifically on practical skills and how to apply them. With each course comprising a set amount of 10 to 15-minute long lessons, students can complete them without any external help as all materials and resources provided are very easy to use.
Nowadays, apart from standard courses Lectera also offers a number of more specific programmes such as Lectera Corp and Lectera Teens targeted at their corporate clients and younger users respectively, as well as the so-called Career Development Training which includes personal coaching. In 2021, Fast Education method received the international EdTech Breakthrough Award.
Identify Customer Gains
One of online learning platforms’ main appeals is their high accessibility, which allows the customers to use them wherever they are and at whatever time they like. Other advantages include their time efficiency which means that the time needed to complete one course ranges from a few hours to a few days only. Providing users with a number of useful sources and self-assessment materials, online learning platforms are also very cost-efficient as, unlike traditional institutions, they have no rent or wage costs to cover, thus allowing for lower course prices in general.
With Lectera’s average course price ranging from $10 to $250 depending on the amount of resources used, each course is available in five different languages, including English, Spanish, German, Russian and Hindi.
Face the Problem and Come up With Solutions
With Lectera’s release being originally scheduled for early May 2020, eventually the team had to postpone the event, focusing on redesigning its business model and reorganising the team’s work. One of the main challenges was the startup’s international launch which became impossible in the majority of the countries, apart from India and certain Spanish-speaking countries which managed to avoid full lockdowns. As for the rest of the countries, the team had no choice but to face the current situation, and work on alternative marketing and advertising campaigns that could be used there.
Evaluate the Outcomes
Unlike the majority of online learning platforms, Lectera.com has was always intended to go global. With its social media accounts available in English, Spanish, Russian and German, Lectera boasts a number of domestic and overseas offices, including those in Moscow, Dubai, and Miami. At launch, Lectera got around $2.1 million of investment funds; by the end of its first year in the market, it had an annual turnover of $5 million, with its customer base surpassing 180,000 people.
Though traditional university education might serve as a great platform for acquiring general knowledge and some basic skills. Still, one easy and quick way one can hone those skills before applying for a job, undergo additional training, or change their entire career path if needed is by using online learning platforms which offer a wide range of courses to fit every taste.