Suppose you are working with limited resources and a new system requiring investment, including ongoing maintenance. You might want to consider using LMS for your nonprofit organization. You may be unsure if you will be able to pull up a good business strategy. Getting a Learning
Management System can help maintain your talented employees and it can also lower down the cost of your current Learning and Development costs. An ideal LMS can help your non-profit leverage online and mobile learning platforms to generate & increase revenue. Here are a few tips for using an LMS to increase the revenue of your non-profits.
Plan for Purchase Training
Research suggests that 9 percent of nonprofits use their LMS to offer continued education, which can be a viable means to increase non-dues income. Leveraging your non profit LMS to raise non-dues income is an effective way to make money, significantly for smaller nonprofits. To increase revenue that is not related to dues, an excellent idea is to use your LMS to create training courses to promote a public audience. By creating online education courses and webinars and making them available for purchase to non-profits, their members, and other organizations, nonprofits can make more money while also improving their bottom line. With the continuous steady demand for skilful workers everywhere for any industry, businesses are also requiring a system that is enabling them to handle a massive group of trainees who can take the lessons online, in the convenience of their own spaces.. A Learning Management System gives the organization an automated learning process that is both interactive for the learner and educators and also provides an interface that is intuitive.
Offer Fundraising Training for Staff
It is very intimidating to ask people for money, so it is essential to create eLearning courses that include scripts to impart customer service and sales skills. Training employees in fundraising can help an association boost revenue. It is imperative to determine your association’s fundraising needs and then assess its current and past fundraising performance before designing a successful fundraising training program for your employees. Making a topic as complex as fundraising and engaging learners can be a tedious task but essential. One way to build a more effective fundraising training program is to keep content very specific after laying the foundation of fundraising best practices. It is best to consider selling your fundraising training courses to other nonprofits to foster even more income.
Improve communications with the donors
It is difficult for non-profits to survive without regular donations, so maintaining a solid relationship with donors should be the top priority for organizational leaders. Non-profits can improve rapport with donors by facilitating excellent communication via a non-profit learning platform. Personalizing emails is one great way to increase more effective communication with donors. Researches reveal that personalized email delivers six times higher transaction rates than regular email, implying a 760 percent rise in revenue from segmented campaigns. Targeted emails generate 58 percent of all income. Using your LMS to create online communities where donors can interact on discussion forums, and share resources and knowledge can also help. By paying attention to your donors’ discussion on what the things that they care about, and the training they are attending in can help create personalized emails that get better results.
Conclusion
To conclude, there are two significant ways that your LMS can help you increase revenues. The first is that you must train your team more effectively by equipping them with all the knowledge and skills they need to acquire more donations. The second way to boost profit is to enhance the team’s capability to promote and sell your learning resources online. A lot of Learning Management Systems have good features when it comes to ecommerce that help package your content and sell it to the public or other organizations that need online training resources for their staff members. Thus, you get an extra source of income, enabling you to achieve your goals more swiftly.
