How To Measure The ROI of an LMS: Infographic
If content is King, then the Queen is your Learning Management System (LMS). Without a robust Queen, your King is essentially inaccessible and powerless. An LMS is the gatekeeper to all that good content your team has built or wants to build. So what is an LMS, and what can it do for your company?
An LMS is a technological platform to aid in the training and development of a business team. With features like anytime, anywhere training access, LMSs have become the standard in good training and development for sales teams the world over.
They allow companies to track and manage key aspects of training, such as identifying areas of weakness and funneling just-in-time information to those in the field.
Though every LMS has different features, they universally have a space where business teams can access course content, take quizzes, and track a team member’s educational journey. So with the ubiquity of LMSs, how do you determine what you need?
Determining What You Need from an LMS
The biggest decision you can make in training is determining how that training will be delivered. LMSs offer you the option of anytime, anywhere course access, which is critical for on-the-go sales teams. Figuring this out is simple. What’s not simple is being confronted with all the bells and whistles of various LMSs and not knowing what you really need. Here’s a step-by-step guide to help you determine what will be most useful to your team:
- Look at your business goals. That’s right, every aspect of your training should roll up to your business goals, and that includes what features you have in your LMS. If your LMS isn’t collecting the data you need to track whether your team is meeting goals, then it’s not fulfilling your mission. In fact, it’ll feel like your LMS is consistently coming up short because it is.
- Look at your training needs. Who will you be training? How many people will be training? What departments? Will you be primarily focusing on in-person training, and using the LMS platform for testing and sustainment? Will all learning go through the LMS? Are there webinar components to be tracked? Will you track attendance, quiz grades, and pass/fail rates? There’s a lot to consider. If you answer these questions up front, your search will be laser focused.
- Examine the features of various LMSs. That’s right, take a good, long look at the different features of various LMSs like Spoke. You will find nuances in how quizzes can be scored, reporting features, and in pricing. Align your training needs with the features of the LMS you ultimately choose, so you can maximize your company’s training efforts.
- Consider customer service. If you’re looking for a platform that will be managed outside your company, you need to strongly consider customer service. There is nothing more frustrating than when you need help meeting a reporting deadline, and the hosting service is unavailable or slow to respond. We recommend being diligent and reading service reviews for each LMS service you are considering.
Download this free step-by-step guide to uncover your unique needs and choose the best LMS for your organization.
What's in the guide:
- The business case for a great LMS and great training
- 5 steps to choosing an LMS the right way, whether it’s your first or you’re making the switch
- How to separate must-have features from the nice-to-haves
- 5 questions to ask every LMS provider
Follow these easy steps & make your next purchase with confidence: