Who Benefits From Your Extended Enterprise LMS
Most organizations ponder whether an extended enterprise LMS is right for them and their budget. However, there are a broad range of deployment options and pricing plans to choose from, which makes it a viable solution both for start-ups and Fortune 500 companies alike. Below are 10 people, in particular, who can benefit from an extended enterprise LMS.
1. Management
Extended enterprise LMS is highly beneficial to the management of an organization. It not only helps sharpen management and teamwork skills but also provides a platform where both junior and senior managers engage professionally. Thus, building knowledge on how to run the organization and focus on things that affect the normal functioning of the business. For example, how to motivate their subordinates to actively participate in the online training program.
2. Vendors
Vendors are crucial partners who contribute greatly to the company’s vision, goals, and objectives. An extended enterprise LMS allows them to meet different experts and mentors in order to build vital skills. It also gives them insider knowledge about business practices. Thereby, fostering a more productive and profitable relationship between external partners and your organization.
3. Investors
You cannot talk about business growth without mentioning the role of stakeholders. Through extended enterprise LMS, they can ask questions, follow posts on things that matter, and offer necessary support and advice when needed. This helps them get value for their money and develop a sense of belonging within the organization.
4. Suppliers
These are people who supply goods or services that your organization relies on. As such, they require their own training resources regarding company standards and practices. For example, compliance modules that offer the inside scoop on local regulations and protocols. Extended enterprise LMS platforms also help them share creative ideas and engage in healthy competition, which is beneficial for your bottom line.
5. Local Community
The local community is another crucial stakeholder. An extended enterprise LMS helps the community learn more about the organization and establishes a sense of trust. Thus, fostering a mutually beneficial relationship. People are more likely to purchase your products when they are familiar with your brand. An extended enterprise LMS gives them a way to communicate with your company and potentially become a loyal advocate.
6. Creditors
Banks, governments, and other creditors can use the extended enterprise LMS to evaluate your organization as a whole. They can also see which online training programs you offer consumers and external partners, then determine if their investment is worth the risk. For instance, they may be more inclined to approve your business loan if you provide a robust consumer online training program, as they are more likely to recoup their funds due to increased sales and customer loyalty.
7. Employees
Skills and trends in the workplace must evolve to enhance customer service. Employees need to keep up with new skills and emerging trends for optimal organizational performance. Also, they must learn about the latest technology to stay ahead of competitors. Regular online training using extended enterprise LMS enables employees to advance their skills and increase job satisfaction while reducing attrition rates.
8. Customers
To increase the loyalty and confidence levels of customers, you need to maintain full transparency. Which benefits will customers gain from your LMS? First, they get to know essential information about your products and the benefits they bring. Second, new customers can refer to FAQ and old webinars to find out how to use your product correctly. Customers are able to access important information about your organization and its products through your extended enterprise LMS. Thereby, improving brand awareness and loyalty. Here are just a few examples on how to use an extended enterprise LMS for customer online training:
a. Product Video Demos
Show customers how your product functions and how to maintain it over time. These video demos can also feature unconventional uses for the product. Customers watch to make better buying decisions and make the most of items they’ve already purchased.
b. Virtual Spec Sheets
Develop interactive spec sheets that showcase every detail of your new product. External sales teams can also use this online training tool to create the perfect pitch.
c. Customer Incentive Programs
Customers receive rewards for engaging with the extended enterprise LMS, such as completing online training tutorials or watching videos. These points or badges can be exchanged for prizes. The consumer earns free items in exchange for their time but they also build brand awareness in the process.
9. Distributors
Distributors directly connect an organization to its customers. Through an extended enterprise LMS, distributors acquire more information about the organization’s products, which puts them in a better position to persuade customers. Knowing more about the products also enables them to gain the trust of consumers. Finally, distributors need to know about changes in policies and procedures to ease their operation and avoid violations.
10. Franchisees
People who act as agents for company products need to know what they’re promoting. An extended enterprise LMS keeps them up to date regarding new products, policies, and procedures. They can also use the platform to train their respective employees, who are then better equipped to represent your brand.
As you can see, an extended enterprise LMS benefits virtually everyone who comes into contact with your organization. From franchisees who need to represent your brand on a daily basis to consumers who are looking for more information about your product before they seal the deal. This makes it a wise investment for companies who want to keep customers and external partners in the know.
Want to learn more about the possibilities of an Extended Enterprise LMS? Download our free eBook External Training 101: Everything You Need To Know BEFORE Buying Your Next Extended Enterprise LMS to learn everything you need to know before investing in an extended enterprise LMS, from tips to get external partners excited about the process to the deployment options you should consider. We’ll also shed light on the benefits of extended enterprise LMS ownership for start-ups and SMBs. Get your copy today to discover how a new extended enterprise LMS can broaden your profit margin.
