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Hey guys, this is Jack from Trendhackers and today we're posting an analysis on a topic that's been trending for quite some time, especially ever since the COVID pandemic.
Online education.
We'll be exploring the trend itself and the different angles via which you are able to capitalise on it.
After researching Online courses and E-learning, we highly recommend people dabble in online education.
The market for this is growing, and the steady income shows immense potential for a long and sustainable business.
Skillshare has over 5 million active users, with other platforms still in the millions. Most online money-making “gurus” despite their skeptics generate 6-7 figures annually off their courses alone.
There is clearly a much bigger market to teach people how to make money, than there is in actually applying the knowledge.
The key to success in this field is the development of a personal brand.
A simple Instagram with 10k + followers is sufficient social proof to gain the trust of most common consumers.
Additionally, with the promise of a second stimulus check, and fall semester being online for most colleges and learning platforms, there is another anticipated rise in interest for online education.
WARNING: The market is now weary of unethical get-rich-quick courses that over promise and under deliver. Channels such as Coffeezilla and Spencer Cornelia have built an audience of followers critical of the industry, so ensure you are genuine in your marketing and you behave ethically when marketing or you will potentially face negative consequences from the community.
WARNING 2: In addition to the above, make sure to generally avoid low quality courses based on MINDSET & "How to make a million in 30 days" because you will be, EATEN ALIVE.
That's it guys! hope you enjoyed this rundown)
We have a bunch more coming up on eCommerce products this upcoming week. Also more than happy to answer any questions)
Online education.
We'll be exploring the trend itself and the different angles via which you are able to capitalise on it.
Increase in Interest
- Due to COVID, spikes starting early March.
- Zoom stock rising from $66 to $251 within 6 months, with other online educational platforms following their footsteps and seeing significant rise in revenue.
- All interest about online education going from a score of mid 30s-40s to 100 by early March on Google Trends
- Steady decline since, but with a second wave anticipated and most public universities committing to moving coursework online during the fall, another spike is expected by September.
- Large potential for institutional education platforms as well.
- Increased downtime due to isolation, coupled with parents desiring continued education for their children, has also resulted in increased Online Education interest.
Growing Demand from Necessity
- WorldWide school closures and restrictions. For example in the USA, federally mandated shut down of schools on Feb 28th. By March 13th, all colleges followed and soon so did most workplaces.
- With a steady 4.4% worldwide increase in entrepreneurship interest, millions of job losses and a shift to remote work, career shifts are rampant in an effort to diversify skill sets and meet new job requirements to acquire employment.
- Average college costs: $55k a year in the United states alone, as finances dwindle, more cost effective means are pursued by students.
- Prior to Covid-19 spread, online education was on the rise, and after the lockdown all traditional and non-traditional college platforms have been mandated to teach online.
- Post COVID spike, the repeated reliance on Online Education worldwide will see the trend sustain and achieve a steady growth as businesses take the natural progression of remote offices due to decreased running costs.
Regions and demographics of consumers
- The regions with greater interest in online education is directly correlated to regions most effected by Covid-19
- The United states showed the greatest objective interest in E-Learning, particularly in New York, the District of Colombia and California, as well as densely populated college towns like Indiana, Illinois and Massachusetts
- Other global rising interests included First World Countries with a high rate of college graduation
Long-term ramifications of online learning
- 400% rise in interest for online degrees, with colleges with as ASU, MHA Online and Bellevue University gaining a net average of 2.8x increase in applications of the class of 2024.
- General paranoia and stigma around traditional learning is at an all-time high, as most students have shown positive feedback regarding online learning.
- The 9% national increase in employment with over 18m jobs lost in the United states has led to a mass depression and an increase in desperation for online working opportunities.
- A second stimulus check is expected to be sent in Mid July, a lot of which may be invested into online education.
Demographics of user
- 14-60 years old. Higher percentage of 25-40 year olds however the demographic is broadening with increased popularity and demand as per above.
- Ranges in age groups, and more elderly joining the demographic in recent years and months
- A large scope of english and non-english speaking countries. Many of the COVID affected countries, but also many economies struggling economies
Chances of re-purchasing
- Reliant on the platform. If It is a subscription-based access platform, monthly fees are consistent.
- Membership mastermind and programs are gaining traction
- Good opportunity of upselling related products.
- Ability to utilise the acquired database for increasing re-purchasing and acquisition value
Utilise your existing skills and knowledge base to provide content to existing platforms like Udemy and sell your courses.
Opportunities for You Beyond Creating A Platform...
Teaching a hobby
- With the quarantine in place, there is a big rise in people pursuing hobbies.
- Teaching an instrument to beginners
- Teaching languages
- Any creative outlet, popular ones are Graphic design, nail art, shirt and clothing design, photography and Instagram/Facebook post design. You can teach almost anything, this is the easy part. Make sure you use Google Trends to ensure the hobby you select is either gaining traction or has solid demand
Teaching a valuable skill in the job market
- Any business skill such as marketing, sales...
- Courses in Video and Photo editing
- Languages for translation
- Speed reading
- Woodworking
Teaching entrepreneurship and how to make money online
- Major rise in entrepreneurial ambitions for recent graduates
- Dropshipping courses
- Affiliate Marketing
- SMMA programs
- Drop servicing courses
- Amazon FBA courses
- Social Media influencer courses
- Tik Tok and other marketing development courses
How to start Online courses
- Gain an awareness of your skills and ability to teach
- Compare your topic to competitors, and ensure it is in high demand
- Set-up learning outcomes and film/gather course content
- Set-up a viable modules and timeline for the students
- Set-up your online school
Bonus: Increase Perceived value
- How you increase your perceived value as a teacher
- Build a social media presence to sell success
- Show testimonials of successful students
- Make a webinar showing how you’ve changed your life through the skill
- Create a dream of what your students will achieve once they follow your tribe
- Show years of experience in your field
- Build a social media presence to sell success
- Show testimonials of successful students
- Make a webinar showing how you’ve changed your life through the skill
- Create a dream of what your students will achieve once they follow your tribe
- Invest in a clickfunnel and a well UI’d website
- Have an above average course price
- Higher prices not only lead to more revenue but more net sales
- Investing in education is a big purchase, so a higher price leads to higher perceived value
- Research competitive prices for your educational field and mark up 50-100%
- Provide mentorship and personal live help (for appropriate sectors)
Business Education - Industry Analysis
Competition
- As this is a broad topic, the competition will have to be researched on a per-topic basis.
- Consumers only purchase ONE course for their respective skill, so it’s important to research your competitor and find a Unique Selling Point that differentiates you from them.
- Bonus tip: As mentioned above, look intro educators offering education through other means such as bootcamps and masterminds.
Example of several Ad Copies
Unique selling points
- Create a personal brand that allows you to develop a tribe or a following
- Your followers have trust in your words and content
- Your followers will believe the story or the dream you sell them
- Your followers will invest in your course if they want to achieve the same success you portray
- Create an engaging advertisement
- Reach out to the customers pain
- Provide an ideal goal that they can reach after purchasing your course
- Create a digital resume allowing you to stand out from the competition in terms of accomplishment
- If the audience feels you know more than the competitors, they will trust you and spend more
- If you’re picking an already saturated field, attempt to stand out from others in your field in terms of success or promise to offer more PERSONAL value
- Find a niche with very little courses
- If you are struggling to get a decent share in a big market, it’s safer to create a new market
- Research a skill that is not too crowded with courses (unlike SMMAs, Dropshipping, instead look for blue oceans like growth hacking or TikTok marketing) and become the leading thought leader
Opinion on Investing in this Trend
After researching Online courses and E-learning, we highly recommend people dabble in online education.
The market for this is growing, and the steady income shows immense potential for a long and sustainable business.
Skillshare has over 5 million active users, with other platforms still in the millions. Most online money-making “gurus” despite their skeptics generate 6-7 figures annually off their courses alone.
There is clearly a much bigger market to teach people how to make money, than there is in actually applying the knowledge.
The key to success in this field is the development of a personal brand.
A simple Instagram with 10k + followers is sufficient social proof to gain the trust of most common consumers.
Additionally, with the promise of a second stimulus check, and fall semester being online for most colleges and learning platforms, there is another anticipated rise in interest for online education.
WARNING: The market is now weary of unethical get-rich-quick courses that over promise and under deliver. Channels such as Coffeezilla and Spencer Cornelia have built an audience of followers critical of the industry, so ensure you are genuine in your marketing and you behave ethically when marketing or you will potentially face negative consequences from the community.
WARNING 2: In addition to the above, make sure to generally avoid low quality courses based on MINDSET & "How to make a million in 30 days" because you will be, EATEN ALIVE.
That's it guys! hope you enjoyed this rundown)
We have a bunch more coming up on eCommerce products this upcoming week. Also more than happy to answer any questions)