The cost of an elearning course is an aspect that operators in the sector cannot help but carefully evaluate. Especially in light of the fact that the web is teeming with information and content that can represent a “threat” for our course but at the same time an “opportunity” for our work.
For more precise details, refer to the following article.
Posted by Roundtable Learning – www.roundtablelearning.com
How Much Does eLearning Cost?
A corporate eLearning program typically costs between $200 and $900 for every minute of completed eLearning content.
This may seem like a wide price range, and that’s because there are many factors that can affect the price of your eLearning program. These factors include:
- Which eLearning level you choose (Level 1, 2, or 3)
- Whether your eLearning has professional voiceover
- How many minutes and modules of eLearning you want
- How much information is provided for the instructional design team
- What LMS you choose
Now let’s break down how each of these factors will affect the price of your program.
Which eLearning level you choose (Level 1, 2, or 3)
At Roundtable, we offer three service levels of eLearning that differ in price and offerings.
- Level 1 — $200 – $650 per minute: Level 1 eLearning provides a quick (up to 4 weeks for 15 minutes of content) and economic way to convey learning content with basic features, including client branding, standard knowledge checks, embedded videos, and more.
- Level 2 — $350 – $750 per minute: Level 2 eLearning takes up to 6 weeks to develop 15 minutes of content and includes every feature of level 1, plus additional capabilities, including professional audio narration, stock graphics, animated video, and more.
- Level 3 — $450 – $900 per minute: Level 3 eLearning takes the longest time to develop (up to 10 weeks for 15 minutes of content) and is the most customizable option that offers every feature of levels 1 and 2 plus additional capabilities, including custom graphics and animations, animated video, a custom user interface, and more.
Regardless of what service level your organization selects, our team of expert instructional designers, video editors, graphic designers, and project managers will develop a custom eLearning program that achieves your learning goals.
How many minutes and modules of eLearning you want
The length and number of modules that you want will affect the cost of your program. Depending on the service level of your program, the price can range anywhere from $200-$900 per minute.
Typically, the more minutes the program is, the higher the overall cost. The same goes for the number of modules.
Although you may encounter higher upfront costs for eLearning, a major benefit is that once a program is created, it’s created. Many eLearning programs make the high upfront cost worth it in the long run because the same program can be used over and over again for as long as an organization would like.
How much information is provided for the instructional design team
Providing information to your learning partner’s instructional design team will help reduce the time it takes to build the program. The more information you provide, the less time it will take to develop the content.
For example, your organization may already have a downloadable guide that identifies various parts of machinery. Instructional designers can be given this material and repurpose it in the form of an interactive eLearning module. This helps cut back on the time needed to build the content, likely lowering the overall cost of the program.
The more information you provide your learning partner with, the less time it will take them to build the content. Information could include:
- Previously used PowerPoints
- How-To Guides
- Infographics
What LMS you choose
An eLearning program is typically hosted on a LMS that helps organizations manage and track learners’ progress. There are many choices for a LMS depending on your program’s needs.
Several LMS functionalities can affect the price, including:
- The number of learners an organization has
- The number of uses per learner
- The number of courses an organization needs to manage
- Licensing fees
The most common LMS pricing model is based on the number of users. It could cost $.50 – $5.00 per user depending on the number of users participating in the course.
Pros And Cons Of eLearning
Pros
- Cost-Effective– Many eLearning programs have an initial start-up cost, but you can increase your ROI rather quickly when you run more learners through an eLearning program.
- Time Efficient– Employees can take part in eLearning when it’s convenient for them, including after hours, weekends, or even between meetings. In addition, instructors can create content on their own schedule and post it to your eLearning platform.
- Facilitated From Anywhere– Whether you are utilizing a synchronous or asynchronous style, a major advantage of eLearning is that you can utilize platforms from anywhere.
Cons
- Isolation – Not everyone learns best in front of a screen, as some learners thrive off of face-to-face interactions with their peers and instructors. Some learners can find online learning to be isolating and lonely.
- Self-Pacing Requires Self-Discipline– When you have a self-paced eLearning platform, it may be difficult to motivate your learners to log in and finish their program. Learners can be motivated by instituting deadlines, offering rewards, adding gamification, and utilizing engaging content.
- Technology Troubleshooting– Whether it’s remembering your password or just navigating to the right place, some people are not comfortable using technology.
Is eLearning Worth The Cost?
So, there you have it – average costs for corporate eLearning. When you consider the length, customization, and software eLearning content can cost between $200 and $900 for every minute of completed eLearning content.
It’s important to remember that based on your vendor, content, and scale, these prices will vary. Keep in mind that when you are looking to invest in eLearning, it’s best to work with your vendor to optimize your budget for your program’s learning objectives.