PODCAST - why educating your customers is your biggest advantage
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[00:00:00] Learning Transformed is brought to you by eLearning Partners, your guide to designing transformational learning experiences in the age of AI For millennia, human intelligence was the highest form of intelligence on Earth, until now. Hi, I'm AI. I can process more information in seconds than any human in a lifetime.
This shift raises not only practical questions about the future of learning, but existential ones about the meaning of human life, growth, and evolution
On this podcast hosted by me, Johnny Havey, we navigate these questions with clarity, creativity, and confidence. As the most adaptable species on the planet, we can not only survive the rise of [00:01:00] artificial intelligence but create better human-centered AI-powered learning experiences that elevate humanity to a new era of abundance, transformation, and meaning
AI is rising and so are we
Now let's dive in
Today on the show, I'm gonna share with you what you can use as one of your biggest competitive advantages that is already living inside of your company. There are three reasons why educating your customers can become your biggest competitive advantage, and it really doesn't matter company size.
Startups all the way up to S&P 500 companies can harness the power of education to take your business to levels you never thought you could even imagine. Now, I've been in [00:02:00] e-learning for more than a decade. I've helped my clients harness the power of e-learning and education for a number of things. The first one is really one that you probably have already thought about.
And if you haven't, then this is a great opportunity right now for you to think about how this could impact your business. But really, you can harness education as an opportunity to create a new revenue stream. Now, this- Has been huge since COVID. Even before COVID, e-learning was a thing, online courses, online programs were a thing.
People were selling them, but once COVID hit, really took the online course e-learning program industry to new heights. And what I'm finding even years removed from COVID is there's still a huge opportunity for you and I to harness the power of education to create a new revenue stream for our businesses.
Here's what S&P 500 company, CoStar Group, one of my biggest clients I've worked with very successfully in [00:03:00] the past five years, saving them millions of dollars since we started working together. What they have done is seen education as an opportunity to sell a certification to certify commercial real estate professionals on how to get the most value out of their core product, which is commercial real estate data analytics.
What we've done is harness the power of education, and we've created multiple high-value programs that students, professors, and industry professionals can invest in to not only learn how to use the products and apply them to their jobs, but also earn a certification that top employers around the world look at as very valuable to hiring these professionals.
So students, before they even graduate, are able to invest in these certifications. Schools are investing for their students in these certifications. This is something you can look at doing as well. Another one of my clients, we have created multiple programs [00:04:00] for medical doctors to invest in adding a tool to their practice that allows them to serve their patients even more powerfully, serve their patients in ways that they never thought were even possible until finding out that my client exists.
And my client is sharing all the research that they have done with these medical doctors by certifying them in their proprietary medical protocols. You can do the same thing. But you probably already knew that you could harness the power of education to create a new revenue stream. Maybe you've already done this.
Maybe you've had some success with it. Maybe you need some help to elevate this to the next level. Well, here's the interesting thing. When you do this right... You can really capitalize on all three things that I'm gonna share with you today. The first one, new revenue stream. But I find that number two and number three are even more powerful.
Number two is you can increase product adoption, or maybe you don't sell products, maybe you sell services, so you can increase [00:05:00] customer acquisition. Point is, when you leverage education as your competitive advantage, you can not only create a new revenue stream, but you can actually increase your sales at your company.
You can decrease your sales and marketing expenses. This is really interesting. So when we're looking at increasing product adoption, increasing customer retention, what I've been able to do with S&P 500 company CoStar Group is we have been able to, through education, by making it easier for professionals, for their customers, to understand how to use their core product, we've actually increased product adoption.
So when you educate your customers and they know how to get the most out of what you're selling them, you're gonna get more sales. The other thing that's gonna happen, you're gonna increase retention. Now, I know when we usually talk about retention, we talk about retaining employees longer, and yeah, you can leverage education to do [00:06:00] that as well.
By continuously educating your employees, creating growth opportunities for employees, really making sure that they're more effective and more efficient at their jobs, then you are going to retain employees longer. And when your customers know how to get the most value out of your product, and they know how to get the most value out of your product longer, then they're gonna become customers for longer.
They're gonna be willing to pay you for longer. They're gonna buy more things from you and create what I call the education revenue accelerator. Now, I teach exactly how to create this for your business inside my Plug the Profit Leak Challenge, a multi-day live group consulting event where you and I get to dive inside of your business alongside other successful business owners and even some really successful enterprise leaders.
The gist of how this works is when you have education as a product, and you have a product as a product, and both of these are connected, [00:07:00] then what you do is you create this infinite flow of customers back and forth. You have education customers who purchase your education products who are then more likely to purchase your product products.
You have customers purchasing your product products who, to get more out of your product products, start investing in your education products. This goes on and on and on. I invite you to join me in my next Plug the Profit Leak Challenge. You can go to the show notes or go to the YouTube description to grab your ticket or go to plugtheprofitleak.com, and I'll see you in the next challenge.
Thanks for tuning in to Learning Transformed. Now, if you're designing a transformational learning experience and wanna skip the overwhelm of trial and error, check out our e-learning platform finder. Just answer a few simple questions, and we'll match you with the right platform, plus an extended [00:08:00] free trial.
And as a bonus, you'll get free access to a course that walks you through building your learning experience on your matched platform. Click on the link in the show notes or go to www.e-learningpartners.com/e-learning-platform-finder.
I'd also love to hear from you. Leave a review on Apple Podcasts or Spotify, or drop a comment on our YouTube channel. Thanks for listening, and I'll catch you in the next episode
AI is rising and so are we
