Tips to measure ROI on custom eLearning content development
Custom eLearning is the trend of the day as the content is customized to suit the organization’s learning requirements. In customized eLearning, the courses are designed precisely by adhering to the guidelines provided by the client. The primary objective of custom eLearning is to augment learner’s performance.
The purpose of the ROI metric is to measure returns on the money invested in developing the custom eLearning solutions.
Let us look at some important tips in measuring Custom eLearning ROI:
Estimate your ROI even before you start: Contrary to the popular approach to measure the ROI at the end of the development process, it is ideal to do an ‘almost accurate’ eLearning ROI calculation at the onset itself. Getting the figure of ‘projected ROI’ helps you make shrewd decisions.
Ensure that you include all costs: In calculating ROI, we determine all the costs spent in rolling out an eLearning course. In typical custom eLearning development, there are various costs involved for different elements such as:
Visual designing, content creation, animations, etc.
eLearning Technology such as virtual classrooms, application tools, remote learning infrastructure, and LMS, including support.
Apart from the standard costs of eLearning development, there might be some unpredictable and hidden costs, such as recruiting additional resources (as the task and timelines demand it).
Follow Kirkpatrick’s model: In fact, without formally evaluating the effectiveness of the course, you cannot estimate the ROI. According to Kirkpatrick model, a course’ effectiveness can be measured by checking the four-level approach:
Reaction: How did the learners respond to the course
Learning: What did the learners learn from the course
Behavior: Have the learners put the learning into practice?
Results: Has the course met its objectives and the expectations of the learners and the client i.e., RoE (return on expectation)
As Kirkpatrick’s model didn’t speak of ROI directly, an addition of ROI determination by Jack Phillips helped utilize the model for ROI calculation.
So, the bottom line is: to make a proper plan to estimate the custom eLearning ROI, from the beginning, considering all relevant aspects precisely.
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