To maintain a competitive edge in today’s fast-paced and increasingly remote world, companies must find efficient ways to educate their extended networks. Keeping remote vendors, franchisees, investors, and sales representatives up-to-date on products and services is necessary to survive in our hypercompetitive global economy.
In decades past, keeping external partners in the loop required printed training materials, on-site presentations, and travel expenses. Today, an extended enterprise learning management system (LMS) enables companies to quickly and conveniently educate team members on products, services, compliance policies, and company standards.
A Gallup report found that 74 percent of employees don’t feel engaged or informed at work, so it’s time for companies to eliminate traditional communication chains and step into the 21st century. Here are five ways to use an LMS to hone your business objectives and heighten your competitive advantage:
A good enterprise LMS features certification support, which allows you to develop skill- or performance-based certificates that anyone can access online from anywhere. Brand representatives can learn about your latest product line and match offerings to new clients based on pain points and buying behaviors, and you can track performance. For instance, low completion rates might indicate gaps in certain skills or knowledge, allowing you to shift focus and address problems directly.
An enterprise LMS reveals problems faster than human review alone. For example, pilots train on simulation software that uncovers unconscious shortcomings. Once the software is able to pinpoint any problems, pilots are able to train to eliminate issues.
According to IBM, 71 percent of CEOs ranked human capital as the top source of economic value — ahead of products, customer relationships, and brands. You’ve already invested a tidy sum into developing external partners, so don’t let your competition reap the rewards.
Enterprise LMS software provides moment-of-need online support, such as mobile-friendly online training tutorials. These tutorials help individuals succeed, improve satisfaction, and foster brand loyalty. Gathering external partner feedback can help you design your ideal individualized training tools.
An extended enterprise LMS solution can help you identify gaps in your current strategy so you can customize your external partner training. The best enterprise LMS platforms feature built-in analytics, complete with data that highlights patterns and provides valuable learning and development insights. Combining metrics with business reports and customer survey findings makes it easy to develop a holistic online training program.
Ensuring a superior customer experience doesn’t start when consumers make a purchase — it begins the moment they start to search for products or services. An extended enterprise LMS gives them the opportunity to familiarize themselves with your brand, review product features, and choose the best solution for their needs. Existing customers can use the platform to improve functionality, guide product upkeep, and offer feedback that allows you to adjust business objectives based on customer needs.
Compliance breaches diminish your reputation, decrease employee satisfaction, and increase risks of on-the-job errors. Additionally, a study by the Ponemon Institute revealed that the 2017 average cost of a data breach in the U.S. was $7.35 million. With a corporate LMS, employees have instant access to policy tutorials, safety simulations, product-handling demos, and data security information that can help them avoid potentially problematic situations.
A successful enterprise learning strategy starts with choosing a versatile extended enterprise LMS for your company and getting stakeholder buy-in. Once you implement the right LMS, you won’t just define better business objectives — you’ll make them a reality.