6 Factors That Affect Learning Management System Revenue Growth

What Learning Management System (LMS) firm CEO, President, or Management Director doesn’t want to see a growth in profits? In this competitive market, with long sales cycles, one of the best ways to improve profits is by using a unique marketing and sales approach called “Inbound.”

According to Hubspot, 49.7% of companies using Inbound Marketing and Sales increase their sales within seven months. Traditional marketing and sales methods like print ads, website pop-ups, self-promotional emails, tradeshows, and cold-calling all to people who may or may not have any interest in your Learning Management System company just won’t cut it anymore. On the other hand, Inbound attracts qualified individuals using informational content that meets the clients’ needs. Inbound strategies help produce qualified website traffic, develop brand name recognition, improve the sales process, and enhance your profits.

Here are six ways to influence your profit development in the Learning Management System market:

1. Get clear on who your ideal customers are

Every business will have different ideal customers. A buyer persona is an imaginary personality that represents your Learning Management System company’s optimal customers. Considerable understanding of your buyer personas will help your marketing and sales teams develop content that pertains to your persona’s needs, which will draw in more leads and boost customer acquisition rates. According to Salesforce, it’s critical to think about the following areas when developing Buyer Personas:

Success factors: What rewards do the lead relate to success?

Perceived obstacles: What personal or professional hurdles would make the prospect pick the competition?

Change drivers: Are there any occasions that would change the prospect’s behavior?

Buyer’s journey: What questions does the prospect ask throughout the whole buying process?

Priority concerns: How does the prospect spend their time and money?

Decision criteria: What is the prospect’s process for making a decision?

2. Create a content strategy

Once you have developed your Buyer Personas, you can work with your marketing and sales teams to build a content strategy to bring in people to your site, convert them to leads, and them transform them into clients. Make sure your content responds to the questions most asked by leads and includes the right search phrases used by ideal buyers. Posting enhanced content on your site on a regular basis will help increase your search engine position and bring in even more organic web traffic. It will also position your Learning Management System company as an authority in the market and will help win the trust of your customers. You can develop content like blogs, ebooks, whitepapers, infographics, reports, and case studies that will inform your leads and bring them back for more. Sharing your content on social media will help you get to an even bigger target market and boost the chances of higher earnings.

3. Build effective landing pages

There’s no use in ramping up the traffic to your website if after visitors come, they never return. You need to convert these visitors into leads by getting their contact information. Doing this requires a landing page where new visitors can give their information in exchange for freemium content like ebooks, whitepapers, or reports. Make sure your calls-to-action are punchy enough to produce a feeling of urgency and get the prospect to do something. “Download our free report now!” and “Get your free ebook today!” are great examples of CTAs. A report by Hubspot found that companies with 40 or more landing pages got 12 times more leads than those that have five or less.

4. Nurture your leads with care

Your sales team can use the collected contact information from leads and nurture them with emails until they convert into clients. You can use systems like Marketo, Eloqua, Customer.io, Constant Contact, and Hubspot to automate your lead nurturing projects. To get the best click-through rates, make sure the emails are customized with “From” areas including your salesperson’s name and email address. The subject lines should produce a feeling of excitement and urgency. Use a clear call-to-action in all emails. The CTA needs to show up plainly in the lead nurturing emails to boost the chances of getting clicked. To reach an even bigger audience, your emails should include links to your social media accounts. Send links to blog posts and free content that aligns to the buyer persona getting the email to better engage your leads on a regular basis.

5. Develop mobile accessibility

ComSore says that people invest around 68% of their media time on their phones. Because of this, it is key that you enhance your site for smartphones, computers, and tablets. Your website developers should make sure that CTAs are big enough to click and placed above the fold to make them more noticeable on phones. The content should be kept brief and not jumbled with photos. Text on smartphones should be big enough for people to easily see it. Pop-ups and flash should be turned off to not distract leads, and navigation should be simple to use.

6. Measure impact

Be sure to monitor your marketing metrics like overall site views, traffic, bounce rate, conversions, close-shut ratios, customer retention price, and customer acquisition price. This will help you optimize your return on investment (ROI) and will provide you with a better idea of what is working and what isn’t. Tools like Mixpanel, Heap Analytics, Kissmetrics, and Kapost’s Content Scoring are great for evaluating metrics and projects.

The final word

Although it’s incredibly important for any company, profit growth does not happen overnight. Unless you concentrate your sales and marketing initiatives on the right target market, it will be very hard to close sales and see substantial earnings. Nevertheless, with Inbound Marketing and Sales, you will have the opportunity to bring in qualified leads, nurture them into customers, and then turn them into happy supporters of your Learning Management System (LMS) service or product.

We’ve helped many company leaders boost their marketing and sales procedures by executing Inbound. Don’t hesitate to schedule a free strategy session to help you evaluate your current methods and see how you can increase your earnings!

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