As we move further into 2024, training providers are encountering a unique set of challenges that are reshaping the landscape of education and professional development. From rapidly evolving technology to shifting learner expectations, these obstacles require innovative solutions to stay ahead in a competitive market. In this article, we will explore the five major challenges facing training providers in 2024 and offer practical strategies to overcome them, ensuring that your programs remain effective and relevant in this dynamic environment.
Lack of resources was the top challenge for training providers this year, with almost half (45%) highlighting it. Interestingly, first place and second place on our list stayed the same from 2023 but swapped places; clearly, the same struggles are still being felt.
A lack of resources can refer to a few things but the top challenges we’ve identified (through our research and speaking to customers about their struggles before coming to accessplanit) are:
If you are struggling with a lack of resources, a good place to start would be to conduct a thorough audit of your operations. Identify the key areas where you are suffering and resources are being misallocated, and see if some shifts can be made to achieve more efficiency. Focus on what is most important to your training company according to your business plan.
Could you make a shift towards online, on-demand learning methods to alleviate some of these problems? You could use methods such as content downloads, eLearning or podcasts which are highly popular with learners according to our research surveying learners. This is instantly accessible learning material that doesn’t even need a trainer or a venue. This would also allow you to reach a wider audience and alleviate admin time.
An important step towards more effective resource management is investing in training management software, which can free up time by automating admin tasks. Plus, it centralises all of your resources in one place so that you can track them more efficiently – things such as assigning trainers, venues and equipment. As such an intuitive piece of software, it would also make it easier to transition to online offerings – especially accessplanit, with its built-in eLearning platform.
It feels like price rises are never-ending in the current economy, so it’s to be expected that this has been cited as a challenge by training providers repeatedly over the years. 38% named it as a challenge in 2024.
With inflation rising, everything costs more – from training venue hire and equipment to essentials needed to keep any business running. So how do you upkeep high-quality courses whilst your budget shrinks and costs rise?
As we said above, it’s imperative to regularly audit your operations and check if there are any areas where money is being poorly spent. To do this, you need the right reporting tools in place. Good business visibility helps you to report on course profitability, budgets and historical data. This allows for effective forecasting and mitigates the risks of rising costs.
With this, you’ll better understand which courses are underperforming, which are the most profitable and areas with poor ROI, allowing you to invest in the right places.
Are you using expensive, outdated technology that could be upgraded at a lower price with much-improved efficiency? For example, you might look into cloud-based infrastructure.
Are you running an in-person course at a loss because of poor attendance rates that never fill the expensive venue? Could you downsize the venue and use the budget saved to improve your marketing? Maybe it would make more sense to move this course online, eliminating venue costs and expanding its potential to clients further afield.
Exacerbating the problem above is the cost of living crisis. 2024 is the first year we included this as an option on our survey and it launched straight into third place, with 31% of training providers identifying it as a challenge.
Not only are prices rising, but purse strings are tighter than ever before, reducing customer willingness to part with cash for training courses and increasing the strain on training providers.
Conduct thorough market research to identify your ideal audience and your competition. This will help you to figure out how to set yourself apart with a USP and effective pricing.
Then, it’s vital to have effective marketing that shows why investing in your training courses is worth the money. There are many cost-effective methods you could use to spread the word about your training courses – some of them free, such as social media marketing. Check out our tips for promoting training courses on social media.
Another free marketing method is leveraging word of mouth – named as the most effective marketing technique for training providers 5 years in a row. Think about how you can gain more testimonials and utilise them in your marketing material. This gains all-important brand trust.
Training Industry Benchmark Report insight: 20% of learners say they would find a training course through recommendations.
Like we mentioned above, there are many non-negotiable daily tasks when it comes to running a training business. With an ineffective operation, things easily fall off the radar. There simply isn’t enough time to optimise when bogged down in admin such as sending joining instructions, managing delegates and allocating resources. 29% of training professionals agree.
This is also caused by ineffective infrastructure, such as slow network speeds or old technology prone to errors and crashes, as well as systems that aren’t fit for purpose. We often find that before coming to accessplanit, training companies spend hours trawling spreadsheets or forcing unsuitable software (like a standalone LMS) to fit their operations.
Valuable time ends up wasted and growth opportunities go amiss.
Your team doesn’t have to spend hours on never-ending admin. Training management software is a solution specifically built for training providers which can automate essential activities such as:
This saves you time to focus on the things that matter and grow your training business.
Begin your research with our ultimate guide to training management software.
The challenge of increased competition is up 5% compared to last year. This indicates that the industry is growing and it’s harder than ever before to stand out in the crowd. In some senses, it is a good sign that there is plenty of competition on the market as it suggests that the training industry is thriving and there is potential to tap into.
On the other hand, it’s certainly a challenge to ensure that you are the top choice for your target audience.
Focus on achieving high customer satisfaction by optimising your training courses according to their wants and needs. Conduct pre and post-training surveys and analyse the results to ensure you understand what people do and don’t like. Then, share the results with the wider business so that everyone’s on the same page and act on them. With high customer satisfaction comes repeat business and recommendations.
Training Industry Benchmark Report insight: 76% of training providers see customer and delegate satisfaction as a key metric for success.
In addition, be sure to invest in a marketing strategy and take the time to analyse the results, so that you can figure out the most effective marketing channels and messages that resonate with your audience.
It’s important not to fall into the trap of simply copying exactly what your competitors are doing in the hope that you’ll do it better than them. You need to offer something unique.
We release the data in our annual Training Industry Benchmark Report to help training providers get ahead of trends and challenges for the future. Download a free copy today to read the full fascinating results from this year!
This article first appeared on the accessplaint website and is published here with permission.
Search our FAQs:
Our FAQs page can answer some of the most common questions, just click a topic below:
Fees, Certificates, ID Cards, Payment
Still can't find the information you need? Visit our contact us page to get in touch.
