A few months ago we discussed the two main features we are planing for 2014 and the time has come to release the first of them – the Course Marketplace of TalentLMS. The Marketplace is an enabler; it enables Sellers and Customers to efficiently cooperate in a win-win scenario. From the one side Sellers get a prominent channel to promote their courses, and from the other side Customers get direct access to a substantial collection of quality content.
The reasons that led as to create the Marketplace are best illustrated in the following slide. What stands out is the “enormous simplification” opportunity that the integrated marketplace creates as we handle everything in one place.
We call these “enormous simplifications” opportunities, “adoption amplifiers” and you can find a short list of them on the following slide. Both Sellers and Buyers benefited from them either through instant delivery, direct access, transparent licensing or automated commission handling. Think about the level of simplification that iPhone’s Store brought on getting a new app; this is similar but for Courses.
The following Slide offers an overview of how the Marketplace works from start to end.
Below is an illustration of the process to submit a course for Marketplace approval. Note that you will need a Stripe connection attached to your domain to request a course addition. We distribute commissions automatically to your Stripe account which meas that, there is no waiting period to access your money.
From the Buyer point-of-view things are even easier. You will see a “Marketplace” link on your Admin dashboard. Through that link you can search for available courses and buy licenses. As soon as a course is part of your portal you can assign it to end users as a regular course.
An interesting aspect of the Marketplace is the transparent licensing handling. We use 3 stages on licenses handling that we call Reserve, Reduce and Release. Don’t worry about the jargon; in essence the stages are simple and they make sure that a license is properly consumed. Check the illustration below for a description of each stage.
Another important aspect of the Marketplace is the Restrictions and Freedoms it gives regarding course handling. Usually, course providers restrict Buyers too much. In Talentlms we let the Buyer extend the course with new content or give it a new price, while at the same time we make sure that no one can clone the original material to protect the Seller. All around, we bring a balance that amplifies rather than marginalize the usability of the whole system.
Finally, whenever a transaction occurs we get a commission from the Seller. We made sure that this commission is really competitive as the slide below demonstrates.
At this initial stage the marketplace is being populated with 20 high quality courses from our Australian partner Skills Maintenance. You can find courses about Health and Safety in a business environment. During the next couple of months we aim at growing the marketplace to more than 200 courses. You are welcomed to join this process!
- Check the following support article for a step-by-step guide to adding and buying courses from the marketplace: http://support.talentlms.com/knowledgebase/articles/360455-how-does-marketplace-works
- The above slides are from a bigger presentation. You can view it on Slideshare directly: http://www.slideshare.net/efrontlearning/the-course-marketplace-of-talentlms-a-introduction
Watch our video for the full breakdown: