Everyone is talking about online learning these days. From online universities to online learning platforms, people are doing their best to exploit the power of the web to their advantage. One of the ways this is being done is through online course trade marketing. We will explain what this is and how you can get started doing it yourself!
What Is Online Course Trade Marketing?
The world of e-commerce is changing everyday. Once only available online, businesses are now embracing the digital sphere and using websites to reach consumers who are far away and connected to the internet via mobile devices. As a result, the sales funnel has changed; moving from initial contact through to subsequent engagement and action. According to HubSpot Blogs research, 71% of consumers who visit a store also make a purchase there. However, once they’ve visited the store, only 28% of them will proceed to make a purchase.
To stay competitive, business owners are looking at every aspect of their operations, from marketing through to product and pricing. One area that is garnering a lot of attention is online course trade marketing. What is this?
Well, traditionally, if you want to trade a product (i.e. buy and sell the same or similar products), you would meet up at a physical location (e.g. a shop) and trade hands-on with the vendor (i.e. person running the shop). In this scenario, the vendor is the in-person part and the shop is the digital part; allowing the vendor to meet and hand-over-fist customers who are online and browsing through their products.
However, with the rise of online learning platforms and online universities, this interaction is no longer necessary, as all the training and knowledge you need to run your business is available online. This is where the power of the web comes in, as with a few tweaks and modifications, you can become a trade marketing specialist, meeting and engaging with customers where they are and when they need it, via your website or online learning platform.
What Is A Digital Marketer?
If you’ve been selling your products or services online, you may have heard of digital marketing, often referred to as online marketing or web marketing. Similarly, if you’ve been responsible for marketing a company’s products or services online, you may have been labeled a digital marketer.
In today’s digital landscape, SEO (search engine optimization), PPC (pay per click), and content creation fall under the umbrella of digital marketing. However, a digital marketer can have a wide array of responsibilities including overseeing SEO, content creation, and PPC campaigns. On top of that, a digital marketer is expected to be skilled in HTML, CSS, and WordPress.
Simply put, a digital marketer creates and implements strategies to grow a business’ presence online. They may work with marketing managers, SEO specialists, and PPC managers to coordinate and execute marketing campaigns. Additionally, a digital marketer builds marketing material including websites, blogs, and other online media.
Why Is Online Course Trade Marketing Important?
If you’re responsible for marketing an online course, why is trade marketing important? Because as we mentioned above, consumers are shopping for business and professional products online more than ever before. If you’re running an online university or teaching business, you know that nearly all your students and potential students are located online. As a result, you have a prime opportunity to sell and promote your course globally. However, due to high student costs, many businesses are finding that they need to restrict where and when their courses can be accessed. This is where online course trade marketing steps in.
As an accredited online university or business with an already established student base, you can use your course as a way to drive additional revenue and gains via affiliate marketing, creating specialized learning paths, or establishing a ticketing system where students can purchase extra learning resources.
How Can I Get Started With Online Course Trade Marketing?
If you decide that you want to get started with online course trade marketing, where should you begin? Well, for that you need to set up your own small shop. However, you don’t need to have an e-commerce store to be able to do this. You can use a digital marketer’s recommended WordPress store, for example, which offers the basics you need to get started (i.e. shopping cart, order processing, etc.).
There are many advantages to running an online store. For one thing, it’s much more cost-effective. You can also use a tool like Shopify to create your store and focus on growing your business, without needing to worry about the nitty-gritty of running a store (i.e. shipping products, receiving payments, etc.).
Once you have your store set up, it’s time to start promoting it. Why? Well, like we mentioned above, consumers are taking advantage of the digital world and are searching for businesses like yours online. When they find your store, they will either look at your website or online ordering form to make a purchase. From there, you can direct them to additional resources, including your online courses.
To get started with online course trade marketing, first, you will need a merchant account. This is simply an account that you make payments through (i.e. bank account or credit card). After you have this set up, it’s time to start taking actions. What actions? Well, after a consumer makes a purchase from your store (e.g. buys a product from a digital marketer’s recommended store or a university’s learning platform), they will be presented with additional content you have to offer. In some cases, this may be an online course that you developed or a curated list of courses, designed to help them further their careers. For example, if you run a marketing agency and specialize in digital marketing, you can create specialized learning paths for your clients, teaching them the latest trends in the industry. Additionally, you can use your store as a way to promote your online courses to the general public, providing them with additional value.
If you’re looking to take your online presence to the next level and are interested in learning more about trade marketing, check out this blog post from digital marketer and educator, Richard Baxter. In it, Baxter talks about how he uses blogging to attract and engage potential students. You can also connect with Richard on LinkedIn to stay up-to-date on all things marketing.