E-learning has been trending since the pandemic and is bound to grow further in the times to come. Not many have excelled in the field during the pandemic – but Udemy surely did. In this guide, we will give you some great insights into how you can create an app like Udemy, an extremely successful platform. We’re certain that the new normal has inspired many to build their own e-learning platform from scratch and all you need is a gentle nudge along with the right strategies and business model.
So basically what about Udemy?
Founded in the year 2010, Udemy, an online learning platform cum marketplace has seen phenomenal success in the last decade. The E-learning platform was able to garner over 1000 instructors that developed a total of 2000 courses within the first few months of its launch, and in the span of just two years, it amassed over 400,000 registered students.
And today, with an astounding number of 50 million active users and 150000 courses (evolving as we speak), the EdTech giant is inspiring entrepreneurs from around the globe. Source: Wikipedia
Certainly, the pandemic has radically changed the traditional education and learning space, which has taken these e-learning platforms to new heights. This has led to the development of modern education – an industry shaped with new trends and technologies.
The leading e-learning marketplace operates on six essential pillars – accessibility, customization, comfort, value, affordability, and brand value. The flexibility in Udemy’s business model drives both instructors and students to get enrolled on the platform. Udemy does not charge a fee to create or host courses on the platform, which means that it only makes money whenever a student purchases a course that is further shared with the instructors. However, the instructor fee may differ depending on the course acquired.
Enlisted below are the three revenue share tiers applied by Udemy.
This kind of promotion fee is applied whenever a student discovers a new course through a coupon or referral link issued by the instructor. In this case, the instructor receives 97 percent of the course fee, and the rest 3 percent is kept by Udemy.
If a student browses the Udemy platform and finds some course he/she is interested in, then Udemy and the course instructor share an equal percentage of the course revenue, i.e. 50 percent. Udemy charges a 30 percent fee for any course purchased through the company’s Android or iOS app.
Udemy also streams advertisements on several platforms like Google, Facebook, or YouTube. Whenever someone buys courses via these paid marketing channels, Udemy charges a 75% cut of each course sale. However, instructors have the authority to limit the channel mediums and streaming time to promote their courses.
For more information, refer to Udemy’s Instructor Revenue Share.
Well, we certainly take inspiration from the best when it comes to building anything from scratch. Thriving in the increasingly tough markets could get challenging for anyone, especially during the times when digital learning is all students look forward to. And there is definitely no compromise when it comes to education.
Get ready to build a remarkably consistent e-learning marketplace, basically a Udemy clone!
While creating App like Udemy seems a super complicated and time-consuming business, it really isn’t. The consistency in its success rate over the years is attributed to a highly proficient business model. So, here’s your ultimate guide to building a successful e-learning app like Udemy.
To build an effective and affordable product, you must validate your idea. Where does the e-learning market stand currently? Is it expected to grow in the coming years? These are the first two questions that you must have answers to before proceeding. According to several research reports and market surveys, the e-learning market size is expected to grow beyond USD 300 million by 2025.
After validating your idea, it’s important to define your niche and think about the courses you wish to offer on the platform. To segregate the most common niches, you need to think about the learning preferences of your users, this can be anticipated by knowing their demographics (age, gender, and educational background).
Once you know your target customers, the next step is to find different ways to monetize your e-learning platform and prepare a robust business model. The most prominent revenue model is charging users for specific courses as Udemy does. Other popular business models are a subscription-based model or the premium account, the paid certification model, and advertising/sponsorship. Udemy applies the monthly or annual subscription-based model in its corporate-oriented platform called “Udemy for business.”
The core features are going to determine the success of your platform and attract both learners and instructors to join your e-learning website. If you wish to create an app like Udemy, you can segregate the core features into three segments:
The ease with which the user can navigate your platform determines its success rate. So while strategizing the UI/UX for your website, make sure to factor in the following features:
What kind of technical support and software development solutions do you need for your platform? Adding the right functionalities to your app or website needs the best app or website development services. Remember, to stay ahead of the competition, you need a comprehensive suite of services that only a few marketplace building software like Code Brew can offer.
Once you are ready to start the development process, start with creating an MVP (Minimum Viable Product) of your app. Creating a basic product first instead of a fully operational app will help you validate your idea and make suitable changes to the app. An MVP helps you interact with the early adopters, know their preferences, and make changes to appeal to your ultimate target users.
The pandemic has changed everything, and this has had a massive impact on the education sector. The e-learning platforms have gained prominence for several reasons. One of the big reasons is several interesting course options that appeal to the learners who wish to learn beyond the traditional curriculums.
Remember, the success of an e-learning platform depends on how efficient, informative, appealing, and profitable it is to the users and instructors.
The rising popularity of such platforms has inspired entrepreneurs to get their ideas manifested with the help of a trusted mobile app development company like Code Brew. Having a great business idea or the capital to invest in? Get in touch with us and we can help you become the next big thing in the market ahead. Because we not only brew ideas, we brew success!January 29, 2021