Your continuing education program is an integral part of your association. Members join your association and stay year after year for your learning program. Your continuing education content can even help drive non-dues revenue.  
But did you know that your continuing education program can boost your association’s ROI? Read our blog for tips to measure and improve your learning program’s return on investment.

How your continuing education program can drive revenue and boost your ROI

According to the latest Community Brands Association Trends Study, 36% of associations rely on continuing education as a revenue source. However, 51% of association members identified training opportunities and certifications and credentials as their top member benefits.  
Community Brands research suggests that there is a definite opportunity for associations to drive revenue and increase ROI with continuing education programs.  

How to measure and improve your continuing education program’s ROI

Measuring your continuing education program’s ROI can help you assess its effectiveness and justify the resources invested. Here’s how to get started measuring and improving your ROI:

1. Define clear objectives

Before you start measuring ROI, it’s crucial to establish clear, specific, and measurable objectives for your continuing education program. What do you hope to achieve? This could include improved skills, increased productivity, better job performance, and more.

2. Quantitative assessments

Learn more about what your members want and the success of your learning program by leveraging these assessments:  

  • Participant feedback and surveys: Collect feedback from participants through surveys or questionnaires to gauge their satisfaction, perceived value, and whether they believe they gained new knowledge or skills.
  • Pre- and post-assessments: Conduct assessments before and after the program to measure knowledge/skill improvement.

3. Qualitative assessments

Gain helpful member feedback to drive your continuing education program by using qualitative assessments, including the following:

  • Case studies and success stories: Gather anecdotal evidence of learners who have directly benefited from the program. This can provide qualitative insights into the program’s impact.
  • Interviews and focus groups: Conduct interviews or focus groups with members to gain in-depth qualitative feedback. 

Use your collected feedback to make necessary adjustments and improvements to your continuing education program. 

4. Set key performance indicators (KPIs)

Identify relevant KPIs that can be directly linked to the skills or knowledge gained from your learning program.

5. Run a cost analysis

Calculate the direct costs associated with your continuing education program, including expenses for instructors, materials, technology, facilities, and administration. Consider any additional costs related to the program, such as time taken away from regular work.

6. Calculate your program’s ROI

Leverage the ROI formula to determine your current program ROI. To help you find your program’s ROI, consider the total program benefits including any tangible or intangible benefits Tangible benefits might include increased productivity, cost savings, revenue generated, and more. Intangible benefits might include increased member morale, loyalty, or organizational reputation.

You’ll also want to determine the timeframe over which you’ll measure the ROI. This could be short-term, like within a few months of program completion, or long-term, over several years.

7. Conduct benchmarking

Compare your continuing education program’s ROI with industry standards or benchmarks. When you compare your program to other’s you’ll get a sense of how it ranks against industry competition.

If relevant, consider comparing the performance of your learners against individuals who participated in other continuing education programs. This can help isolate the impact of the program on specific outcomes.

Learn more

Discover how Freestone LMS can help improve your continuing education’s ROI. Connect with the Freestone LMS team today!