Online Courses in Latin America, a business opportunity : the use and penetration of the Internet, together with the development of new technologies has brought about new models of education, such as online training or e-learning .
The first references to distance education in Latin America were in Mexico and Brazil in the 1940s, and it was later adopted by educational systems in first world countries such as the United States and England. This system offered the possibility of reaching remote communities, thanks to its wide access and flexibility.
Based on the traditional model of distance education via postal mail, public and private educational institutions in countries with technological tools and the Internet, evolved the so-called e-learning or online education.
Currently, the adoption of e-learning in Latin America shows the highest annual growth rates. By 2019, online courses generated more than $46 billion and, according to Forbes, by 2025 the knowledge industry will generate 1 billion a day. Geographical disadvantages and even economic inequality are factors that contribute to this growth.
Additionally, COVID19 accelerated the growth of the industry, being at home, connected and with time available offers incredible opportunities to acquire and deliver online training.
E-learning has been taking advantage of the high aspirations for development, learning and social advancement that are characteristic of Latin societies, mainly among users who are older than the average age for starting an undergraduate degree.
The vast majority of these students are already immersed in the labour market, needing flexible schedules, provided by this type of system, an effective solution to balance the hours dedicated to work and study.
According to the Global Market Insights Report, knowledge acquisition in Latin America will experience significant growth through 2020. The learning and training market in Latin America will grow by more than 20% annually over the next five years.
There are other factors that favor those who venture into conquering the market. E-Learning In Latin America, such as the rise and adoption of the Smartphone, a clear example of how technology influences the growth of the sector.
Smartphones and the web design Responsive or adaptive are great allies for rich content developers, focusing on modules adapted to the student's routine and the reality of mobile devices.
Online courses in Latin America, a business opportunity
More companies and professionals from around the world are betting on the potential of this sector, and are offering continuous modules at competitive prices to gain market share in the Latin American e-learning market.
20% EXTRA DISCOUNT
Get started today and get fully certified to create your Online Course
- 100% online at your own pace
- practical exercises
- Lifetime Access
- certified endorsed
Apply the coupon [DARE] and get an extra 20% discount for only 100 students. Click the button and join!
Latin America is the region with the highest growth in the number of smartphones
By 2023, mobile technology's contribution to the Latin American economy will exceed US$300 billion, as countries continue to benefit from increased adoption of mobile services and resulting improvements in productivity and efficiency.
Driven by continued network investment and imminent spectrum allocations, 4G adoption in Latin America is set to accelerate in the coming years, reaching 67% by 2025, paving the way for 5G. The two technologies will coexist for a long time to come; the first commercial launch of 5G in the region was in 2019 (Uruguay) and the progressive incorporation of the rest of the countries in the region is expected between 2020 and 2023.
Total IoT (Internet of Things) connections in Latin America are growing at an average annual rate of 14% and are on track to reach 1.3 billion by 2025, representing 5% of global IoT connections. While consumer IoT will continue to account for the majority of IoT connections in the region, enterprise IoT connections are expected to more than double between 2018 and 2025.
Spanish for your online courses
Spanish is the most widely spoken language and the official language in 18 of the 20 countries that make up this American region. The countries with the most native Spanish speakers are: Mexico (more than 120 million), Colombia (+ 48 million) and Argentina (+ 43 million).
According to the Instituto Cervantes' 2017 Spanish in the World yearbook, more than 572 million people speak Spanish in the world and by the middle of this century, there will be 754 million Spanish speakers. Today, 7.8% of the world's population speaks Spanish, a percentage that will remain unchanged until at least 2050, and it remains the second most widely spoken native language, second only to Mandarin Chinese.
On the Internet, Spanish is the third most widely used language, 7.7% of Internet users communicate in Spanish and it is the second most widely used language on the two main social networks : Facebook and Twitter.
Selling online courses beyond geographical borders, especially for Latin America , where the culture is similar and they share the same language, can be a rewarding strategy. Although each country on the continent has specific aspects in its language, adapting written material to a single language represents a significant saving in effort and costs, in addition to experiencing an increase in sales volume.
FREE DOWNLOAD
We also provide you with this valuable resource that gives you the necessary knowledge to create your first online course.
But how do you start selling online courses in Latin America?
Study the market
Find answers to questions like: Which market will you target? What is your expansion plan? Will your product be a good fit for that region? What is the competition doing in these markets? What will your pricing strategy be? Which tools and platforms are best for your product?
Managing a digital business involves different processes during planning, and knowing the market will help you choose the tools that drive the development of your business, define prices, create the content and scripts for your courses, and define a digital marketing strategy and dissemination of content on social networks, etc.
Marketing automation tools are a key factor for the scalability of your business. Although at first they may not seem necessary, as you advance in the e-learning world, not having an adequate ecosystem that allows you to scale your business will be the key factor in your success.
Acquire a Local Payment System
It is essential to take into account the payment methods preferred by users in each country. Do not make the mistake of thinking that simply offering credit card options will be enough. One common aspect of Latin American countries is their low banking penetration: 60% of the Latin American population is not banked and makes 70% of their payments in cash.
By offering the most popular payment methods in each country, you generate trust among consumers who want your online courses , increasing your sales conversion. When they see the logos of payment methods that are familiar to them, they feel more secure in providing their data and completing their purchases.
You can complement the payment method by using gateways such as PayPal . Although it is estimated that 70%-80% of sales are made using cards (credit or debit), PayPal addresses the most cautious user when it comes to entering their bank details for security reasons.
Another aspect to consider is the possibility of offering your clients the option to defer their card payments into monthly installments or instalments, which is extremely popular and sought after in Mexico, Chile and Argentina, for example. Without a local payment strategy, it is impossible to reach a wide market and offer so many payment options to your clients.
That is why the best option is to have a payment company that provides a local collection solution, ensuring a better conversion in sales, allowing your business to accept the different and most used payment methods in the countries where you plan to expand your business.
Do you have knowledge to offer the world? Don't waste the opportunity to create a business . With the Internet, you can take education or online courses across borders.
More and more people around the world have access to the Internet, which means more opportunities to offer unique and different learning.
That's why the know the trends of the market, new technologies and systems that can support you to offer your knowledge as an e-learning service, will always be a differential and an optimal way to achieve your goal.
Courses that may interest you
Do you want to acquire more skills to start and grow your business? We also recommend our courses on Sales Funnel , Manage your virtual store through E-commerce and Facebook Ads: Advanced Strategies.
