How To Create An Online Education Marketplace

Advancements in technology are inevitable, and so is their application in different industries. One such domain that has significantly benefited is the education industry. For the past several years, the online education marketplace has skyrocketed immensely in gaining traction and disseminating knowledge.

The massive popularity of online learning courses is continuously increasing and will continue to do so in the forthcoming years. The reason behind this is the accessibility to educational material and its easier availability, which are also affordable.

If you are keen to build an online education marketplace, then you are in the right place. Hyperlocal is a leading software development company that has successfully built various educational platforms to increase customer engagement in a shorter period.

Before delving deep, let's first understand the digitally powered education marketplace. In this blog, we have distinctively mentioned the development process, features, and their importance.

Stay tuned!

What Is An Online Education Marketplace?

It is an awesome platform that acts as a mediator between teachers, experts, and learners to offer an all-inclusive, knowledgeable, and enriching experience. The marketplace comprises phenomenal educational resources that encompass everything under the sun, mainly courses in video and audio format, quizzes, social learning tools, and much more.

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Diverse Categories Of The Online Education Marketplace

Tutoring Marketplace Platform

Such a platform creates a much more interactive platform between the students and the tutors. The aim is to offer a more personalized learning experience, with one-on-one sessions to elevate the students' academic levels.

Do you wish to build a tutoring platform for your business? Talk to the experts at Hyperlocal to bring your visions to life.

Language Learning Platforms

These online platforms act as multi-language tutoring platforms, helping individuals learn about languages spoken worldwide. The marketplace consists of experienced tutors from 100+ nationalities.

At Hyperlocal, we have helped entrepreneurs develop some popular online tutoring platforms;

Marketplace Like Preply

Develop an online language learning marketplace like Preply and simplify the complex learning process. This easy-to-understand platform comes with splendid features that help businesses expand their global reach and build a strong brand reputation.

Platform Like Italki

Build an online language learning platform like Italki, which offers 150+ languages taught by top experts. The learners can book trial sessions with their favorite tutors via video chat.

Platform like LiveXP

This platform connects the learners with their favorite tutors to engage in an advanced learning environment through top-tech features and content, elevating the education standard to the optimum level.

Online Course Marketplaces

Such platforms offer pre-recorded videos based on diverse subject lines that help students gain knowledge and acquire skills that facilitate both personal and professional growth.

Career Coaching Platforms

These marketplaces provide a coaching guide to help people get fantastic career guidance. Choosing an appropriate career path is daunting; therefore, creating these platforms allows people to foster their career trajectory.

Corporate Training Marketplaces

Offering hard and soft skills to newbies in the corporate world is totally in demand. Corporate training marketplaces are the only way to create a platform that provides training abilities to employees with relevant courses and the latest tech advancements.

Online Education Marketplace App: Best-In-Class Features For Top-Notch Learning

Students App

Search & Filter: Enables learners to look for the desired courses and teachers/tutors, depending on their choice.

Payment Gateways: Enables learners to make seamless and secure payments through the robust payment security gateways.

In-Built Tools: With this feature, the users can get access to learning tools like video chat, group discussions, etc., to make the interactions smooth and error-free.

Multilingual Languages: The platform is available in different languages so that it is comprehensive by a large pool of people.

Multi-Currency: Allows the users to perform transactions in multiple currencies so that no learner is left out.

Reviews & Ratings: Enables students to give their feedback for the services received from the tutors.

Admin Panel

Progress Tracking: With this feature, the admin is able to keep the record of the learner's progress against the predetermined outcomes.

Reports And Analytics: Enables admin to fetch insights to make precise decisions and present the data in a well-structured, easily understandable format.

Profile management: Helps in the perfect handling of the user profiles, be it tutors or learners, and manages their activities accordingly.

Dashboard: Allows the display of the key metrics related to the platform, such as revenue, profits, sales, active users etc.

Promotional Campaigns: Helps the admin create marketing campaigns to entice new customers and retain the older ones through discounts and sales offers on courses.

Tutor App

Course Listings: Allows users to upload their study courses or content with multimedia elements like images, videos, and audio with proper descriptions.

Personalized Learning: The admin creates customized courses for the students on special demand and charges more than the usual ones.

Calendar Attribute: With this built-in functionality, the tutors can easily synchronize their classes with the required time to remove all kinds of hassle.

Real-Time Communication: Helps the tutors establish immersive and engaging interaction with the learners online.

Personal Dashboard: With this attribute, the tutors can view their curated courses, total earnings, transaction history, bought courses, etc.

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Steps To Create An Online Education Marketplace: For Enhanced And Effective Learning

Competitor Research

The first step is to understand the market trends and patterns. Further in the process, competitor analysis is equally important. It helps decide what technical aspects of the platform need to be included. Our professionals will conduct an in-depth analysis, find the gaps, and work towards crafting strategies to build an innovative and ingenious online education marketplace.

Pick The Desired Niche Platform

During this stage, our experts will offer adequate guidance to select a particular niche, such as tutoring, language learning, career coaching, mentoring, or higher education platforms. Moreover, we will offer the expertise that will make the building marketplace stand apart from the rest existing in the market.

Development

This stage basically comprises the front and back-end architecture. The former one focuses on visual elements like color, design, logo, interface, etc. Most importantly, the UI/UX design needs to be user-friendly so that it is easily navigable and accessible by users.

The next crucial thing to consider is code execution and feature integration via robust frameworks, programming languages, third-party APIs, etc.

Testing And Deployment

The development process doesn't end here; it requires eliminating abnormalities and bugs. Using advanced testing procedures, our software testers will remove the errors to improve the platform's performance and responsiveness.

Following that, the platform is to the dedicated server and is further monitored for any technical issues related to security and functioning.

Launch And Maintenance

The online education marketplace is launched for public use and is maintained and updated for any glitches.

Why Are Businesses Investing in the Online Education marketplace?

• According to Statista, by 2024, the online education market is anticipated to be $185.20 BN.
• Revenue is estimated to grow at an annual rate of 8.56%, and by 2029, the market volume will be around $27.30 BN.

These numbers are incredible and act as a driving force to compel entrepreneurs to invest in this niche. Moreover, there are massive earning opportunities that are associated with the online education platform. Also, it adds up to the huge revenue and profit generation that every business wants.

Here, we have mentioned the stupendous business benefits of creating an online education marketplace;

Global Reach

Online platforms blur all geographical boundaries and are a more effective tool for capturing the audience in any part of the world. The intuitiveness and availability of the course time add up to the universal reach.

Increased Scalability

Another great advantage a business can experience is the platform's scalability. The ability to handle and cater to more workloads and demands increases the ease of use, portability, and expandability to the next level.

Cost Reduction

The online education platform helps reduce overall costs. Most of the budget is used to establish the setup in the initial phase. After that, the costs are drastically minimized as most of the expenditure is on maintenance and the infrastructure. The other advantage linked with online platforms lies in cloud-based learning systems that promote flexibility and affordability.

Increased Engagement

The availability of video content intensifies interaction and builds engagement at a higher level, improving retention power. The e-learning platform, which is embedded with magnificent features and superb multimedia elements, creates the highest degree of involvement among learners.

Measurable Results

The online education platform is instilled with in-built analytics that helps track consistent performance. It also helps detect workforce or operational gaps in real-time. This attribute helps meet the desired goals and fetch quantifiable results.

Streamlined Operations

As this is a digitally powered platform, every operation is streamlined, resulting in more customer satisfaction. The automation attribute computerizes every move, enhances efficiency, and pre-programs repetitive tasks.

The above points clearly define why investing in an online learning platform has become the norm and why entrepreneurs are keen on investing in the same.

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Online Education Marketplace: Top-Tier Revenue Model

Course Fees

The app owner charges an adequate fee to the learners for the courses they take on the online platform.

Subscription Fees

The accessibility to premium content and the unlocking of superior features help businesses generate additional income.

Advertisements

Certain fees are charged for displaying relevant third-party ads on the online platform, adding to the new source of income.

Commission

The app owner of the online education marketplace charges the specified fees in the form of a commission from the tutors for every single session.

Paid Certificates

Course completion often leads to certification that students can add to their CVs. However, it also requires a verified certificate, for which a specified fee is required.

How Much Does It Cost To Build an online education marketplace?

The development costs start at $15k, depending on the level of customization. Check out the factors influencing the cost;

• Latest tech stacks
• Integrated features
• App complexity
• Location of the developers
• UI/UX design
• Size of the development firm
• Development process

This is just an estimated cost. For more details, get in touch with our team of analysts, and get an exact quote.

Why Choose Hyperlocal Cloud as your reliable partner?

Hyperlocal Cloud is a leading on-demand app development company that has helped entrepreneurs achieve their business goals across various niches. With more than three years of experience in the IT industry, we have built top-notch platforms tailored to clients' requirements.

There are various parameters that set us apart from our competitors, which we have mentioned below. Get ready to experience the extraordinary services that will take your business to new heights.

• Quick Launch
• 100% Customization
• Result-Oriented Approach
• Expert Professionals
• On-Time Project Delivery
• No Language Barrier
• Pocket-Friendly Prices
• 24*7 Customer Support
• Agile Methodologies

Don’t hold back; discuss your ideas and transform your dreams into reality.

Frequently Asked Questions (FAQs)

How Much Time Does It Take To Create an online education marketplace?

The total time for app creation is a couple of weeks. The exact time frame for completing the project lies in complexity, development location, customization, feature integration etc.

How Much Does It Cost To Build An Online Education Marketplace

The development cost starts at $10,000 and depends on the top-tier designs, personalized attributes, and so on.

Why Is The Online Education Marketplace Popular Among Businesses?

The worldwide reach, enhanced customer satisfaction, affordability, and increased scalability are some of the reasons behind its popularity.

Which Tech Stacks Are Included In The Platform Development?

React.js,MongoDB,Apache,code igniter, node.js, react native are some popular tech stacks.