Our clients often asked the question “How should I measure the ROI on this investment you’d like us to make building Custom eLearning Videos?”
And the answer varies depending on the training need, its urgency and how the client’s organization perceives the notion of “value” which is derived from delivering great training.
One of our clients, CFL – the passenger train company of Luxembourg – recently wrote a document where they articulated how they measured ROI for one of the projects we did for them. In this blog post I’d like to share with you how they measure ROI.
The project was to demonstrate an emergency scenario (the overheating of the brakes of a running train) and the follow-up procedure which the train driver and conductor are obliged to follow. CFL and Jilbee presented this training video at a conference recently. We blogged about it here. If you are interested in seeing the actual video you can find it here or see the case study here.
So here are the 4 points CFL used to measure their return on investment in this project:
Engagement of the trainee
One of our major problems CFL had with its existing training method was that it never looked realistic. And so it was always difficult for us to keep the trainee engaged. When someone has 15-20 years of experience, and you are trying to train them using “high school” methods – like drawing on the whiteboard – how can you keep them engaged? For them, just having our trainees completely engrossed in the eLearning video was enough to justify the cost.
Lowering the cost delivery training
By making the eLearning video available on their intranet meant that CFL employees spent less time in the classroom, if at all. Further, the trainees had access to the eLearning video at all times and could access it as many times as they want. CFL expects such improvements to lower our overall cost of delivering this training.
CFL saw that their viewers were having higher levels of engagement with the eLearning video and therefore expect to see higher rates of retention of the learning material. They also expect to see higher scores on the tests on this topic than they did in the past. They also see trainees asking better questions after they have watched the video.
Lower accident rate
At the end of the day the only ROI which really matters is that CFL personnel are well trained to handle emergency situations and in the event that one occurs they are able to react quickly and handle the situation. This was is the main goal of this training. If they achieve this goal the ROI for this effort will be achieved.
How do you measure ROI for your Learning Videos? We’d love to hear from you.