You’re not alone if you experienced sticker shock while shopping for an LMS. Most organizations spend more than expected for an average of $70, 614 annually on their learning management system (LMS). At that price, you might be wondering if you’re better off building your own.

You bought a learning management system (LMS) to store all of your association’s educational products.

Leading education and training companies are constantly seeking for ways to help learners succeed, increase high margin revenue, and improve participation rates. In conjunction with these high-stake goals, they are are also striving to keep up with the needs of today’s modern learners and their expectations for strong digital experiences.

For today’s workforce, learning is a lifelong process. Whether these workers need a license to practice in a certain field or are pursuing a certification to advance their career, credentialing exams are a part of the modern professional journey. While these learners have traditionally had to squeeze prep classes into their packed schedules, the shift toward digital learning is making credentialing prep more accessible, convenient, and effective.

Once the singular source for cutting-edge knowledge in their arenas, today’s associations are battling membership loss and declining sponsorship revenues. Paying close attention—and adapting to—these trends will help keep associations relevant and able to meet their members’ needs.

Many professionals join associations for their educational opportunities. And, currently, many associations remain rooted in "knowledge-based learning" which focuses on what someone "knows" about their profession/knowledge area. It comes from formal education and isn't always the best approach.