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How The Online Platform Makes Money in 2023



How The Online Platform Makes Money in 2023

Are you looking for a way to sharpen your skills and gain new knowledge? Udemy is an online learning platform with courses in almost every conceivable topic, from software development and personal finance to yoga and crochet. And the sustainability of the Udemy business model continues to drive innovation in how we learn, allowing students and instructors to connect and build expertise that can lead to career growth or lifelong learning.

In this blog post, we’ll explore what makes Udemy so successful and the range of benefits offered by its unique structure.

Overview of Udemy’s Business Model – How Does Udemy Work?

Udemy’s business model seems almost too good to be true; an online marketplace where people can access thousands of paid courses on a huge range of topics taught by the world’s best instructors – all at prices that won’t break the bank.

This inexpensive source of learning has become increasingly popular amongst students over the years, and it certainly sounds tempting. But how does the Udemy business and revenue model work?

Methods of Revenue for Udemy

It’s quite simple: Udemy allows everyone to sell their knowledge and skills in exchange for Udemy’s commission (plus any net revenue from each course sold). Once a course is published, buyers can purchase it, with payment taken via credit card, PayPal, or other reliable payment methods.

With more than 213,000+ courses on offer and over 57 million users across the globe, Udemy is becoming one of the leading online education providers.

The Udemy platform makes money through various revenue models, including tuition revenues from selling courses, paid acquisition, and Udemy for Business.

  • Course sales involve a 50/50 split between the instructor and Udemy on any sale made.
  • The paid acquisition piece of the Udemy revenue model involves buying advertising slots on other platforms, such as Google or Facebook, and charging instructors a 75 percent fee for each course sale.
  • Udemy also offers a personal subscription plan for individuals, giving access to thousands of courses.
  • Udemy for Business involves two subscription plans for companies, with pricing depending on the size of the team. These plans offer additional features such as custom categories and user groups, tracking user activity, and Slack integration.

All of these methods of revenue enable Udemy to expand its customer base and diversify its offerings while generating higher revenues.

Individual Course Purchases

Purchasing an individual course on Udemy involves creating an account and selecting the desired course. Once payment has been received, students have direct access to the content within their own personal dashboard.

Udemy Subscriptions

Udemy also offers a Personal Plan on an annual or monthly subscription service basis for individuals. This gives professional adults access to thousands of online courses they can take at their own pace, covering various topics such as IT and web development, soft skills, business, marketing & design.

Udemy Business Model - personal plan pricing

Udemy Business offers a premium subscription for companies and teams that unlocks additional benefits for Udemy business customers with unlimited access to courses, personalized recommendations, learner engagement stats, and employee training plans.

This additional feature allows Udemy to earn annual or monthly subscription revenue from users.

How Much Money Does Udemy Make?

According to Crunchbase, the Udemy business ecosystem reported $90 million in 2018 and $140 million in 2019. This shows steady growth over the years.

Additionally, Udemy has seen tremendous success in its funding endeavors, raising an accumulative $311.4 million from 16 rounds of investment! On October 29th, 2021, Udemy made its debut on the NASDAQ stock exchange under the ticker UDMY with an initial public offering of $29.00 per share.

Udemy’s total income for the third quarter of 2022 increased an impressive 22%, totaling $158.4 million! In addition, Udemy Business saw its revenue grow by a staggering 67% year-over-year and achieved Annual Recurring Revenue (ARR) of $350 million – demonstrating that it is well on its way to becoming a leader in online education and learning solutions.

Who is Udemy For?

Udemy is for anyone who wants to learn new skills and gain knowledge in various subjects. Udemy courses are created by instructors from all backgrounds and cover dozens of topics, such as programming, personal development, business, marketing, and more.

Through the Udemy marketplace, users can find short courses that will help them quickly develop the skills they need for their careers or hobbies.

The Udemy online platform is also great for organizations and businesses looking to provide employees with educational opportunities, as the Enterprise plan offers a centralized hub of learning materials.

Finally, Udemy is an excellent platform for those who want to become instructors themselves and share their knowledge with others.

Take a look at our article on how to make money on Udemy.

Udemy For Companies

Udemy Business provides learning solutions for organizations of every size, with access to 19,000+ courses covering a wide range of topics.

With leadership development programs and international course collections available, the platform provides insights and analytics to help businesses track user engagement.

Finally, customers can access 24/7 customer support with a dedicated customer success partner.

Udemy Business Model - business plan pricing

Udemy For Individuals

Udemy offers over 19,000 courses in various topics, such as Business Fundamentals, Entrepreneurship, Digital Marketing, Development, and Personal Development.

This learning platform also provides tailored recommendations for students to find the perfect course to suit their needs and interests.

With the Personal Plan, users can access 8,000 of Udemy’s top-rated courses at discounted prices with exclusive longtime-learner deals.

Udemy For Course Creators

Udemy offers the opportunity to share your knowledge with learners worldwide and gives you the support you need to become a successful teacher.

With their user-friendly instructor dashboard, creating courses is simpler than ever! Instructors are provided detailed guides that offer step-by-step instructions for making classes – as well as a helpful Instructor Support Team available 24/7 if clarification or feedback on test videos is required.

Udemy provides everything needed for teachers to deliver remarkable online learning experiences! Check out our article looking into how much Udemy instructors make.

Why Is Udemy Such a Bargain?

The Udemy marketplace business model means courses are affordable for several reasons.

  • First and foremost, they are created by individuals without the support of a larger organization or institution, which reduces the cost associated with producing a course.
  • Secondly, automated assessment tools such as quizzes help to eliminate manual grading costs.
  • Udemy often puts courses on sale to generate sales and create a sense of urgency and scarcity. This encourages potential students to take advantage of the discounted prices before they expire.
  • In addition, Udemy’s subscription plans allow businesses and organizations to purchase access to thousands of courses at reduced rates.

These strategies enable Udemy to offer customers high-quality courses without breaking the bank. It is no wonder that Udemy has become one of the leading online learning platforms in the world.

Udemy Business Model – Conclusion

Udemy is an online learning platform that allows instructors to create, share, and sell their courses to a huge audience.

It takes a 50 percent cut when users buy a course directly through the Udemy website and a 75 percent cut when they purchase it via paid acquisition channels like Google Ads or Facebook Ads.

Furthermore, Udemy offers a personal subscription plan for individuals as well as plans for teams called Udemy Business.

Udemy courses are relatively cheap due to the automated grading system and creating a perception of value and scarcity effects.

Additionally, Udemy has amassed an enormous total of $311.4M in investment capital over 16 distinct funding rounds, skyrocketing its potential to new heights. Udemy continues to expand into new markets and spend on product development.

Overall, Udemy provides a valuable e-learning platform for instructors to put their courses out there and make money while also allowing students to access an abundance of knowledge at affordable prices.

With the rise of online learning platforms offering more convenient options for education, Udemy is likely to remain a leading player in the space.

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How to Build Trust and Transparency With Your Customers While Taking Their Data



How to Build Trust and Transparency With Your Customers While Taking Their Data

Opinions expressed by Entrepreneur contributors are their own.

Innovation starts with identifying the outcomes customers want to achieve — which is why most companies rely on modern tools and technologies to acquire vast amounts of customer information for creating personalized customer experiences.

You need your customers to share their details, including preferences, to ensure you create a seamless, engaging and personalized customer journey. However, this need is at odds with the growing concerns surrounding customer privacy. Now, more than ever, customers are growing increasingly protective of their personal data.

According to a survey conducted by Gartner, consumers are less comfortable with brands collecting other types of data, including browsing history. Only 27% of respondents feel comfortable sharing information pertaining to their employment, financial data and personal health.

Users know the risks associated with their personal information fueled by various privacy breaches, data thefts and increasing regulatory scrutiny. Hence, businesses striving to innovate and meet customer demands must navigate the complexities of privacy protection since customers trust brands that value their privacy security.

On the other hand, the stringent privacy regulations, including the GDPR and CCPA, are even more concerning. These regulations demand businesses to collect, store, and manage customer data securely. Failing to adhere may entitle the business to pay hefty fines and even reputational damages.

In a nutshell, if a business wishes to jump on the innovation bandwagon, it can’t ignore the inherent privacy risks, especially when collecting vast amounts of customer data. Let’s unpack why businesses must be more vigilant about customer data security and privacy when innovating and learn how to navigate this complex landscape.

Related: Why Your Company Needs to Rethink Its Purpose to Acquire Loyal Customers — And Drive More Sales.

Why you need to innovate with privacy on top of mind

Delivering seamless user experiences is vital, but ignoring privacy security wouldn’t please your users. Stats reveal that users worldwide are more concerned about their privacy than ever and wish to do more to protect it.

On the other hand, when we see things from an organization’s perspective, they have a typical mindset of invoking technology’s true potential to innovate for improving user experiences. However, ignoring privacy and security could be the worst strategy in today’s business landscape, especially when your customers know the importance of their privacy.

No matter how unreasonable it may seem to prioritize privacy in today’s world, where data-driven decisions dominate, embracing privacy protection can eventually open up new avenues for growth and innovation.

Users are more likely to engage with digital platforms and applications when they trust that their privacy is respected and their personal data is secure. They love to share personal information, along with their preferences and participate in innovative initiatives.

Consequently, a deeper understanding of user preferences and needs helps businesses develop effective and targeted innovations.

Why ignoring privacy regulations will spell trouble for your business

The relationship between innovation and privacy is quite evident. As organizations navigate their technological advancement journey, privacy regulations guide them toward a sustainable future where innovation does not affect or compromise users’ fundamental rights.

Whether it’s CCPA or GDPR, every regulation guards privacy rights and protects organizations from legal obligations. Furthermore, organizations that cater to customers across the globe shouldn’t ignore the importance of adhering to various data privacy regulations, as failing to do so may entitle them to pay hefty fines.

What’s worrisome is that if your organization’s reputation is tarnished for not adhering to global privacy compliances, your potential customers won’t trust you and will inch toward your competitors with all the necessary compliances in place.

And regarding innovation, you can freely collect essential information about users, and they won’t mind if you adhere to the latest data privacy and security regulations.

Strategies for privacy-driven innovation

1. Prioritizing a privacy-first mindset

Organizations that don’t prioritize privacy at every stage of their product development and innovation initiatives will not be able to win customer trust.

Hence, it’s essential to lay the foundation of your product by equally emphasizing privacy along with other aspects, including user experience, usability, compliance and marketing. Collaborating development, security, user experience and marketing teams to emphasize privacy security is perhaps the need of the hour for every business striving for success.

2. Prioritize transparency tactics — communicate clearly, win trust

If you establish clear communication with your customers regarding data collection, usage and protection, you can quickly win customer trust and loyalty. Most customers are reluctant to share their personal information just because they aren’t sure why an organization is demanding it in the first place.

Once they’re comfortable sharing essential information, you can use this data to drive meaningful innovation, such as offering personalized recommendations, suggesting products/services based on their preferences, and more.

3. Tap the potential of technology

Embracing cutting-edge privacy-enhancing tools and technologies can help you navigate your innovation journey seamlessly. Using robust privacy management tools, identity management platforms and multi-factor authentication can eventually help build lasting customer trust and loyalty.

Furthermore, using cloud platforms to scale rapidly would further enhance user experience without compromising security.

4. Optimize data collection

A data-minimization approach in which organizations collect only essential data and maximize its value helps deliver impactful results. Admit it: No innovation is possible without knowing what your customers want and their pain points. Effectively analyzing essential data can help boost targeted innovation efforts, ensuring impactful outcomes.

5. Skyrocket innovation with powerful partnerships

Last but not least, collaborating with privacy experts, regulatory bodies, and industry peers to exchange knowledge and best practices can accelerate your innovation efforts. Businesses can embark on an innovation journey flawlessly through collective support and expertise.

Related: This Unique Marketing Strategy Is Winning in 2024 — Here’s Why (and How You Can Implement It Successfully)

Navigating the nexus of innovation and privacy

While navigating the innovation landscape, organizations shouldn’t overlook the undeniable nexus between innovation and privacy. Hence, ignoring privacy while pursuing innovation could hamper customer trust and lead to legal obligations.

Emphasizing a privacy-first mindset, coupled with transparent communication and technological advancement, are undoubtedly pivotal strategies for unlocking the true potential of innovation while safeguarding customer privacy.

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How to Determine The Ideal Length of Your Marketing Emails Your Customers Will Actually Read



How to Determine The Ideal Length of Your Marketing Emails Your Customers Will Actually Read

Opinions expressed by Entrepreneur contributors are their own.

Email marketing is booming: last year, 52% of marketers said their campaign’s return on investment (ROI) doubled, while 5.7% of marketers experienced an ROI four times larger compared to 2022, a Statista report shows.

How can you create similar results for your business this year?

The effectiveness of email marketing comes down to a few key factors:

  • Knowing your audience and its pain points and desires.
  • Creating emails that respond to those specific needs.
  • Getting your emails in the inbox, where your subscribers can interact with them.

As the CEO of a B2B email marketing company, I often hear from customers about their top challenges. A big one? Creating emails that really engage and drive results. Getting the content, length and audience targeting just right is tough.

Related: How to Get People to Open – And Read – Your Emails

Most of your prospects prefer shorter emails

If you’re struggling to make your emails more engaging, here’s an aspect you may be overlooking: just make them shorter. Recent data from a ZeroBounce report shows that 66% of consumers prefer short emails, and only 6% favor longer ones.

But keep this caveat in mind: For 28% of people, email length becomes irrelevant if the content is well-tailored to their needs and interests.

It’s no surprise that people prefer shorter marketing emails. When inboxes are clogged with messages, why would you opt for a long message instead of a quick note? Concise and direct emails respect your prospects’ time and have a higher chance of getting their attention. But while most people prefer brevity, the quality and relevance of your emails are what truly capture and retain interest.

The message is clear for the 28% who don’t mind the length: When an email resonates well with their needs or interests, they’re willing to invest more time, regardless of word count. This segment of your audience is receptive to more in-depth content that speaks directly to their challenges.

How to determine the right email length

So, how do you strike the right balance between brevity and substance? The key is to start with understanding your audience. Segment your email list based on behaviors, preferences and past interactions. This segmentation allows you to tailor your messages more precisely. Also, you probably send different types of emails. That aspect alone should guide your approach:

  • Newsletters can be longer and cover several pieces of information in more depth.
  • Drip campaigns can consist of a series of emails that gently push your prospects closer to a purchase. Those emails can be short — sometimes, a few lines followed by a call-to-action (CTA) is enough.
  • Targeted campaigns, such as a discount or free offer, can have an engaging image paired with a couple of sentences and a catchy CTA button.

If you’re still unsure whether your email is too long, here are a few tips to save you time and make things easier.

Start with a clear goal

Every email should have a clear purpose. Whether it’s to inform, increase engagement or drive sales, your goal will dictate the necessary length. Don’t add fluff just to extend an email; keep it as long as necessary to fulfill its purpose.

Choose simplicity and clarity

Use simple language and clear CTAs. Marketing emails rarely benefit from any metaphors. Your email should guide readers smoothly from the opening line to the desired action without unnecessary detours.

Personalize to the last detail

Use what you know about your customers to tailor your emails. When marketing emails feel personal, people care more about the message and less about the length.

Test and adjust to what your audience likes

Studies can point you in the right direction in terms of consumer preferences, but only you can determine what your audience responds to the most. Before sending your next email, consider A/B testing different lengths. Then, analyze your metrics to see what performed best.

Improve your layout

Sometimes, the way information is presented can affect how we perceive the length of an email. Breaking text with relevant images or using bullet points can make longer emails appear more digestible and engaging.

Related: 4 Things You Can Automate in Your Email Marketing That Will Save You Time and Drive Sales

Ask your subscribers

Asking for opinions shows you care about serving your audience better, so why not include a poll in your next newsletter? Allow your subscribers to tell you how long they’d like your emails to be. Nothing beats direct customer feedback in helping you create more effective campaigns.

Bonus tips to increase email engagement

Here are a few extra tips to help your next emails get more clicks:

  • Try to keep your subject lines between 30 and 50 characters. Not only will your subscribers process them faster, but keeping your subject lines short ensures they display well on all devices.
  • Check your email list health to avoid bounces and the likelihood of landing in the spam folder.
  • Assess your spam complaint rate – it should be under 0.1% to comply with Yahoo and Google’s new email-sending rules.

Also, remember your goal is to connect with your audience genuinely, no matter how many words it takes to get there. If your email ends up longer than you’d planned but addresses a topic many of your subscribers care about, don’t worry. Engaging content can often justify a longer read.

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Get $60 off This Portable VPN Travel Router



Get $60 off This Portable VPN Travel Router

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

More than 50% of ransomware attacks targeted companies with fewer than 100 employees (according to StrongDM), so it’s important for businesses to use powerful VPN services. The problem is that the monthly fees can add up. Now, however, you can get robust portable VPN protection with a Deeper Connect Air Portable VPN Travel Router.

This physical device provides encrypted browsing and is completely decentralized. So, while you have the advantage of using more than 150,000 servers, no data is stored on any of them. It has a compact design and weighs just under an ounce, so you can take it anywhere. Once you buy it, it’s yours for a lifetime, with no annual or monthly fees.

The plug-and-play setup is effortless; no configuration is required. You can connect up to five devices simultaneously, with each able to enjoy unlimited streaming of favorite content around the world. The VPN blocks ads and unlocks geographical restrictions. There are also parental controls to keep your children safe online with a single click, as well as enterprise-level cybersecurity features, including military-grade encryption for maximum protection.

Unlike many VPN solutions, the Deeper Connect VPN travel router doesn’t slow down your internet speed. Its 300 Mbps connection and more than 80,000 worldwide nodes allow you to seamlessly stream anything you like at lightning-fast speeds, no matter where you are. Better yet, it has intelligent software that will switch nodes depending on your internet usage, utilizing multiple nodes simultaneously to support different applications.

It works as Web 3.0 infrastructure and for Blockchain mining. It’s the ultimate all-in-one internet security solution.

Get a Deeper Connect Air Portable VPN Travel Router for just $159 using coupon code: CONNECT, a 27% discount off the regular $219 retail price.

StackSocial prices subject to change.

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