We are very pleased to share that Gartner, the leading global provider of independent and objective technology related research and advice, has published a case study focusing on Livemocha. For anyone who is interested in, or is curious about how the business of elearning is changing the face of education, this is a great read (the fact that Livemocha is the subject of the study is icing on the cake.)
“The general intention of this case study is to inspire and add several new perspectives, tools and potential revenue streams — in short innovative business models — that can help traditional institutional players reform and stay competitive in the expanding education ecosystem.
“To put things in perspective, Livemocha can be seen as a sustainable business model evolution for MOOCs, where students come and learn a topic at their own pace from masters of that topic, instead of centering it on a company and separate courses (or even geographical sites, such as campuses in the case of traditional institutions). It is interesting to note that Livemocha existed before the MOOCs entered the stage.” 1
To read the full case study, analysis, and recommendations for educators and CIO’s, click here.
“Phenomena, such as Livemocha, Khan Academy and… MOOCs, show that information abundance and death of distance… are changing the basis for many institutions’ existence.”
Highlights of the study include:
A close look at three steps that demonstrate how Livemocha has made effective innovations with our business model that benefit language learners and educational institutions.
Livemocha Business Model Innovation Step 1
Establish a social website with some simple tools to facilitate language learning, such as basic flashcard-based language lessons; quiz tools; recording tools; text, audio and video chat tools; crowdsourcing of translations; and content.
Livemocha Business Model Innovation Step 2
Introduce brand quality content in five languages by teaming up with publishers of language textbooks. Mash up the textbook content with the social learning environment, and charge either a yearly flat fee or a monthly subscription fee to access the premier content modules.
Livemocha Business Model Innovation Step 3
Introduce accredited teachers for a fee to engage in both asynchronous (for example, correcting homework) and synchronous (for example, live virtual classes) language learning.
“… the education ecosystem is ripe for disruptive innovation”
The study then goes on to analyze six areas of our business with corresponding ‘Key Take-Aways for Traditional Education Institutions‘.
Ideate: Combine Old Practices With New Technology for a New Business Model
Create: Leverage Others’ Strengths
Engage: Engaging Is the Business Model
Offer: The “Topic” Community Is the Service
Monetize: Create Many Revenue Streams With Low Thresholds
Adapt: Adapt Often and Quickly, Never Losing Sight of the Job to Get Done
1. Excerpt from Business Model Innovation Examples in Education, Gartner case study, Livemocha January18, 2013.