FUNDAMENTALS OF EQUIPMENT LEASING Certification Training
The Client
The Equipment Leasing and Finance Association (ELFA), a leading organization providing invaluable industry insights, support, and comprehensive training to its members, approached Designing Digitally with a significant challenge. ELFA sought to revamp its online training course catering to individuals new to equipment finance.
The content needed to be dynamic, easily updatable, and engaging for those embarking on their journey in equipment finance. Explore how Designing Digitally revolutionized their learning experience in this success story.
Training Sneak Peak
The Challenge
ELFA faced the challenge of modernizing its online training course to meet the needs of a diverse audience with varying levels of industry familiarity. The content needed engaging, digestible for those with minimal industry background, and adaptable to evolving industry regulations. Moreover, ELFA aimed to extend the course’s shelf life by ensuring easy updates.
The solution
Designing Digitally collaborated closely with ELFA to address these challenges. The solution involved breaking down the content into seven micro lessons, each focusing on a specific topic, such as transaction lifecycle phases, accounting, and finance law. These micro lessons were designed to be 8-10 minutes each, allowing learners to choose their sequence and avoid redundancy for more experienced employees.
Complementing the micro lessons is a simulation-based game titled “Be the Boss.” Players assume the role of a new employee at Strategic Equipment Leasing and Finance (SELF), engaging in activities mirroring on-the-job duties like sales, creating price quotes, and identifying collaboration points within the company. Learners earn rewards and upgrades by progressing customers through the lifecycle, reinforcing sales skills and attention to detail. Struggling with an activity directs learners back to the relevant micro lesson for review.
The IMPACT
The results of the collaboration have been outstanding. ELFA is successfully selling licenses for the updated course, surpassing initial expectations. On the first day of release, a single organization purchased 100 licenses, expressing interest in expanding to 1,000. With the potential to reach thousands of employees through ELFA’s member companies, the Association has achieved almost $87,000 in license sales, boasting an impressive 80% return on investment in just two months. The updated course has not only met but exceeded the needs of ELFA’s members, showcasing the power of innovative, engaging, and customized training solutions.
If you are interested in learning more about this project and how you can leverage technology to train your workforce and reach new business goals, get in touch with our team to start a conversation today.
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