Online education technology has undergone a paradigm leap since 2021, and this trend is expected to continue. In this webinar, industry professionals:
- Rahul Maheshwari, EdTech Marketing Expert
- Annum Sadiq, Co-Founder, Edkasa
- Raj Parmar, Team Lead-SMB Sales, LeadSquared
Will go in-depth into market trends, practical tactics for improving sales performance, and the future of EdTech.
What is the EdTech industry’s response to COVID-19?
Some are wondering whether the acceptance of online learning would continue to endure post-pandemic and how such a shift would affect the global education sector considering the abrupt move away from the classroom in many parts of the world.
Many online learning platforms are providing free access to their services in response to overwhelming demand, including BYJU’S, the world’s most valuable edtech company. According to Mrinal Mohit, the firm’s Chief Operating Officer, the number of new users of BYJU’s Think and Learn app has increased by 200% since the company announced free live classes.
After covid, EdTech as a field has become more obvious. In 2020 alone, globally, EdTech companies raised north of $11 billion. And K12 has become quite mainstream with live classes becoming a very popular format.
The rising customer acquisition challenges in EdTech
In India, many companies are bidding for the same users, which has led to an increase in the cost of user acquisition. Therefore, scaling up has become very difficult for EdTech companies. Most of the funds are being used in Facebook, Google Ads—despite the higher cost of customer acquisition.
It is easy for new companies to start an EdTech company using Zoom to deliver online classes. The main challenge is attracting students and getting them to buy the classes. One way to address this is to focus on building exclusive access to users instead of just relying on social media platforms to market and attract potential customers.
How to reduce customer acquisition costs in EdTech
The market is more uncertain, inflation is high, and interest rates are increasing, which will raise the cost of capital and dry up some funding.
It’s important to look at the contribution margin metric and the variable cost that companies incur. Another way to reduce CAC is to build your own distribution channels and give something of value to the user.
Next, to reduce the CAC, EdTechs can focus on the trending technologies and use them to improve learning outcomes.
What’s trending in EdTech
Initially, EdTechs had to work on creating awareness around online education. But now, over the span of five years, and since the COVID-19 pandemic, things have changed. For good.
Companies have started using technology to understand users better.
We’ve come a long way from Zoom calls to Metaverse. These innovative technologies can give a competitive edge to EdTech players and sustain their hold in the market.
Another thing to note is, data is of the utmost importance in today’s time.
For example, Edkasa went down the funnel and started working on what was happening in their app, understanding the user data.
There are many CRMs out there and then we also created our own, that’s not the hard part. The real hard part is that LeadSquared works with industry experts, is experienced and is committed to your success. That’s what really helped Edkasa and LeadSquared Partnership.Annum Sadiq, Co-Founder, Edkasa
How LeadSquared helps with the admissions process
With the help of the LeadSquared portal builder, you can automate the entire admission process. The implementation of a unified online system for student information management, admissions tracking, and payment processing has had a positive effect.
LeadSquared has been helping many Edtech organizations like, BYJU’S, Unacademy, Cuemath, upGrad, ITLH, Stride Ahead, Kafqa Academy and many more. This has made LeadSquared one of the biggest EdTech marketing solution providers in the world .
With the help of LeadSquared, EdTech companies can streamline two of the very important departments in an organization that is sales and marketing .
LeadSquared provides out-of-box integrations with external applications like Facebook, Instagram, Google, Collegeduniya, Shiksha and many more. These integrations automatically capture inquiries from multiple sources and give you all information in a single format in a single database place.
You can also automate student journey tracking and salesprocesses with LeadSquared. Book a quick demo to learn more about it.
Once you reach a scale where you find it difficult to grow online, you may need to go offline to solve for growth. You can create a benchmark that you need to reach a certain number of users offline.
Marketing agencies can help companies solve marketing problems in a short span of time. Having the marketing function in house can help companies have control of the CAC.
EdTech Marketing Expert
Rahul is an investor based out of Bangalore, India. Previously, he has spent time in China and SEA working with consumer internet companies for their market entry and growth. He has a keen interest in EdTech, and actively publishes the same on his personal blog. Rahul started his career in consumer internet and spent time in China, SEA, and India. Currently investing in early-stage companies with BEENEXT.
Annum Sadiq leads the education design and delivery at EDKASA. She has extensive experience with education policy reform both in Pakistan and the US. She has previously worked with Education Pioneers, Chelsea Public Schools, USAID, Jinnah Institute, and Punjab Education Sector Reform Programme. Annum holds a BSc. (Honors) degree in social sciences from LUMS. She is also a Fulbright Scholar and holds an MSc. in Public Policy from Carnegie Mellon University.
Team Lead-SMB Sales, LeadSquared
Raj Parmar has a history of working in the Media & IT industry. The journey has been prolific for Raj as he started from being a field sales representative to being a full-time solution specialist for LeadSquared. Apart from being a great product advisor, he has been excellent in terms of understanding the problem statement and sharing a perfect solution for the same. Raj has always been driven by how he can add value with an excellent understanding of business, people, relationships & networking.