If you’re an Edtech player, a rapidly growing industry will test you. The right marketing platform key to passing with flying colours!
Learning is fun they say, always has been! The Edtech industry is part of a revolution that is democratising knowledge – making learning accessible and fun for a growing community of global learners.
And, the ease and pleasure of learning has grown by leaps and bounds at the rapidly evolving cross-section of education and technology – EdTech!
Growing at almost 17% per year, the global EdTech industry is transforming a traditional industry, appealing to newer audiences in the quest to deliver optimal value.
With the ever-expanding usage of internet and smart devices, every EdTech platform has the potential to go global, and any student or teacher located anywhere can access these platforms.
Online virtual classrooms, digital learning solutions, video courses, live streaming – the list of innovative ways to learn continues to grow. This has given rise to EdTech companies that are exploring and experimenting with multiple business models to maximise their ROIs.
Before we delve any deeper, it’s important to highlight the various stakeholder personas that EdTech companies cater to: teachers, students, parents (in several cases), the platform manager, and content producers. Breaking away from the traditional educational set-up, these Edtech players have their own particular challenges at every stage of the user lifecycle.
Main challenges EdTech companies face are as below:
- Acquisition: To enhance lead generation and management
- Conversion: To encourage leads (including anonymous users) to register and enrol. Make the entire onboarding process seamless and highly personalised
- Engagement: To keep users engaged with relevant and timely communication
- Retention: To open up further monetisation opportunities through upsell and cross-sell. To increase the Customer Lifecycle Value or CLV through strategic marketing.
In order to deliver satisfactory user experiences at scale, EdTech companies need to adopt a data-driven approach to bridge the gap between actionable user-specific analytics and relevant engagement.
Let’s take the hypothetical example of an Edtech player called LearnZone, which offers an online learning solution to provide coaching for senior school and for competitive entrance exams. It chooses to leverage an AI-powered growth marketing platform such as Netcore Smartech and its use cases are as follows:
Use Case #1: To improve lead generation and user acquisition process
Teachers and students alike land on the lead generation landing page through multiple acquisition sources like social media, cold email marketing, display ads, search engine, etc. They sign up by submitting a lead generation form. To confirm the registration, they need to verify their email ID and mobile number.
In such a scenario, LearnZone can design an automated workflow to send hyper-personalised content at the right time to nudge the student to complete the sign-up form and verification process. Similarly for the teacher.
Use Case #2: LearnZone wants to encourage signed-up students appearing for their Board exams to upgrade to their Premium Plan
With a consolidated unified view of each user at its disposal, LearnZone can instantly define and create segments for the users who would be appearing for their Board exams. Furthermore, smart segments can be created based on their browsing history. For instance, students can be segmented into those browsing course content related to engineering entrance tests, or humanities-related courses.
LearnZone can then use Actionable analytics to slice and dice these user segments, and set up the foundation for the creation and delivery of personalised and contextual multi-channel campaigns.
Use Case #3: LearnZone wants to increase app adoption and user engagement
While app downloads indicate an uplift in user acquisition, it isn’t the only metric that determines success. App usage and time spent in-app determines user engagement.
To understand its app users’ levels of engagement, LearnZone can employ a dynamic analytical feature – Cohort Analysis. Using an Acquisition Cohort, the company can analyse how many teachers and students return to the app since the app install, over a time-specific period. The trend then can indicate what it needs to focus on to ensure the onboarding experience is good enough to retain existing users.
Based on these insights, LearnZone can craft contextualised campaigns that can be delivered through diverse channels such as push notifications, emails, or SMS. App relaunch can be incentivised by providing updates on new courses/tests added to the library, tips and tricks to ace exams, relevant resources for reference, discounted packages, etc.
This is how EdTech companies can enhance their user engagement using web as well as app engagement strategy for best results.
Netcore Smartech can help you grow your student and teacher engagement rates, course completion and subscription rates, as well as up your app ratings.
Try it out yourself – schedule a demo today!