Edtech startups are now trending news nowadays.
Some are on headlines for employees’ layoffs, while others are for acquisition or permanent shutdown of their business.
We all have witnessed how Edtech companies have drastically boosted their business. During the covid19 pandemic, tech giant companies were laying off their employees due to the global recession, whereas few other sectors, including Edtech companies, were packed in hiring employees.
If you Flashback to those days, you will say those are the golden days for all Indian Edtech companies.
Over 14 startups have raised around $4.7 billion in funding amid the covid19 pandemic, along with three Indian startups that entered the unicorn list. The massive growth had made Edtech space the third most funded Indian startup during corona.
But after two years of blistering growth, there seemed to be a shrink in the transition of Edtech startups, when there was a mammoth decline in the number of covid cases followed by the reopening of educational institutions.
Edtech companies witnessed a change in the registration for their online courses because the parents seemed to be less interested in spending on online platforms instead of offline medium.
As a result, Edtech suffered a recession followed by a massive layoff. Even some startups that received funding during the lockdown needed to shut down their business activity due to financial loss.
The segment that attracted several worldwide investors two years back seems lagging currently.
If we go in-depth about the matter, it’s not the global recession only responsible for this present scenario in online learning. But some technological and marketing strategies were didn’t implemented before.
However, few Edtech companies have executed those technologies that help them stick in the competition and impact of the global recession.
If you are in the same industry, it is one of the must-read blogs for you.
We will discuss all those technological advancements, including marketing strategies that help your business find customers and keep growing.
Modern Technology that can make EdTech powerful:
Growing technology has reached the root of every industry. The technological revolution has always found innovative ideas and business models that give fruitful results to companies.
The education industry no longer remains untouched by the influence of technological advancements.
Next-gen technologies, like Artificial Intelligence, Machine Learning, and Augmented and Virtual Reality, have portrayed their potential in the learning space.
However, in India, few companies have implemented while in countries like the U.S., these cutting-edge technologies are making an indelible mark in the Edtech sector.
Artificial Intelligence (AI) & Machine Learning (ML):
We all know how AI efficiently replicates intelligent human behaviours like analyzing and making decisions.
From voice assistants to customer support chatbots, currently, AI is everywhere. If we talk about the EdTech landscape, it plays a vital role.
To know in-depth about the application of AI in online learning, first, you need to know about machine learning.
Machine Learning is an extended application of artificial intelligence that provides systems to learn from experience without being programmed to perform a particular function.
Edtech companies use machine learning to differentiate themself by manipulating new technology and exploring its potential. With further advancements in machine learning, this trend can bring more changes to the system of the education industry.
There are three types of machine learning models:
(a) Unsupervised model:
These algorithms define data according to its structure, features, and densities, among other things. It involves training without labelling or classification of the data.
(b) Semi-supervised model:
This algorithm is involved in situations where data are partly labelled, and the primary data set is not determined. Semi-supervised machine learning uses labelled data to help classify unlabeled information.
It involves multiple applications in the Edtech industry, like predictive analysis and data mining.
(c) Supervised model:
Supervised machine learning algorithms make decisions based on new or previously collected data. The ML algorithms predict the situation and automatically take action using this data.
For example, Let’s say the algorithm working in lead filtering recognizes the junk leads and pushes them into the spam folder automatically.
Application of AI & ML in the Edtech Industry:
For those who doubt the use of machine learning in the education industry, there are multiple ways AI and ML can transform their landscape.
It can enhance the experience of learners and educators in different ways. Let’s know about some of its applications.
(a) Predictive Analysis:
As the name suggests, Machine Learning can predict the career suitable for you by analyzing your past and present data.
There was a time when a teacher used to forecast students’ careers based on their academic marks. As a result, it affects the morality of a student.
However, the excellence of students can’t judge by their academic scores. Everyone is unique in some ways.
Edtech startups can leverage machine learning by implementing a predictive analysis-based learning platform.
For example, A student enrolled with a high school package for three years. For the past three years, that particular student has scored well in history and geography rather than mathematics and science subjects. By analyzing his overall records, machine learning can suggest suitable careers for the student. Additionally, it will frame proactive strategies that help to perform better in the upcoming examinations.
It enables the student to score good marks on his exams and even encourages them to focus on the new opportunity they can go in future.
(b) Process Efficiency:
To optimize the system properly, Edtechs even needs to focus on educators. Its clear students can perform well when the teacher teaches well.
To bring more efficiency to the efforts of the teachers, the use of machine learning is necessary.
Those days were hectic when teachers used to prepare and maintain course planners for their students. To reduce administrative burdens for educators, now machine learning can systematically organize logs and manage their daily planners.
Moreover, students don’t need to wait for an educator to clear their doubts. The ML-based platform will automatically assign appointments based on the student and educator’s fixed schedule.
It is one of the best ways of management, where the teacher and student can primarily focus on their respective duties.
(c) Smart Tutors:
No doubt technology has reached a peak at present. If we still rely on the traditional way of learning, it’s boring.
It is one of the reasons why online platforms fail to grab learners’ attention. Machine learning has come with innovations to deal with this scenario.
Education is slowly and steadily experiencing the rise of advanced tutors, where the platform provides the student with Augmented and Virtual reality devices.
It could be the best way to boost students’ performance by making them understand virtually.
Additionally, it can help Edtech startups to stay ahead of the competition.
Marketing Strategies that Edtech startups should not miss.
Apart from implementing innovative technology, marketing strategies are must needed to reach and find new customers.
Although students are the users’, parents are the prime customer who provides their children with your platform.
Several Edtechs commits mistake when they run any ad.
Check out some of the marketing ways that can help your business.
Must read the blog: Online Advertising Strategies: 5 Tricks To Improve Your Sales
(a) Search Engine Optimization:
We all know the popularity of google nowadays. For every doubt, people come and ask google before asking it the concerned person.
Here is how you can take leverage SEO. You can have a competitor analysis and focus on those keywords that you think your brand is better than them.
(b) Video Marketing:
Video Marketing is one of the best ways to promote your product. Long back, few platforms allow showcasing videos.
Now along with youtube, several platforms enable you to show your video in reels.
It increases your engagement on your digital and social channels, educates your customers and reaches your audience with a new medium.
(c) Content Marketing:
“Unique content can find its audience.”
It’s not like video and graphics are the best way to attract customers. Even good content can find several audiences.
Content marketing is a strategic approach focused on creating and distributing valuable, relevant, and consistent content to attract customers.
There are many question-and-answer websites, like Quora, Answers, and AnswerThePublic, where you can get to know multiple questions asked by users based on your niche, and accordingly, you can create your content.
(d) Email Marketing:
Email Marketing is a powerful marketing channel that uses email to promote your business product.
It’s a direct channel that allows you to send offers, discounts, and updates via mail to your cold and prospective customers.
Moreover, you can promote your content through the mail.
Read: What Is Email Marketing & Why Businesses Need It?
(e) Social Media Marketing:
As per a report, there would be around 4.00 billion social media users across all the platforms.
Looking at the above numbers, you can imagine how it’s gaining popularity.
You can use social media platforms to interact with customers to build the brand, increase sales, and drive traffic to your website.
Read: How social media can help you in your business growth.
How can we help you?
As a software development company, we are experts in all aspects of development. We have an excellent team for intelligent automation services like big data, machine learning, artificial intelligence, the Internet of Things, and others.
On top of that, we have an excellent team in digital marketing. Our experts can help you with effective marketing strategies to make your brand successful.
In five years of service, we have dealt with several Edtech startups and helped them achieve their funding round.
Wrapping Up:
The technological advancement of Edtech and the way it connects students and teachers is truly revolutionary. With the continuously developing use of AI and ML, better education methods are being developed day by day.
The new generation tools are aiding educational institutions in connecting with a large number of students. At present, online learning and online tutoring have gained traction in a large number of schools and colleges around the world. This facilitates easy studying through the help of artificial intelligence in digital industries.
Educational institutions are leveraging their resources to enhance effective learning by dismantling all the hurdles faced by students in an arduous and long learning experience.