The Urge for Online Education is Rapidly Rising. Are Providers Prepared?
Oct 08, 2022
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The participation of edtech startups is continuously growing as 2020 saw the highest number of enrollments, after which education institutions launched online modes of education.
From kids to adult learners, everybody’s accessing online learning tools to boost their skills and enhance their knowledge from the comfort of their homes.
Indeed, the demand for online education is accelerating; however, it is also posing a challenge for the providers as the competition is increasing.
This is why, top edtech companies might begin by making bold and massive moves to leave an imprint on their audience.
So, What is Reshaping the Edtech Space?
Primarily, there exist four core market forces that influence the entire edtech space, including growing competition, higher quality standards, unification of big players, and invasion of investments.
As mentioned above, the market has become exceptionally competitive with the rising demand for online education. Not only this, but the providers are dedicated to introducing mechanisms that’ll help them acquire a solid consumer base.
Did you know?
The US venture funding for the edtech industry grew from $1 billion to $8 billion between 2017-21.
Are There Any Potential Growth Opportunities for Online Education?
Amongst the four market forces mentioned above, there are numerous budding and possible advancements for the course providers; however, it may demand some colossal moves for adopting the strategies.
For instance, learners that belong to healthcare or any other industry who want to polish their skills can kickstart their learning journey by signing up for digital education and courses.
Now, businesses looking forward to acquiring the attention of their potential students must distinguish themselves from their competitors.
Therefore, listed below are the five top-notch strategies for meeting the student needs efficiently:
1. Reconcile with Student and Market Needs
Traditionally, educational institutions have emphasized constructing knowledge and learning prior to building careers. However, now that student perceptions have changed, they are more focused on acquiring tremendous returns in the form of career opportunities.
Therefore, it has become more significant than ever for institutions to regulate the transitions for better preparing students for their future.
Thus, these institutions must amalgamate three actions:
- Alignment of programs with the market needs
- Provide multiple models for degree procurement
- Integration of degree and non-degree offerings
2. Reconstruction of Career Outlining and Coaching Methods
To offer students an improved and aligned career outcome along with a wider choice of placements, edtech institutions must persistently engage with the learners to help them meet their objectives.
Traditionally, students opted for courses and tried to bag good jobs before their graduation. But, don’t you think learners do this only when they are well informed of their career choices?
Sure; however, the model doesn’t support them entirely throughout their learning journey. Instead, it offers an educational experience that has a minute or no connection with the learner’s postgraduation conditions.
Edtech industry and institutions belonging to the same must provide opportunities enabling students to explore their interests. Incorporate a survey that captures students’ passion points, experiences, skills, and more to point them toward the best career options for them based on the given data.
It’ll not only help students develop a personalized model, but help them in their skill-building adventure!
3. Delivery of An Extraordinary Learning Experience
Upon conducting a survey in the US, it revealed that more than 20% of online learners pointed out the annoyance with edtech to be ‘real-time engagement.’
Therefore, to provide an efficient solution to the students in regards to the same, edtech institutions may have to enhance their digital experiences for exceptional content delivery. Not only this, but they may also have to emphasize the supporting tools, imply best practices, and whatnot!
In short, a user-centric platform must be developed along with an engaging teaching approach and a robust network that will help foster the well-being of learners.
How will you do so?
Connecting with Techugo- a leading elearning app development company that supports its clientele from the beginning to the post-development stage.
4. Frame a Differentiated and Bold Brand
Indeed, today’s world is highly competitive, and building a brand that stands out from the crowd has become more than important. Therefore, the top three strategies that digital education providers can incorporate into their marketing objectives are:
- A fascinating brand copy
- Marketing with a balance of media mix
- Building credibility by communicating the value of their courses
5. Remodelling Employer Alliance
Edtech providers are meant to build B2B collaborations with businesses that are looking forward to attracting new talent. Thus, it can prove to be a strong driver for growth!
Not to forget mentioning, the implemented B2B strategies may vary for organizations; therefore, listed below are some of the most innovative approaches that will help educational institutions rope in robust partnerships:
- Emphasis on career-oriented skills that can efficiently address learner’s objectives
- The development of extensive upgradation plans for adding talent to the team
- Filling talent gaps and higher ROI
To Sum Up!
While the five strategies could onboard immense growth, building an alliance of the five is likely to leave an incredible impact.
The unification of strategies is not enough. There’s a lot beyond that!
Building an applaud-worthy edtech platform also demands the enthusiasm to look beyond the restricted framework and introduce modern technologies that may enhance digital education.
So, how would you do so?
Indeed, assistance from an on-demand app development company is a must! So get in touch with a reliable team of developers and turn your long-awaited app idea into reality.
Happy innovation!