The startups have seen a 10%-20% decline in cost of customer acquisition
What do you see most on social media these days besides looking at old vacation pictures and reminiscing about those days! It’s an ad. But not of a shampoo or a make-up product instead ed-tech firms have taken to social media to promote learning. Ed-tech firm Byju’s claims a 60% increase in the number of new students using the app to learn from home on a daily basis. “The number of queries from students and parents for our home learning programs have more than doubled in the past week across both metros and non-metros,” Divya Gokulnath, co-founder and director, Byju’s told BrandWagon Online. Post the spread of the novel Coronavirus ed-tech platforms have provided free access to its content till the end of April.
According to industry analysts, ed-tech brands are leveraging the ease of access, availability and free content to drive more consumption on their platforms. “The key here is to get more engagement initially and create a loyal consumer base by providing valuable content on the platform,” Jagdeep Kapoor, chairman, Samsika Marketing Consultants, said.
Besides, provision of free learning has resulted in a reduction in the cost of acquisition of students. This means that the cost of marketing has gone down as these platforms are currently only advertising on social media platforms. “We have seen a 10%-20% reduction in our cost of acquisition, owing to the increasing demand for the content on our platform,” Abhay Gupta, co-founder, Board Infinity said. Last week, the career-tech startup launched a campaign #learnsafeonline for students and jobseekers which allows them to enroll in a certification programme by paying a nominal amount of Rs 10 towards coronavirus relief fund. The platform claims to have received approximately 400-500 organic leads each day post the roll-out of this campaign.
Bangalore-based live e-learning platform Vedantu, too affirms it has seen a surge of 52 times in the number of users. “Typically every month, we would add around 3,000-4,500 new students. In the last four to five days, post providing free access we have been receiving applications from 3,000-4,000 new students each day,” Vamsi Krishna, CEO and co-founder, Vedantu claimed. Further, Gradeup too claims to have witnessed an uptake of around 25% in enrollment numbers. The platform recently announced the launch of free classes for students from eight standard to 12th standard.
This value-creation approach will further help these platforms in gaining sticky consumers who can be monetised in the long-run despite the circumstances. According to Kapoor, once the current situation stabilises, at least 35%-40% consumers are expected to be converted into continuing users using edutech in addition to physical classrooms.