Amidst the booming ecosystem of startups, one can get complacent and take things for granted. MNCs and tech-giants secure all the headlines to give a false idea of competition that exists in the world of entrepreneurship. As per Get2Growth, there are more than 472 million startups and is a clear-enough indicator of the current market contention.
A fierce rivalry for innovation and novelty has propelled the agenda of ed-tech startups too. Inclination towards digital education is no longer restricted to academics and degree courses. According to Daxx, more than 98% of US businesses are planning to adopt ed-tech and e-learning platforms by 2022.
So, how can your ed-tech startup prosper against already-existing enterprises?
Here's a list of 5 actionable marketing hacks to mark the path for global success:
1. Smart Market Research
Jumping straight to execution without the in-depth knowledge of your competitors and consumers is the perfect recipe for an open-and-shut startup. It's critical to begin with smart business research which will give you insights into the dos and don'ts of various market trends. To optimize your research, you can plan "how" and "what" you'll analyze beforehand.
Don't go overboard with data and ensure that you always work on tangibles without worrying about the non-controllable. You can accordingly formulate a content calendar comprising the list of awareness and promotional chores. Innovative ideas (like events) that target the youth, work wonders for your venture when executed to perfection.
2. Promote Brand Collaborations
An ed-tech startup is different from other businesses when it comes to the aspect of responsibility. For example, if your portal educates medical aspirants, a lot can go wrong if incorrect information is delivered. So, cut-short the humdrum of your product and advocate your values to the intended audience.
While promoting your brand across multiple channels, ensure that you positively promote associated collaborations. Thorough research helps in understanding the real-world USPs of an ed-tech startup too. Your content marketing strategy takes over from here.
3. Leverage the FOMO Technique
FOMO or "fear of missing out" is a modern strategy that creates an urge in your target audience. It leads the users to make a decision in your favour. Referral campaigns, early-bird offers, a giveaway for attendees, etc. are a few ways to implement FOMO on your audience.
A report by TrustPulse informs that of all the leads attracted via FOMO, 60% convert within 24 hours. So, you can plan and execute such business hacks to secure a large part of your convertible audience.
4. Organize Special Events
The scale of your event depends completely on your budget. If you're ready to invest heavily in events, you can organize mega launch events. However, most startups prefer to do it the humbler way. You can schedule a digital launch of your ed-tech venture and set up multiple small events for awareness.
Since your vision is to explore educational technology, you can plan free giveaways of books, ebook subscriptions, etc., to the attendees. Treat them sincerely because they would be your word-of-mouth marketers in the future, and no investment can buy it.
5. Attack on Competitors' Shortcomings
After polishing your venture's goals, values, and offerings, focus on the weak aspects of rivals too. Make a list of complaints that your competitors receive and try to solve them through your startup.
Market those solutions effectively to attract the audience and create a buzz for your startup in the initial phase. Ensure that you keep up to your promises to strongly walk the talk.
Thanks to the digital revolution, the ed-tech industry continues to garner attention from various industry sectors. To make a name for your ed-tech venture, you can begin with descriptive research of the market. After getting these insights, smartly promote your vision and USPs to your intended audience.
Innovate your marketing campaign through FOMO technique to secure immediate conversions. Expand your reach through special events and introduce a flawless model in the marketplace.
How would you spread awareness for your ed-tech startup? Any other smart hacks that we missed? Post it all in our Guest Blogs section. Click here to know more.