The EdTech industry is one of the growing industries and it is expected to touch USD 4 billion in the next 3 years.
These EdTech companies are relentlessly trying to provide a seamless quality learning experience and various relevant courses for kids and adults.
But as online education is yet in the adoption stage in our country, there are many challenges this industry battles to establish its ground.
Let’s take a look at major challenges of the EdTech industry in India, and how We360.ai-, a leading provider of employee monitoring software, helped an EdTech Giant to improve its bottom-line.
What are the challenges of EdTech Companies?
Our client has more than 1200 courses including academic courses as per the class grade, professional courses such as Risk analysis, diploma in hospitality, Python, data science, and many new skills to upgrade the knowledge. In a nutshell, our EdTech client’s sales process is as follows:
Our client has an in-house team of 20 data aggregators, who perform data mining activities and maintain information in an excel sheet.
Along with leads from various sources, it then reaches the pre-sales team, who further qualifies these leads and closes the deal.
In case the deal is not closed yet, the marketing team retarget and engage with them via personalized email campaigns.
This process might seem simple but these are the following challenges that were affecting the client’s sales revenue:
Untracked Data Aggregators’ activities
Our client has 20 data aggregators who consolidate all inbound leads and further hunt for potential leads online.
It seems a simple task to perform but the truth is- it can get monotonous with time. Hence, the count and quality of leads were declining.
And, our client was unsure if the data aggregators were putting enough time and effort into these activities or not?
Lapse in timely Response to queries
The pre-sales team plays an important role in boosting revenue as they are expected to connect with leads, provide information, update the discussion notes and close the deal.
Despite their team being always busy, the revenue figure was telling another tale.
Our client noticed that a great deal of high-ticket leads was lost to competition at the initial stages. The reasons could be – poor response rate or data leakage.
Either way, our client was unsure of the actual reason and how to rectify the situation.
Unclear Marketing Efforts
Right from the content writers, SEO specialists, social media manager, designer, email specialist-, everyone was involved in the marketing process.
Even though our client was spending a vast sum of money on marketing campaigns every month, there were fewer email campaigns that yielded results.
Hence, the ROI was not justified.
The problem boils down to the fact that the client was not able to know where things were getting stuck at? Who is responsible? What is the root cause of it? How to improve it?
Data Safety at the workplace
Since all the leads and other crucial information were managed in multiple excel sheets, it became cumbersome to track and safeguard them.
Moreover, it was easy for anyone to leak the data to competitors or takeaway information when they leave the organization.
Zero-visibility in workplace activities
Since major activities were either managed manually or in different systems, it was difficult for our client to track down the depth of the problem with Zero-visibility on the part.
How does We360.ai fix the challenges of an EdTech company?
We implemented We360.ai in Aug 2021 and onboarded all 160 employees in two batches.
End-to-End activity tracking
With We360.ai automatic activity tracking, our client no longer has to run after teams for sharing their daily task report.
They now clearly know how well each employee spends his/her work-hour, what kind of application they use on the system and what is the status of the projects.
Quantify efforts with a productivity score
Now data aggregators, pre-sales, and the marketing team’s daily productivity score are highlighted on the dashboard.
Hence, each employee can see his/her performance during the day and management also gets visibility on everyone’s performance.
With the project management tracking, all the employees update notes in the system, and hence clients can now see where things are getting stuck and who is to be held responsible.
The best thing about productivity visibility is that employees themselves have become much aware of their time-management skills.
Within 2 months of We360.ai implementation, the client witnessed an 84% jump in individual performance.
Centrally manage sensitive data
Be it email campaigns, SEO activities, data aggregators activity- the respective managers create the project in the system and divide it into multiple small tasks.
Everyone now has to update the status with the notes so that managers can easily go and check the project timeline for progress. Plus, the time-schedule screenshots further validate if an employee was actually doing the same activity during the day or not.
The client observed a 69% decline in leads lost rate in just 3 months and a 32% upsurge in overall revenue.
Block Employee distraction
In We360.ai, we have a feature called application usage that reveals all the websites user access during the day, and for how long.
With this insight, the client found that pre-sales, data aggregators were wasting productive time on irrelevant websites and that these sites need to be blocked.
Hence, the domain blocking restricted access to sites as per the role and responsibility. This has greatly assisted employees to stay focused during work-hour and perform at their best.
Bring transparency in the workplace
Using the BI-enabled reports and dashboards, management has now clear visibility into each business process. Plus, managers have access to We360.ai Mobile App for a quick overview of the team’s progress, even on the go.
Over the 2 months, much of the processes are streamlined. Teams now better coordinate with each other and management has clear visibility in each employee’s performance. Our solution helped the client to bring transparency to the system and work with better coordination to get things done smoothly. Plus, the overall performance score helped the client to reward consistent performers for their sincere hard work.
EdTech companies have huge market potential in India and with robust employee monitoring software, you can be at the top in no time. Our monitoring software has shown proven results in the EdTech industry to track sales, marketing, and other teams’ performance, engage with employees, reward the Top performers and build a transparent workplace.