The EdTech sector is experiencing rapid expansion, with statistics indicating that the Indian EdTech market will reach a value of US$ 4 billion by 2025. As an increasing number of students join EdTech programs, competition intensifies. This exerts pressure on EdTech institutes to manage and expand their enrollments wisely.
In response to these challenges, they require an efficient and scalable solution that can help them adapt to the changing needs of students. A CRM for EdTech is precisely what they need for effective educational administration.
Continue reading to explore the challenges faced by EdTech institutes and how a CRM can help them.
What Challenges Do EdTech Businesses Face?
Your business is akin to a machine; if any of its components malfunction, it will either slow down or stop functioning entirely.
Consider your EdTech business’s scenario. You may have a steady flow of leads which means that you consistently manage numerous inquiries and follow up with your prospects. Failing to connect with those who have shown interest in your business could be detrimental. You may even lose your potential leads.
To ensure the thriving and continuous growth of your business, it’s crucial to address and manage your business situations proactively.
Post-Covid-19, there’s a growing preference for students to learn from the comfort of their homes. Consequently, EdTech institutes have enhanced education’s efficiency, accessibility, and engagement through the implementation of EdTech software.
A CRM proves invaluable for EdTech businesses in various ways, such as increasing qualified leads by 17% and achieving 10% higher conversion rates. Let’s delve into some challenges commonly faced by EdTech businesses and explore how a CRM solution can assist in overcoming them.
1. Easy Data Management:
All EdTech companies struggle with a great amount of information, including student details, staff, and educator data. Managing a multitude of students and educators can make keeping track of everyone challenging.
Some companies choose to store this data in various databases, Excel sheets, Google Sheets, files, and more. Consequently, when an inquiry arises, they often search for the specific data they need, creating a frustrating experience like solving a complex jigsaw puzzle.
Conversely, there are companies that utilize education CRM software, effectively organizing all their data. Thanks to these edtech software solutions, all your data can be centralized, making it more convenient to locate crucial details whenever necessary.
From student information to user interactions, this centralized approach ensures that all data is easily accessible and well-organized. Consequently, institutes can access the required information promptly and eliminate the need to navigate between multiple sources, and reduce the risk of losing any vital pieces of information.
Also Read: Best CRM for Education Tech Companies?
2. Efficient Communication and Support:
Your students, staff, and teachers may require assistance at any given time. To meet their expectations, you must be equipped with the right information promptly. Even amidst a plethora of calls, emails, and messages, it is imperative that each interaction results in a satisfactory resolution. Failing to do so could lead to considerable disappointment, something you cannot afford.
By utilizing CRM tools, you can streamline your inquiries in a proper and systematic manner. This enables you to swiftly comprehend the issues at hand and resolve them promptly. Implementing workflows allows for the immediate addressing of common questions. Additionally, personalized messages can be sent to enhance user experience.
An EdTech CRM facilitates seamless assistance with student queries, ensuring swift problem resolution that contributes to their satisfaction and builds trust in your team’s commitment to help them whenever needed. It can also lead to lead to a 56% improvement in visibility into student engagement and learning progress.
Beyond handling queries, you can use the CRM to send updates, reminders, and messages, ensuring everyone stays informed about relevant information.
3. Quick Reporting and Analytics:
When there is so much happening in your business simultaneously, it’s easy to lose track of various aspects, from course effectiveness to your team’s performance. Keeping a comprehensive view of everything is essential, and you rely on reports to evaluate what is working and what isn’t.
A CRM serves as your go-to tool for generating reports that provide insights into how well your edtech business is performing. Whether you need to assess monthly expenses, revenue generated, or total enrollments for a month, you can effortlessly create accurate and comprehensive reports.
A CRM tool facilitates report creation for different business entities. A robust CRM designed for the education industry helps you monitor calls, their duration, and the quality of interactions. Detailed reports enable you to identify trends and areas for improvement with ease.
Investing in an EdTech CRM Software can prove to be beneficial for your business in the long run, provided you select the right one to meet your specific requirements.