June 16, 2021 |

Our connected world is transforming the education industry. As consumers, we are becoming used to accessing experiences on-demand through platforms that leverage this new model. Imagine, 15 years ago, would you have believed us if we told you that the biggest cab company in the world wouldn’t own a single taxi, or the most extensive hotel business did not operate a single property of its own? We are not sure we would even believe ourselves. Read on to find out how technology is shaping education in the sharing economy.

 Education Sharing Economy

How the internet has changed education?

This rapid pace of change leads businesses to rethink their approach to providing products and services that people can access when they want and from wherever they are. Education included. By the same notion as we outlined previously, why should a teacher need a classroom anymore?

Over the past 20 years, the internet has enabled a host of learning resources to be made available online, making learning new skills increasingly accessible to people worldwide. The connection afforded to us through advancements in personal and mobile computing has given rise to platforms like Khan Academy, Udemy and LinkedIn learning, which have made personalised learning resources available for students worldwide, in some cases, for free!

Smartphones are taking learning experiences to the masses.

As these learning experiences become more widely available through smartphones, they have reached new heights of popularity among those looking to brush up on skills. With the onset of the COVID-19 pandemic, people turned to Edtech brands to make the most of more free time. In the weeks following the implementation of lockdowns the world over, 30 million people signed up to learn a new language with the popular app Duolingo.

The way we learn is being shaped by the rich experiences created on devices that sit in the palm of our hands. This access to powerful mobile computing opens up new routes to learning for anyone with a compatible device. Furthermore, for many younger students, it is their preferred way to learn. While millennials are often referred to as the first digital native generation, the mobile-first expectations of Gen Z push the demands on technology further.

Diversify Edtech sales strategies for omnichannel and D2C.

What does this shifting trend mean for providers in the space? The customer set has diversified, so preparing a D2C sales strategy is essential if you have not got one already. Previously, institutions like schools and universities held a degree of exclusivity when it came to available distribution channels. Now that technology has diversified the market, brands can engage students directly in the sharing economy, selling unique learning experiences directly. This shift in channel strategies means new value propositions need to be defined and packaged in a way that gets students excited at the prospect of learning with you.

Leverage data to build personalised, student-centric experiences.

As we touched upon in a previous piece (link to post-covid edtech market blog), the ability to leverage data to shape personalised learning experiences for students is a decisive advantage that edtech brands need to employ. By developing student-centric journeys, brands have the opportunity to create long-term relationships with those looking to learn that can prove lucrative for all parties. Recent studies have shown that those receiving personalised learning experiences outperform those that learn as part of generalised curriculums by 98 per cent! Edtech brands can leverage these performance advantages to create compelling value propositions for prospective students and institutions.

Don’t discount the sustainability impact of the edtech market.

While technology has made learning much more accessible when compared to where the market was 20 years ago, much of these exciting new resources rely on expensive technology and reliable access to the internet to experience them at their fullest. 

Edtech brands should not forget the sustainability impact they can have by ensuring the greatest number of students can access the products they develop on all devices. By investing in creating equitable and broadly accessible experiences, brands have the potential to impact vast numbers of people worldwide, creating opportunities for those who might not have otherwise had the chance to learn special skills. 

Rapid advancement in technology is taking the edtech market to inspiring places. The impact its continued rise could have on students worldwide is transforming how people learn, unlocking massive potential as they go. To realise this potential, however, brands operating in this space need to keep the student at the heart of the experience, leveraging the power of technology to guide them on unique learning journeys. 

If your brand is preparing its push into the edtech market, you could use a helping hand of your own and then get in touch with our team of specialists. You can meet them here, contact them using the form below or speak to them by calling 0115 958 9840.