How do you market an edtech company?
There are many ways to market an edtech company. Creating content, running paid search ads, and sending out newsletters are some of the most common. But those are individual marketing tactics which won't produce the results you're looking for. The most successful way to market an edtech company is to approach your marketing in an integrated, holistic way—called full-funnel marketing.
What is full-funnel marketing?
When people buy something, it's usually not a straightforward decision. This is especially true in edtech marketing. Whether you're selling something to individual parents or a committee at a school, purchasing an edtech product is a big decision. And there is a consumer journey people go through when deciding what to buy.
Here's a good visual from McKinsey of the consumer journey, entailing four stages: awareness, consideration, evaluation, loyalty.
Full-funnel marketing is when you run marketing activities that cater to people at each step of the journey. The marketing activities are integrated to help move people along their buying journey and for a consistent customer experience.
At each step of the journey or funnel, people have a different mindset related to buying an edtech product. At the trigger/awareness stage, you'll get their attention with marketing that provides value to their lives or jobs, like a checklist or podcast episode. This is not the time to pitch your product.
They'll be more receptive to hearing about product solutions as they move along. At the consideration stage, you might run a contest or a live event to get people familiar with your product.
People are in comparison mode when they get to the evaluation stage. They're figuring out how your product stacks up to competitors, so provide case studies and free trials.
The last stage is around loyalty, and it's a critical step for keeping and growing your existing customers and getting referrals to new customers. An informative newsletter and referral programs are helpful marketing activities for this stage.
A full-funnel marketing strategy for an edtech company might look like this:
When running a full-funnel marketing strategy, you will want to measure the overall success of the integrated campaign by identifying one or two KPIs (key performance indicators). For example, marketing contributions to revenue. This helps ensure that your marketing activities work together towards a universal goal.
Then for the individual marketing tactics at each stage, measure performance so that you can test, learn, and improve along the way, which will contribute to your overall KPIs. For example, track participation in your referral program to keep a pulse on customer loyalty.
The best edtech marketing strategy
The only way that you will see marketing contribute to the goals of your edtech company is for you to commit to a full-funnel marketing strategy. You will have marketing activities that reach people at any stage of the buying process, and all of your marketing efforts will be connected to a common goal that helps grow your business.