Online Learning Business Model: don't update it. Revolutionize it.
October 22, 2020
5 min read
Competition in the online education market is no joke – just ask any language school worldwide, and they’ll tell you just how brutal it can be.
In light of social distancing regulations worldwide to curb the spread of Covid-19, schools have shifted the learning experience to the online market. Within a short space of time, the market has become saturated with virtual programs, and competition among language-training providers has reached an all-time high.
As such, traditional language schools have had to review business models in order to better offer students a legitimate online-learning experience, as well as ensure that schools prosper commercially.
For the past years, the educational industry had been static, with almost every institution offering on-site classes (think paperback textbooks, limited classroom seating, and blackboards). However, only a small fraction of the market, led by the new-age “innovators”, had figured out how to digitalise learning services. By 2020, a massive adoption of technology in the educational field erupts triggered by response to Covid-19 – accelerating the market’s growth process by at least 5 years.
Regrettably, a majority of language schools have however only offered remote learning. Despite the massive shift, schools will realise that remote-learning tools are not optimal for online settings, and will move forward in full digitalisation – a natural step in a technological revolution of the educational industry.
Virtual instruction brings with it an array of new opportunities: lesson-recording, content-processing, gamification, data analyses, and self-paced curricula, to mention a few, are all extremely powerful tools that, when combined, go beyond the current remote solution. They allow for a maximum teaching and learning experience, business growth, as well as cost reductions – simultaneously. In short,they unlock the full potential of schools within the online-learning setting.
How can language schools change the business model to better suit this new, online reality?
Traditionally, brick-and-mortar language schools share similar funnelling strategies in student acquisition: First by advertising programs online via social media or Google-ads, followed by prospective clients landing on the website (typically describing courses in detail, and finally detailing a payment plan for enrolment.
However, for newer “click-and-mortar” language schools, funnelling strategies take on a whole new approach. By being fully-online (more-so in a highly-open market) the time taken in experiencing a school’s true values is dramatically decreased. Simply put, a student receives immediate access to a school’s platform (dedicated to online-learning) and instantly gets the idea of the practical experience – from the click a button. Enrolment, as such, naturally follows.
But, in order to scale up online, as well as benefit from modern business models, schools will need support from the right platform designed for online-learning – and that’s where Edugo.AI comes in. With over 3 years of experience, the Edugo.AI platform – specified tolanguage-learning – helps language schools in both student acquisition as well as retention.
Not only is student-enrolment simplified, but an amazingly personalised learning experience is provided, all thanks to Artificial Intelligence leveraged within the system. Expect customised exercises alongside content suggestions matching each student’s needs and interests.
The revolution of online-learning is an ongoing one. Though the world has yet to experience an ultimate paradigm shift, the changes taking place in the language education landscape have revealed numerous upsides. Stand out of the competition, and take control of your future with Edugo.AI!
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