5 Questions Every Edtech Company Should Ask Themselves
Edtech companies face a fierce amount of competition when it comes to convincing schools to use their products. They must have an airtight sales pitch and a unique product that is actually useful to educators and school districts. In order to become successful in the marketplace, every edtech company needs to be able to answer the same questions. Here are the top five questions that your company should be asking itself as you develop new products.
Do our employees have the training and background to produce this product?
The major problem facing many edtech companies today is that they do not have any educators on their staff. Without a background in teaching, many products fall flat and are ineffective in a classroom setting. Edtech companies need to prioritize hiring teachers who are capable of designing their desired platform with a focus on the end user. According to experts, this can help you get your product on the market much faster.
How do we get paid?
Money is a driving force for any business and edtech is no exception. You must have a clear idea of how you can cover costs and your salary with the sales of the product. Come up with a clear marketing scheme that allows you to price your product in an affordable way and still make the money you need to pay the bills.
What need are we trying to meet?
Every school has a need that must be met in the classroom setting. An edtech company must know and deeply understand what those needs are before selecting one major problem to focus in on. You might be able to think of fifty different problems that need solved but try to focus on just one that your company can meet with excellence. It is recommended that you start with the one that seems the most compelling.
How do you stand out from competitors?
School administrators and teachers can often be inundated with the sheer volume of edtech companies that come their way. Many of them offer similar programs at different price points without much differentiation. Edtech companies must know what sets their program apart from competitors who offer similar items. Be able to describe your unique features in great detail.
How long does it take to learn your product?
Teachers need products that are going to be relatively simple to use. Make sure that you offer training to educators who have recently purchased your product as well as some form of ongoing support. Make sure that your product is intuitive enough to learn quickly without extended training. This makes it much easier and more likely for schools to choose to implement your product.