How to Break into the North American Edtech Market
The North American edtech market seems particularly ripe with abundant investments taking place. Last year alone, investments in edtech products hit a staggering $9.5 billion. These hefty investments flooded the market with new products, making it difficult for any newcomers to truly stand out from the crowd. You will have to be extremely savvy in order to break into the North American edtech market at this late stage in the game.
If you’re still committed to providing new edtech programs or services to the western world, you should know what you’re getting into. With some of these market insights, you’ll be better prepared to establish a name for your company in a competitive marketplace.
You need an education background.
Did you go to school for engineering instead of teaching? While that might be useful for creating your platform, it isn’t going to make your edtech appealing to real teachers. You need the knowledge of how children develop and the ways they learn to make effective technology. Without this background, you don’t know exactly what teachers will need help with or the areas where edtech could solve a real classroom problem. Consider taking a few classes or reading up on pedagogy if you truly want to be successful in your creation of edtech.
Another option would be to bring a teacher onboard to help you design the program. They can provide the insight and experience necessary to help you create edtech that will be useful in the classroom. This standout feature is a great marketing point when you begin making a sales pitch to local school districts.
Academics aren’t the only option.
The edtech market in North America is completely flooded with programs designed to help with elementary math and English skills. These are the first products that many edtech companies think to create. Perhaps if they had a background in education, they might see that school-home communication is an essential part of learning that is often overlooked. Many people believe that classroom management programs are bound to be more popular in the coming years.
Alternatively, many schools are cutting back on arts programs due to budget constraints. Edtech could theoretically help to reintroduce some of these programs at a much lower cost. In the North American market, this could be a unique way to put your edtech company at the front of the pack.
Understand who is paying for the product.
There is always some confusion within the edtech market regarding who will actually be paying for the finished product. Obviously, your edtech platform should be designed with the student in mind. However, administrators are often the ones making the final purchase for a district-wide implementation. You have to find a balance between appealing to these higher-level administrators and still making the program appealing and useful to the student. Perfecting your sales pitch and modifying the platform gives you the best chance of success here.
Breaking into a saturated North American market will be difficult without figuring out how to set your edtech platform apart from others. Learn how to become successful with your edtech company by filling in a niche that has been left untouched thus far. By keeping a few of these suggestions in mind, you can find greater success with your edtech company.