The education technology market is growing at a rapid rate. In 2021, this industry was valued at over $80 billion. Within the next few years, it’s bound to cross the $100 billion mark and become one of the most influential industries on the global market.
With more and more people looking to educate themselves online and with traditional institutions offering fewer courses, it’s clear that the need for quality EdTech platforms will increase even further. Starting an online educational platform is a great way to meet this demand. However, as with any new venture, there are some steps you should take before diving in head first.
So, here are a few tips for starting your own EdTech platform.
Depending on what type of online platform you’re creating, your decision-making process will be different. If you’re starting an online course website, for example, consider these questions:
- What kind of courses do I want to offer? Do I want them bundled together in one area or spread out across multiple parts?
- Who am I trying to attract? Is it a specific audience (i.e., college students) or just anyone who’s interested in learning about the subject matter (like most educational websites)? How will this affect my pricing model?
- What kind of content do I plan on providing at each stage (i.e., introductory information versus more advanced material)? Will users need access to some resources offline, or would it be better if they could use only the tools available through our system while they’re logged in (courseware vs. content delivery system)?
The first step in creating an EdTech platform is to determine the technology that will allow you to create the product you want. You should choose a system that is easy to use, affordable, scalable, and secure.
The learning management software you choose should be intuitive enough that even someone who has never used it before can get started on day one. Around 80% of college students say that EdTech platforms have helped improve their grades. This number will encourage other students who might not have used these platforms before. So, the platform you build must be easy to use for these newcomers.
You must determine your target demographic. You will have different students with different needs, and it is important to know the audience you are trying to reach. You need to know what they want, what they need, what they will pay for, and how long it will be until they have access to the product.
You should also pay close attention to what kind of tools or applications these students use in their daily lives. This can help you determine whether or not your product would be useful in their current workflow.
Creating a more diverse catalog of courses will attract a more diverse student body and faculty. This is the most important reason to add new courses. It allows you to attract more students, which means you can make more money.
The EdTech platform Proprep is widely popular because of its diverse course offerings. When it comes to college-level general chemistry, Proprep has a decent syllabus and curriculum that students can follow. The platform then offers other courses like Math, Physics, Computer Science, Statistics, etc. These courses are further divided into various niches, which helps bring in more students.
Having experienced faculty or instructors on staff is important for your success. As a new platform, you will need help with technology, marketing, and content. The best way to get this advice is through having instructors who can teach relevant courses in your subject area.
These people will also be able to provide insights into what students are looking for when it comes to learning their field of expertise. This information can then be used to create the most engaging content possible for students looking for an education on that topic.
In conclusion, starting an online educational platform is a great opportunity, but you should plan ahead before starting one. There are around 34 EdTech unicorn companies in the world, and your aim should be to challenge those companies and compete against them.
You need to be aware of the technology available and how it can help you achieve your goals. You also need to consider what type of content you want to offer, who will teach these courses, and how much money will be spent on this venture. By making sure all these factors are taken care of beforehand, the chances of success will increase significantly.