Mick, General Manager (Asia & Pacific Regions), shares his insights and experience on some of the fast changing trends in our industry.
What are some of the most significant changes you’ve seen in this industry over the last few years?
As the cost of lead acquisition is getting higher for online education businesses, it becomes increasingly important to understand and service your student’s needs.
This means that online education companies will not only focus on providing a single product, such as teaching English, but they’ll need to develop more service and product opportunities to provide their students.
Recently, many companies have started to add to their product and service portfolio by providing classes for different languages (Spanish, French, etc) or subjects (math, science, art, etc).
In the next few years, I believe that the online education industry will grow even bigger than it is now!
More high-end technology (AI, VR, AR, etc) will be utilised and deployed in the delivery of education services. As a result, teachers need to be trained in adapting to these new technologies, so they can use it to augment and enhance the quality of their teaching and online classes.
What are some of the main challenges that Online Training Companies are facing?
It is a big topic and there are lots of challenges in 2020.
Different education providers have different challenges and pain points, depending on whether they operate an online, offline, or hybrid business model.
Generally, the COVID-19 pandemic has accelerated the popularization and up-take of online education by 3+ years.
During a global pandemic, online education companies will benefit from the extra demand and rapid growth of the market caused by lockdowns and social distancing policies.
But, most important, only the companies with really great teachers will survive in the post-pandemic market, when a considerable number of students return to school or other offline institutes.
Companies with mediocre or poor teachers don’t deliver great online-classes for their students. This disappoints their students (and the student’s parents) which will cause them lose faith in using a particular online education company (or in online education providers altogether).
Ensuring that your students have a great online-learning experience -by providing great online teachers- is the only way an online education provider will keep growing its business after the pandemic, when students and parents have more education service options than they do during lockdown and while social distancing remains in place.
What advice would you give to an Education or Training Provider in today’s business environment?
The Covid19 pandemic is a crisis, but it’s also an opportunity for online education businesses. Do your best not only to survive but also to grow during it! ‘Never let a serious crisis go to waste’, as once said by Rahm Emanuel.
If you’re running a bricks-&-mortar education business, then use the disruption created by global pandemic to seize the opportunity to turn your business model into a hybrid model – namely, start providing online services as well as traditional classroom services. [We can assist you with advice on how to set-up a digital teaching service and how to run it. Get in touch with us if you’d like to learn more.]
If you’re already running a hybrid business model (namely, bricks-&-mortar and online services), the COVID-19 virus isn’t going away anytime soon so the disruption it’s causing will be with us for a long time yet. You need to be well prepared for future lockdowns of your bricks-&-mortar schools at any time, as well as reduced capacity when they are open (due to social distancing requirements). If you have a reliable service-partner who specialises in online education and teaching then they can always help you at any time with developing and growing the online side of your business.
If you’re an online-only education provider then you’re going to see a lot more competitors entering your market due to the global pandemic. The only way to stand out in a busy and competitive market is by delivering a quality learning experience for your students – finding great teachers (and managing them well) are going to be a critical part of that success. So a business partner like TRGTC will be very helpful for your continued growth and success.
Thanks for sharing, Mick!
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