Sales Growth Of 3X In Online Education
In the past year, sales of the online education sector both globally and in India have grown exponentially. Data from affiliate network Admitad shows that the trend continued in the first half of 2021 and is expected to grow even more in the next quarter of 2021. Indian clients have multiplied their spending on online education.
Over the previous decade, education as a sector began to diversify its means of expansion as it was no longer confined to public and private institutions that delivered quality education for a predetermined annual fee. The nature of the sector changed on account of the internet and the proliferation of electronic gadgets like affordable smartphones, personal computers, and tablets, etc.
India is one of the fastest-growing smartphone-using countries today, the accessibility to e-learning has now become ubiquitous. However, to stay competitive, online education providers need to improvise when it comes to marketing strategies, as almost every industry has moved online to entice young audiences.
How much has the online education market grown?
The best metric to consider before investing in unknown avenues is to understand the forecast of the industry. By deciphering the past performance and future prospects, calculated measures through affiliates could be adopted. For instance, the online education industry globally experienced a 71% increase in the number of sales and almost a 9X increase in sales amount in the year 2020 as per our report. The growth achieved in such a short period of time is unparalleled anywhere in the country.
Our statistics show that the positive signs seem to continue even through the first half of 2021, as data indicates a 39% increase in the number of sales and a 193% increase in sales amount. In addition to this, the average cart value has already spiked by 110%, standing currently at INR 3258. Indian customers increased their purchases of online courses by 63%, surpassing global trends. Sales amount increased by 245%.
Where did the users come from?
In the day and age of big data analytics, with sales numbers reaching billions, and millions being onboarded every quarter, a performance-based approach to marketing is the most viable option for brands. For a number of intensive sectors like online education, it is all the more relevant. However, it is essential to understand the breakup of sales amounts from the various affiliate avenues, as it can convince any partner or online education provider to put their money where it is worth.
In a critical time like the COVID-19 induced lockdown, affiliate marketing seemed to be a profitable additional instrument to the already overstretched traditional advertising channels. Affiliate was far more cost-effective and budget-friendly, especially during a time of restricted mobility. With the movement to online from offline, partners of affiliate channels and brands rightly recognized the shift, and the next move could benefit them immensely if it leans towards affiliate channels.
Why do educational market players choose a performance based platform?
Due to an unprecedented disruption seen in 2020, owing to the COVID pandemic, affiliate marketing has grown exponentially with the ever-changing and evolving landscape as the majority of businesses jump on the digitisation bandwagon. Big EdTech companies like Coursea, Edureka, Testbook, Udemy and many more are shifting to affiliate marketing channels to create brand awareness and attract new users for their platform.
Due to the rapid growth in the sector, an increasing number of content sites, traffic specialists and other traffic owners agree to work with brands on partner terms - for a reward based on the amount of the order made, and not for fixed payment for advertising. And here is the number by which the number of partners has grown.
The author is Neha Kulwal - Country Manager, Admitad India
