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Strategies for Balancing Customer Acquisition And Retention In education Marketing : A Case Study On EdTech Platforms
Education technology (EdTech) has developed into one of the world's quickest-growing business sectors which transforms how learning happens through delivery access and student experience. EdTech growth occurs primarily from digital technology convergence and global expansion of hybrid education, together with the expansion of internet access. EdTech platforms fundamentally transform traditional teaching practices through their delivery of flexible scalable personalized solutions that support diverse learning demographics (Sharma, 2021).
COVID-19 propelled educational institutions, businesses, and individuals toward EdTech platform adoption through an urgent push that demanded complete digital learning transformation at rapid speed. Initially started as an emergency adjustment when face-to-face learning stopped it became a permanent reorganization as students and teachers began to value distance learning methods. EdTech platforms now function as fundamental elements within educational frameworks that deliver solutions ranging from student-centered interactive learning systems to provider programs for professional development.
Market Research Reports (2023) indicate that the global EdTech market produced $300 billion in revenue during 2023 while demonstrating strong ongoing expansion patterns. Market research indicates that online education will achieve $605 billion in revenue by 2027 while showing a 15% compound annual growth rate. Multiple forces combine to accelerate EdTech market growth such as the enhanced demand for tailored education approaches coupled with innovative technology implementations such as artificial intelligence (AI) and virtual reality (VR) systems alongside a growing understanding of continuous learning for people of all ages
Submitted by: Jonathan Goh Shyh Yong EIU225918 Supervisor: Dr V.B. Kumaresan Date: Nov 2024 EIU-PARIS