Sell Your Vision, Not Your Product
Date: Monday , December 14, 2015
There are an estimated 300,000 to 400,000 low cost private schools with 400 student\'s average enrollment in India serving almost 50 percent of urban students and 21 percent in rural areas. A typical APS earns revenue of US$106 per student yearly, while spending US$72 per student yearly. This can cause a number of monthly cash flow and financial sustainability challenges for the school. In a study of APS, 18 percent of APS enrollments were offered at free or discounted rates.
I know lots of ideas are now rounding around your mind after reading above statistics. As a startup you should first understand the Problems of your target Market & Customers, You should also get literate about your customer\'s customer choice, this will help you to build most usable product or services.
Regularities, Student evaluation methods, Parent\'s expectations and student behavior are changing very rapidly in the Indian Education sector. This is giving very good choice to build new ideas that help to solve problems. You need to create a vision for your company that makes an impact on your customer business and give success. Vision can also be addressing one problem or making customer process easy, you should make sure that your Internal team members should able to understand your vision before they go and market it.
A part with vision you should also create your domain experts in your Edu startup. Especially in early stage you cannot afford high salary employees, hence you need to create your own domain expert to give best services and also to get more customers. We made a mandatory process that any employee we hire (Marketing / Tele caller) should at least work 1 month with customer support team. There they should attend customer call, answer their queries and we also make sure they understand our Product completely. This model is very cost effective and making sure that we are sending domain expert marketing team not only marketing degree holders.
Very common problem that you see in Ed-Tech business is acceptable. It took almost a year to get my first customer and start live product. In this one year marketing ( I directly involved) we understand that schools are not waiting for technology based products , they are looking for a solution / service that address their problems, When we go any customer first we listen what customer says his/her experience with the same type of products that he used and understand the issues that they encountered. We make sure that the same problems are not repeated in our product implementation and daily usage. We also showcase customer how we overcome that, this will create very good relationship with your customer and give confidence on your problem solving model.
Sometimes in your business it is acceptable to follow your competition than trying to show that you\'re ahead of your competition. Whenever there is a very attractive feature available in your competitive business, you should applause that and make sure that your customer know that you are also building same feature or service in your business. This will give confidence to your customer on your easy acceptable nature.
Few Last Words:
- Only when there is a match between the vision of your customer and your own vision, a long-term partnership may emerge.
- Understand your customer\'s vision takes a note of their problem. Tell the customer how you are aligned with what he needs
- Create Domain experts and know Industry changes before your customer knows it.
- Enroll your customer in your vision that is how you will be able to connect and collaborate.