Sales growth 9X: why online education platforms should consider affiliate marketing
Over the previous decade, education as a sector began to diversify its means of expansion. 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. 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.
The question remains as to how the emerging EdTech segment capitalizes on the unexpected surge in demand since the COVID-19 pandemic. Owing to social distancing norms, several educational institutions had to cancel physical attendance, resulting in the enforcement of online attendance and coursework. Similarly, several EdTechs offer training and are attempting to hire quality teachers in a highly competitive environment. To keep these activities going, many are keen to bring customers/students onboard, but unaware of the advantages offered by the performance-based affiliate channels.
How much has the online education market grown?
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 Admitad Affiliate Network Stats.
Admitad Affiliate data further indicates that the positive signs seem to continue even through Q1 of 2021, as data indicates that a 129% increase in the number of sales and a 376% increase in sales amount is in the offing.
Where did the clients come from?
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 CPA?
For those who are unfamiliar with marketing terminology, CPA stands for ‘cost per action’, so brands pay only for the result. The company chooses the target action (for example, purchase, installation or application) and pays a fee for them to webmasters.
The main advantages of the CPA scheme according to the online education portals:
- There is no risk of losing your budget while experimenting with new types of traffic or sites/bloggers
- Predictable results and transparent statistics
- Tens of thousands of webmasters with all kinds of traffic
- Saving resources of the marketing department
- Feedback from partners that helps improve brand promotion
Add to this the speed at which all the above functions can be performed, which is in contrast with traditional advertising.
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