India has seen a steep rise in the number of Ed-tech start-ups in recent years. A number of companies are selling Learning Management Systems LMS. It is not easy for a new company to penetrate the market in this domain. Having said that, there is always a way to strike the right note at the right time, and make the seemingly impossible stuff possible. Let us break down the complicated process into smaller tasks first. Then, learn how to execute it efficiently.
Who buys Learning Management System – LMS?
LMS is useful for Educational institutions, Coaching centers, Online course content creators, etc. The purchase decision-makers are different in each of the above categories.
Educational institutions – Principals / Owners / Management
Coaching centres – Owners / Management
Online course creators – Content owners
Why do they buy LMS?
- Streamline the process
- Save time, effort, and money
- Survive in a pandemic situation
- On-board more students and expand business
- Take their business online and and expand geographically
What a buyer is looking for?
- Ease of use
- Stellar support
How to convince a buyer?
Perception creation is crucial here. Customers want to do business with a professional team of experts in their respective fields. They do not want to waste their valuable time, effort, and money on a rookie.
The primary objective is to present the brand as a though-leader in the field of LMS product development and support. It requires the showcasing of expertise and the ability to provide strong references for past clients.
Give the best possible introduction about the company, the brand, and the product in the first meeting itself. There are various methods to initiate contact with a purchasing decision-maker.
- Cold calling
- Sending emails
- In-person meetings
- Filling up and enquiry form
- Calling your business
- Sending you an email
Once the contact has been initiated, the next step is to give an uber-confident demo. The customer prospect should feel like you were longing for this opportunity to present your product before him. The focus of the demo should be on three things:
- Ease of use
- Savings in terms of time, effort, and money
- Assurance that you will be there for further support
The ability to provide a free trial shows how confident are you about your product. A free trial plan with access to a subset of features gives the potential customer a chance to explore the product and know its benefits first hand. Once you invoke the desirability stage chances are high for the discussion to enter the next level.
Catalysts to make a purchase decision
Once the demo is over, the usual response of every customer prospect will be – “We will discuss this internally and get back to you.”.
Be ready with at least three case studies that say how your existing clients were able to transform their business process and make amazing savings using your Learning Management System LMS. It should include figures that can instill confidence in your potential customer to do business with you.
Positive customer reviews substantiated with genuine facts and figures make a strong case for your product to be considered.
Video reviews by experts from the field of education can be hugely beneficial for forming a positive opinion among the buyers.
Ultimately the learning management is to be used by course content consumers – the students. Video reviews by students, explaining how easy and effective it was to attend the classes served through your LMS, are really valuable for marketing.
When customers sign up for your product they do it for a reason. They want to use your product and save time, effort, money, onboard more students online, etc. You can show these figures sourced from existing clients to your potential customers in the form of neat timeline infographics. This will give them a clear idea of how your product can transform their business in a given period of time.
If a potential customer is impressed by the demo of the product, she/he would discuss the matter internally with the team and the management. They will do a lot of research online about the product and the brand. At that time, you should be ready with ample online content by mobilizing your website, social media channels, YouTube channel, professional networks, etc.
Customer review videos can act as an alternative to talking to current users directly. You could also provide customer references with whom a call can be arranged on demand.
- Develop and deploy a sophisticated user-friendly website
- Create a landing page containg most important information relevant to your potential customers
- Create a product walk-through video
- Shoot customer review videos
- Shoot product recommendation videos by experts
- Mobilize social media channels
- Run targeted Ad campaigns to generate enquiries
- Follow up leads, nurture them, and bring it to closure
There are a large number of ed-tech start-ups in India selling Learning Management Systems. If you desire to penetrate the Indian market, your product should stand out in terms of strong USPs. There should be visible differentiating factors. You should be able to give your customer good enough reasons to choose your product over others. Along with having solid USPs, it is also crucial to communicate them to potential customers and convince the decision-maker to make a purchase decision.