Market Snapshot
According to Market Digits (2021), "The Global Online Education Market is expected to expand at a 28.55% CAGR during the forecast period, 2020–2027”.
Being one of the key players of the global online education market, Edmodo is currently utilized by more than 300, 000 schools across the globe. Focusing on addressing teachers, students and parents’ needs, the company primarily serves as the leading social education platform in the US among K-12 schools. In addition to the US, Edmodo’s largest markets are Mexico, Australia, Columbia, and Canada.
Being one of the key players of the global online education market, Edmodo is currently utilized by more than 300, 000 schools across the globe. Focusing on addressing teachers, students and parents’ needs, the company primarily serves as the leading social education platform in the US among K-12 schools. In addition to the US, Edmodo’s largest markets are Mexico, Australia, Columbia, and Canada.
Type of market
Edmodo 2.0 will expand from its current role of supporting K-12 education to online workplace training for corporate organizations. According to The Courier (2021), the BYOD market is expected to be expand at a CAGR of over 15% during the forecast period of 2018-2023. With a growing number of companies adopting the Bring Your Own Device (BYOD) model, there is a growing demand for LMSs that provide innovative instructional platforms for trainers to provide a training program through eLearning so that staff can take part in trainings at their own pace, anywhere, and however they want to learn.
Who are the buyers?
Edmodo 2.0 targets customers from the eLearning industry that includes but is not limited to eLearning instructional designers, corporate trainers and freelancers affiliated with different companies.
Edmodo 2.0 offers two subscription plans- basic and plus. The basic plan subscription is completely free and allows both trainers and learners to access a limited number of authoring tools but does not provide automated conversion of materials. Likewise, under the basic plan, while the learners could still choose their learning content, the lesson schedules are fixed.
The plus plan subscription provides users accessibilities to all the features of Edmodo 2.0. A monthly pass for up to 100 people is sold at CAD$ 350 each month while an annual plan costs 15% lower at CAD$ 297.50 each month.
Edmodo 2.0 offers two subscription plans- basic and plus. The basic plan subscription is completely free and allows both trainers and learners to access a limited number of authoring tools but does not provide automated conversion of materials. Likewise, under the basic plan, while the learners could still choose their learning content, the lesson schedules are fixed.
The plus plan subscription provides users accessibilities to all the features of Edmodo 2.0. A monthly pass for up to 100 people is sold at CAD$ 350 each month while an annual plan costs 15% lower at CAD$ 297.50 each month.
Potential strategies to reach out and appeal to targeted buyers
1. Formal platforms- eLearning symposiums, conventions and conferences
2. Informal platforms- social networking sites and virtual meetup groups
3. Search engine optimization (SEO) strategy
4. Targeted advertising
5. 30-days free trial
2. Informal platforms- social networking sites and virtual meetup groups
3. Search engine optimization (SEO) strategy
4. Targeted advertising
5. 30-days free trial
Competition
Edmodo 2.0's competitors are other communication systems and Learning Management Systems (LMS) platforms such as:
TalentLMS
TalentLMS is a training hub for all employees at various stages of their career- from onboarding to skill development. Training processes are simplified through a cloud-based, easily accessible software. Advantages: No limitations to the types of multimedia uploads and integrations No coding or specialized knowledge necessary in content presentation Disadvantages: Steep learning curve Lacks of automated suggestions Limited and not very customizable testing options Without phone support and limited real-time support TalentLMS’s basic plans start from USD 59/month for up to 40 users. AbsorbLMS AbsorbLMS aims to bring effective corporate training through practical implementation of courses that boost engagement. AbsorbLMS vows for continuous dedication towards developing the platform according to feedback from users. Advantages: Accessible via mobile devices Scalable tools with many automated features and reporting tools Pre-configured courses available for internal and external trainings Disadvantages: Expensive as compared to other platforms Some features are difficult to use Slow response from support team As the company employs a quote-based policy, based on PCmag (2019), the monthly subscription to AbsorbLMS can cost around USD 800/month in addition to a 12-month user fee of USD 16/active user. SAP Litmos SAP Litmos promises its users the ability to deploy training courses in a short period of time. Being secure and scalable, SAP Litmos is also able to automate communications and tracking, making training simplified for course administrators and learners. Advantages: Attractive priced basic plan Schedule and custom reports with lively visualizations Easy course creation, content addition and management Disadvantages: Limitations on customizable user roles Some additional features such as Automation Bundle that helps with platform management has to be purchased separately SAP Litmos also employs a quote-based policy, but based on Brandt (2020), the pricing is for annual payments and dependent on the number of learners that study on the portal each month. With more users, the cost is lower. For example, for 50-150 users, the cost will be USD 15/user for Pro+ Courses, while for 500-1000 users a month, it will only cost USD 4/user for the same plan. |