Let’s think from a consumer point of view for a moment. When you encounter a problem, be it a computer virus or a stain on your favorite sweater, you’re going to want to get it solved by someone you can trust. Why is this? Because you know you’ll get good results.
46% of customers tend to buy from familiar brands. But this can become a vicious cycle.
If you don’t stand apart from the other solutions, you won’t be the one they trust with their business. What comes next? Your competition becomes the one they choose to frequent.
If you’re an education technology (EdTech) company, you’ll know that you’re in a determined and crowded industry. So, let’s put the software development company Neoteric under the microscope to explore how they achieved their success and what exactly you can learn from their experience.
An introduction to Neoteric
Neoteric is a digital transformation partner that provides custom software products, EdTech solutions and web development. With a range of top-notch digital products and experience working with companies like The World Bank, they’re a top-rated business.
Neoteric isn’t exclusively an education software development company. They work within a variety of authoritative industries, such as public safety, digital healthcare, and real estate. Therefore, their dedicated team mostly partners with B2B clients and professionals.
Since we are focusing on the EdTech side of things, below are the services that are on offer. They don’t take on a project management role, it is considered to be a tech partnership. They will create the development process with clients, not just for them. This requires a conversation with the brand before they can offer you an estimated price.
- Custom EdTech software development
- E-learning platforms and learning solutions
- Tools for gamification on educational apps
- Learning management systems (LMS)
- Online courses
- Interactive lessons (AR/VR)
But what is significant about Neoteric? Even with all of the competition, they have become a trusted expert within multiple industries and taken on huge global companies as clients. Understanding how they achieved this is an opportunity to learn by example.
What goal is Neoteric trying to achieve?
Neoteric’s goal, as is the priority for many businesses, is to stand apart from the growing competition and be the first point of call for those in need of app development, learning platform, or other solutions. If you aren’t so sure, take a look at our reasoning below.
- They involve themselves in trends and follow emerging technologies in real time, such as artificial intelligence, Node.js, machine learning, and GPT development. Being noticed by consumers means keeping up-to-date and being innovative.
- The copy on the website emphasizes phrases such as “widely skilled”, “bespoke”, and “a proven process polished over the years”. This language makes them appear as experts in their field and better than other development teams.
- Their content focuses on articles, knowledge bases, and blogs. Many consumers will believe that these are the most reliable sources of information.
What problems were Neoteric faced with?
A customer of EdTech development services is purchasing a product with the intention of either improving student knowledge growth, expanding their business, or getting their startup off the ground. It’s only natural that they will want the best brand for the job.
These potential buyers will do their research. So, not only do you have to be good at what you do, but you have to be better than your competitors.
For Neoteric, there are a lot of them. Why is that? More startups are capitalizing on education software because there has never been a better time to do so. This has only been made more true as remote working became more common and online learning remained in many institutions post-pandemic. Just look at these statistics.
- The global EdTech industry was valued at $123.40 billion
- It is expected to have a compound annual growth rate of 13.6% from 2023 to 2030
- As of March 2023, there were 30 EdTech unicorn companies around the world
- Global expenditure is rapidly on the rise, as demonstrated by the graph below
To be the customer’s first pick of EdTech companies, Neoteric had to find a way to overcome the obstacles that occur in a saturated market. If they couldn’t do this, it’s unlikely that they would achieve their goal. Let’s look at the strategy they undertook.
What methods did Neoteric adopt to accomplish this?
Content marketing is a broad spectrum. Though every business will utilize this strategy, they won’t all do it the same way. In some cases, this will be a reflection of the industry or audience. But a brand that does it better than their competition won’t simply deliver high-quality content. They will fill a gap and meet a need that hasn’t been discovered yet.
Below are some of the ways Neoteric does something different than the conventional. That isn’t to say that no other EdTech software development services are doing them, but they are underutilized tools. These should be combined with other devices for a full effect, such as blogging educational content or creating engaging videos about the learning process.
Some people don’t even consider in-person events to be a part of content marketing. This is because they only think of the written, the filmed, or the designed materials. Neglecting such a useful tool can put you many steps behind the innovative few who embrace it.
If you could meet your target audience in the real world, you’d build relationships so much faster, they’d be more likely to stay loyal, and you’d be the only brand on their mind. Why wouldn’t you be, when you’re doing something that only a handful of your competitors are?
E-learning software is widespread in schools and a lot of us work from the comfort of our home computers. But companies sometimes ignore the consumer’s need for a human touch as well as an online relationship. Neoteric understood this when they introduced live events to their strategy. Here are some of the reasons why the method works so well.
- The downloadable materials from past events accomplish two things. They make consumers more likely to join the next meeting and they don’t cost anything, which only increases the value of Neoteric’s products.
- Customers are hungry for a connection. When you provide one, they’ll be sure to choose your business over another. A live event breaks down the borders between consumer and provider by offering a fully intimate and immersed experience.
- EdTech is all about the perfect learning experience. Neoteric don’t just take the opportunity to plug their products. They talk about new and exciting developments in the industry, such as e-commerce in AI and digital fitness mobile apps. People will see how passionate you are and trust you with their online education.
Most commonly, businesses use success stories in the style of a review or testimonial. These are displayed somewhere on their website or their social media. But this isn’t having as big of an impact as it could, and there are better ways to draw consumers in.
You need to try storytelling. For example, when Neoteric shared the work they did with a client, they didn’t just publish a quote that says how well the project went. Instead, they spent time going into detail about how they built Korki an educational platform in 4 days.
This method works a lot like case studies in the sense that you get to showcase your ability. However, a success story focuses more on the client’s opinion of your work. Below are some of the benefits of this approach and why Neoteric implemented it.
- A success story is the easiest way to prove return on investment while sprinkling in some complimentary direct quotes from clients too. If you can be the business that shows and tells, you’ll come out on top.
- Neoteric’s content shows the reader what tasks they undertook, why they did them, and what challenges they overcame. This demonstrates that they have a very good understanding of user experience (UX), which is a large factor in a consumer’s purchasing habits.
- There is a call to action at the bottom of each story, such as “Do you like our work? Let’s talk about your project.” 70% of small B2B businesses lack these in their strategy, so they are another great way of staying ahead of a lot of companies.
Done right, content marketing will be the key to outperforming your digital rivals. There’s no need to take our word for it, though. Let’s dive into some metrics and determine if this strategy was the right one for Neoteric and if it could be the right one for you as well.
Was Neoteric’s chosen approach successful?
Content marketing is a craft that needs to be perfected over time. Once you get there, you’ll be shocked at how far it can take you. You’ll be more visible than ever, generate more brand awareness, and keep customers loyal to you, not the competition.
There are several ways you can determine how successful this strategy has been for your company’s performance. The most effective way is through branding metrics. According to Attest, there are 14 of them that are essential for every business to use. Here are the cherry-picked few that we think provide the most insight.
- Viewable impressions
So, does Neoteric have what it takes to join the ranks of the marketing masters recognized around the world? No one can say for sure. But we can use these measures to determine if the business has managed to leverage themselves as a name to remember.
If your ad wasn’t seen by a human being and doesn’t appear on-screen, then it probably isn’t performing very well. This measure is known as a viewable impression. What is the easiest way to determine if Neoteric is visible? By looking at their position on Google.
Disregarding the sponsored links and ads, Neoteric holds the 4th highest position on the first SERP when you search for “EdTech development companies”.
The business has avoided the shudder-inducing second SERP page and is one of the first brands that a new consumer will see after a search. That’s a pretty sure sign that they’re doing something right. Especially since experts have proven that if you can rank on top, you will become 10 times better than your competitors.
A potential buyer, especially one in search of an EdTech product, will do lots of research and contemplating. They’ll probably click through most of the links on the first SERP before making a decision. Therefore, a successful brand needs a way to make them stay.
EdTech companies are unlikely to gain visibility in the same way as a cosmetics brand, for example. This is largely due to their audience. Professionals, teachers, and business owners are most likely to purchase from these providers. The learners, who are often children, won’t be the ones buying, it will be their parents or educational institutions.
Consumers in this age bracket won’t be as interested in influencer marketing. The phenomenon of “TikTok made me buy it” probably won’t affect them as it does younger users. Instead, they are much more likely to be swayed by methods such as:
- Online reviews
- Case studies
So, social media isn’t going to be the be-all and end-all in the education industry. That being said, it does still need to be considered for a full picture. So, let’s explore one channel, Facebook, which is the preferred platform for older professionals and audiences above the age of 50.
Neoteric has more visibility than the alternatives when you compare their follower count to competing EdTech companies. Which is exactly what we’re going to do. Let’s explore the Facebook statistics of other businesses that ranked highly on the SERPS.
Online presence doesn’t end there. A quick search of “EdTech development company Neoteric” brings up a multitude of positive articles, such as the ones below. It’s safe to say that the company is being talked about, which is, of course, an undeniable sign of visibility.
The reason sales made it onto the above-mentioned list is that, whether we like it or not, revenue is a huge factor in success. After all, if a business doesn’t have the income to sustain itself, it isn’t going anywhere.
So, can Neoteric stand their ground? The chances are high when you consider their annual revenue is an impressive $6.2 million per year.
Increasing revenue can attract partners, customers, and stakeholders to a business. They’d probably rather work with someone who is established and has more growth opportunities. This sets Neoteric apart from the startups and developing brands. It is likely that they have become more competitive in the marketplace as a result of their finances.
Businesses do not all follow the same template. It’s a good thing too, or it would be even harder to stand out as an EdTech business. There’s no point replicating every one of Neoteric’s moves because they might not have the same effect on your performance. You should use this as a learning opportunity to leverage your own company’s value.
Let’s clarify what we’ve discussed here. How do you become the MVP of the EdTech industry? You need to come up with creative solutions, stay true to what you do best, and don’t be afraid to be different. Consumers will respond to a brand that takes the road less traveled. It shows that they know what they’re doing.