Marketing isn’t just about paying for ads, changing the logo, or building a social media presence. True marketing goes far deeper. It’s about product design, ensuring exceptional customer service, setting the right pricing, delighting customers, and creating and living a remarkable story. For edtech business leaders in the UK, understanding this holistic approach to marketing is crucial for sustainable growth and customer loyalty.

Beyond Traditional Marketing: The CMO’s Expanding Role

In many organisations, the typical Chief Marketing Officer (CMO) is often confined to traditional marketing roles, missing out on influencing the key elements that drive customer engagement and loyalty. To truly excel, CMOs need a seat at the table where product development, customer experience, and strategic decisions are made. This ensures their team encompasses all aspects of creating value and delight for the customer.

Integrating Marketing into Product Development

Marketing should not be an afterthought in product development. Involving marketing teams from the initial stages of product design ensures that customer insights directly influence product features and functionalities. According to a study by the Product Development and Management Association (PDMA), products that incorporate customer feedback during development have a 20-30% higher success rate than those that don’t.

Enhancing Customer Service through Marketing Insights

Exceptional customer service is a cornerstone of successful edtech businesses. Marketing teams, with their deep understanding of customer pain points and expectations, can play a pivotal role in shaping customer service strategies. Research shows that 86% of buyers are willing to pay more for a great customer experience. By leveraging marketing insights, businesses can tailor their customer service to meet and exceed these expectations, fostering loyalty and advocacy.

Strategic Pricing for Market Penetration and Growth

Setting the right pricing is a delicate balance that requires thorough market research and customer understanding. Marketing teams, with their expertise in market trends and consumer behaviour, are well-equipped to inform pricing strategies. A McKinsey study found that companies using data-driven pricing strategies see a 1-2% increase in return on sales. For edtech businesses, this can translate into significant revenue growth and competitive advantage.

Creating a Remarkable Story: Building Brand and Community

A compelling brand story is more than just a marketing tool; it’s the essence of what sets an edtech company apart. Marketing teams should focus on crafting and living a remarkable story that resonates with their audience. This involves not only telling the story but also ensuring that every customer touchpoint reflects the brand’s values and mission.

The Power of the Network Effect

In the edtech sector, the network effect can be a powerful driver of growth. When users derive more value as more people use a product, it creates a self-sustaining cycle of growth. Marketing plays a crucial role in fostering this effect by turning customers into advocates and building a vibrant community around the product. Companies like Duolingo and Kahoot! have successfully leveraged the network effect to scale their user base and enhance user engagement.

So what should edtech Business Leaders be doing?

For edtech business leaders looking to grow their businesses in the UK, here are my key recommendations:

1. Involve Marketing Early in Product Development: Ensure that marketing teams are part of the initial product development discussions. This allows for a better alignment of product features with customer needs and expectations.
2. Leverage Marketing Insights for Customer Service: Use the wealth of customer data and insights that marketing teams gather to inform and enhance customer service strategies. Personalised and responsive customer service can significantly boost customer satisfaction and loyalty.
3. Adopt Data-Driven Pricing Strategies: Implement pricing strategies based on robust market research and customer data. This can help in setting competitive prices that align with customer value perception while maximising profitability.
4. Craft and Live a Compelling Brand Story: Develop a brand narrative that authentically represents your company’s mission and values. Ensure this story is consistently reflected across all customer touchpoints, from marketing materials to customer interactions.
5. Foster Community and Advocacy: Encourage and facilitate customer advocacy by building a strong community around your product. Utilise social media, forums, and user groups to create spaces where customers can share their experiences and connect with each other.

Where Does Marketing Fit in Your Business?

The role of marketing in edtech businesses extends far beyond traditional boundaries. To truly leverage marketing for growth, CMOs and marketing teams need to be integral parts of product development, customer service, and strategic decision-making processes. By embracing this holistic approach, edtech business leaders can create more value for their customers, foster loyalty, and drive sustainable growth.

By repositioning marketing as a strategic pillar within your organisation, you can ensure that every aspect of your business is aligned with the ultimate goal of delighting your customers and creating lasting impact in the edtech landscape.

Marketing is not just a function; it is a critical strategy for creating value and driving growth. As the edtech market continues to evolve, those who integrate marketing deeply into their business processes will stand out and thrive.

By understanding and implementing these principles, edtech leaders can position their companies for long-term success.