Coaching Education Industry in India has remained as an unorganized industry for quite a long time. A decade back, majority of the players were mom and pop outlets with exclusive branches and usually occupied with a sense of superiority by virtue of their exclusiveness. But, recently the trend has seen a sea change. For the past one and half decade, the coaching industry has growing at tremendous rate and the dominance of organized players can be felt very easily. Now private coaching is no more a prerogative of Engineering and Medicine aspirants. Amid this era of evolving Coaching-ecosystem, the need for a professional Marketing Department or (Marketing Process Outsourcing) Partner becomes inevitable.
Old School marketing methods viz. Pamphlets, Newspaper inserts, word of mouth, wall posters etc. are still common nowadays among many players. But at the same time, New School Marketing thoughts such as Digital Platform, Targeted Ads, innovative advertising, events etc. are also gaining popularity and acceptance among the coaching centers. The expenditure on advertising is on consistent growth for past few years. This could be due to capacity development and team building (in-house) within the coaching institutes or third party services.
Golden thumb rule of marketing expenditure between 5 to 10 percent of the total revenue is also flouted (often exceed up to 12 to 14 percent) by businesses with an expectation of rather inflated revenue in upcoming years. The winner of this extra cut throat competition is determined by the synergistic effect of 360 degree marketing activities. Many old school players are adopting new initiatives of Ed-Tech and Digital Media. At the same time, focus upon OOH, TV, Print Ads etc cannot be compromised upon by offsetting with high digital orientation.
The coaching industry in India is currently pegged at 40 billion dollars (2017) and marketing in coaching ecosystem also holds a significant promise with multibillion dollar industry potential. The entrant of new paradigms in coaching industry such as app based teaching learning is also going to revolutionize shoot up the business activities. Supplementary education and private coaching has always remained as a latent demand which is not capitalized by large players. Considering the current setup of technological advancement and readiness of consumers, it is high time that Marketers take a cue and start building a niche segment into a full-fledged industry.
Dr. Ravi is a marketing professional with 7 years of experience in academia and industry. He has worked in StartUps and SMEs in the role of Marketing Analyst and Manager. He strongly believes in striking a balance between academia and industry through regular interaction and exchange programs.