With more people turning to technology to improve their learning experience, the EdTech industry is poised for significant growth.
It also means potential competitors are cropping up every day – targeting your existing customers and prospective customers. With all this jostling for market share, it is important to keep a close eye on the customer experience to avoid losing their business and importantly, sustainable growth.
We only need to look at some of the fastest growing companies in highly competitive industries to see why this makes sense. Take for example Southwest Airlines or Amazon. These companies have all thrived in the face of much larger and well-established competitors. What’s been the biggest differentiators for them? Customer service excellence. These companies understood that to stand out, you need to establish a reputation for treating customers in a consistent, reliable, and extraordinary way.
How can you build a reputation that pays off by emphasizing a strong commitment to the customer experience?
Regularly assess customer sentiment
Measuring the customer experience is vital for sustainable success. Just ask our clients. By utilizing programs like Net Promoter Score, Customer Defection Analysis, and a Customer Advisory Board, your company will be able to clearly see what is working well for customers. You’ll also gain critical insights which will allow you to confidently direct resources towards enhancements that will produce the greatest return-on-investment.
Listen carefully to how well you are solving problems and providing value
It’s important to not only to gather customer feedback but to learn from it as well. Make sure you’re asking the right questions and sharing the feedback with the appropriate people. An efficient and impartial way to achieve this is by having a third-party company in your corner with your best interest – and bottom line- in mind.
Act on the important insights shared by your customers
So you’ve started engaging with your customers to understand their satisfaction drivers. You’ve identified pain-points that may exist in the relationship. What’s the next step to strengthen your service-centric culture? Use their feedback to guide your decision-making at the strategic level. Then, let them know what steps your taking as a result of their feedback. Customers will appreciate their voices are being heard and leading to action.
Commit to continuous improvement
“If you’re not learning, you’re not growing.” This is true in all of life’s classrooms, but especially in business. To stand out as a customer experience leader in the EdTech industry, we believe you must subscribe to the belief that there is no room for complacency or stagnation. Your customer experience initiative will require year-round dialogue and year-round commitment. That’s why having experts in your corner can be the difference between honor roll or flunking. Just ask our clients, Kaplan Professional, Parchment, and DreamBox Learning. These companies understand that the customer experience is something you must cultivate and actively manage, just as you would with any other initiative at your company. They also have experienced the benefits that customer feedback programs provide – much-needed clarity into customer expectations and experiences – which has helped them succeed in a competitive market.
When it comes to earning a stellar reputation in your industry, it’s important to deliver experiences your customers will appreciate and value. We sincerely believe there is no substitute for partnering with a third-party expert who can ensure your customer feedback program provides your team with relevant and actionable insights that will drive continuous improvement. The right customer experience strategy will surely put you at the top of the EdTech industry class.
What’s next?
Read this success story with Parchment, a digital credential service that has helped millions of people and thousands of schools and universities exchange more than 20 million transcripts and other credentials globally. The story shares how the company’s feedback program managed by Satrix gathers reliable, representative and actionable insights to guide decision making and craft their roadmap. Not only has this led to a triple-digit Net Promoter Score improvement, but more than half the company’s customers are also Promoters that are much more receptive to new products/services.