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Monday, August 15, 2022

Edtechs shift from TV spots to digital amid funds crunch | Mint - Mint

Last updated Sunday, July 17, 2022 14:20 ET , Source: NewsService

MUMBAI/NEW DELHI : India’s edtech companies, which splurged on advertisements till last year, have turned cautious, seeking out methods of digital promotion that are less expensive than chasing big-budget events on television. Companies and media planners said the industry, which was one of the top advertisers so far, will ease spending as school and offices reopen, reducing chances of enrolling for online courses.

“Edtech firms’ spend on TV advertisements, which is the most expensive marketing spending channel, has dropped by an average of 51% since January-February," said Chandrasekhar Mantha, partner, Deloitte India. Mantha said companies will instead opt for digital channels that have the potential of yielding higher conversions. “As the larger ones have already built brand awareness over the past couple of years, they will be more selective about the investments in television media and focus more on increasing traffic organically, search engine optimization (SEO), direct traffic, and building loyalty," he said.

Piyush Tripathi, senior business director, digital media and e-commerce lead, at digital agency Isobar India, agreed. “To aid discoverability, edtech firms are using Google and Facebook to create sharply targeted video and display campaigns and complementing the effort of search engines via organic and paid visibility."

The new cautious approach comes at a time when edtech firms are seeing their funding pipeline dry up, triggering layoffs and cost cuts.

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