5 Key Metrics That Help Edtech Startups Improve Their Profitability TechCrunch

While some experts Expect a second edtech honeymoon period as founders in the space need to change tactics and learn how to get more results with less money.

If you have a great product, a great marketing team, and a great sales team, it makes sense to expect to earn a lot. Unfortunately, the reality is that these things don’t help much at all.

Once you understand what makes each of your strategies “effective” or “good,” you will be successful. It’s important to learn how to break down your tactics to improve your earnings.

Direct ways to improve income

Addressing Sales Department Effectiveness

Metrics analysis begins with determining each manager’s target results. Since a person cannot do much, it is important to know how much time and effort each devotes daily.

It’s important to assess your sales department’s workload to see if someone is getting too much or too little work. Often a sales manager is assigned too many leads, but this can hurt their effectiveness. Overworked sales managers cannot communicate effectively with customers, which negatively affects the overall return on marketing investment.

You can calculate “normal” workloads based on your product and take steps to avoid assigning new leads to overworked sales managers until their workloads have normalized.

The service level agreement (SLA) of each prospect

SLAs can be used as an indicator of how quickly sales managers respond to incoming requests. Our data shows that elapsed time is directly correlated to conversion rates.

Managers should call customers back within 5-20 minutes. Conversion rates can drop by 20% to 30% if callback times are between 30 minutes and an hour. A manager who calls customers back after an hour cuts their conversion rate in half.

Create a simple dashboard to track SLA by day and see if your team is overloaded or not having enough leads.

Approval rate for bank deferrals and student loans