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Helping to bring technology to life in Further Education

Helping to bring technology to life in Further Education. Presentation Overview. Demonstrate why FE can be a good sector for new idea in technology Discuss the sales cycle in FE and look at what some of the challenges are

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Helping to bring technology to life in Further Education

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  1. Helping to bring technology to life in Further Education

  2. Presentation Overview • Demonstrate why FE can be a good sector for new idea in technology • Discuss the sales cycle in FE and look at what some of the challenges are • Look at a new model in EdTech sales that could deliver significant time & cost savings • Provide case studies to show how effective and efficient this new model could be • Discuss why Tech Stories experience could be well placed to play a role in establishing this kind of model

  3. About the FE Sector • 407 Further Education Colleges • £6.6 Billion Budget • Close knit community - • Allows word of mouth about new • ideas & good suppliers to spread • A £3k service at 200 colleges = £600k “No one ever got fired for going with IBM”

  4. Technology in FE – Too Much Choice? Which Area of Education? Education Specialists Main Stream High Growth Start Ups • Disparity between exhibitors at edu events and the most used tools in the Classroom. • Difference appear to be that services are either free and/or they enjoy growth through word of mouth. . 1,268 edu Suppliers 42 of Top 100 edu tools 4-5 Years before SM was adopted Good products get bought... They don’t need to be sold!

  5. Technology in FE – Different Perspectives?Innovators & Visionaries Vs Skeptics & Laggards When discussing any emerging new technology, there are “early adopter” proponents as well as those that are more cautious about the latest technology. Moore’s Competitive Positioning Compass “What difference has all this technology made to teaching, learning or exam results?” “We’re going to use these tools anyway, we may as well get an understanding of them sooner rather than later” “We can end up spending as much time debating views on technology in general than on the specifics of what the new technology will do once it’s in the classroom” Tech Story

  6. Typical FE Sales Cycle Identify/Recruit Edu specialist Cost/Time: 4-6 wks Source College Contacts Cost/Time: 1 wk • Introduction to • Key influencers • Cost/Time: 12 wks • Identify Decision • Makers • Cost/Time: 4-6 wks • Initial Meeting • May include prospects who are: • Making up numbers for quote • Not the decision makers • General interest • Conservative and risk averse • Initial phone • pitch • Cost/Time: 2-4 wks • Total New Customer Acquisition Cost • Time: 35 wks • Cost: £30k • Attend FE/Edu • Conferences • Cost/Time: £10k • Follow Up Meeting • Cost/Time: £5k • Internal College Due Diligence • Cost/Time: 12 wks • Initial Meeting • Cost/Time: £7k

  7. Tech Stories Potential FE Sales Cycle • 1,200 Edu Suppliers • Main Stream Suppliers • Other Start Ups Identify/Recruit Edu specialist Cost/Time: 4-6 wks Source College Contacts Cost/Time: 1 wk College Costs Supplier Costs • Identify Decision • Makers • Cost/Time: 4-6 wks • Introduction to • Key influencers • Cost/Time: 12 wks • Sales Calls • Cost/Time: 12 wks • Initial Meeting • May include prospects who are: • Making up numbers for quote • Not the decision makers • General interest • Conservative and risk averse • Initial phone • pitch • Cost/Time: 2-4 wks • Follow Up Enquiries • Cost/Time: 2-4 wks • Cost of sales calls • to the college • Time: 35 wks • Cost: £30k • Cost of sales calls • to the college • Time Saved: 35 wks • Cost Savings: £30k • Total New Customer Acquisition Cost • Time: 35 wks • Cost: £30k • Total New Customer Acquisition Cost • Time Saved: 35 wks • Cost Savings: £30k • Attend FE/Edu • Conferences • Cost/Time: £10k • Conference Enquiries • Cost/Time: 1 wk • Follow Up Meeting • Supplier: £5k • College: 1 wk • Internal College Due Diligence • Cost/Time: 4wks • Internal College Due Diligence • Cost/Time: 12 wks • Initial Meeting • Cost/Time: 1 wk • Initial Meeting • Cost/Time: £7k

  8. Technology Adoption Life Cycle Supporters Product Visionaries Laggards – Whole Product Support Crossing the Chasm Specialist Generalist Technology Enthusiasts Pragmatist Skeptic

  9. Examples of Technology Adoption in FE Date Established: Feb 2004 Feb 2005 March 2006 • At least 368 Colleges use these sites today • At least 232 Colleges have links to them on the college homepage • Initially most colleges blocked these sites

  10. A New Tech Sales Model for FE We believe there is a model that could reward the early adopters and, at the same time, aid the decision making process of colleges that prefer “whole product solutions” We aim to make it easier for suppliers to connect with the early adopters in a more welcome and efficient way. Supporters • Revenues & Profits • Strategic Partners • Top Tier Customers • Full Product Line • Business Press Coverage • Financial Analyst Endorsements • Benchmarks • Product Reviews • Design Wins • Initial Sales Volume • Visionary Endorsements Product Company Specialist Generalist Technology Market • Market Share • Third Party Support • Standards Certification • Application Proliferation • Vertical Press Coverage • Industry Analyst Endorsements • Architecture • Schematics • Demos • Trial • Technology Press Coverage • Guru Endorsements Skeptic

  11. The Chasm New FE Tech Against discontinuous innovations, believe in traditional methods Learned the hard way that the “leading edge” is often the “bleeding edge” Match emerging technology with strategic business opportunity How has technology improved exam results? Need to neutralise their influence so they don’t block the sale. Adopt new technology because they appreciate technology for its own sake The Chasm 138 Colleges 138 Colleges 55 Colleges 65 Colleges 10 Laggards (16%) Late Majority (34%) Innovators (2.5%) Early Majority (34%) Early Adopters (13.5%)

  12. Tech Stories Potential FE Sales Cycle Identify/Recruit Edu specialist Cost/Time: 4-6 wks Source College Contacts Cost/Time: 1 wk • 1,200 Suppliers with a £3k service • would be £3.6m at 1 college. • 1,200 suppliers at 407 colleges = £1.5bn • 65 Colleges @ £3,000 = £195k • 200 Colleges @ £2,000 = £400k • Working with early adopters • in this sector would make solutions • more bespoke and facilitate growth • Introduction to • Key influencers • Cost/Time: 12 wks • Identify Decision • Makers • Cost/Time: 4-6 wks • Initial phone • pitch • Cost/Time: 2-4 wks • Total New Customer Acquisition Cost • Time: 35 wks • Cost: £30k • Total New Customer Acquisition Cost • Time Saved: 35 wks • Cost Savings: £30k • Attend FE/Edu • Conferences • Cost/Time: £10k • Follow Up Meeting • Cost/Time: £5k • Internal College Due Diligence • Cost/Time: 12 wks • Initial Meeting • Cost/Time: £7k

  13. Market Research – Pilot Project • A result of Twitter in FE Report was that I was if I’d like • to contribute to a Social Media Risk Report that • CrowdControlHQ was putting together for Further Education • Sent this report out to FE contacts • Asked if colleges would like to be involved with a pilot • 55 Colleges expressed an interest • Time & cost savings enabled CrowdControlHQ to offer a • 75% discount to “Innovators and early adopters”

  14. Market Research - Customer Validation Given that the Further Education is a small tight knit community, customer validation is key to engaging with the sector Yes • A survey was sent out to people who • had requested my reports • 46 Colleges provided some input • The feedback was extremely positive Yes Yes Yes Yes

  15. Tech Stories – Background • 12 Years experience in Higher & Further Education • Achieved 50% market share in 3 years • Helped get project recognised & recommended by • Association of FE Student Services • Healthy College Scheme • Learning Skills Improvement Service • Tied our solution into government policy – ECM, NI Healthy Colleges, Ofsted • Established on of the first UK pilots based on “social norms” • Successful handover by training team of 6 in newly established London office • Generated over £2 million over 3 years for a company with annual turnover of £1 million.

  16. Tech Stories – In-Bound, Permission Based In 2009 understood there was a shift from out bound sales calls to in-bound marketing • Explored social media and concepts • of in bound marketing • Collaborated with industry experts to • share my findings with the FE sector • Twitter in Further Education • Tech Story • Business Development Ideas for FE • “i-Don’t Smoke” Intro to Social Norms • Culture in Education

  17. Tech Stories – Social Media Followers

  18. Summary • FE Colleges can be a good sector for start ups with a strong value proposition • However internal and external factors it can make it a complex and time consuming sales process • Working with Tech Stories could help identify the crucial early adopter market and reduce the sales cycle • Tech Stories is committed to in-bound, permission based sales & marketing practices

  19. The Chasm New FE Tech Against discontinuous innovations, believe in traditional methods Learned the hard way that the “leading edge” is often the “bleeding edge” Match emerging technology with strategic business opportunity How has technology improved exam results? Need to neutralise their influence so they don’t block the sale. Adopt new technology because they appreciate technology for its own sake The Chasm 138 Colleges 138 Colleges 55 Colleges 65 Colleges 10 Laggards (16%) Late Majority (34%) Innovators (2.5%) Early Majority (34%) Early Adopters (13.5%)

  20. The Competition Inefficencies Economies of Scale Internal employees Employee churn The Chasm Waste Cost free Larger Markets Help small tech companies to apply the kind of sales principles and approaches that Microsoft, Google & Apple use

  21. Tech Stories Potential FE Sales Cycle Identify/Recruit Edu specialist Cost/Time: 4-6 wks • 1,200 Edu Suppliers • Main Stream Suppliers • Other Start Ups Source College Contacts Cost/Time: 1 wk Supplier Costs College Costs • Identify Decision • Makers • Cost/Time: 4-6 wks • Introduction to • Key influencers • Cost/Time: 12 wks • Sales Calls • Cost/Time: 12 wks • Initial phone • pitch • Cost/Time: 2-4 wks • Follow Up Enquiries • Cost/Time: 2-4 wks • Total New Customer Acquisition Cost • Time Saved: 35 wks • Cost Savings: £30k • Cost of sales calls • to the college • Time: 35 wks • Cost: £30k • Cost of sales calls • to the college • Time Saved: 35 wks • Cost Savings: £30k • Attend FE/Edu • Conferences • Cost/Time: £10k • Conference Enquiries • Cost/Time: 1 wk • Follow Up Meeting • Supplier: £5k • College: 1 wk • Internal College Due Diligence • Cost/Time: 12 wks • Internal College Due Diligence • Cost/Time: 4 wks • Initial Meeting • Cost/Time: £7k • Initial Meeting • Cost/Time: 1 wk

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