There are 5 essential metrics for edtech startups to improve profitability

While some experts predict a second honeymoon period for edtech, entrepreneurs in the sector must change their strategies and figure out how to achieve more with less.

It makes sense to anticipate making a lot of money if you have a great product, fantastic marketing, and fantastic sales teams. Unfortunately, in practice, these things barely make a difference.

You’ll be successful as soon as you understand what makes each of your strategies “effective” or “good.” To increase revenue, it’s crucial to learn how to deconstruct your strategies.

Direct methods to boost revenue
Examine the efficiency of the sales department.
Identifying each manager’s desired outcomes is the first step in the analysis of metrics. Knowing how much time and effort each person is investing daily is crucial because there are only so many things one person can accomplish.

It’s critical to evaluate the workloads in your sales department to determine who is receiving too much or too little work. A sales manager may frequently be given too many leads, but this can hinder their productivity. Sales managers who are overworked find it difficult to interact with customers effectively, which has a negative impact on the overall return on marketing expenditure.

Based on your product, you can determine “normal” workloads and take measures to delay distributing new leads to overworked sales managers until their workloads have returned to normal.

How quickly sales managers respond to incoming requests can be gauged from the service-level agreements (SLAs) of each lead SLA. According to our data, conversion rates and elapsed time are inversely related.

Within five to twenty minutes, managers should return calls to clients. If callback times are between 30 minutes and an hour, conversion rates may drop by 20% to 30%. A manager’s conversion rate is cut in half if they call back customers after an hour.

Create a straightforward dashboard to track SLA daily and determine whether your team is overworked or lacking in leads.

Rate of student loans and bank deferrals being approved