Business Growth Strategy for FIITJEE
Slide-1:
Key Highlights of presentation: • Building an Organic Growth for increasing the admissions and WOM publicity. • Creating a new value proposition through Product Optimization & Hybrid learning • Building a sales funnel through Online classes to promote growth in offline admissions. • Building a FIITJEE Alumni Network for career guidance in the present confused world.
Overall, Creating an ECOSYSTEM of FIITJEE offerings that would propel growth for the next 10 years.
Slide-2:
Who am I?
Slide – 3:
The present JEE & NEET Coaching industry is slowly transitioning from Growth stage to Maturity stage – So, its going to be Price War ahead.
How can we increase the sales in the present market, where the threat from competitors such as local institutes & ed-tech players is rapidly increasing.
Slide – 4:
Smartphone Mobile Industry – Apple is still the Market Leader
Reason: Apple has built an Ecosystem, where other players have built product features.
Slide – 5:
Step – 1:
Improvising on Sales Funnel. To my knowledge, our Sales Funnel starts from Registrations to FTRE, Big Bang Edge, and 360 diagnostic test etc, where we attract students by offering scholarships to them.
I believe we can attract students & parents with one step even further ahead.
We can Conduct FIITJEE Competitive exams for School students (6-10th) across Tamilnadu and reward the students on State ranks & District Ranks.
The competitive exams can be
The prizes for the Winners will be
The purpose served by these activities:
Overall Result: FIITJEE Brand will get more closer to the Customers and We would be attracting more & more Pull sales rather than Push Sales.
A Rough Calculation is follows:
At a District Headquarters, Expenses: Classroom rent per day: Rs 20,000 (Strength of 50 students) Invigilators: Rs. 1500 Question Papers: Rs: 50*10 = 500 Miscellaneous: 20,000
Income: Exam Fee: 50*500 = Rs. 25,000 Returns: 50 Sales Leads and direct access to toppers in the district.
Out of 50 leads generated, we can convert atleast 5-6 into Pinnacle admissions and sell Online products for another 10-15.
FIITJEE Brand will penetrate into district levels and we will attract more Pull Sales than Push sales.
Market understanding in each district for prospective of opening up new centres across Tamil Nadu.
Inspiration behind this idea: I got district -1st in School level competitive exams and I come from rural area. Also, in MBA colleges, big corporates does not come directly but rather conduct case challenges to access the students and give perks like priority interview opportunity etc.
Step – 2:
Product Optimization
Present Product Offerings: - Classroom learning, CPPs, Doubt clearing sessions, Weekly Tests, Counselling sessions, Mock & Grand Test series etc – all these are being offered by almost every other institute in the market in one mode or other mode.
Parents now regard these as Quality standards for all institutes.
How can we differentiate from other institutes? Parents are now expecting more than this?
Quality study materials and top-quality faculty are no longer Unique Selling value proposition. Parents are perceiving that the top faculty are only for top students and my child is an average student. Top faculty will not give personalized attention for my child.
In fact, local institutes are using this point as their USP to attract admissions. We are a small & local institute and thus Personalized attention will be given to each & every student unlike big corporates. We also have the top level faculty, who have taught in Big corporates like FIITJEE, Allen, Akash etc. Study materials on par with the Big corporates.
So, how can we differentiate our product offerings in this competitive environment?
FIITJEE USP is – Pattern proof teaching methodologies.
Let’s extend this to further level – Improvisation on Student’s learning Ability and Customization of results.
At the end, education is meant to improve the student’s learning capabilities rather than only for cracking exams.
Parents are looking for education which is catered to their child’s level – the trend is changing from olden days of education model, where the students are expected to catch upto the level of teacher.
Thus, let’s bring in a customized result analysis on Student’s learning capabilities and not just limit the result analysis only to a particular question paper.
Presently, the result analysis is centered around diagnosing student’s ability to answer Easy, Medium & difficult questions and to an extent identifying strength & weak topic areas.
Let’s Optimize this result analysis to the next level – Segregating Errors into Capabilities & Attitude mistakes rather than into difficulty levels.
We can achieve this by using the latest Machine Learning algorithms and Data Visualization tools – My present working project.
This can be achieved by using the OMR answer scripts itself and can be further extended to Mypat.
Through this product optimization – We can build confidence in Parent’s mind that FIITJEE, as an institute is focused on improving the student’s capabilities and not just only on content delivery unlike other institutes.
Step – 3:
Bundling of Offline & Online products
As many students would like to have Hybrid learning opportunities, we can bundle Offline & Online products as follows:
Advantage: Cost optimization in operations and Wider reach of students.
Example: Mint Subscriptions
Step – 4:
Building Sales channel through Online classes for Offline Admissions – Upselling
Selling the course content in modular format rather than as a full package.
Biggest problem of present students is missing concepts and not able to cover them up. Of course, there is a lot of free content is available in YouTube & other platforms, but not supplemented with CPPs, followed by tests. This also gave rise to after-class tuitions.
In modular format, we can package a module with course content, relevant CPPs & tests, doubt clearing sessions (Online & offline) and offer it to students. Once students get habituated to FIITJEE modules, then it will create a Virtuous cycle of buying more modules from FIITJEE Platform.
If he/she is a student of 9th class – Can be easily motivated to take Admissions for Pinnacle program in Class 11
If he/she is a student of 11th & 12th Class – Can be easily motivated to take admissions in “One-year extended classroom program”.
Step – 5:
Building FIITJEE Alumni Network
Presently the world is changing rapidly with a lot of opportunities opening up and many students are trying to figure out what they want to be – Not just in school and during every phase of life.
As your net worth is decided by your network, Lets build an Alumni network for all FIITJEE students, where past students from every sphere can stay connected even after they completed their studies from FIITJEE.
This will help students for career guidance and will formulate an ecosystem of FIITJEE Brand.
I believe, through these 5 steps, we can create a Value chain from beginning to end and beyond. This will position FIITJEE as an Ecosystem of educational offerings with multiple entry points. If once student enters into ecosystem, then automatically he will be sent on a virtuous loop of buying other products.
As majority of customers of FIITJEE comprises of Upper Middle class to Upper class segment in Income levels, they will be ready to pay the premium price for the Value chain offered by FIITJEE, thus keeping FIITJEE out of Price war in the market.
My Strengths & Unique Skill set:
Above all, My Vision, Mission, Passion and Commitment.
Create content for Business presentation to pitch for my chairman with the above mentioned plan & ideas. Our company is FIITJEE Ltd, which provide JEE Advanced & NEET exam coaching all over India. My presentation should be centric to FIITJEE Tamilnadu Center.
Presentation Content:
Title Slide:
Slide 1: Key Highlights
3: Market Transition
Slide 4: Learnings from Apple
Slide 5: Business Growth Strategy – Steps 1-5
Slide 6: Business Growth Strategy – Steps 1-5 (Continued) Step 2: Product Optimization
Slide 7: Business Growth Strategy – Steps 1-5 (Contin)
Slide 8: Business Growth Strategy – Steps 1-5 (ued)
Slide 9: Growth Strategy – Steps 1-5 (Continued) Step 5: Building FIITJEE Alumni Network
Slide : Strengths & Unique Skill Set
Slide 11: Conclusion
Slide 12: Vision, Mission, and Commitment
This presentation aims to effectively communicate the proactive steps and strategic vision for the growth of FIITJEE Tamil Nadu Center in the competitive educational landscape.
Write the slides content as per the above mentioned theme
Slide 1: Key Highlights Title: Building a Sustainable Growth Ecosystem for FIITJEE Tamil Nadu
Key Highlights of presentation: • Building Organic Growth for increased admissions and Word-Of-Mouth (WOM) publicity. • Creating a new value proposition through Product Optimization & Hybrid Learning • Establishing a sales funnel through Online classes to drive growth in offline admissions. • Constructing a FIITJEE Alumni Network for career guidance in a rapidly changing world.
Overall, Creating an ECOSYSTEM of FIITJEE offerings to propel growth for the next 10 years.
Slide 2: Introduction Title: Who am I?
Slide 3: Transitioning Industry and Sales Strategy Title: Navigating the Transitioning JEE & NEET Coaching Industry
The present JEE & NEET Coaching industry is transitioning from the Growth stage to the Maturity stage, signaling an impending Price War. Our Strategy: How to increase sales in the evolving landscape amidst growing competition from local institutes & ed-tech players.
Slide 4: Market Leadership Lessons Title: Drawing Inspiration from the Mobile Industry
Drawing parallels with the Smartphone Mobile Industry, where Apple's ecosystem approach has cemented its market leadership, while other players compete based on product features.
Slide 5: Step 1 - Improvising on Sales Funnel Title: Innovating the Sales Funnel for Growth
Proposed Initiative: Conduct FIITJEE Competitive exams for School students (6-10th) across Tamil Nadu to identify and reward top talent through events like Maths Marathon, Curious Mind Carnival, and Cosmic Discovery Carnival.
Purpose:
Potential Impact:
Slide 6: Step 2 - Product Optimization Title: Rethinking Product Offerings for Differentiation
Challenges:
Proposed Differentiation:
Impact:
Slide 7: Step 3 - Bundling Offline & Online Products Title: Embracing Hybrid Learning Models
Proposed Approach:
Advantages:
Example:
Slide 8: Step 4 - Building Online Sales Channels Title: Modular Upselling Strategy for Offline Admissions
Approach:
Impact:
Slide 9: Step 5 - Building FIITJEE Alumni Network Title: Fostering Lifelong Connections and Career Guidance Opportunities
Objective:
Impact:
Slide 10: Unique Skill Set & Vision Title: Leveraging Expertise and Vision for Success
Leveraging my unique skill set, including:
Our vision, mission, passion, and commitment drive the development of a robust growth strategy.
End of Presentation
This presentation is designed to showcase a comprehensive and innovative growth strategy for FIITJEE Tamil Nadu, centered around differentiation, hybrid learning, and creating a lasting ecosystem around the FIITJEE brand.
Strategy details for increasing sales
To increase sales, the strategy encompasses several key initiatives:
Improvising on Sales Funnel:
Product Optimization:
Building Online Channels:
Building FIITJEE Alumni Network:
Overall, the strategy emphasizes creating value propositions, utilizing technology, and building long-term relationships to drive sales growth for FIITJEE.