As educational institutions scale to survive post-pandemic-induced lockdown, there has been a sea change in how they leverage deep marketing automation and predictive analytics to acquire students. Today, student acquisition remains a big challenge. The cost of acquiring a student is extremely high while conversions are low. Return on marketing is low and the inability to optimize costs across all acquisition channels requires fine-tuning of go-to-market engines (GTMs). Harnessing the needs of this sector is ExtraaEdge, a B2B Vertical SaaS Enterprise that enables educational institutions to automate, streamline and manage their student enrollment funnel and optimize marketing costs through data science, marketing automation and predictive analytics .
Founded by Abishek Ballabh and Sushil Mundada,provides all the tools needed for end-to-end automation of admissions processes. ExtraaEdge, with its data analysis software, combines the modern scientific approach to study and analyze student behavior by enabling institutes to measure their return on investment during the admission period. It enables corrective action to be taken by optimizing efforts at the micro level. This increases attendance during admissions and reduces time spent on marketing efforts. ExtraaEdge’s built-in reporting dashboard is an effective mechanism for analyzing the performance of multiple centers, franchises, teams and marketing channels. It’s a real-time tracking of marketing ROI, conversion funnel, and advisor effectiveness.
Currently, more than 250 global education brands and admissions teams are engaged with ExtraaEdge. The company says 18% of remote advising teams increased conversions, while online application automation saw 22% growth and there was 100% digitization of offline admissions across universities with 88% bot-led conversational boards.
Massive marketing spend
Educational institutions spend millions on marketing. For example, the University of Phoenix, the largest private university in the United States, with 1,00,000 seats and revenue of $420 million, spends about $60 million on marketing. In India, the Narayana group reserves a marketing expenditure of more than 60 million dollars. IDP, an international education specialist offering professional courses to more than 75,000 people, has planned a marketing budget of $60 million.
Statistics reveal that 70% of institutions have a marketing budget of more than 45% for online media. 60% of institutions have their own dedicated admissions and marketing teams. 62% of spend shifts from conventional offline advertising to digital brand building. Targeted gross enrollment rate of 30% by 2022, which would bring 5 million students to the supply side. This opened the doors to an $18 billion global market opportunity.
“Education brands and other important ecosystem stakeholders are looking for a technology stack to seamlessly manage their admissions process. education with a new-age technology stack, student acquisition remains white space. ExtraaEdge builds this stack by leveraging the power of machine learning and new-age marketing automation to make admissions predictable,” says Abhishek.
Meet the team
Abhishek, CEO and co-founder of ExtraaEdge, previously worked at HSBC GLT in various roles. He also worked with MindTickle Inc (Series A, B, C), a fast-growing SaaS B2B startup.
As COO and co-founder, Sushil brings his wealth of experience as a business analyst at HSBC and Global Technology Services. As a former HSBC-GLT (Lead BA & Architect – Global CRM), SLP Fellow with over 15 years of experience in Cloud CRM, enterprise product management, business development and customer success, he strengthens the team with his solid analytical experience.
Supreetha Gonsalves is AVP – Sales with over 15 years of learning in a B2B SaaS environment. An entrepreneur at heart and a sales professional by choice, her cross-industry experience combining education, pharmaceuticals and IT has taught her to be an experimenter.
Other important team members include Daksh AgarwalAVP – Growth; Sagar Kinholkar, AVP – Engineering; and Deepak ChauhanVP – Customer Success.
With their combined passion for education and expertise in data and CRM, they are helping to take ExtraaEdge to the next level.
Adding more than 180 customers, the company’s annual SaaS revenue catapulted 120%, recording $1.1 million in annual recurring revenue in 2021. With industry growth of 18% CAGR and likely to reach approximately $30 billion by 2025, ExtraaEdge’s mission is to be the most popular educational CRM and marketing automation software helping institutes scale their admissions processes.
ExtraaEdge has raised $1.7m from leading VCs Sprout, Pentathlon Ventures, 9Unicorns and leading Indian Angels Indian Angel Network, TIE Pune and FirstCheque. It is building the future of SaaS enrollment with its data science-based admissions and marketing technology. ExtraaEdge’s marketing stack has the potential to enable half a million educational institutions and brands to acquire the next 30 million students.
Having already integrated leading institutions like Lead School, Allen Education Services and global universities like BITS Pilani, Dubai, Manchester Metropolitan, ECCU USA and edtech brands like ImagineXP, AhaGuru, Narayana Group, FindFilo among others, it is aggressively pursuing all education brands towards digitizing their admissions process and offering end-to-end onboarding.
“We currently enable over 250 education brands to digitally engage the next million Gen Z and Millennial students. It’s a path to category leadership as the leading player in admissions technology in the global education market, doubling product capabilities to power admissions teams, and considering broader global expansion,” concludes Abhishek.