E-learning, also known as online learning, is booming and by all reasonable estimates can only grow further in the years to come. Although traditional methods of training or education are far from obsolete, organizations of all types – public schools to IT companies – are opting to train and educate via the web. Online learning offers the best and most convenient way to keep yourself up-to-speed with the latest findings in the industry and learn new skills. With the current speed of change, it is imperative for employees to be regularly trained for companies to avoid the perils of being outthought and outmaneuvered by competitors.
Work environments have become highly competitive and to progress and climb the corporate ladder, professionals need to upgrade their skills and knowledge constantly. More than 50% of working professionals pursue higher education to strengthen the prospects of finding better career opportunities. However, these training initiatives have to be supervised and managed via a reliable and consistent tracking system that can be consulted and analyzed when required. An online learning experience attempts to re-create the real-world classroom learning experience, from assembling relevant and high-quality content, distributing it to facilitate learning, to managing the learning process and providing credible validations.
The Business Challenge
To gain an in-depth understanding of the market dynamics and competitive landscape, the client – a leading advertising agency that offers customized campaigns and public relations – approached Infiniti to conduct a detailed market intelligence study to help them gauge the growth prospects of the online video training and certification market in the IT sector in the US. The scope of this research engagement was to offer strategic insights to help the client gain a better understanding of the pivotal factors affecting the market’s growth, new market entrants, key competitors and customer segments, and the latest technological trends in the market across the target region.
The primary aspect of this market intelligence engagement was to analyze the current market size and provide a breakdown of market size by B2B and B2C customer segment. Moreover, this market intelligence study also helped the client get a holistic overview of the market in terms of current saturation level, along with a detailed analysis of the marketing channels for the product category under focus, such as online, social media, display ads, and conferences. The market intelligence experts at Infiniti also carried out a competitive analysis of marketing communications and promotion strategies adopted by competitors. Additionally, ranking and recommendation of channels according to their effectiveness in reaching target customers was also carried out.
To understand the short and long-term growth prospects of this industry, Infiniti’s market intelligence experts have gathered valuable information on the new technological trends introduced in the market by established players. Our research experts also reached out to industry experts, key end-users, and procurement experts to understand their views on the market’s growth potential.
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Solution Offered and Impact
A plethora of published literature such as annual company reports, company and executive presentations, market assessment reports, and white papers were evaluated by the research experts to develop an initial hypothesis and analytical framework for the market intelligence study and the identification of credible information sources. An assessment of the IT training and certification industry involved the identification of relevant market stakeholders, and an exhaustive primary and secondary research was carried out to determine the major competitors, their revenues, and profit margins. Secondary research formed the basis of the formulation of several hypotheses, which were then verified through primary research and detailed engagements with industry experts in the online training and education market.
In a short period of 10 weeks, our market intelligence team helped the client gain a holistic overview of the online training and education market in the US. The market intelligence solutions offered by our research experts helped the client get a detailed understanding of the market size in terms of revenue and CAGR. Also, Infiniti’s research specialists provided objective insights into the different marketing channels for the product category under focus, such as online, social media, display ads, and conferences.
To assess the competition in the market, and keep a close tab on the marketing communication channels and promotional strategies of the competitors, Infiniti’s research team have recommended and ranked the channels according to their effectiveness in reaching the target customers. Moreover, an extensive proprietary database consisting of information on KOLs and analysts, academic research institutions, and major competitors and their research capabilities was developed. This database also comprises of precise and accurate information, which has been obtained through quantitative and qualitative surveys with effective response rate.
By following an established approach of gathering information through primary and secondary research techniques, Infiniti’s market intelligence experts offered the client a complete analysis of the current market scenario and the future growth prospects of the online training and education market. Furthermore, this engagement also helped the client identify the new entrants in the market, along with the latest technological trends.
In just a few weeks, the client – one of the leading marketing and advertising agency – was able to gain a clear understanding of the market’s growth prospects. Additionally, by analyzing the recent trends that drive the growth of the key industry players, this market intelligence study also helped the client identify the key factors influencing growth across target regions.
To assess the challenges specific to the online training and education industry, Infiniti’s market intelligence experts have developed an extensive proprietary database that consists of information on more than two million industry experts, key opinion leaders, end-users, and distribution channels.
Benefits of Our Integrated Market Intelligence Approach
In just a few weeks, our market intelligence study helped the client gain numerous benefits in terms of identifying new growth opportunities and understanding the growth strategies followed by market leaders. Additionally, our solution also helped the client identify the effective marketing channels used by the competitors.
Here are some of the key points appreciated by our clients:
- Dedicated Market Intelligence Portal. A centralized market intelligence platform for the collection, storing, processing, reporting, and dissemination of information with the specific purpose of assisting the decision-making process and developing actionable insights. This portal includes comprehensive information on quantitative and qualitative aspects on target markets, competitors and end-users.
- Collaborative learning. We leveraged the experience of our healthcare team and our technical capabilities to enable report-sharing and other collaborative features appreciated by client teams.
- Interactive Dashboard. Using our portal-based solution for healthcare professionals, we took a design-first approach to problem-solving and helped break through previously held assertions.
- Value for Money. Infiniti’s dedicated client management team customizes reports to suit business requirements and offers the best insights for every dollar spent.
A must-read market intelligence case study for strategy experts and decision makers looking to develop effective market entry strategies for the online training and education market.