In line with the global trend of increasing educational spend, the Australian education market is growing and highly profitable.
Even when other industries (airlines, travel, hospitality, etc.) were hit hard by COVID, edtech and online learning saw a great spike. The burgeoning demand for educational resources shows that even during challenging economic times, consumers still care about education, personal growth, and self-improvement.
However, as with any growing industry, competition is fierce. Those education brands with dynamic and effective marketing strategies and programs will be more successful than those without.
Snapshot of the Australian Education Industry
Strong Australian education sectors include education and training, international education, online education, mobile learning. Of course, each sector is only as strong as its marketing — no matter what the product or service, marketing is crucial for education brands to thrive.
Here are some important statistics to keep in mind:
The Education and Training industry grew 0.2% per year on average between 2018 and 2023, reaching $144.8 billion in 2023 (IBISWorld).
The Australian EdTech sector is made up of 700 companies, employs 17,000 people nationally, and generated over $2.9 billion in revenue in the fiscal year of 2023. Export revenue accounts for $900 million of the total. (EduGrowth)
In international education, following the CovId downturn, Australia saw an 86% increase in income from international student recruitment in 2023, reaching $152 million (MSM Reporter). This rebound highlights the resilience of Australia’s education sector and its adaptability to market shock.
Australian university revenue dropped 1.9% over the five years leading up to 2024, but still generates $37.1 billion a year. (IBISWorld)
The Australian education apps market is expected to grow at a CAGR of 10.41% between 2022 and 2027, reaching $203.50 million by 2027 (Statista)
The global education apps market reached $43,830 million in 2022 and is estimated to grow at a CAGR of 15% between 2023 and 2029, ultimately reaching $101,330 in 2029 (Yahoo Finance)
5 Ways Education Brands Can Implement Sustainable Growth Practices
As evidenced above, the Australian education sector is thriving — here are 5 long-term, sustainable growth practices marketers can tap into to get a piece of the pie.
1. Test different value messaging options
There are many reasons why consumers choose one education brand over another: reputation, interesting content, user-friendliness, personalisation, scholarships, community, interactive features, social consciousness — and of course, price. In an industry saturated with choice, testing different messaging options can help your brand find its sweet spot (or several) and avoid making cost the primary deciding factor for consumers.
2. Align brand messaging to Search trends
Whether you are marketing a school, course, service, or product, Google Keyword Planner is a great way to identify the top trending searches related to your brand, as well as the least trending subjects. Investing in trending searches differs from other growth marketing initiatives, which essentially create something from scratch. In this case, you already know there is an interest and demand, and you adapt your message to suit an already-existing audience. On the flip side, following Search trends can help you identify areas that you are currently investing in that do not have growth potential.
3. Monitor cultural events/trends to identify new angles to engage audiences
Growth is, by definition, dynamic, which means that companies that stay abreast of the latest trends (digital and physical), have a better chance of adapting and reaching new audiences. Toward this end, education brands should monitor cultural events and trends to identify new angles to engage specific audiences. For example, when ChatGPT launched in November 2022 (more a cultural revolution than an event), education brands could connect to it in some way, thereby finding a new angle to engage specific audiences who were interested in this tool for educational and professional purposes.
4. Create and promote ownable courses and assets
Build a loyal user base and appeal to new audiences by making your courses and brand assets uniquely yours. This includes being the first to market in certain courses, products, or services in the education sphere, consistently posting industry blogs and insightful social media content, and creating an overall brand narrative that resonates with consumers. As a Forbes article put it, “Your brand is your greatest business asset.” As such, use it to make your brand grow.
5. Stay on top of the latest platform updates
Are you up-to-date on the latest digital platform features and opportunities offered by Meta, Google, TikTok, LinkedIn, programmatic display, digital OOH, and more? These platforms are constantly being updated with new targeting options, creative formats, algorithms, AI capabilities, and other handy marketing tools.
For example, in November 2023, LinkedIn rolled out new enhancements to LinkedIn ads, including its Conversions API (CAPI), a privacy-compliant and future-proof solution that gives B2B marketers full control over their data while improving full-funnel measurement. In February 2024, Google rolled out changes to the ways responsive search ads work with assets like images and sitelinks, including the option to associate up to 3 headlines and 2 descriptions at the campaign level, and letting responsive search ads show different headlines when predicted to improve ad performance.
Understanding the latest changes is crucial for maximising the results from your campaigns.