With the outbreak of the coronavirus, most of the ESL teachers can't operate any offline class. Most of the schools don't get any income for 3 months, and can't pay the full salary for their teachers. In the worse scenario, some brands dismissal over 60% of their teaching staff in order to survive.
In this scenario, lots of teachers turn from offline jobs to online teaching jobs.
The outbreak of the coronavirus has been a disaster for the traditional education industry, but it has been a historical chance for the online education industry.
Online or offline, what will happen to China's ESL market. Let's listen to the opinion of Dong Zheng, the founder of SHINER Capital.
"With the development of the online education industry, I think it is not only the integration of online and offline, but also a comprehensive attack from outside the school on the campus."
--------Dong Zheng, the founder of SHINER Capital
Two months have passed since the outbreak of coronavirus. Under the tide of "Suspension of class, no suspension of education", the online education industry has had explosive growth. Behind the explosion of customer data, what is the future of online education?
A few days ago, Oriental coordinate institute of New Oriental education co., LTD., in conjunction with Weibo education, held a "coordinate thinking meeting" with the theme of "insight behind the explosion of online education customer data".At the meeting, SHINER capital founder Dong Zheng combined with the conference theme, from the perspective of investors for the corresponding share.
SHINER capital is an investment service organization based on the Chinese market and facing domestic and foreign customers. Focus on the new economic field of high-quality enterprises, customize the high-speed development process of capital operations for customers, and provide full service.
Mr. Dong, the former managing director of HINA investment group, has been involved in investment and banking since 2004. He has invested in projects such as best logistics, Chinese online, SHENGJING 360.
Dong shares tips are as follows:
The collision between traditional education and online education just begin
The covid-19 outbreak had a completely different impact on us than SARS. The world economy is in decline, but in 2003 it was booming. Just after the first dotcom bubble, China's GDP per head was accelerating...The economic environment, the duration of the epidemic, and the scope of the epidemic are all different.
But for now, education, especially online education, is the only sector that has been left open to opportunity in this outbreak. Outbreaks present both opportunities and challenges. The opportunity comes from the customer side having a clear understanding of online education and being very transparent - every corner of China knows about online education. The challenge is that all the offline education institutions now know it's time to do the lesson online.
At this point, the collision between offline education and online education really began. We saw some amazing data in the background system. For example, in the discipline of rigid demand, the proportion of offline customers switching to online is as high as 95%. For example, if a child is tutored in an offline winter vacation class, his conversion rate can reach 95% when he goes online. Online institutions don't even need discounts. For example, if a child signs up for a class of 10,000 yuan, the online organization issues a voucher of 500 yuan and the class of 10,000 yuan can be continued, which is fully recognized and accepted by the parents. Meanwhile, some companies do get a lot of traffic through free classes.
But how does the traffic stay? It mainly looks at two aspects: one is the technical level of the platform, and the other is the quality of the content. If the flow can not be retained, it means the platform is not good enough in these two aspects. Now, users have so many options, one can sign up for several classes and can quickly identify the quality of the class.