Indeed, the success rampage of BYJU’s has been very overwhelming for investors and entrepreneurs India and the rest of the world. After phenomenal success in the e-learning market in India, BYJU’s has started proliferating in western parts of the world as well.
In less than a decade, the net worth of this business unicorn has reached 10 billion. Now that’s a whopping growth! If the m-learning market is growing at an exponential rate, then you must be willing to invest in this market as well.
Well, it all starts with e-learning mobile app development. But wait, we will get to that point later, but first, let’s take a look at the factors that made BYJU’s learning platform a massive success that even Harvard Business school made it a business case.
- BYJU’s came to India when students needed a supplementary education source because the conventional education system fell short in providing a good quality of education.
- The best part about BYJU’s is that they provide education in an interactive and immersive form. Their lectures are in video forms that are digitally modified to make them more fun and interesting.
- BYJU’s not only improved the quality of education, but it also has given education mobility and flexibility. Students can learn from anywhere at any time with BYJU’s e-learning mobile app.
If you consider these growth-driving factors in the present time, they may seem mainstream. But imagine these ideas back in 2011, almost a decade ago. This much time it took, Byju Raveendran, the founder, and CEO of BYJU’s to turn his idea into a multi-billion-dollar company with a net worth of 10 billion. History is proof that a market flourishes when there is healthy competition. Because only then the company strives to offer the best quality of products and services to the customers. And that is the sign that is prompting you to develop your own online education mobile app.
You do not have to have the exact same business idea. You can build something around it and offer a whole new educational experience to your idea that will make your business model unique and attractive. It will also build your separate loyal customer base as well. And when you have such an idea, you will also get investors, as BYJU’s got theirs.
Some of BYJU’s investors are Chan-Zuckerberg Initiative (CZI), Sequoia Capital India, Sofina, Verlinvest, Tencent, Nasper Ventures, etc.
So, if you ready to set the course of your new business idea, shall we proceed?
Brief Introduction to BYJU’s & Market Demographics
BYJU’s was founded by Byju Raveendran in 2011. Initially, they focused only on Science and Math subjects but as time passes, they kept on increasing their teaching repertoire. Currently, they are offering m-education service for K-12 students with almost all subjects. Now they are offering online courses for competitive exams like IAS, CAT, JEE, NEET, etc. BYJU’s offers its service in the middle east as well and they are actively focusing on entering the western market as well. BYJU’s launched its mobile app, BYJU’s – The Learning App, in 2015.
BYJU’s became the world’s most valuable ed-tech company in 2019. The app has over 42 million active users with more than 3 million paid users, and they are increasing every day. Simply, it is an Editor’s Choice app in Google Play Store with more than 50 million installs and 4.5 app ratings.
This growth is the result that Harvard has a case study of BYJU’s.
Revenue Model of BYJU’s – How does BYJU’s Make Money?
The main revenue model of BYJU’s is Freemium. In other words, BYJU’s allow users and students to download their mobile app for free and access a small amount of their entire e-learning course for free. If users want to try the complete subscription experience, then BYJU’s offer a free 15 days of trial subscription as well. After that, the subscription amount is 10,000 INR for a year.
Hence, the major income of BYJU’s is from their paid subscribers.
But if you want to dig a little deeper into the revenue model then you can get some options like in-app advertisements and promotions for increasing revenue. In addition, an e-commerce portal can also be integrated into your e-learning app where you can sell merchandise and accessories related to education and courses like Books, Stationary, CDs of lectures, etc.
Global e-Learning Market Demographics
The global pandemic caused by the spread of COVID-19 has given a glimpse of the future of e-learning mobile apps and services. According to Forbes, the worth of the global e-learning market was $166 billion in 2014, and it is projected to grow as much as $325 billion by the year 2025. That is literally a ‘green’ sign to invest in the online learning business.
According to Statista, 81% of US college students have claimed that online learning is helping them improve their grades.
The online education is not limited to school and college students, it has also benefitted to corporates as well. For example, IBM saved around $200 million by switching to e-learning. In addition, an online learning platform called Lynda.com was acquired by LinkedIn in 2015 for $1.5 billion.
One can look at digital learning from any possible angle and she will find two things, A. Opportunities, B. Growth. Such is the time for investing in e-learning mobile app development.
Let’s assume that you are ready to start the development of your m-learning or e-learning app, what is the very first thing you need to think about? The very first step is to have a robust app idea. It could be similar to BYJU’s but it is always a good thing to take the original idea and improve it and then start the process of implementation.
So, once you have the idea, you need to take it to the right people who will take this idea, give is some finessing, and start turning into a reality, and who are these people?
Finding Right App Development Company for Your Next e-Learning App
Finding the right app development company is the most crucial part of the entire app development. It because you are trusting them with your idea, time, and money. That is not it, a right company will,
- Help you improve your app idea by minimizing risk factors and increase growth elements.
- Understand your long-term plan with your business and will develop the app accordingly.
- Understand your target audience in order to develop a personalized and effective e-learning app.
- Suggest the right stack of technologies for app development.
- Maintain seamless and comprehensive communication with you throughout the development process.
- Save your time and money.
Now you know what you need from a company, you need to start finding the right company for your e-learning mobile app development. There are two ways to do this, either you get references, or you start finding online. If you get references, then it’s a piece of good luck. But in case you don’t have any good references, you need to start looking for companies online.
For starters, there are a few organizations that examine the quality of work and communication of app development companies and rate them accordingly. Some of them are, Clutch and GoodFirms. On these websites, you can find top software development companies, their average project budgets, their customer feedback and reviews, and other essential details that will help you find the right company for you.
You can shortlist several companies, do some background checks and you will have the best company for your project.
But in the quest of finding the best app development company, you will probably stumble upon the idea of whether outsourcing your development task to a company or start building in-house. For that, I think I have an answer.
Outsource Company Vs In-House Team
Long story short, if your idea is new and you are just beginning your project, it is good to outsource to your e-learning app development project to a good company. Because
- It saves costs by saving the cost of infrastructure for the in-house team, operational cost, and other miscellaneous costs.
- A company has better infrastructure, tools, human power that can help in complex situations.
- A company will always deliver the best quality of work because it needs to maintain a good reputation in the market.
But now that your business is running smoothly and it is growing like anything. You might want to start building your own in-house team. Because
- An in-house team offers better control over your project.
- Better communication, transparency, and reporting.
- You can scale up and down the size of the team according to the need.
Since your e-learning app like BYJU’s is pretty new, you ought to consider outsourcing your project to an app development company. Because they have the e-learning mobile app developers who know their work very well.
Required Team Structure for e-Learning App Development
The right composition of team members makes a team ideal for any task. Therefore, it is essential to have the right members in your app development team to make your e-learning app development project a successful venture. A team fosters seamless communication, project involvement, systematic reporting, and more. Communication is a very important part because when ideas are well communicated, the execution becomes much more personalized. Hence, for such a team, you will be requiring,
- Business Analyst
- Project Manager
- Android Developers
- iOS Developers
- UX/UI and Graphic Designers
- Q&A Professionals
- Delivery Manager
Now let’s talk about what makes an e-learning app a must-have app for learners? The features!
Features of an e-Learning App like BYJU’s
Features and functionalities are almost everything that can make an app famous among its users. It is quite simple that people love to interact with an app and the more an app allows users to explore and interact the more they get involved in it. And this is the foundation of app development. Not to mention that this addition of features to your learning app must be done carefully because you don’t want to clutter your app with useless features. It is against a good reputation of your app. And believe me, users see everything. Hence, you need to be creative and careful with selecting the features for your app.
Officially, the BYJU’s learning app highlights its major features like,
A self-paced learning program that includes immersive and engaging video lectures that turns a boring learning session into a fun one.
According to the learning requirements of each student, personalized tests are provided after the completion of each chapter. It helps students in improving their understanding and grasp of the subject.
BYJU’s learning app is impressively smart. It tracks the learning journey of each student, the personalized tests, learning pattern, accomplishments, etc. to offer a detailed and comprehensive analysis of their progress and performance so that they can modify and improve their learning.
To help students to improve grades in exams, the app offers revision features for each module to improve the understanding of each concept and topic.
Quizzes are fun ways to test knowledge and learn while playing at the same time. These are great for competitive examination preparation.
These smart knowledge graphs offer students customized recommendations in order to learn and understand a concept better.
For each concept, there are three modes for practice, warm-up, run, and sprint. Based on a student’s level of understanding, this feature allows them to test their pace.
During the lockdown, for students of classes 4-12, BYJU’s teachers are conducting free live classes. These live online classes cover Science and Math subjects of CBSE and State Boards. These are some of the features that are making BYJU’s an outstanding e-learning app. Now is the time to dig a little bit deeper to know features according to the type of users.
e-Learning App – Student Panel Features
In order to start using the learning app, a user is required to register to the app with some personal details. The registration gives the user an ID and password to login to the app.
This feature allows registered users to log in to the app with their User ID or linked social media accounts. Once logged in, users can start using the app and its services.
In case a student forgets her password then this feature helps her to reset or generate a new password by using a registered phone number or email ID.
This feature offers students a dedicated space that allows students to explore classes and courses.
Profile manager helps students to manage personalized details that include:
- Profile Picture
- Mobile Number
- Payment Mode
- Subscribed Courses
Two sorting ways help students to find their preferred courses:
- By Name: Learners can type the name of the course to find the exact course they are looking for with some similar courses as well.
- By Category: Users need to select the category to browse through all the courses in it.
Quite an important feature that offers comprehensive information to the students about a particular course. The information may include:
- Description of Course
- Contents of Course
- Price of Course
- Option to Buy Course
This option simply allows users to purchase a preferred course via the selected payment mode.
Online and Offline Study
To offer great mobility, your e-learning mobile app can allow users to choose between online and offline learning modes. Online learning mode requires an active internet connection, whereas offline learning requires users to download content in the local storage of the device.
Live chat makes it easy for students to communicate with the tutor in a live class. There can be several payment modes in the app such as debit or credit card, Net Banking, e-Wallet, UPI, etc.
View Purchase History
This section of the app shows users their overall purchase history containing names of courses or items with price and purchase date. Also, the payment mode can be added to this information.
This feature enables users to take participate in a test related to the topic covered so far.
If a user wants to track the shipment of her order then this feature comes in handy.
E-learning App – Admin Panel Features
The admin works as the owner of the entire platform and manages every aspect of the e-learning mobile app. Hence, managing users also comes into the overall management. With this feature admin becomes able to perform the following task of users:
Rahul Mathur is the founder and managing director of ARKA Softwares, a company renowned for its outstanding mobile app development and web development solutions as well as specialized in Android and iOS app development. Delivering high-end modern solutions to all over the globe, Rahul takes pleasure in sharing his experiences and views on latest technological trends.