The onslaught of the COVID-19 pandemic is affecting K-12 businesses and their bottom lines, as they pivot to serve districts in unanticipated ways.
EdWeek Market Brief recently compiled results of two exclusive industry surveys of more than 1,700 education company officials on what their businesses are experiencing during the coronavirus, and what they think is coming next.
This benchmark special report, for enterprise members only, is based on a survey of a broad cross-section of education company officials, including CEOs, other executives in the C-suite, company vice-presidents, and directors or managers in key departments.
Their companies are selling an array of products and services, including supplemental and core curriculum, assessment, professional development, blended/online learning, social-emotional learning, special education, learning management and student information systems, and devices and infrastructure.
Among the findings from the research:
- More than 40 percent of companies surveyed have experienced a slowing of sales during COVID-19.
- One-third have seen a decline in their ability to pilot products.
- Sixty-five percent of companies that have offered free products during COVID-19 have tried to convert districts to paid—with mixed success.
- Many education providers are still pushing ahead with investments in core business operations—such as sales, marketing, product development, and market research.
Other topics covered in the Market Brief research:
- How the coronavirus has affected companies’ current sales, near-term revenue expectations, spending plans, and staffing across a variety of departments;
- What pricing strategies companies have chosen, and how long they will be running those strategies;
- Companies’ timelines and success for converting district buyers from free materials during COVID to paid offerings;
- The biggest barriers vendors have faced in connecting with districts—and how they’re breaking through; and
- What role federal programs like the Paycheck Protection Program, or PPP, have played for education businesses.
Market Brief enterprise members will be able to explore the full results in the special report, COVID-19’s Impact on the K-12 Industry, in a full data deck. Non-members can learn how to access that report here.
A July 31 webinar, Exclusive Survey Briefing: The State of K-12 Education Business During COVID-19, synthesized the findings in this report and has been archived. It can be purchased by non-members here, and is available for free to enterprise members.