From 2018 to May 2020, it is the capital winter, but in the field of vocational education, the financing amount from March to May has increased month by month. In April, it increased by 29 times. In May, it increased again by 73% on this basis. In the past two months, the vocational education track has also frequently received financing. So, can the “new vocational education” under the digital background continue to ride the wind and waves? A few days ago, Tencent Marketing Insights, together with Blackboard Insights and Pulse Data Research Institute, launched “Everything in the World, Ready to Go-Insights on the New Vocational Education Industry in the Digital Era”, which comprehensively sorts out the four major opportunities in the industry, understands the market demand layout, and reveals the brand selection steps. Spy on the dimensions of choice and focus, and together describe the new vocational education demand map, decision-making path, and brand selection determinants.
Blackboard insights · Insights into the education industry trends, and discover the value of the training industry (WeChat public account ID: heibandongcha)
There are 8.74 million college graduates in 2020, a year-on-year increase of 400,000. The employment situation is expected to be more severe this year. Fierce job competition and the continuous increase in the number of college graduates have created huge market demand for the vocational education and training industry. In addition, affected by the new crown epidemic, in addition to fresh graduates, many employed people have also given birth to the idea of career transformation and further development. A few days ago, Tencent Marketing Insights (TMI), in collaboration with Blackboard Insight and Pulse Data Research Institute, launched “Everything in the World, Ready to Go-Insights on the New Vocational Education Industry in the Digital Era”, which comprehensively sorts out the four major opportunities in the industry, understands the market demand layout, and reveals the brand. Selecting steps, prying into the dimensions of choice, and drawing together the new vocational education demand map, decision-making path, and brand selection determinants.
01 “New Vocational Education” in the Digital Age
According to the traditional definition, vocational education refers to the education that allows the educated to obtain the vocational knowledge, skills and professional ethics required for a certain occupation or productive labor, including vocational school education and vocational training. However, in the context of the digital age, on the one hand, due to the continuous iteration of the industry structure, business model, and business logic and models, the blurring of job boundaries has increased the demand for compound talents. On the other hand, vocational education has shown a trend of professional interest. At the moment when the pace of life is getting faster and faster, people are beginning to tend to relieve pressure through hobby vocational training and provide new ideas for work. Different from the definition of traditional vocational education, new vocational education should be a larger, broader and macro-level vocational education, including adult/minor vocational skills education, adult academic education, adult hobby education, etc.
02 The “golden age” of new vocational education amidst all the surroundings
Although 2018 to May 2020 is the capital winter, in the field of vocational education, the amount of financing from March to May has been rising month by month, and the increase was as high as 29 times in April, and it increased again in May 73 %. In the past two months, the vocational education track has also frequently received financing. In addition, the Ministry of Education has issued relevant enrollment expansion policies many times, and vocational education seems to be gaining momentum.
① The structural imbalance of the labor market creates new demands for vocational education
From the perspective of the supply side, the current domestic demographic dividend has disappeared, the problem of population aging has become prominent, and there is a potential shortage of labor. From the demand side, as the demand for talents in emerging industries such as artificial intelligence, Internet of Things, big data, and cloud computing continues to increase, the vocational qualification certificate/skill threshold for enterprise recruitment has also increased accordingly. High-end compound labor is in short supply, and the labor market Entered into a period of structural adjustment, further promoting the development of new vocational education.
②The shrinking of education in academic vocational schools, the vocational training market ushered in a positive trend
In the past few years, limited by the expansion of higher education and the quality of their own education, the number of enrollment in academic vocational schools has declined, especially in secondary vocational schools, which has exacerbated the high-tech labor gap and the scale of structural unemployment. In addition, the current industry concentration of vocational school education is low, and there is a lot of room for integration in the future.
On the other hand, the market for non-academic vocational education has huge potential, and the subdivision track is rich and diverse, with strong and predictable demand. Statistics related to the “New Vocational Education Industry Insights in the Digital Era” launched by Tencent Marketing Insights (TMI) in conjunction with Blackboard Insights and Pulse Data Research Institute show that the new needs of existing users are obvious, and the willingness of Toko is strong; high potential, low potential Evenly divided, the new vocational education market has great potential, and consumers expect that there will be an emergency in the future.
③”Policy+ Capital” to boost vocational education against the trend in the cold winter
Policies and capital have always been a booster for the development of the industry. Since 2018, the state has issued a series of policies favorable to the development of vocational education, reaching an unprecedented policy height, pushing the vocational education industry into the fast lane of development and entering the policy The golden period of encouragement. Policy support combined with strong demand has also attracted the attention of capital. In a cautious financing environment, there were still 140 investment and financing incidents in the vocational education and training market from 2018 to May 2020, and the injection of capital further stimulated vocational education The development of the industry.
03 The situation is changing, how can the new vocational education ride the wind and waves?
①Mind occupation, a “shortcut” to enter users’ hearts
Simply put, mental occupation is to strengthen consumers’ cognitive recognition of a product or service, grasp the consumer’s mental laws, and promote them to be converted into purchase motivation. Related survey results show that the key to speeding up the decision-making of high-potential users lies in the formation of brand minds. New vocational education brands choose to occupy a huge room for improvement, especially non-work-related talent, sports, and life circuits. The proportion of users with preferred brands is half of other circuits, and the proportion of users without brand preference is other circuits. Doubled.
More than half of the users present the “initial screening” behavior with unoccupied minds. 33% of users will first conduct brand screening within the category, narrow the scope of brand selection, and then focus on understanding these brands, and finally Compare the final selection in the brand. The “Insights into the New Vocational Education Industry in the Digital Era” report divides it into six decision-making paths.The same user brand choice path also differs.
Note: Path definition
Targeted comparison: There are several target organizations, which use brand search or acquaintances to learn more Way to get information;
Brand contact: There are several target organizations, and they will use WeChat official accounts or consultations in a targeted manner Obtain information through official website customer service, etc.;
Preliminary screening of scope: No target organization, broadly use category search or acquaintances to obtain information ;
Waiting for the time to place an order: After selecting the target brand, follow the official account or official website and wait for the appropriate promotion Only place an order for the event.
Among them, the computer track has the highest proportion of preliminary screening, the life track has more single paths and fewer decision-making steps, and it is more difficult for non-work-related track brands to successfully occupy the mind. In other words, the decision-making path of life, sports, and talent is relatively simple, the brand has fewer opportunities to contact users, and the number of brand education is less. It is more difficult for brands to successfully occupy users’ minds, and vocational qualification training is just in demand. The willingness to pay is stronger and the business scale potential is greater.
②The role of social platforms may be underestimated
The learning effect in the education industry is difficult to quantify, and the customer conversion cycle is long. Consumers generally take a long time to decide whether to sign up. Therefore, through the social circle based on acquaintances, they can gain a good reputation and form a word of mouth marketing place. Completing fission is important for the growth of education and training institutionssignificance.
Relevant data from Tencent Marketing Insights (TMI) show that brand reputation is one of the three most important decision-making factors for consumers. Social platforms play a decisive role in most tracks. Talent, sports, and life training are relatively more popular. Circle influence further highlights social advantages. In addition, the life, repair, and language track have a strong herd mentality, which is suitable for circle marketing and brand awareness building to help word of mouth. Based on Tencent’s marketing big data to identify the target audience of each track, they are basically sensitive to promotions, especially professional qualifications and sports tracks. Like the talent track, they are keen to recommend. Consider relying on the advantage of social fission.
Conclusion
Vocational education is closely related to economic and social development. Under the background of the new era of digitalization and informatization, the continuous operation of the capital market and the iterative dividend of national policies have further catalyzed the development of new vocational education. The new vocational education track is in full bloom with huge market potential. However, the new vocational education is still facing huge challenges. More than half of the user groups show unoccupied “initial screening” behavior. Education brands urgently need to combine the characteristics of the decision-making path of different tracks, identify the key operations of the platform, and use social platforms and brands. Advertising establishes brand mental advantages on a large scale, accelerates the decision-making of user groups, and seizes new opportunities.