Education budgets: how academic institutions should plan for growth
The most pressing concerns for educational institutions today include cuts in education budgets, insufficient funding, appealing to a wider range of prospective students, developing a strong brand and getting heard in a crowded marketplace. In fact, in today’s marketplace where the competition from other institutions is so intense, schools, colleges and universities are under greater pressure than ever before.
As demographic trends shift across the nation, colleges and universities are honing their efforts to reach prospective students through market segmentation, broader geographic reach, and more. Understanding the needs and preferences of your audience is important, since relevant communications will be different for different segments of your constituents. Using data to drive decisions instead of gut instincts will help you develop more targeted communications.
Get to know your market—and love data
That data is extremely valuable because one thing you know about your customer is worth ten things you may know about marketing. This data—if not readily available—can be gathered through dynamic newsletters, surveys and measuring targetted marketing messages.
Today’s education marketers need to be able to write, create, deliver, and track personalised email marketing messages and communicate more effectively with prospective students, alumni, and current students.
Sometimes for an academic institution this ‘commercialisation’ of their product may seem an anathema. Get the balance right however, and it can be a vital ingredient in the continuing success of any school, college or university.