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What, Me Worry?: Keys to Taking Advantage Of These Uncertain Times (Through a Marketing Prism) George Dehne Christopher Small
What, Me Worry?:
Keys to Taking Advantage
Of These Uncertain Times(Through a Marketing Prism)
George Dehne
Christopher Small
GDA Integrated Services
www.gdais.com
Carpe Diem• In our experience, major change in colleges
only happens under duress • In good times, people are less apt to try new
things• In bad times, they have to start to do things
better • So strike while the iron is hot• Get trustees signed on first• Turn to your “best” faculty members for
support
Rethink Strategic Plan• Most college strategic plans are neither
strategic nor plans
• Make sure there is little light between your college’s strategic plan and your college’s marketing plan.
• Do an Environmental Scan
• Do a competitor analysis – majors, long range plans, financials
• Rethink your enrollment targets – down or up
The Two QuestionsFrom Students
Your College Must Answer
• Can you help me become significant?– Investment benefits
• Can you help me belong?– Consumption benefits
Consider AlternativeIncome Sources
• Summer conferences – high school age
• Energy – solar, wind power, recycle
• Dual Enrollments
• Online programs
Communicate
Most important thing colleges can do to weather an economic downturn is to keep talking to their…
•Current students
•Alumni
•Employees
…while reaching out to prospective students
Leadership in this Crisis
Focus On Product And Services [Expenditures] In Cost-cutting Process, Not Just Overhead Cost.
•Do you need all those majors?
•Are you cutting your student recruitment budget, just to be fair?
•How much does your General Education program cost you?
Leadership in this Crisis
• Be Vigilant To Protect Growth Initiatives
• Don’t slash an interdisciplinary major with promise
• Feed a growing program, don’t starve it
Leadership in this Crisis
Exploit Risk Opportunities: Embrace, Don’t Eradicate, "The Right" Risk Exposures
•The “right” risk can turn enrollment around
•GDAIS “Big Idea” program has risks
•Market research is less expensive than being wrong
Leadership in this Crisis
Make Critical “Talent” Plays
• Keep best recruiters
• Reward financial aid director
• Hire faculty with private college backgrounds
Don’t Sacrifice Your Facilities
Most Important Facilities During Visit
Private liberal arts
Public25,000+
Residential facilities 82% 49%
Classrooms 61% 41%
Library 58% 45%
Facilities related to major 55% 58%
Open space or quads 46% 33%
Student center/union 43% 40%
• Did you rule out a college or university because a facility that you viewed as important was inadequate?
– 25% Yes
– 75% No
• 47% Strongly agree or agree: When I first saw the campus, I knew this was the right college for me
Outsource
• Nurture your in-house core competencies
• Carefully offload other functions to vendors
• Outsourcing can often reduce near-terms costs
• Vendors can create lower, variable costs
• More variable costs give your institution more freedom to respond to shifting economic conditions
The Nitti Gritty
• Marketing Issues
• Recruitment Issues
• Financial Aid Issues
Don’t Reduce Marketing or Admissions Budgets
• Make sure it is used wisely
• Measure Everything
• It’s no time for more of the same
– Integrated Communication
– Advertising
– Recruitment travel
– Outsourcing
Integrated Communications
• Probably not a good time to re-do your website
– Spruce up the home page
– Do single message mini-sites
• Can you get another year or two out of your print publications?
– Develop an arsenal
The Need to be Known
• Brand wariness. Presumed safer to choose well known institution.
• Prestige. Seven of ten students and parents define “prestige” as nationally known or well-known in region.
• Direct mail. Eight of ten college-bound students say they are far more likely to open mail from an institution of which they had heard.
• Self-initiated inquirers. They are seven times more likely to apply and ten times more likely to enroll than other contacts.
Impact of Advertising, if any
• Fewer than 1% of the college-bound students inquired because of newspaper, television, radio, billboard or magazine ad
• About 75% of the students first learned of their enrolling college through sources the college could not control
• Public relations is more credible than advertising to parents and students
Guaranteed Visibility
• Word-of-Mouth Marketing
• Educational Materials as Promotion
• Be Known for Something
• Position the College with Other High Profile Organizations
• Target Cities
• Op-eds and Advertorials
Student Recruitment
• Less focus on mail
• More focus on people
• Work smarter
• More accountability
• Make the case for value
Work From CAMPUS• Use Prospect Management to build first
choice applicants
– Start early– Focus on those who are interested– Customization– Use Telephone– Make the campus visit an event– Virtual interviews– Involve the whole campus– Outsource to increase flexibility
Financial AidWhere the action probably will be!
Uncertainty rules the day
– Availability and cost of private loans
– Home equity lines of credit
– Emaciated 529s
– Outside scholarships decline
– People feeling less flush
Warm “Fuzzies” Are Important
• Make sure Financial Aid Office is up to the task
• Work on customer relations skills
– Answer the phone – Respond to messages– Talk to anyone who asks – Be flexible and offer to work with people– Don’t get hung up on old rules– Manage fear
What else can you do?
• Freeze or reduce tuition ???
• Make need a bigger part of your award matrix
• Aggressively pursue FAFSA
• Do not try to buy the highest quality
– Use money on the middle of the pool– Use fellowships – not just scholarships
• Increase work-study program
– Increase pay rate– Develop a work-study career path
Then What?
• Check to see how you are doing
• Develop stronger aid programs for transfers
• Don’t try to save money on current students
• Have a system to catch the unhappy campers
• When all else fails call a consultant!!
• Faith Popcorn, chief executive of
marketing firm BrainReserve, says “people
are looking for warm, cozy places to curl
up in” in the current economic climate.
“We are in a period of shock right now,
and we are looking for respite and revival
and restoration.”
