Transcript The Small College Advantage

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 Questions
From Students
Your College Must Answer
• Can you help me become significant?
– Investment benefits
• Can you help me belong?
– Consumption benefits
Consider Alternative
Income 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
82%
Public
25,000+
49%
Classrooms
61%
41%
Library
58%
45%
Facilities related to major
55%
58%
Open space or quads
46%
33%
Student center/union
43%
40%
Residential facilities
• 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 Aid
Where 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.”
THANK YOU
GDA Integrated Services
George Dehne
Christopher Small
www.gdais.com
[email protected]