How to Market Higher Ed Belt Tightening
The number of high school graduates is flattening, the college-going rate is dropping, and the perception of the value of a college education is at a low point. Institutions are also facing the FAFSA simplification crisis and increased federal regulation that raises their reporting and monitoring burden. It’s no wonder that institutions are tightening their belts. Cutting costs and maximizing revenue are the order of the day, which can wreak havoc on both internal morale and external perceptions. The communications and marketing team’s work is critical as the institution’s first line of defense to keep confidence high and present your institution in a positive light.
Internally: Build Your Brand
In tight fiscal times, there is a temptation for people on your campus to adopt a mentality of scarcity. Departments circle the wagons and retreat into their own areas to protect their resources. Your team can help counteract this tendency by re-focusing the internal narrative on your campus’ identity and the unique ways that you serve students.
Highlight your influence on students. Show the ways your faculty and staff are adding value to students’ lives with stories of great student outcomes and your institution’s role in launching graduates to future success.
Focus on your history. If your college or university has been around for a long time, it has seen other challenging times. Position current challenges within the story of the institution’s core values, which have endured over time despite ups and downs.
Remember your societal impact. Help colleagues see the contributions they are making to the greater good, and remind them that, even in tight times, what they do is meaningful and appreciated.
Solicit ideas. Offer people a way to be part of the solution and encouragement that belt-tightening does not mean that every idea gets squashed. Utilize your team’s market research skills by assisting with focus groups to seek input on priority services and creating channels for your community to submit ideas for cost savings, revenue generating, or other innovations. This not only crowdsources new ideas, but it also can go a long way in making your community feel like they are part of the decision-making process—and that those decisions are made thoughtfully.
Externally: Project Positivity
We all know that change is inevitable, but also hard. When change is necessary and negatively impacts some parts of your community, keep the focus on your students. Make sure you are making the connections for your external audiences between the changes that you are making and student needs. Focus on themes like:
Responding to the evolving job market. It is only logical that these changes will impact the primary providers of preparation for future employees. Remind your external audiences that you are responsive to market changes to provide students with the best possible opportunities.
The importance of cost saving. Point out that your institution is being a good steward of its resources and of students’ tuition dollars, working to make a college education as affordable as possible for your students. Families understand the importance of budgeting.
The broader higher education context. It is becoming the norm for institutions to consider how they can make their operations more efficient, and there should be no shame in following this trend. The entire industry is experiencing scarcity, and not addressing this would be a bit tone-deaf.
No matter whether your communications are internal for employees or external for the community, always keep in mind how your students and their parents will perceive them. After all, belt-tightening is likely to have some effect on the student experience. Balance communication about areas where you might be exercising good stewardship with messages about what you are prioritizing and how that can also benefit students, perhaps using statistics to show the impact of redirected resources.
Easing the Pinch
While no one wants to see belt-tightening coming, there are always areas where institutions are not using their dollars as wisely as they should be. It is their responsibility to steward their resources for the good of the generations of students who will come after. As a marketing team, you can help your various audiences better understand the institution’s needs, priorities, and goals. With your help, the tight belt will pinch less.
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