Today’s prospective college students have one thing in mind when it comes to an education…
And that’s getting a good paying job right after graduation.
You see, in an era where the value of a college degree is increasingly scrutinized, the traditional focus on “sticker price” simply doesn’t resonate with prospective students and their families anymore.
Today, it’s no longer about how much college costs, it’s about what comes next.
See, prospects are now pivoting toward return on investment (ROI) as the primary value proposition. And this shift is redefining how higher education should be (and in many cases already is) marketing itself.
In a moment, Conversion Media Group will share an ROI based marketing strategy your institution, especially if you’re a primarily online institution, should consider implementing.
First…
Across the United States, rising college tuition and the potential for massive student debt have intensified conversations about whether a college education is “worth it.”
Of course, study after study has shown that earning a college degree pays off in the long run, but students no longer assess college choice primarily through the lens of price.
Instead, they consider shorter term outcomes and upfront costs compared to long term benefits.[1]
This evolving mindset is forcing institutions to rethink how they communicate value. With that in mind, effective enrollment initiatives should emphasize potential outcomes…
Job placement rates, earnings differentials, time-to-degree, employer alignment, and of course, your institutions career counseling abilities.
These metrics speak more directly to today’s prospective students’ financial and career expectations than the prestige of a degree itself.
Now…
Research shows, and you probably already know this, that the financial returns on different degree programs can vary dramatically.
For example, ROI analyses of college degrees reveal that certain majors pay off substantially over a graduate’s lifetime, with earnings often far exceeding initial investment costs.[2]
While other degrees simply don’t.
Of course, institutions that are transparent about this can quickly build trust with potential students. Students who increasingly use these types of figures to inform their choices.
See, even though your institution may offer dozens of degree types or more, you may want to emphasize potential outcomes of each one, even if that means lowered enrollments in one program or another… while leading to higher enrollments in other programs.
Educate your prospects, and they’ll listen.
Effective higher education marketing now hinges on the ability to gather, analyze, and showcase the right data. Data prospects “feel” they know.
Your school shouldn’t simply talk about the benefits of earning a college degree, you should talk about potential outcomes… potential jobs… potential salaries…
And how quickly a prospective student could be hired after graduation.
We know, it’s not as simple as that. And you can’t tell any student when they’ll get a job (or if they’ll get one) …
But you can talk about the demand and average salaries for jobs in certain fields. That’s what prospects want to know. ROI.
You see, prospective students are now demanding clear returns on their educational investment. And although you can’t give exact returns, you can make the value proposition much better by explaining potential outcomes.
Now, we mentioned earlier that we’d show you an ROI based marketing strategy your institution should consider implementing, especially if you’re a primarily online institution.
Here it is:
Partner with Conversion Media Group. We’re a national leader in higher education enrollment initiatives, concentrating not only on helping you meet or exceed enrollment goals…
But by doing so with your ROI in mind.
Give us a call at 1-800-419-3201 and we’ll explain our various lead generation efforts, as well as our live transfer lead programs.
The call will only take a few minutes, but we guarantee it will be worth it.
[1] https://accreditationxpert.com/college-roi-rethinking-value/
[2] Is College Worth it? | Return on Investment Analysis of College Degree