The higher education industry is going through a disruptive change process. New technologies, increasing internationalization, stagnating enrolment, changing student demographics and growing expectations pertaining to transparency and outcomes lead to an increasing competition, product innovations, new forms of delivery (MOOC, flipped classrooms, blended learning), and a strong pressure on tuition fees and costs.
Institutions of higher education dedicate far more attention and increasing budgets to marketing and sales to manage this change process. Recruitment is shifting from traditional sales channels towards online and digital strategies, what leads to an increasing pressure on sales channel integration. The application of marketing automation tools allows the implementation of cost-efficient and tailor-made communication strategies with all stakeholders along the customer lifecycle and across the different integrated channels to increase conversion and retention rates.
Today, institutions of higher education might choose between many different marketing and sales channels like institutional websites, social media profiles, student recruitment fairs, or recruitment agents. Thus, the ability to select the right sales channels to reach the strategic sales objectives and to manage them efficiently becomes increasingly important. This includes the integration of different sales channels, the analysis of conversion and retention rates as well as channel profitability.
Many institutions of higher education are also looking for new sales channels. Among them are independent contractors like recruitment agents, alumni ambassadors, or cooperation agreements with local institutions (schools and firms). Others are trying to keep students, alumni, and their families involved including the invitation to sponsoring events, donor engagements, or continuing education benefits.
The higher education industry is an excellent case study how new technologies challenge traditional business models. Institutions of higher education must change their business models as long as they generate enough cash flow from their traditional activities. This is a race against time, in which minor mistakes might threaten the proper existence.
Experienced specialists with powerful tools might facilitate this change process. One example is C2NMs’ market development process company2newmarket®. In four steps, institutions of higher education will learn how to evaluate and select new and existing markets, identify and manage the most efficient sales and marketing channels, integrate new technologies successfully, and implement a profitable and sustainable growth strategy.
If you want to learn more about our winning methodology, please contact us now.
C2NM is a leading consulting, training, publication, and IT development firm specializing in the field of international and intercultural management. C2NM offers tailor-made intercultural seminars, training, and coaching to communicate more efficiently in intercultural situations. C2NM supports your organization to acquire NEW customers in NEW foreign markets in LESS time, with FEWER resources, and at LOWER risk. Let internationalization become your competitive advantage. We will succeed with you.
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