Universities must market themselves like any other business or service. It might sound a bit strange, but higher education is an industry that attracts new customers by showing the benefits of earning a degree. Every university does it and will continue to do so. 

Positive learner perceptions are now a priority for colleges everywhere. Students need to have a good cause to remain in education and go on to university. It is necessary to show students the benefits of having a degree despite expensive fees. So, how can you rate a university proposition value with simple strategies?

An Effective Marketing Funnel

The funnel effect is there to attract potential customers to the university and turn them into students. Universities search for interested students, who put in an application to the school. Progress can be measured by creating conversions between the number of applicants and those accepted into the school.

The Retention Rate of Students

School is a struggle for most students, even when they excel. Sometimes, higher education just doesn’t work for a student; that doesn’t mean they can’t return to education later. Getting accepted into a university is tougher than staying in school. You can find the value proposition of a school just by looking at its freshman-to-sophomore retention rate. 

Some schools have higher retention rates which means students are choosing to remain in education. When a school has lower rates, it’s necessary to explore why students drop out before their sophomore year. 

Often, freshman students believe their first-year courses don’t offer them something of value and move on to another school. Some will drop out of higher education entirely. Of course, some students have financial or family issues and have no choice but to drop out. 

The ROI

Students want an ROI – Return on their Investment – especially since costs continue to increase. Students want value for money and want to know they stand a better chance of getting a job with higher pay. 

You need to compare the cost of tuition against median earning power to understand the ROI. University graduates don’t want to be in a worse position after their education; they need strong prospects for the investment to be worth it. 

Look at the Data

The data is where you’ll find the value proposition. Universities have lots of data and it can be used to analyze their marketing strategies and their current success rates. Of course, learner and community perception are not always supported by the facts.

Being able to accommodate and meet the need of the student helps to determine schools with the best value proposition. Sometimes, that comes in the form of financial aid or a bespoke degree plan.

The Ultimate Prize

Students, however, want a degree that boosts their education and comes from a respected institute. Every degree holds a personal value to the individual and it needs to be accessible to them, regardless of their physical or financial abilities. 

Universities should encourage students to reach their goals and creating the right value proposition helps.