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Rethinking Marketing Strategies in Higher Education
In the rapidly changing landscape of higher education, institutions are increasingly facing the "sea of sameness" where every university promotes similar attributes—exceptional research, picturesque campuses, and successful alumni outcomes. To combat this notion, Fordham University in New York City is pioneering an innovative approach by embracing experiential marketing. In a recent discussion, Justin Bell, Fordham's Vice President of Marketing and Communications, emphasized the necessity for distinctiveness in their branding strategy to attract prospective students and improve overall yield.
Experiential Marketing: A New Approach to Student Engagement
Bell's team invested over six months researching their audience's needs, interviewing around 8,000 individuals from varied backgrounds to develop a cohesive brand identity. The introduction of their slogan, "For What Matters," signals a departure from traditional higher education marketing to something more engaging and interactive. Fordham aims to resonate with the 20 distinct personas it serves—from prospective students and their parents to alumni and industry partners, ensuring that each audience can identify with the Fordham brand on some level.
Facing the Demographic Cliff: Strategies for Enrollment Success
One of the primary challenges universities face today is the demographic cliff—an alarming decline in high-school graduates in the U.S. This reduction means that universities must intensify their efforts to attract high-caliber students amidst rising competition. Bell noted that Fordham currently receives 50,000 applications annually but struggles with a yield of just around 10%. With competing institutions like Columbia and NYU drawing a similar audience, Fordham's initiative to engage through unique experiences becomes critical.
Leveraging Experiential Events for Brand Awareness
Fordham's first significant experiential marketing effort was the "Fordham Pizza Shop" pop-up at the NACAC conference in Columbus, Ohio, where guidance counselors experienced a slice of New York culture. This innovative marketing tactic probably drew a line around the block, creating a buzz that traditional sponsorships couldn't match. As Bell explained, the pop-up wasn't just about visibility; it was an opportunity to create lasting impressions that could influence students' college decisions.
Measuring Impact: The Long Game in Education Marketing
Marketing in higher education isn't an instant gratification arena. It takes long-term strategies to build connections and influence decisions at various stages of a student's journey. By effectively using follow-up email campaigns and promotional materials like Fordham pennants, the institution is tracing impacts from these interactions to eventual applications and enrollments. While immediate results may be inconclusive, Bell assures that measuring such engagement is key for long-term recruitment success.
Innovation in Budgeting: The Investment in Branding
Understanding the need for holistic growth, Fordham has recalibrated its marketing budget, increasing spending by 15%, now at approximately 1.5% of its revenue—still below the average for higher education. Bell's vision involved reconstructing the previously fragmented communication strategies into a unified force, aiming to galvanize support for the university’s brand and improve competitive positioning.
Conclusion: A New Era for Higher Education Marketing
For universities like Fordham, creating a unique marketing identity is no longer optional; it’s critical for survival. As they harness the power of experiential marketing, institutions must continuously adapt and innovate to attract the right students and build lasting relationships in an increasingly competitive landscape. Business owners seeking invaluable insights into growing their brand's visibility and customer acquisition strategies should consider similar experiential approaches and evaluate their marketing strategies accordingly.
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