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Recruiting Intelligence

New Revenue Sources: Your Success Depends on It

How does a university facing reduced enrollment find new sources of revenue? Let's get specific. 

There are a number of answers to this question. And they hinge a bit on how much time your institution has. Is this need for diversified sources urgent, as in, “Let’s get a new program out there this summer to increase fall enrollment”? Or do you have funds (endowment or reserves) to draw upon for the next year to weather the storm, allowing new revenue sources to be developed more slowly?

Either way, the response will require speed -- not a strong suit for academic institutions in general. And it requires a level of nimble creativity and well-coordinated collaboration. These are hard combinations to pull together. But mostly, it is the compressed length of time to bring a new idea to market that will likely be your biggest challenge.

With this post we are offering a range of ideas for new academic programs that you can offer to students across the country and around the world. For the most part, these are all programs that you can create from what you have on hand already. There’s a bit of repackaging and rebranding required. And an innovative delivery system. But it can all be done in the time you have available.

What’s the catch? Why haven’t you done this before? Well…

To succeed at this, you must have support from the those at the top and the ability to innovate. Easier said than done. But now your success depends on just that — getting it done. 

Want to find a way to fill the looming holes in your revenue streams? Our recommendations and tips follow.

This is not for the feint of heart. Buckle up and read on.

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Motivations of the Highly Motivated: Marketing to International Graduate Students

Did you know that in the United States, first time graduate enrollment grew by 3.5% between fall 2013 and fall 2014? The Council of Graduate Schools’ (CGS) report Graduate Enrollment and Degrees: 2004 to 2014 provides tons of information on graduate study trends. According to the report, “from 2004 to 2014, international students accounted for over two-thirds of the growth in first-time enrollment headcounts at U.S. graduate institutions.” And that first time enrollment figure is 11.2%. So lots of new international students and the vast majority of them at the grad level. Good news for international recruiters, right? We think so!  

Bottom Line: Graduate students are an important segment of international students to target with your digital marketing and their needs are different than their younger counterparts. Their motivations to study, the programs of interest and the influences for them to choose one program over another all vary. Mostly, they want to know they will get a job with a degree from your program. Similar to undergrad motivations but perhaps iwth a finer point on it.

Importantly, even if your institution is lesser known, you can still market the strengths of a top-tier program to these highly motivated students. They pay attention to that kind of thing within their area of interest. If your marketing efforts to international graduate students are limited in time and budget (whose aren't?), you would do well to focus on these two things: your career outcomes and your highly acclaimed departments and professors. Make sure you are capturing your target audience's attention with messaging they’ll react to.

NAFSA is right around the corner! We will be co-presenting new research with FPPEDUMedia on how current global, economic and political events are impacting students’ plans to study abroad. So, while you are building your schedule for the conference, pencil us in for Wednesday, June 1 at 10AM and schedule a time to chat with us! Actually, use a pen, you really won’t want to miss this one. Trust us!

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