Michael McPherson, Partner & Creative Director at COREY recently spoke at the FutureM conference that ran October 23-26. This presentation is from COREY's panel discussion titled, "Who Needs School Anyway?"
WHO NEEDS SCHOOL ANYWAY?“At least a third of students gain no measurable skills during their four years in college. For the remainder who do, the gains are usually minimal.” – Richard Arum and Josipa Roksa, Academically Adrift
WHO NEEDS SCHOOL ANYWAY?“Mythomania about college has turned getting a degree into an American neurosis. It’s sending parents to the poorhouse and saddling students with a backpack full of debt that doesn’t even guarantee a good job in the end.” – Newsweek
WHO NEEDS SCHOOL ANYWAY?The New York Times, September 8, 2012
WHO NEEDS SCHOOL ANYWAY?Value Proposition =Features +Benefits
WHO NEEDS SCHOOL ANYWAY?Value Proposition =What do you offer? +Why should I care?
WHO NEEDS SCHOOL ANYWAY?Functional Benefits =What does it do for me?
WHO NEEDS SCHOOL ANYWAY?Emotional Benefits =How does it make me feel?
WHO NEEDS SCHOOL ANYWAY?Self-expressive Benefits =What does it say about me?
WHO NEEDS SCHOOL ANYWAY?What are the functional benefitsof a college education?Basically, all the stuff you canget for free online.
WHO NEEDS SCHOOL ANYWAY?Positioning Statements:iTunes U = Learn anything, anywhere, anytime.Coursera = Higher education that overcomes theboundaries of geography, time and money!Udacity = At Udacity, we put you, the student, at thecenter of the universe.edX = The Future of Online Education for anyone,anywhere, anytimeMinerva = dedicated to providing a uniquely rigorousand challenging education to the brightest studentsin the world
WHO NEEDS SCHOOL ANYWAY?Functional BenefitsTraditional Onlinecollege credits certificatesfaculty of the college world–class teacherscollege campus wherever there’s wififellow students social networkalumni network peer networkcareer services office LinkedInvery expensive free (or mostly so)doesn’t scale well scales for some courses
WHO NEEDS SCHOOL ANYWAY?Emotional BenefitsTraditional Onlinepeer community discussion forumleadership opportunities not so muchphysical activities not so muchsocial bonding social networking“nourishing mother” my actual motherfun ?
WHO NEEDS SCHOOL ANYWAY?Self-expressive BenefitsTraditional Onlinepride as alum pride as self-motivated learner“college-educated” gained competence in X at Prestigious U.I invested in educ. I’m a smart shopper
WHO NEEDS SCHOOL ANYWAY? Degree vs.Market Noise CertificateOnline vs. Prestigious vs.Off-line/Hybrid Mass Market Repackaging vs. CreatingPaid vs. Non-profit vs.Free For-profit
WHO NEEDS SCHOOL ANYWAY?What we’re seeing from a brand perspective:•Traditional colleges and universities areunder pressure to offer online courses toreduce costs and improve outcomes – withoutdamaging their brand. • Create a separate online-only brand that houses online courses from top universities. • Use the online-only brand as a platform for partnerships with other universities.
WHO NEEDS SCHOOL ANYWAY?What we’re seeing from a brand perspective:•Some of these platforms are venture-fundedfor-profit spinoffs from universities (both fromStanford). • Coursera offers courses from top universities and gets brand lift from it’s content. • Udacity is trying to build their brand from the ground up.
WHO NEEDS SCHOOL ANYWAY?What we’re seeing from a brand perspective:•There will only be room for a few superbrands in a global online educationmarketplace. • Joining an existing platform, such as edX or Coursera or iTunes U will be much more effective than trying to market online offerings as an institution.
WHO NEEDS SCHOOL ANYWAY?What we’re seeing from a brand perspective:•The model for online education at the highend is still evolving. • Are universities cannibalizing their offering by giving it away online? Or are they building a larger audience by growing global awareness? Or are they “doing the right thing” by sharing their content. • Some for-profit online education is being funded by VCs and corporations as a way to identify talent worldwide. • “Certificates of Accomplishment” are gaining traction on resumes.
WHO NEEDS SCHOOL ANYWAY?What we’re seeing from a brand perspective:•We predict that individual star faculty will alsodevelop and need to manage their brands astheir revenue potential grows with a globalaudience.
WHO NEEDS SCHOOL ANYWAY?“What students find at a university is mainly each other – a culture of learning.”– Brian Harvey, University of California-Berkeley