SlideShare a Scribd company logo
1 of 4
I Can’t Afford Marketing Right Now



        As the stock market continues its uncertain course, colleges and universities are looking
for ways to reduce expenses. Any “non-essential” spending will quickly be seen as a candidate
for budget reductions. So in this environment, why would you consider redeploying your
resources to increase your marketing focus? In this market, you can’t afford not to.

        Frequently maligned, marketing has taken a back seat to other mission critical functions
like development or admissions in most colleges and universities. At its worst, marketing is
delegated to a creator of brochures, emails and cookie cutter websites; at its best, it is seen as
communication crisis management. But the value of a truly integrated strategic marketing plan
to a college or university can be translated in increased revenue and expense reduction.
Utilizing advanced marketing techniques to sell the university will be crucial as the number of
high school graduates start to plateau and acceptance ratios plummet due to student’s ability
to pay for the college of their choice. In addition, competition for students is increasing and
state universities are very competitive in the search for top students. The trick for savvy
marketers is to make sure you obtain the appropriate return on your marketing dollars spent.
There are eight goals for marketing in any organization. The depth to which marketing is
utilized depends on whether you are looking to remain tactical, engage in product marketing
(promoting a department or course) or become truly integrated by including a strategic
marketing component.



    Eight Goals of Marketing
                                   Database Marketing



              Understand the
                                    Integrate Learnings    Track Effectiveness
            Market & Competition




Strategic                                                   Generate Leads
                                   Effective Marketing                           Tactical
Marketing   Segment the Market                             (students, donors,
                                       Organization            alumni etc.)      Marketing




                  Build the
                                    Design Products to     Communicate with
               Organization’s
                                    Support the Strategy      the Market
              Strategy & Brand



                                           Product
                                          Marketing
If you fully engage your marketing department and utilize all eight goals, there are several key
areas to ensure success:

Research
This is a key competency utilized throughout a university yet an integrated market research
plan is seldom created to maximize this expenditure and ensure that the strategic questions
and markets are being addressed. To ensure that the strategic plan is on target, it is crucial to
understand the key markets and how the competition (other providers of knowledge) is
addressing those needs.

Brand & Sub-brand development and standardization
One of the most expensive activities for a college or university is to develop their brand and
inculcate that brand into the hearts and minds of their administration, faculty, student body
and alumni. Brand is the collection of experiences, symbols and feelings that the audience has
when thinking about your college. Frequently, universities undermine their brands by allowing
sub-brands to proliferate. This does not mean that that promoting a college’s specialties is less
important. A good brand strategy should be able to expand beyond the core values of the
university to embrace sub-brands that reinforce the core values. Standardization of your brand
allows your branding dollars to work harder for you as well as reduces the expense of
promoting multiple brands.

Market Identification and Segmentation
There are at least nine market segments that are important in higher education including:
undergraduates, graduate students, alumni, donors, local companies, business leaders, parents,
college counselors and faculty. The typical college communicates to these markets with a
product push instead of addressing their needs. In addition, tactics successfully utilized in one
market are not utilized in the other markets.

Marketing Tactic Optimization
Not all markets are created equal and therefore your marketing dollars should not be spent
equally. Even within a market, not all targets are created equally. By optimizing marketing
tactics – using your most expensive tactics for those individuals with the highest potential for
acceptance is critical to double digit returns on your marketing dollar.

Campaign analysis, Data Management and Modeling (contact management)
The data analysis and management separates “nice-to have” marketing from “mission critical”
marketing. All marketing outreach, including branding and public relations have a tangible
value to your organization and as a result, can and should be tracked. New marketing tactics
must be tested against your existing tactics. Can a slight modification improve your response
rate? A test and learn environment in your marketing department can develop a culture of
constant improvement. Data models can be created to identify those students most likely to
accept your offer as well as those alumni mostly likely to donate. Response models will ensure
that you continue to improve your success ratios.

Communications & Thought Leadership
Beyond crisis communications, grant and book announcements, an integrated public relations
plan allows you to reinforce your brand, build your institution as a thought leader and manage
your press coverage so your competitor is minimized. To build a plan, each key department in a
university must be consulted to ensure your university receives favorable coverage throughout
the year. This helps build your reputation so that when something negative does arise, your
connections can work for you.

Resource Consolidation
As important as obtaining a return on your marketing investment is making sure that use your
collective buying power to obtain all the discounts possible. Consolidating resources and
vendors is key to getting the most out of your marketing expenditure. Key areas to consider
are: media buying, production, creative services, research. If you purchase these services
through multiple departments are you utilizing your buying power?

If you decide to implement a fully integrated marketing organization, the final decision is to
determine if you are looking for a centralized or decentralized organizational structure. Both
structures have their pro’s and con’s.


  Pro’s
                Centralized                                       Decentralized
 Easier to create economies of scale          Can be more responsive to a changing environment
 Better budget control and accountability     Less competition for budget dollars
 Easier to build and maintain standards       Able to meet needs in a more customized fashion
 Facilitates strategic planning               Intimate knowledge of product and audience
 Cost savings on equipment, software and      More control over resources
 training
 Greater career path opportunities            Better sense of alignment with the business


 Con’s
               Centralized                                       Decentralized
 Does not respond as quickly in a           More costly to operate
changing environment
 Less effective at tapping the creativity   More difficult to control creating problems of coordination
 and knowledge of lower level employees
 Can be perceived as dictatorial and        Competition for resources and budget
 threatening to departments
 Can become too theoretical because         Can lose creativity because you only see your own way
 they are not tied as closely to the
 business

There is also a hybrid approach which includes centralizing certain highly specialized or costly
functions like database management or market research while allowing for decentralized
execution.

 To ignore your marketing in a difficult economy ensures that you will miss an enormous
opportunity. Universities will be forced to cut these expenses because very little tangible value
can be associated with stand alone tactical marketing, but an integrated marketing approach
could allow you to stand out in the market. It will also set the stage for communication
excellence as competition of students and development dollars becomes more intense.



Byline: Suzanne Cuccurullo is a 20 year marketing veteran focusing on high performing
marketing teams and owner of Cuccurullo Consulting Services. She can be reached at
suzanne@cuccurullo.org .

More Related Content

What's hot

An introduction to IMC
An introduction to IMCAn introduction to IMC
An introduction to IMCERIC HEWSON
 
Chapter 2 (1)
Chapter 2 (1)Chapter 2 (1)
Chapter 2 (1)kamran
 
Example 2 - 2010-11 UCI Merage Exec Programs Marketing Plan_no budget
Example 2 - 2010-11 UCI Merage Exec Programs Marketing Plan_no budgetExample 2 - 2010-11 UCI Merage Exec Programs Marketing Plan_no budget
Example 2 - 2010-11 UCI Merage Exec Programs Marketing Plan_no budgetDebbie Moysychyn, MBA
 
The Strategic Marketing Process - How to Structure Your Marketing Activities ...
The Strategic Marketing Process - How to Structure Your Marketing Activities ...The Strategic Marketing Process - How to Structure Your Marketing Activities ...
The Strategic Marketing Process - How to Structure Your Marketing Activities ...Moderandi Inc.
 
Chapter 22 - Managing a Holistics Marketing Organizations
Chapter 22 - Managing a Holistics Marketing OrganizationsChapter 22 - Managing a Holistics Marketing Organizations
Chapter 22 - Managing a Holistics Marketing OrganizationsDr. Ankit Kesharwani
 
Strategic Marketing versus Tactical Marketing
Strategic Marketing versus Tactical MarketingStrategic Marketing versus Tactical Marketing
Strategic Marketing versus Tactical MarketingRodolfo Ybañez
 
Chapter 17 - Designing and Managing Integrated Marketing Communications
Chapter 17 - Designing and Managing Integrated Marketing CommunicationsChapter 17 - Designing and Managing Integrated Marketing Communications
Chapter 17 - Designing and Managing Integrated Marketing CommunicationsDr. Ankit Kesharwani
 
Harvard style term paper e-business start-up plan complete
Harvard style term paper   e-business start-up plan completeHarvard style term paper   e-business start-up plan complete
Harvard style term paper e-business start-up plan completeCustomEssayOrder
 
Module 5 integrated marketing communication strategy
Module 5 integrated marketing communication strategyModule 5 integrated marketing communication strategy
Module 5 integrated marketing communication strategyJeVaughn Ferguson
 
Belch 10e ch01_ppt
Belch 10e ch01_pptBelch 10e ch01_ppt
Belch 10e ch01_pptBabar Hayat
 
Creating and Capturing Customer Value
Creating and Capturing Customer ValueCreating and Capturing Customer Value
Creating and Capturing Customer Valuearshilajaan
 
Chapte2 strategic marketing management
Chapte2 strategic marketing managementChapte2 strategic marketing management
Chapte2 strategic marketing managementDemier Company Limited
 
Marcom planning tools & templates
Marcom planning   tools & templatesMarcom planning   tools & templates
Marcom planning tools & templatesJohn Gregory Olson
 
IMC Planning Process
IMC Planning ProcessIMC Planning Process
IMC Planning Processgyaanmasti
 
Strategic Marketing Overview
Strategic Marketing OverviewStrategic Marketing Overview
Strategic Marketing Overviewkthomas2223
 

What's hot (20)

An introduction to IMC
An introduction to IMCAn introduction to IMC
An introduction to IMC
 
Chapter 2 (1)
Chapter 2 (1)Chapter 2 (1)
Chapter 2 (1)
 
Example 2 - 2010-11 UCI Merage Exec Programs Marketing Plan_no budget
Example 2 - 2010-11 UCI Merage Exec Programs Marketing Plan_no budgetExample 2 - 2010-11 UCI Merage Exec Programs Marketing Plan_no budget
Example 2 - 2010-11 UCI Merage Exec Programs Marketing Plan_no budget
 
The Strategic Marketing Process - How to Structure Your Marketing Activities ...
The Strategic Marketing Process - How to Structure Your Marketing Activities ...The Strategic Marketing Process - How to Structure Your Marketing Activities ...
The Strategic Marketing Process - How to Structure Your Marketing Activities ...
 
Chapter 22 - Managing a Holistics Marketing Organizations
Chapter 22 - Managing a Holistics Marketing OrganizationsChapter 22 - Managing a Holistics Marketing Organizations
Chapter 22 - Managing a Holistics Marketing Organizations
 
Unit 7 assignment
Unit 7 assignmentUnit 7 assignment
Unit 7 assignment
 
Strategic Marketing versus Tactical Marketing
Strategic Marketing versus Tactical MarketingStrategic Marketing versus Tactical Marketing
Strategic Marketing versus Tactical Marketing
 
UNIT 7: THE DEVELOPING MANAGER
UNIT 7: THE DEVELOPING MANAGERUNIT 7: THE DEVELOPING MANAGER
UNIT 7: THE DEVELOPING MANAGER
 
Ii mm.02.10
Ii mm.02.10Ii mm.02.10
Ii mm.02.10
 
Chapter 17 - Designing and Managing Integrated Marketing Communications
Chapter 17 - Designing and Managing Integrated Marketing CommunicationsChapter 17 - Designing and Managing Integrated Marketing Communications
Chapter 17 - Designing and Managing Integrated Marketing Communications
 
Harvard style term paper e-business start-up plan complete
Harvard style term paper   e-business start-up plan completeHarvard style term paper   e-business start-up plan complete
Harvard style term paper e-business start-up plan complete
 
Module 5 integrated marketing communication strategy
Module 5 integrated marketing communication strategyModule 5 integrated marketing communication strategy
Module 5 integrated marketing communication strategy
 
Belch 10e ch01_ppt
Belch 10e ch01_pptBelch 10e ch01_ppt
Belch 10e ch01_ppt
 
Creating and Capturing Customer Value
Creating and Capturing Customer ValueCreating and Capturing Customer Value
Creating and Capturing Customer Value
 
Chapte2 strategic marketing management
Chapte2 strategic marketing managementChapte2 strategic marketing management
Chapte2 strategic marketing management
 
Adman Lecture 6
Adman Lecture 6Adman Lecture 6
Adman Lecture 6
 
Unit 1
Unit 1Unit 1
Unit 1
 
Marcom planning tools & templates
Marcom planning   tools & templatesMarcom planning   tools & templates
Marcom planning tools & templates
 
IMC Planning Process
IMC Planning ProcessIMC Planning Process
IMC Planning Process
 
Strategic Marketing Overview
Strategic Marketing OverviewStrategic Marketing Overview
Strategic Marketing Overview
 

Similar to Marketing In Higher Ed Final

Rewiring marketing: a practice based approach
Rewiring marketing: a practice based approachRewiring marketing: a practice based approach
Rewiring marketing: a practice based approachBrowne & Mohan
 
Marketing Assignment Help and Its Crucial Role in Student Education
Marketing Assignment Help and Its Crucial Role in Student EducationMarketing Assignment Help and Its Crucial Role in Student Education
Marketing Assignment Help and Its Crucial Role in Student EducationIndia Assignment India
 
Diploma In Business Marketing
Diploma In Business MarketingDiploma In Business Marketing
Diploma In Business Marketingroyalgrandeur7539
 
Diploma In Business Marketing
Diploma In Business MarketingDiploma In Business Marketing
Diploma In Business Marketingwoodenpersonnel36
 
The strategic-marketing-process-e book
The strategic-marketing-process-e bookThe strategic-marketing-process-e book
The strategic-marketing-process-e bookAdCMO
 
The Strategic Marketing Process
The Strategic Marketing ProcessThe Strategic Marketing Process
The Strategic Marketing ProcessHBA
 
The strategic-marketing-process-e book
The strategic-marketing-process-e bookThe strategic-marketing-process-e book
The strategic-marketing-process-e bookSealJuice
 
L-5.3 Strategic Marketing.pptx
L-5.3 Strategic Marketing.pptxL-5.3 Strategic Marketing.pptx
L-5.3 Strategic Marketing.pptxFuad Hasan
 
Marketing questions for Interview
Marketing questions for InterviewMarketing questions for Interview
Marketing questions for Interviewdeepshikha gupta
 
Strategic marketing and rural marketing
Strategic marketing and rural marketingStrategic marketing and rural marketing
Strategic marketing and rural marketingNil Wahulkar
 
Strategies for Balancing Marketing Priorities during a Slow Economy.pdf
Strategies for Balancing Marketing Priorities during a Slow Economy.pdfStrategies for Balancing Marketing Priorities during a Slow Economy.pdf
Strategies for Balancing Marketing Priorities during a Slow Economy.pdfEnterprise Wired
 
INTEGRATING MARKETING COMMUNICATION
INTEGRATING MARKETING COMMUNICATIONINTEGRATING MARKETING COMMUNICATION
INTEGRATING MARKETING COMMUNICATIONYIGIT ACIKAY
 
Marketing concepts | Kamal Singh
Marketing concepts | Kamal SinghMarketing concepts | Kamal Singh
Marketing concepts | Kamal SinghKamalSingh397
 
Chapter 1-Overview of MARKETING MANAGEMENT.pptx
Chapter 1-Overview of  MARKETING MANAGEMENT.pptxChapter 1-Overview of  MARKETING MANAGEMENT.pptx
Chapter 1-Overview of MARKETING MANAGEMENT.pptxNoemieDelgado
 
Fighting for your Economic Development Marketing Budget
Fighting for your Economic Development Marketing BudgetFighting for your Economic Development Marketing Budget
Fighting for your Economic Development Marketing BudgetHeather @ Rain
 

Similar to Marketing In Higher Ed Final (20)

Rewiring marketing: a practice based approach
Rewiring marketing: a practice based approachRewiring marketing: a practice based approach
Rewiring marketing: a practice based approach
 
Marketing Assignment Help and Its Crucial Role in Student Education
Marketing Assignment Help and Its Crucial Role in Student EducationMarketing Assignment Help and Its Crucial Role in Student Education
Marketing Assignment Help and Its Crucial Role in Student Education
 
Diploma In Business Marketing
Diploma In Business MarketingDiploma In Business Marketing
Diploma In Business Marketing
 
Diploma In Business Marketing
Diploma In Business MarketingDiploma In Business Marketing
Diploma In Business Marketing
 
Marketing Skills
Marketing SkillsMarketing Skills
Marketing Skills
 
The strategic-marketing-process-e book
The strategic-marketing-process-e bookThe strategic-marketing-process-e book
The strategic-marketing-process-e book
 
The Strategic Marketing Process
The Strategic Marketing ProcessThe Strategic Marketing Process
The Strategic Marketing Process
 
The strategic-marketing-process-e book
The strategic-marketing-process-e bookThe strategic-marketing-process-e book
The strategic-marketing-process-e book
 
L-5.3 Strategic Marketing.pptx
L-5.3 Strategic Marketing.pptxL-5.3 Strategic Marketing.pptx
L-5.3 Strategic Marketing.pptx
 
Marketing questions for Interview
Marketing questions for InterviewMarketing questions for Interview
Marketing questions for Interview
 
Apcon 2019 presentation planning for marketing effectiveness
Apcon 2019 presentation planning for marketing effectivenessApcon 2019 presentation planning for marketing effectiveness
Apcon 2019 presentation planning for marketing effectiveness
 
Strategic marketing and rural marketing
Strategic marketing and rural marketingStrategic marketing and rural marketing
Strategic marketing and rural marketing
 
Strategies for Balancing Marketing Priorities during a Slow Economy.pdf
Strategies for Balancing Marketing Priorities during a Slow Economy.pdfStrategies for Balancing Marketing Priorities during a Slow Economy.pdf
Strategies for Balancing Marketing Priorities during a Slow Economy.pdf
 
INTEGRATING MARKETING COMMUNICATION
INTEGRATING MARKETING COMMUNICATIONINTEGRATING MARKETING COMMUNICATION
INTEGRATING MARKETING COMMUNICATION
 
Sales management
Sales managementSales management
Sales management
 
Marketing concepts | Kamal Singh
Marketing concepts | Kamal SinghMarketing concepts | Kamal Singh
Marketing concepts | Kamal Singh
 
Chapter 1-Overview of MARKETING MANAGEMENT.pptx
Chapter 1-Overview of  MARKETING MANAGEMENT.pptxChapter 1-Overview of  MARKETING MANAGEMENT.pptx
Chapter 1-Overview of MARKETING MANAGEMENT.pptx
 
Fighting for your Economic Development Marketing Budget
Fighting for your Economic Development Marketing BudgetFighting for your Economic Development Marketing Budget
Fighting for your Economic Development Marketing Budget
 
Report on marketing strategies of Amazon
Report on marketing strategies of AmazonReport on marketing strategies of Amazon
Report on marketing strategies of Amazon
 
Management school
Management schoolManagement school
Management school
 

Marketing In Higher Ed Final

  • 1. I Can’t Afford Marketing Right Now As the stock market continues its uncertain course, colleges and universities are looking for ways to reduce expenses. Any “non-essential” spending will quickly be seen as a candidate for budget reductions. So in this environment, why would you consider redeploying your resources to increase your marketing focus? In this market, you can’t afford not to. Frequently maligned, marketing has taken a back seat to other mission critical functions like development or admissions in most colleges and universities. At its worst, marketing is delegated to a creator of brochures, emails and cookie cutter websites; at its best, it is seen as communication crisis management. But the value of a truly integrated strategic marketing plan to a college or university can be translated in increased revenue and expense reduction. Utilizing advanced marketing techniques to sell the university will be crucial as the number of high school graduates start to plateau and acceptance ratios plummet due to student’s ability to pay for the college of their choice. In addition, competition for students is increasing and state universities are very competitive in the search for top students. The trick for savvy marketers is to make sure you obtain the appropriate return on your marketing dollars spent. There are eight goals for marketing in any organization. The depth to which marketing is utilized depends on whether you are looking to remain tactical, engage in product marketing (promoting a department or course) or become truly integrated by including a strategic marketing component. Eight Goals of Marketing Database Marketing Understand the Integrate Learnings Track Effectiveness Market & Competition Strategic Generate Leads Effective Marketing Tactical Marketing Segment the Market (students, donors, Organization alumni etc.) Marketing Build the Design Products to Communicate with Organization’s Support the Strategy the Market Strategy & Brand Product Marketing
  • 2. If you fully engage your marketing department and utilize all eight goals, there are several key areas to ensure success: Research This is a key competency utilized throughout a university yet an integrated market research plan is seldom created to maximize this expenditure and ensure that the strategic questions and markets are being addressed. To ensure that the strategic plan is on target, it is crucial to understand the key markets and how the competition (other providers of knowledge) is addressing those needs. Brand & Sub-brand development and standardization One of the most expensive activities for a college or university is to develop their brand and inculcate that brand into the hearts and minds of their administration, faculty, student body and alumni. Brand is the collection of experiences, symbols and feelings that the audience has when thinking about your college. Frequently, universities undermine their brands by allowing sub-brands to proliferate. This does not mean that that promoting a college’s specialties is less important. A good brand strategy should be able to expand beyond the core values of the university to embrace sub-brands that reinforce the core values. Standardization of your brand allows your branding dollars to work harder for you as well as reduces the expense of promoting multiple brands. Market Identification and Segmentation There are at least nine market segments that are important in higher education including: undergraduates, graduate students, alumni, donors, local companies, business leaders, parents, college counselors and faculty. The typical college communicates to these markets with a product push instead of addressing their needs. In addition, tactics successfully utilized in one market are not utilized in the other markets. Marketing Tactic Optimization Not all markets are created equal and therefore your marketing dollars should not be spent equally. Even within a market, not all targets are created equally. By optimizing marketing tactics – using your most expensive tactics for those individuals with the highest potential for acceptance is critical to double digit returns on your marketing dollar. Campaign analysis, Data Management and Modeling (contact management) The data analysis and management separates “nice-to have” marketing from “mission critical” marketing. All marketing outreach, including branding and public relations have a tangible
  • 3. value to your organization and as a result, can and should be tracked. New marketing tactics must be tested against your existing tactics. Can a slight modification improve your response rate? A test and learn environment in your marketing department can develop a culture of constant improvement. Data models can be created to identify those students most likely to accept your offer as well as those alumni mostly likely to donate. Response models will ensure that you continue to improve your success ratios. Communications & Thought Leadership Beyond crisis communications, grant and book announcements, an integrated public relations plan allows you to reinforce your brand, build your institution as a thought leader and manage your press coverage so your competitor is minimized. To build a plan, each key department in a university must be consulted to ensure your university receives favorable coverage throughout the year. This helps build your reputation so that when something negative does arise, your connections can work for you. Resource Consolidation As important as obtaining a return on your marketing investment is making sure that use your collective buying power to obtain all the discounts possible. Consolidating resources and vendors is key to getting the most out of your marketing expenditure. Key areas to consider are: media buying, production, creative services, research. If you purchase these services through multiple departments are you utilizing your buying power? If you decide to implement a fully integrated marketing organization, the final decision is to determine if you are looking for a centralized or decentralized organizational structure. Both structures have their pro’s and con’s. Pro’s Centralized Decentralized Easier to create economies of scale Can be more responsive to a changing environment Better budget control and accountability Less competition for budget dollars Easier to build and maintain standards Able to meet needs in a more customized fashion Facilitates strategic planning Intimate knowledge of product and audience Cost savings on equipment, software and More control over resources training Greater career path opportunities Better sense of alignment with the business Con’s Centralized Decentralized Does not respond as quickly in a More costly to operate
  • 4. changing environment Less effective at tapping the creativity More difficult to control creating problems of coordination and knowledge of lower level employees Can be perceived as dictatorial and Competition for resources and budget threatening to departments Can become too theoretical because Can lose creativity because you only see your own way they are not tied as closely to the business There is also a hybrid approach which includes centralizing certain highly specialized or costly functions like database management or market research while allowing for decentralized execution. To ignore your marketing in a difficult economy ensures that you will miss an enormous opportunity. Universities will be forced to cut these expenses because very little tangible value can be associated with stand alone tactical marketing, but an integrated marketing approach could allow you to stand out in the market. It will also set the stage for communication excellence as competition of students and development dollars becomes more intense. Byline: Suzanne Cuccurullo is a 20 year marketing veteran focusing on high performing marketing teams and owner of Cuccurullo Consulting Services. She can be reached at suzanne@cuccurullo.org .