HE Snippet Report - Selling Well in a Buyers' Market
In the past decade the number of 18-year olds has been in decline and over the same period, mature and part-time study numbers have also dropped. It’s simple economics that fewer applicants, coupled with the decision to uncap student numbers in England since 2015, means the power has shifted to applicants – the ‘buyer’.
In the past decade the number of 18-year olds has been in decline and over the same period, mature and part-time study numbers have also dropped. It’s simple economics that fewer applicants, coupled with the decision to uncap student numbers in England since 2015, means the power has shifted to applicants – the ‘buyer’.
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Y O U T H S I G H T S N I P P E T J U L Y 2 0 1 9<br />
HOW TO REMAIN COMPETITIVE<br />
So how should university market<strong>in</strong>g teams plan to face the new<br />
climate? YouthSights’ experts recommend the same all-weather<br />
solutions for responsible sell<strong>in</strong>g whatever the market br<strong>in</strong>gs:<br />
1. Understand your market<br />
Research your potential market; where they can be found and what<br />
their drivers are (YouthSight's <strong>HE</strong> Success Suite will help you ga<strong>in</strong><br />
that competitive edge).<br />
2. Shape your offer to suit their needs<br />
Def<strong>in</strong>e strategic value propositions, not gimmicks and hard sell<strong>in</strong>g.<br />
3. Stand out by be<strong>in</strong>g dist<strong>in</strong>ctive, not by be<strong>in</strong>g brash<br />
Give applicants a reason to make you a positive choice, which they<br />
will stick to because it’s what they want, not just because it’s what<br />
they can get.<br />
4. Don't be afraid of niches<br />
There will be enough students to go around and as research has<br />
shown, universities that f<strong>in</strong>d what makes them different thrive<br />
compared to those that try to compete on others' terms.<br />
5. Sell your values<br />
Buyers are loyal because they align with brand values. For<br />
example, people buy Nike products <strong>in</strong> order to just do it, not just<br />
to have a pair of tra<strong>in</strong>ers.<br />
6. Create a sense of belong<strong>in</strong>g<br />
<strong>Sell<strong>in</strong>g</strong> <strong>in</strong> a buyers' market does not stop at the po<strong>in</strong>t of purchase.<br />
Everyth<strong>in</strong>g you said <strong>in</strong> your market<strong>in</strong>g must come true for them to<br />
feel, not like a buyer after all, but a part of an academic community.
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