December 2009 Lawlor Focus

Looking Back, Looking Forward

As we near the end of the calendar year, it’s a perfect time to look back and reflect on the past year, as well as an appropriate time to look ahead and plan accordingly.

Ordinarily, the reflection informs the planning. But this past year’s Great Recession brought about a shift (most likely a permanent one) in consumers’ behaviors and perceptions, ushering in more frugal spending habits and more skepticism about colleges’ value propositions. Our economic landscape’s “new normal” has higher education administrators anxiously wondering whether their business models are even sustainable moving forward. But to reinforce a point we’ve been making in recent issues of the Lawlor Focus, times of uncertainty also present opportunities for dynamic innovation.

Innovation requires creative thinking, especially on a more strategic level that involves all aspects of the marketing mix. As they engage in institutional marketing, higher education administrators by and large have been willing to apply creative thinking to only the element of the marketing mix that encompasses promotion and communication. While developing new communication solutions that deliver authentic and distinctive messaging is commendable, colleges and universities will need to revisit the entire marketing mix in order to effectively seize the moment of transition these uncertain times offer. This calls for asking questions such as the following:

• Is the educational experience your college offers truly distinctive? What can your institution do to create distinction and avoid being perceived as a commodity experience?
• Is your institution’s entire educational experience relevant to what the marketplace is seeking? Do you have evidence to support its relevance?
• Is the cost of delivery sustainable? Does your institution operate efficiently and pragmatically to offer a price point that is commensurate with the perceived value of the experience?
• Are there other sources for generating revenue beyond raising the price of tuition?
• Can your institution expand its reach and efficiency by aligning with other institutions with shared values?
• Does your institution foster a culture of entrepreneurial thinking so that innovation is part of your institutional identity?

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The coming months will no doubt be full of challenges. One need look no further than the subtitle of the soon-to-be published book DIY U by Anya Kamenetz, which is Edupunks, Edupreneurs, and the Coming Transformation of Higher Education, to note that we are entering a period of systemic change. (Kamenetz will be a featured speaker at Summer Seminar 2010: A Time of Necessity, Authenticity & Creativity on June 10-11, 2010, in Minneapolis.) Take time now to reflect on both your institution’s mission and the realities of the marketplace. Finding ways to effectively bring the two into balance will be the key to successfully navigating the future.

Finally, The Lawlor Group wishes you only the best during this season of reflection. Education is one of the most meaningful vocations to pursue and is crucial to the future success of our society. We salute you for your dedication and passion. Best wishes for continued satisfaction, new ideas, and working and serving in a culture of innovative thinking.

In the news

The Washington Monthly shared a finding from the American Association of State Colleges and Universities that the U.S. has now become “one of only two nations on Earth in which people aged 25 to 34 have lower educational attainment than their parents.”

Did you know?

35% of consumers say they were able to save none of their income during the past 12 months. Meanwhile, almost a quarter of consumers saved more than 10% of their income.

Source: BIGresearch