Marketing strategies are vital for schools to effectively promote their unique offerings, connect with their target families and achieve their goals. With the ever-evolving landscape of marketing, it is crucial to understand the different approaches available.
1. Differentiation Strategy
A differentiation strategy focuses on setting your school apart from its competitors by highlighting unique features, benefits or qualities of your school offerings. This strategy aims to create a perception of excellence, making the offering more appealing to the families you are targeting.
Schools employing this strategy invest in research and development, innovation and quality to develop offerings that stand out in the market. Effective communication and marketing campaigns emphasise the unique value proposition and create a competitive edge for your school.
2. Market Penetration Strategy
A market penetration strategy aims to increase market share and customer base for a school within the current market. This strategy often involves:
- Crafting knowledgeable and respectful communications for parents, students and staff.
- Developing virtual and hybrid events in a post-COVID-19 world.
- Strategies for a website that engages and informs.
- Enhancing your social media presence to boost engagement and help families take the next step in their enrolment journey.
By targeting untapped segments or enticing family interest away from competitors, schools can expand their market presence and drive growth.
3. Market Development Strategy
A market development strategy focuses on expanding a school’s reach by entering new markets or targeting new family groups. This approach involves identifying untapped markets or families that have a potential interest in your school’s mission and unique offerings.
To implement this strategy effectively, schools may need to adapt their offerings or marketing tactics to cater to the unique needs, preferences or demographics of the new target group. Market research, partnerships and localised marketing campaigns play a crucial role in successfully penetrating new markets.
4. Diversification Strategy
A diversification strategy involves expanding a school’s programs by entering new markets with new or expanded offerings. This approach seeks to minimise risk by diversifying the enrolment journey for families and reducing reliance on a single offering.
Diversification can be achieved through two primary methods: related diversification and unrelated diversification.
- Related diversification occurs when a school expands into new markets or offerings that are closely related to its existing offerings. This strategy leverages existing capabilities, resources and student base to penetrate new markets successfully. For instance, a school that currently offers a STEM teaching approach may add the arts for a STEAM cohesive learning paradigm.
- Unrelated diversification involves adding new offerings that are entirely different from a school’s core offerings. This strategy requires significant investment, research and a thorough understanding of the new market dynamics. For example, a developing school may decide to add an entire athletics department, including building a gym and outdoor track, after conducting research on the outcome of undertaking such an ambitious endeavour.
Effective marketing strategies are essential for schools to thrive in a competitive landscape. By understanding and utilising the four types of marketing strategies – differentiation, market penetration, market development and diversification – schools can make informed decisions about their marketing approach.
Each strategy offers unique benefits and requires careful planning, research and execution to achieve success. By aligning marketing strategies with enrolment and retention goals and target audience preferences, schools can gain a competitive edge and drive sustainable growth.
