FE Needs to Listen to Its Customers If It Is To Remain Financially Viable. And that often means provoking a conversation rather than being passive. If you’ve learnt anything about complaints its that they are a great way to get an insight into what is troubling your prospects and students. But what sort of listening strategy Read more about The Yorkshire Building Society Approach to its Customers Could Impact FE Underfunding[…]
Provider Marketing research Indicates that The Bigger the Marketing Budget the Smaller the ROI. Most Colleges Are “UnderFunded” So Let’s Consider Why Most Providers Spend Too Much on Marketing. It’s ironic really but over the last few years I’ve reviewed the marketing of providers where the budget has ranged from £35k to way over Read more about Why Most Providers Spend Too Much on Marketing[…]
College Incorporation Fooled Many People into Thinking They Controlled Colleges. Some Thought That Because The Corporation Had Legal Ownership They “Owned” the College. But Incorporation or “Legal Ownership” Isn’t The Same as Control. It’s a bit like people that think they own their businesses when the reality is that the bank owns most of Read more about Who Controls Your College or Training Organisation?[…]
Notices of Financial Concern Are Hitting More & More Providers. Sometimes They Are Triggered by Non Payment of Invoices and Sometimes By Outdated Practices Being Used For example the ESFA recently reported on a provider where they stated “colleges finances were poor with some accounting still being done in hand written ledgers.” Soon after the Read more about Notices of Financial Concern are Being Triggered by Outdated Practices[…]
So you’ve probed the client’s issues and they’re enthusuastic. They’ve had an “aha” moment – you’ve shared new insights and thinking and they fully trust you’re the expert in this field. And you’ve explored the impact of the problem – you can see they feel the pain and they need to fix it urgently. In Read more about Providers Lose Income When They Try to Sell to the Wrong Person[…]
The Correct Data Needs to Be Defined if We Are to Make Decisions Based On Accurate Data
But how do we be sure we are making Decisions Based On Accurate Data?
The old mantra says that if you can’t see, or define it, you can’t measure it.
So step one on making decisions is to understand and agree what data is required to measure and evaluate things.
In FE you can’t argue that marketing is doing really well based solely on website hits, Facebook likes or marketing spend. What really matters are how many bums get on seats.
Along the way we can measure website hits .. but no one has to go to the website to get their bum on a seat. We can measure Facebook likes … but no one needs a Facebook account to put their bum on a seat. And how much you spend is immaterial .. except I’d like to see you spend much less and get better results.
The one thing that is sure is that spending more on marketing doesn’t help balance to income/expenditure see-saw.
We also know that if you’ve kept very good records that the interim measurement s like website hits may roughly correlate to the number of bums on seats. But it is a crude metric at best.
But there’s more to it than this. […]
Your Next New Customer Is Likely to Be An Existing Customer Provided You Over Deliver on Your Promises. For Success, You Need to Know How Over Delivering Your Way Through UnderFunding Works.
What I’m going to explain applies to 16-19 and employers depending on how you deliver it. There is a Formula to Over Delivering Your Way Through UnderFunding
Get this right and people come back to you again and again .. or recommend you to others.
I hate the word “superpleasing” but that is the word David Maister uses in his book “Managing the Professional Services Firm” and the principle applies to FE as much as any other professional business.
And with underfunding being a major issue we need to find ways to get extra bums on seats whilst not spending too much.
If You Compete on Price Someone Will Always Beat Your Price. But If You Deliver Insights to Prospects They Are Much More Likely to Buy.
Imagine the scene. You get called in to meet an employer. You check out their need and seem to get along really well with them. Away you go, you write a proposal and quickly send it off. Then nothing happens. The silence is deafening.
Why don’t they come back? Why don’t they jump at the chance to work with you?
Let’s face it this, or something similar, has happened to all of us at some time.
If you eventually get to speak to them they explain that a new big project has come up, that they are just waiting for the new website to be launched / new manager to start / the new moon to rise/gone with another provider. … I guess we’ve all heard 1001 different reasons why they don’t want to go forward at that time.
If they went to another provider because of your price you lost a piece of business that could have been won .. at your price .. if you’d have provided insights.
Finding Prospects is hard enough without making it harder.
The Real Reason Isn’t Price … It’s About How You Deliver Insights to Justify your Price
The real reason you lost the project was quite likely that you focused on price and didn’t provide any insights. Or you didn’t bring new insights.
Let me explain how to remedy this. […]
In my Recent FE News article I spoke about Blockchains, MicroDegrees and BitDegrees I said, “Over recent years you will have undoubtedly have heard of bitcoins and the technology that powers them, the blockchain. The two are synonymous in the minds of many but are in fact only loosely related in reality. The blockchain is Read more about The One About the Blockchains, MicroDegrees and BitDegrees[…]
Providers Collect Huge Amounts of Data. But They Often Fail to Use this Big Data. In this Webinar, I’ll Explain How to Use Chatline Data to Drive Recruitment & Sales Chatlines have really taken off in the education and retail sectors. In some countries, not a college or university is without a web-based chatline. And these chatlines Read more about How to Use Chatline Data to Improve Recruitment[…]