4 ways to boost revenue at your university
Boost revenue across 4 areas of university business.
Read time: 4 minutes
When it comes to generating revenue on your campus, there are probably four main areas you're paying the most attention to: admissions, athletics, advancement and alumni relations. But there may be more you can do in these areas. It comes down to how you're using collected data and personalization in your marketing tactics.
With universities becoming more reliant on tuition dollars and donations due to cuts in state and federal funding, and students having a choice of where to spend their money when it comes to higher education — choosing between traditional, online or alternative institutions — results-proven marketing tactics may be more critical now than ever.
The following article will identify ways to use data and personalization to reach and help attract students to your university and build a loyal alumni network to help incoming revenue in these four main areas.
Alumni: do more than ask
Alumni today must feel enticed to give, especially if they've recently handed over their final tuition check. And just as students do with recruitment and enrollment, alumni should feel as though they have been specifically sought after and personally communicated with. This can be done through higher education data analytics and personalization.
When equipped with the right data on your targeted audience, you can seek donations using personalization, and share updates on your university about areas of interest, past and upcoming events, big games, advanced degrees and more. And do it in a format your alumni are responsive to — figure out what works for who and stick to it, whether it be email campaigns, social media, phone calls or mailings such as newsletters.
By challenging traditional marketing methods and incorporating cross media and personalization, you can reach prospective students, athletes, corporations and alumni in new and original ways. Doing so can help result in increased enrollment and revenue at your university.
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