With the school year coming to an end, it’s a perfect time to reflect on your school and your place within the market you serve. The most successful schools are those that adapt their product to the needs of their market. And with ‘Product’ being the first of the ‘7 P’s’ – it’s a great place to start.
Over the course of this year, we’ve seen more and more schools evolve and adapt. Many Prep Schools have ditched the idea of Saturday School, boarding options have become more flexible and an increasing number of girls’ (and boys’) schools have evolved to a co-ed or Diamond model approach. These are all responses to the needs of the market; albeit some more radical than others.
But how do you know if you are meeting the needs of your market?
Keep a close eye on your numbers – if your enquiries, visits, joiners or conversion rates drop, this can be an early indication that you are losing appeal. Identify your problem area and research, research, research. Request a copy of our Research Guide if you don’t already have one!
Do you have a system in place to regularly check what your customers think of your product?
We’ve researched over 180,000 independent school parents and we know how much they love to have their voices heard. Parental surveys will give you a great insight into how well you are meeting the needs of your parents both now and in the future. We recommend running these bi-annually.
Do you know what share you have of your available market?
Knowing your market is vital. Where do they live? What are their values? What lifestyles do they lead? What is important to them in an independent education? What level of fees will they pay?
How do you stand up to the affordability challenge?
We know affordability is one of the biggest challenge facing the independent schools sector right now. Each and every independent school must take a close look at their costs and their provision and marry the two – can cuts be made in some areas to increase affordability, or would parents rather pay the premium? If you don’t know the answer, ask!
If you’d like us to pop over and see you this summer to discuss how we can help, contact firstname.lastname@example.org