How Do You Open New Markets?
Strategically increase your enrollment from new markets with Encoura’s latest data science–predictive models that weave seamlessly into your student search. Encoura’s Opportunity+ identifies students willing to travel from out-of-state, as well as students who are up to 3x more likely to be interested in schools like yours, which gives your institution the chance to reach these students ahead of similar institutions.
TRANSCRIPT – click video above to watch.
Hi, I’m Chris Tyburski, Vice President for Higher Education Consulting here at Encoura with today’s Enrollminute.
Many institutions are struggling with competing priorities which are keeping them from reaching out to new students and creating new markets. Higher education is facing a lot of challenges right now—whether it’s the looming enrollment cliff in 2025, students and parents debating the overall value of higher education in general, or changing demographics nationally.
Future-Proof Enrollment with New Markets
There are things you can do to future-proof your enrollment. One of them is developing new markets. Institutions across the country have been successful, keeping three things in mind.
- First, it takes time. Expect a new market to take 2 to 3 years at minimum to grow. What you’re really looking for is not an instant windfall, but steady growth over the course of those 2 to 3 years.
- Second, do the research and look at the data before you choose your new markets. You need to understand who the students are in those markets, along with knowing which markets are the right ones to target.
- Third, lead with your best foot. Which programs get the best results? Where do you have the strongest reputation? Lead with those first and build the rest of your brand around them. You can’t expect to be everything to everyone all at once.
Remember to be patient. Remember to dig into the data, and remember to leave with your best foot forward. You’ve got this!
