Hybrid

A tried and tested technique for communicating costs is relative positioning. This communication method uses alternative benchmarks for relaying the relative cost of your institution. This could mean benchmarking against other universities similar to yourself, or using a completely different benchmark altogether. This is an effective strategy for marketing to specific student personas, who may be interested in studying in a particular state, subject area or size of institution.

For example, if you’re a private institution in New York, referring to how your net tuition fees stack up against similar institutions in the city can usher students into your courses. If a student is determined to study in the city of New York, then simply being in the city has put you on their shortlist. Pointing out that the student can get the same city experience for less investment than the competition can positively tip the scales in your favour.

Discussions around costs can be an uncomfortable and sometimes sensitive topic for students. It’s been instilled into us that talking about how much someone earns, or how much they spend, is a taboo subject. Ignoring the problem however, won’t make it go away. Approaching the conversation in the right way, at the right time, will yield strong results at the decision-making end of the student funnel.

If you need support with your messaging, partnering with specialists who can help you subtly address the cost of college can help. Get in touch to learn more.