the price is right setting tuition at your school presented by dr. alan pue president, the barnabas...
TRANSCRIPT
The Price is Right
Setting Tuition at Your SchoolPresented by Dr. Alan Pue
President, The Barnabas Group, [email protected]
Remember
Somebody’s Got to Pay
The Current Reality
85/15
Why Do They?
Create a list of the top three to five reasons students choose to enroll at your school –
1.2.3.4.5.
Why Do They?
How do you know?
Why Do They?
Create a list of 3-5 reasons why students chose to withdraw from your school –
1.2.3.4.5.
Why Do They?
How do you know?
Consider
The SSI
Why Did You Do That?
Consider your last major purchase (over $5,000). Now walk through the decision making process and consider all of the thoughts, emotions, internal and external influencers. What did that decision making process look like?
Question
When something as precious as your freedom and reputation is at stake are you willing to risk it all
on . . . ?
What Price Says
Are there exceptions?
What the Research Says . . .
Schools with consistently strong enrollment . . . Own a consistent, clear, compelling message Communicate that message effectively Employ sound enrollment/retention strategies Invest sufficient resources Are known for quality Cultivate a powerful, positive school culture Consistently deliver exceptional customer service Have above average “curb appeal” Work at building strong constituent and community
relationships
In the End It is About
VALUE
What Boards Want to Do
Hold the line!
What Boards Must Do
Ensure that . . .
TUITION
SOME FALSE PREMISESThe Point BreakSet the Price then Build the BudgetOur Past Tuition Rates Have Been on TargetPay Careful Attention to Your CompetitionWe’ve Got to Remain AffordableLow Tuition Allows for Greater GivingDiscount the Empty SeatsWe need to hold the line on tuition
increases
Another False Premise
“By at least 20%”
A Formula
Multiply/Divide*
* But don’t forget
Mission Impossible I and to Infinity
“a business can’t continue
to . . .”