Changing Higher Ed 3 Enrollment Boosting Strategies for Accredited Institutions
In this conversation between Dr. Drumm McNaughton and Dr. David R. Decker, the President of Franklin University, we explore three strategic moves aimed at driving higher education enrollment. Franklin University, which primarily serves non-traditional, part-time adult learners, offers a unique perspective on higher education.
Podcast Highlights
Applying the 4 Ps of Marketing to Higher Education
David Decker discusses how applying the traditional marketing framework of the 4 Ps (Product, Price, Place, and Promotion) to higher education programs can lead to success. He highlights that in addition to content, academic programs should consider their structure, transferability, micro-credentials, and prior learning assessments as part of the product. This broader perspective allows universities to better align with the needs of students and employers.
"Backing into Costs" for TuitionDecker emphasizes that pricing in higher education should go beyond an institution's needs. Instead, it should consider fixed points in the universe, such as IRS guidelines for tax deductions, Pell Grants, and the ideal price of zero that students aim for. Franklin University aligns its tuition rates with these fixed numbers, aiming to make education more accessible and affordable for students. This approach ensures a market-driven pricing strategy.
Leveraging Alliances and PromotionDavid Decker highlights the importance of building alliances with community colleges, corporations, and other professional organizations. These partnerships enhance the credibility of the institution and provide students with clear pathways for credit transfer and career development. Additionally, promotion in higher education extends beyond traditional advertising, involving relationships, articulation agreements, and community college alliances to effectively reach prospective students.
Three Takeaways for Higher Education Leaders: Think Beyond ContentEncourage academic institutions to expand their thinking about academic programs beyond content. Consider the structure, transferability, and practicality of programs to better meet the needs of students and employers.
Embrace a Market-Driven Pricing ModelMove away from self-absorbed pricing models and align tuition rates with fixed points in the education ecosystem, making education more affordable and accessible to students.
Build Strategic PartnershipsFoster alliances with community colleges, corporations, and organizations to enhance credibility, promote transferability, and provide clear pathways for students to succeed in their academic and professional journeys.
David Decker's insights from his experience at Franklin University shed light on innovative strategies that higher education leaders can adopt to drive enrollment, reduce costs, and provide high-quality education.
Read the transcript on our website →
About Our Podcast Guest
David R. Decker joined Franklin University as its President in 2007. Under his leadership, Franklin focuses on the demonstrable achievement of student outcomes, through which graduates are empowered to rise in their professions and strengthen their contributions to their families, communities, and employers.
Franklin University has become a doctoral-granting university under Dr. Decker’s tenure and has also established a world-class Instructional Innovation Center focusing on enhancing student learning and student success. Dr. Decker graduated from Grinnell College, holds the M.A. and Ph.D. from the University of Kansas, and earned the M.B.A. from the Wharton School of the University of Pennsylvania.
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About the Host
Dr. Drumm McNaughton, host of Changing Higher Ed®, is a consultant to higher education institutions in governance, accreditation, strategy and change, and mergers. To learn more about his services and other thought leadership pieces, visit his firm’s website: https://changinghighered.com/.
The Change Leader’s Social Media Links
- LinkedIn: https://www.linkedin.com/in/drdrumm/
- Twitter: @thechangeldr
- Email: podcast@changinghighered.com
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