Today’s Parent Is An Investor Looking for A Solid ROI
In this article, you will learn how to adjust your marketing strategy and treat your school as an investment with an excellent rate of return.
Private school is expensive.
According to Private School Review, the annual national average for private school tuition is $9,975. The average tuition for primary and elementary school is $8,918 and a whopping $13,524 for high schoolers.
And those figures are per child.
Today’s parents are becoming more financially savvy and astute. To attract new students and keep your current student body you have to show how your school is a great investment.
Is Your School Worth the Investment?
Investing in their children is something every good parent is familiar with. They will do whatever it takes for their child to be successful. This includes spending big bucks on education.
Parents are looking for good, affordable alternatives.
The allure of private education is the expectation of getting a high-quality education. But if spending $100,000 on college after years of paying thousands of dollars in private tuition nets an unemployed young adult with a ton of debt, is it worth it?
That is the question, and you must focus on an answer. This question underpins how your school performs overall as an investment. Have you made sure you deliver an excellent Return On Investment (ROI)?
Education Isn’t Free
In the U.S., the government creates school districts supported by state or local taxes. And in this system, school funding and quality are proportional to where you live. The schools in one neighborhood may be outstanding, but two towns over, they’re awful.
Some financial experts consider private school tuition a bargain for those living in poorer school districts.
Those living in more affluent districts have access to better public schools. But, parents still have to contend with a government-run, faulty system.
Your school is worth the investment for everyone. The trick is adapting your message so that it appeals to the practical, investor side of parents.
It is your job to make sure that you hone in on exactly what parents want and then overdeliver.
Six Ways to Ensure you Provide Parents the ROI that Keeps them Investing
1. Focus on character development.
Private schools stand for values and a central belief system. Showcase that your school nurtures and produces hard-working, driven and conscientious students.
- Highlight your character education program through your social media channels.
- Give out awards for improvement and dedication.
“Reward students for showing grit and determination. This shows that you are working to develop good character in all students.”
2. Reinforce the fact that you are exposing their child to a solid value system.
At your school, a common value system surrounds every child. Parents know that the school staff, teachers, and the other students share and support the same beliefs.
Make sure you include your core values in all communications.
“School voicemail, email signatures, websites and social media posts should remind parents what you believe.”
Consistent communication reassures them that these values are being embedded in their children.
3. Provide parents with peace of mind.
You are the stewards of a parent’s most precious commodity. You must offer one thing most public schools cannot—peace of mind.
Your parents want to know their child is in a warm, safe and nurturing environment. They want to know their kids are receiving healthy meals and adequate attention, while being intellectually challenged.
- Make sure you brag about your state-of-the-art facility.
- Post about your nutritious lunch and snack menus.
- Showcase photos of athletic competitions and fun school events that promote the emotional and physical safety of every child.
4. Articulate the benefits of your smaller class sizes.
The benefits of smaller class sizes are one of the most researched and well-known perks of private education. But it still needs articulating.
- Inform parents their child’s teachers can better assess and catch gaps in student learning because of smaller classes for them.
“Reassure them you provide tailored classroom instruction to suit their child’s unique needs.”
5. Promote your exclusive facilities and resources.
Private schools, in general, have more upscale and better-kept facilities. They also have more resources and can offer more opportunities for student engagement.
Here’s where you want to brag.
- Talk about your sanitary bathrooms equipped with automatic toilets, sinks and hand dryers.
- Discuss the technology that is in each classroom and available to every child.
- Take pictures and show them where their child will be spending time.
“Showing – not telling – is important here.”
6. Remind parents Private schools produce better outcomes.
Research shows that students in private school test better than their public-school counterparts. Private schools walk students through the entire process end-to-end.
- Highlight your programs dedicated to raising student achievement.
“Emphasize things like after–school enrichment programs, reading and math specialists, and test tutors.”
Anything you do outside of the norm is what you want to ensure parents see. Show them where their money is going, and if parents like what they see, they will be happy to invest further.
As a private school, you are competing for a place in the family budget. You are competing with retirement savings, college funds, and other long-term investments.
You must prove that a private education at your institution is worth every dollar spent.
In fact, you have to show that the ROI is so good that the dividends are never-ending.