Universities have become masters of the sales pitch04.04.2017
A while back Tom Pick sat in on a number of universities' "sales pitches" to prospective students and their families. As he listened, he began to draw parallels with B2B sales.
"One advantage that university marketers have over most of their B2B counterparts in optimizing their programmes is scale," he notes in a recent post at Webbiquity. Colleges can "fine-tune their messages ... based on thousands of interactions each year," he explains.
Ease sticker shock - Needless to say, universities have become masters at presenting cost breakdowns to families as tuitions soar. To ease pricing pain, try offering:
- Product or service modules that customers can buy in affordable pieces.
- A la carte products and services. Let customers choose what fits them best.
- Bundles. Offer different levels of "product/service bundles, e.g., Basic, Premium, and Enterprise," Pick suggests. Discounts. Offer discounts based on factors like purchase volume or pre-payment.
- Payment options. Let prospects choose to rent vs. buy, pay a monthly fee, or work out a long-term payment plan.