Listen to Mike and Strategic Partner Thom Greenlaw talk about Finance and Marketing: Overlooked Alliance for Success on the InspirED School Marketers’ SparkCast.
Read Mike’s blog post, Finance and Marketing: Joined at the Hip, which inspired the podcast episode.
Financial Services
To execute against any marketing or strategic plan and to ensure that the mission meets — and influences — the market, a school’s financial standing and infrastructure must be considered. In combining our market research with a financial review and benchmarking study, the critical balance of value and price becomes clear. Services include:
Tuition Elasticity & Strategic Financial Analysis
Strategic Financial Planning and Modeling
Compensation and Benefits Studies
We will discuss and advise on the philosophy of aid, tuition acceleration, tuition deceleration, right-sizing, budget scenarios, and/or discounting. This is essential in order to balance the budget and maintain financial stability and a reliable revenue stream. This addresses questions such as:
What size can our School reasonably sustain and accommodate?
How does our financial and operational infrastructure compare to other analogous schools?
What is the appropriate tuition range given our school size and infrastructure? Should we change our current tuition rates and planned increases?
What financial and operational levers should we prioritize for strategic planning?
Are there items in the budget which can be consolidated to provide budget relief? What restructuring is possible, including increased marketing and financial aid budgets?
The Trustees and Leadership at the School use the critical information from this work to strategically plan and prioritize the next level of success for the school.