There are currently 500 million students pursuing studies outside their home countries…
…Continued growth is expected but within a highly complex marketplace.
The HEI marketplace has grown in both competition and complexity, with more institutions vying for the largely stagnant traditional segments. Markets in Asia have emerged as new battlegrounds due to growing economies and the popularity of foreign degrees there. These markets are by no means new frontiers, however, as some institutions may have already established presence, if not dominance, there.
Whilst traditional channels and agents may have delivered student numbers to your satisfaction in the past, you may see enrollment figures plateau, if not decline, due to increasing competition.
BE EARLY
Market to students and engage parents at the earliest opportunity.
BUILD COMMUNITIES
Focus on building Alumni networks and communities in priority countries.
ENHANCE RECRUITMENT
Deploy a sound recruitment campaign tailored to the target country.
The competitiveness of UK universities has been affected by austerity.
Budgetary cuts for universities appear to have become increasingly widespread as a policy choice, with governments of the USA, the UK, and even Denmark opting to reduce funding. This, coupled with the lower enrollment numbers, have seen brick-and-mortar universities severely hit on multiple fronts.
In response, universities and institutions are pursuing the reinvention of their offerings with new relevant courses, coupled with the upgrading of their facilities and infrastructure to enhance the student experience whilst hoping to outplay their competitors. This approach, however, requires considerable planning, financial and non-monetary resources, as well as adequate time for execution.
In the interim, universities and institutions can turn to growing markets in Asia to increase their enrollment levels. This region offers sizeable potential for growth, with some markets offering low barriers to entry and lower cost levels to those willing to get creative.
ENHANCE RECRUITMENT
Place a sound recruitment campaign tailored to the target country.
BUILD PARTNERSHIPS
Set up strategic partnerships with local conglomerates to train employees under executive development programmes.
DIVERSIFY REVENUE
Deliver professional, leadership or executive courses to supplement income from mainstream courses.
