“Should we freeze our ad budgets?”
Here is why private schools should not.
But is it a bull or bear market for independent schools?
My crystal ball is not that good. I do think private schools can benefit greatly by watching the business world.
The 2020–2021 school year could actually be a huge year for independent school admissions. Some families may be experiencing financial stress, so financial assistance is critical. This is an excellent time to plan for an aggressive but temporary restructuring of the school’s financial aid targets.
Parents are not happy with public schools and their handling of the pandemic. My crystal ball says that a number of parents who had not previously been interested in a private school will be moving to one this fall.
Maintaining a strong ad presence will be key to winning this coveted and newly-receptive demographic. I wrote about these families a few weeks ago in The Advancement Antivirus.
Key takeaway: If an independent school is in the position to maintain its advertising budget, indicators are supportive that it will pay off.