So, What Makes You Different?
Whenever we conduct a higher ed marketing assessment, we find ourselves asking one question over and over:
“What makes you different?”
For a marketing professional, it’s a question they’ve had to answer in a variety of contexts. As a result, the question always creates enlightening conversation. Not just for us, but for the institution’s team members as well. Most schools don’t have a definitive answer. Many point to the mission statement. Others begin to answer the question, but realize that difference might not be valuable to their audience.
A few schools absolutely nail the answer. They know their unique value proposition (UVP), the thing that makes them different and valuable in the eyes of their target market. So, how did they come up with such a perfect response to a difficult question—and how can you do the same?
Why Does a UVP Matter?
This question seems obvious at the surface level, but upon further examination, a distinct UVP is more important than ever. The amount of college students nationwide is projected to drop 15% after the year 2025. (Source) Further, the conversation about higher education debt has entered the national conversation and is a hot-button political issue. The average student owes more than $37,000 in student loans and with one in four Americans taking on debt, the national total is a staggering $1.53 billion in higher education debt. (Source) Considering this, your UVP could be the difference between securing a commitment from a student or losing them to a competitor.
When looking at the higher education landscape moving forward, standing out will be more important than ever. Developing a unique value proposition will be a necessity.
How to Find Your UVP
We’ve established the importance of a UVP, but how does an institution actually establish one that resonates with their audience? It is important to consider how your UVP actually provides value to your students. Many of the things that faculty and staff offer when discussing value might be unique to your institution, but do not cross the minds of potential students. “Uniqueness” alone isn’t enough.
Furthermore, you have to consider how your UVP plays within your competitive set, on a local stage, and when viewed from a national perspective. The things that matter to a student who grew up down the road from your campus can vary wildly from the factors that a transplant from across the country considers when choosing a school.
When determining your UVP, consider how it changes depending on which stakeholder is answering the question. The president of the university will find different value propositions than an economics professor, a member of the marketing team, or a student.
Where to Begin?
For an institution that doesn’t have a clear UVP or isn’t sure how to best highlight their existing value propositions, here are some questions to ask to get the process started.
What are we known for? Why do students choose us? Ask prospects, current students, alum or other stakeholders. This can provide a quick positioning platform.
What do we want to be known for? If you’re currently known for something that doesn’t offer much marketing value, seek out something valuable that you do well (or could do well) that people don’t know about.
Among our core competitors, how are we different? Are you the most affordable, the most academically rigorous, or do you have the best outcomes? This should inform your positioning when you are marketing to or communicating with prospects
What does our target student truly want? What are they looking for? Is there any natural alignment between what’s important to the customer and what we do well?
Putting the Value in UVP
Once you’ve gone through the UVP journey, how can you get the most value out of your value proposition? First and foremost, communicate the UVP internally (both vertically and horizontally) to get buy-in throughout the institution. Getting every member of the organization on board with your UVP (not just in principle, but in practice) is necessary if you want those outside the institution to see the value.
On that same note, incorporate your UVP in messaging and positioning. Marketing materials should outline why the UVP will improve the students’ experience at your school. The more distinct your UVP is, the easier it will be for potential students to understand why attending your university is the right choice. Once you’ve begun advertising your UVP, adoption within the institution becomes even more important. Students who choose your school based on your UVP will be disappointed if they move in during the fall and realize they were duped.
Remember, the higher education landscape is ever-changing. The unique value proposition that served your institution well a decade ago might be in need of a tune-up heading into this next year.