Education InnovationExcelling in the business of education by embracing innovation
Our traditional education system is struggling to keep up with how our world is changing. From disruption in traditional learning models to innovation in business and commercial models, the education system, and our educators, are in prime position to embrace innovation in all of its forms to provide the best possible experience for their young learners, while at the same time creating strategic differentiation in a crowded marketplace.
Schools are competing for enrollments in a shifting marketplace.
There are some schools that will always have long waiting lists, or who never need to compete for enrolments. Perhaps they have a reputation for brilliance, or perhaps they are in a location that funnels families to their door. In any case, these schools are able to set enrolment quotas based on campus capacity and meet them, year after year.
The majority of schools, however, are competing in a commoditised marketplace for enrolments. While state and private schools obviously differ, what matters to each individual school (in terms of the kind of family they want to attract) are as varied as varieties of cheese.
As most schools know, competing for enrolments is not as simple as rolling out an annual marketing campaign. Understanding who a school’s target market is, how to find and attract them and and what influences their decision making process, is as important as understanding how the business model that supports the school influences that decision, and how changes to the underlying commercial and business model might change the perception of their target market.
Important questions must be answered, such as:
- How do schools attract students and ensure they are equipped for the new world economy?
- To what extent does the school want to value or build their reputation in academics, sports and the arts?
- How does a school want to portray and devolve the overall experience and personal growth journey of students at their school?
- Is a school offering education as a service or as a product?
- For schools with limited budgets (and so perhaps with older facilities or equipment), what can they do to create the biggest return on investment to attract the families within their target sector?
Coriolis Innovation looks at the education sector differently: we focus on the business of education. We innovate around your entire school environment, coming up with unexpected solutions that bring you fast returns, whatever your objectives.