Last week MCH Monitor™ Service tracked 33,190 educators joining school payrolls across the US, bringing the total tracked to 218,339 since the July1 start of the school year. We predict that by October 31, that we will see 326,000+ educators new to school. Because MCH Monitor™ Service tracks a majority of schools, we can safely predict that 10% of ediucators will be new to their school by October. We also predict the school year will close with a 15% market churn.
With 15% market turnover, what questions should every education marketer ask?
- Does my marketing data strategy enable me to capture this new personnel in a timely manner?
- How much of my budget is affected by this level of churn and what can I do to reduce waste?
- What marketing advantage would I gain from having the most current, complete, and accurate data?
To answer those questions, start at your data source.
Periodic vs. Real Time data compilation – a major difference
Commonly, market data comes from “periodic” data compilers that use the classic process of updating their files. Each month they make additions and deletions, based on whatever data their compilation process has captured, and upload them to their database. However, that update can often represent a fraction of the actual change in the marketplace. That creates a catch-22 where data quality becomes the loser.
To offer data that accurately represents the market, a periodic compiler must wait until late in the school year to release their file. However, marketers need data now to capitalize on the start of the school year. That forces periodic compilers to pull the trigger early and leave out a significant number of new arrivals.
As with other marketing technology, we are witnessing revolutionary change with data compilation. Today it’s possible to compile data on 64,000 schools each month, essentially developing a complete refresh of the market in real time. MCH has pioneered real time compilation in the education industry, combining unique proprietary MCH Monitor™ technology and 80 years of market expertise. Of course no technology can grab 100% of the market. That is where we rely on our seasoned US-based research team. The result? MCH data is ranked Best-in-Class – #1 for Accuracy, #1 for Freshness, and #1 for Reach.
Interested in learning about the MCH Monitor difference? Call an MCH Data Expert today 800-776-6373