As of mid-October, MCH Monitor™ technology had tracked 12,958 educators joining school payrolls across the US, bringing the total tracked to 299,541 since the July 1 start of the school year. The accuracy of our weekly predictions is uncanny.
Therefore we can safely accept the following as a very high probability:
10% of the marketplace will churn by October 30 of this year
15% of the marketplace will churn by end of school year, June 30, 2016
Why is this important? A marketing program that does not take this significant churn into account could be at risk. Without a data strategy to quickly capture and capitalize on shifts in the school market, 10% to 15% of potential sales may be missed and a significant portion of your budget may be committed to chasing opportunity that is no longer there.
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?
Does “monthly data updates” mean fresh school data? Sometimes. Learn the difference between Periodic and Real Time data compilation
Most commonly, market data comes from “periodic” data compilers who make additions and deletions to their files, based on whatever data their compilation process has captured. They call that a monthly update. However, that update can often represent a fraction of the actual change in the marketplace. For school marketers, that creates a catch-22.
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 at the start of the school year to capitalize on the back-to-school season. Therefore periodic compilers are forced to pull the trigger early and leave out a significant number of new arrivals. It is impossible for their updates to capture the full shift of the market. With a 10% shift in the first few months, that can have a major impact.
Fortunately, some are benefiting from a revolutionary change in the way school data is compiled. Today it’s possible to compile data on the majority of schools each month. In the world of compilation, that is real time. That means school marketers can have access to a complete refresh of the market as the market goes through major shifts. The benefit?
- First-mover’s advantage, by beating your competition to the doorstep
- Less competition vying for attention from 10% to 15% of the audience
How do you know if your data source is a Periodic or Real Time data compiler? Ask your provider how much of their file they compile (not update) each month.
MCH pioneered real time school data compilation in the education industry. We combine a unique proprietary MCH Monitor™ technology with 80 years of market expertise. The data our technology does not capture is collected by our US-based research team located in central Missouri. The result? MCH data is ranked Best-in-Class: #1 for Accuracy. #1 for Freshness. #1 for Reach.
Interested in learning about real time data compilation and the MCH Monitor™ difference? Call an MCH Data Expert today 800-776-6373