15% of the school market will churn this year.
Why miss 15% of potential sales — or waste your budget chasing opportunities no longer there?
Fifteen percent is significant churn, and a marketing program that doesn’t take it into account could be at risk. Without a data strategy that quickly captures this market shift, 10–15% of potential sales may be missed, and a portion of your budget spent chasing opportunity that’s 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 possible?
The best data strategy starts with
your data source.
Do “monthly data updates” mean fresh school data? Sometimes. It helps to know the difference between periodic and real time data compilation.
Most market data comes from periodic data compilers, who make limited additions and deletions to their files as their process captures data. They call it a “monthly update,” but it often represents a fraction of the actual change in the marketplace.
What does that mean for school marketers?
To offer data that accurately represents the market, periodic compilers must wait until late in the school year to release their file. But marketers need data at the start of the school year to capitalize on the back-to-school season, forcing periodic compilers to pull the trigger early and miss a significant number of new arrivals. It’s simply impossible to capture the full shift of the market this way. A 10% shift in the first few months can have a major impact.
Fortunately, some are already benefiting from a revolutionary change in the way school data is compiled.
Today, it’s possible to compile data on the majority of schools every month. In the world of compilation, that’s effectively real time. That means school marketers are able to access a complete refresh of the market as major shifts occur.
- 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 compiler?
Ask them how much of their file is compiled — as opposed to updated — 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.