Despite what many people think, the fastest way to grow enrollment isn’t to launch new programs.
Why?
Because increasing your offerings will often decrease the effectiveness of your marketing.
Let me explain…
Too often when we launch new programs we do so without closing old ones.
When we do, we decrease our spend per program (marketing $ / total programs) and frequently inadvertently increase the percent of spend allocated to program-specific marketing.
Since program-specific marketing is inefficient (compared to Area of Study and Brand), every new program we launch will decrease the overall ROI of our marketing.
Meaning…
The more new programs you launch, the slower you grow
There are exceptions to every rule, of course.
If you actually do close poor performing programs and allocate incremental, unrestricted funds to support new program growth (which can be applied to the program’s area of study not just the program itself) there is a path where new programs can drive new growth.
But, more often than not, what we see in our industry is that…
Increasing our offerings will often decrease the effectiveness of our marketing
So before you rush out and launch those new programs, remember that if you’re not careful…
The more new programs you launch, the slower you grow
About the Author
Seth is the founder and CEO of Kanahoma, a San Diego-based performance marketing agency on a mission to build a better agency for organizations building a better world.
You can learn more about who we are and what we do at www.Kanahoma.com.