The Covid-19 pandemic has thrown educational institutions into a remote learning experiment with unprecedented and long-lasting impacts:
- Online and hybrid models are likely to become a fixture of school offerings for their daily use as well as a guarantee for continuity of service in times of crisis.
- The adoption of these models is tricky and can have negative impacts on perceived value and enrollment, consequently requiring a marketing strategy overhaul (e.g. pricing).
- International student enrollment, a vital revenue source for many schools, is likely to drop as international mobility is durably impacted.
These challenges happen in the face of pre-existing disruptions that are likely to accelerate in the new context:
- Questioning of the value of a degree and misalignment with in-demand skills
- Rapid growth of continuing education and corporate training to meet re-/up-skilling needs (digital skills notably)
- Unbundling of traditionally integrated offering with market adoption of new online formats (OPM, MOOCs)
- Vertically focused new entrants capturing entire disciplines (e.g. coding bootcamps)
- Disruptive technologies/ teaching models (e.g. competency-based education, adaptive learning, Augmented Reality), and new credentials (e.g. micro-credits and stackables)
A number of initiatives enable a bold strategic response:
- Create a new pedagogical vision for the 21st century: online learning as a superior pedagogical experience, integration of best practices from emerging models (mobile), etc.
- Reimagine institutional value proposition for a post-pandemic world (e.g. flexible delivery modes, differentiated pricing, hybrid on/off-campus experience integrations, virtual experiential learning, digital employability)
- Revisit institutional business model: real-estate cost impact, facilities optimization, student support, etc.
- Evaluate and prioritize investments and CAPEX: digital classrooms, IT equipment, etc.
- Design a smart technological roadmap to achieve key financial and operational goals (e.g. adaptive learning as a retention tool, AI for operational and real-estate optimization and teaching load reduction)
- Redesign digital marketing strategy to maximize enrollments, use machine-learning-based predictive analytics and big data, and deploy marketing budget in the most efficient and effective channels
- Achieve academic and employability integration through ambitious partnership models (connect learning outcomes and market expected skills through collaborations with employers)
19 May 2020
INUO Strategic Impact has the methodology, sector experience and the senior experts to support you in these endeavors, in France and globally
Full Potential Impact: definition and implementation of institution/network-wide strategy, including international development (partnerships, branch campus), acquisition and build-up, innovation and redefinition of business models, adjacency and digital growth, disposal of non-strategic assets.
100-360! Full Efficiency Impact: 100 days to diagnose and deliver EBITDA-positive operational results, enabling the financing of a Full Potential Impact transformation program, whose monetizable results obtained after 360 days are characterized by ROIs of the order of 3 to 5.