Parent's Perceived Value
Author: Neil Frutuoso
Imagine if parents could be flies-on-the-wall on campuses across the country to truly understand the value — or lack thereof — of the degree many of them are paying for. Well, that’s exactly what’s happening in homes with college-aged kids. It’s the peek-under-the-hood colleges and universities weren’t prepared for, because the value of a college degree can no longer hide behind gorgeous quads, student centers, athletic teams, and marketing materials.
Since the pandemic, traditional students across the country have been forced to take online classes from home instead of heading to campus and reporting back to their parents on how “difficult” their day was. Instead, many of them are sharing living and working spaces with their families, granting parents an unobstructed view of their learning experience.
A parents’ perceived value (PPV) of an undergraduate degree can be broken down into three variables: curriculum, credentials, and most importantly, experience. With increased transparency into the curriculum and the lack of the traditional college experience, parents’ perceived value, and their willingness to invest in higher education, is on the decline.
How will your institution replace the value of the “college experience,” especially within traditional student populations? Every touchpoint from the initial request for information through graduation just became more valuable and critical for future success. It’s time to roll out the red carpet and put on the white gloves to ensure you deliver a memorable experience beyond the lead nurture process. Here are some questions to ask yourself in order to get started:
How can you improve your current process, messaging, and product to fill the experience value gap?
How can you make every student feel just as important as they did before they applied – after they enroll?
What can you do to ensure your institution ends up on the shortlist for the next highschool graduate in the household?
How can you make parents and students feel comfortable that your institution will survive the post-pandemic economy?