Social Media University

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    Social Media Marketing for

    Business Schools?Erin M. Wiles

    Marketing Professional

    www.ErinWiles.com

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    Social Media marketing is becoming moreimportant to business of all industries every day.

    This presentation speaks specifically to

    Universities and Graduate Business Schools.

    My goal is to convince my audience of theimportance of Social Media marketing in

    attracting prospective graduate students andexplain how it can be used to gain (or keep) acompetitive advantage over other Universities.

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    Social Media Defined:

    Activities, practices and behaviors among

    communities of people who gather online toshare information, knowledge, and opinionsusing conversational media.

    Safko, L., & Brake, D. (2009) - The Social Media Bible

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    Social Media transfers informationthrough:

    Safko, L., & Brake, D. (2009) - The Social Media Bible

    Content (i.e. blogs or micro blogs such as Twitter)

    Photos (i.e. photo sharing sites such as Flickr or Facebook)

    Online videos (i.e. YouTube)

    Audios (i.e. iTunes Podcasts)

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    If youve ever used your computer or cellphone to read a blog, watch a YouTube video,listen to a podcast, or send a text message toother members of your group...then you haveused social media.

    Safko, L., & Brake, D. (2009) - The Social Media Bible

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    So, Why Use Social Media to Help

    Business Schools Recruit MoreStudents?

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    Point I

    The MBA Market is Growing

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    GMAC Applications

    Trend Survey 2009

    Graduate schools are experiencing

    an influx of applications from

    potential students

    In one year, application volume

    significantly increased in 3 of the 5MBA program types:

    Full-time 1-year MBA programs

    ( 21%)

    Flexible MBA programs ( 14%)

    Part-time MBA programs ( 7%)

    Murray, M., (2009) - 2009 GMAC Application Trend Summary

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    Point I Summary

    If your market is growing, its

    time to increase your efforts to

    capture more share!

    The bigger your share the moregraduate student applications

    are submitted

    The more applications

    submitted, the more selectiveyour program can be

    The more selective your

    program, the higher your

    University reputation is

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    Point II

    Social Media Marketingis Highly Valued

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    School websites had greater

    influence over prospective students

    decisions about which school to

    apply than published rankings.

    2009 MBA.com

    Registrants Survey

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    One Year Later...

    2010 MBA.com

    Registrants Survey

    The main sources consulted by

    potential students in selecting a

    graduate school

    1. Schools website

    2. School-related websites*

    3. Schools published rankings

    Schoenfeld, G., (2010) - 2010 MBA.com Registrants Survey

    *New Figure in 2010 report

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    School websites and school

    related websites have a greater

    influence than published rankings

    2010 MBA.com

    Registrants Survey

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    Point II Summary

    One contributing factor to the highwebsite statistics is the fact that they

    detail vital program information such

    as tuition, course descriptions, etc.

    However, the website can act as atrunk that branches out to

    supplementary websites, videos, or

    social networks that can further

    enlighten and convince a potential

    student to apply

    If 97% of students are visiting yourUniversitys website, it would be in

    your best interest to use and showcase

    all social media marketing efforts to

    persuade and recruit potential students

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    Point III

    Traditional Marketing Effortsare Not as Effective

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    Traditional

    Marketing Efforts

    Television

    Radio

    Newspaper

    Magazines

    Direct Mail

    Online Advertisements

    Schoenfeld, G., (2010) - 2010 MBA.com Registrants Survey

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    Traditional advertisements had(at best) a somewhat

    influential effect on influencinga prospective student to apply

    2009 MBA.com

    Registrants Survey

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    School websites and school related

    websites have a greater influence

    than traditional school publications

    and school related publications

    2010 MBA.com

    Registrants Survey

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    Point IV

    Your Students Want Social Mediaand Will Share It

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    Student communities arekey drivers of overall

    student satisfaction with

    an MBA school culture

    Schoenfeld, G., (2008)

    2008 GMAC Data-to-Go Series

    Impact of School Culture: Part-Time

    MBA Programs

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    Satisfaction with school culture

    correlates with assessment of

    overall program value

    Schoenfeld, G., (2008)

    2008 GMAC Data-to-Go Series

    Impact of School Culture: Part-Time

    MBA Programs

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    Satisfaction with school culturealso correlates with whether a

    student would recommend their

    school to others seeking a

    graduate business education

    Schoenfeld, G., (2008)

    2008 GMAC Data-to-Go Series

    Impact of School Culture: Part-Time

    MBA Programs

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    Point IV Summary

    Social Mediums such as

    Facebook, Twitter, and

    Linkedin foster virtual

    communities

    If current students want to have

    a close-knit community, then

    Universities should foster that

    both inside and outside the

    classroom

    Virtual communities through

    Social Media will contribute to

    a better student experience and

    lead to future prospective

    student referrals

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    Point V

    Your Competition is Doing It

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    GMAC Applications

    Trend Survey 2009

    Nearly one-fifth of the average

    recruitment budget (19%) for

    graduate management schools

    was allocated to electronic

    marketing outreach:

    email campaigns

    online chats

    instant messaging (IM)

    social networking sites

    website enhancements

    Murray, M., (2009) - 2009 GMAC Application Trend Summary

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    GMAC: New Media

    Come to Business School

    The Fuqua School of Business

    at Duke has a You Tube and

    iTunes Channel

    The Mays School of Businessat Texas A&M is on Facebook

    and shares videos, news, and

    reports from students abroad

    The Paul Merage School of

    Business at University of

    California-Irvine uses a Twitter

    feed to reach prospective

    MBAs

    New Media Come to Business School (2009, March)

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    Point V Summary

    Budgets are quickly

    being allocated by

    competing Universities

    to invest in Social Mediaoutlets

    85% of Universities are

    using some form of

    Social Media

    These efforts are

    producing results

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    Point VI

    Your Competition is Doing It Well...VERYWell

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    Top 50 Universities Using Social

    Media successfully From private to public, large

    scale to small scale Universities

    Given Gold, Silver, or Bronze

    rankings

    Published Social Media

    Rankings from

    CollegeSurfing.com

    CollegeBound Network Editorial Staff (2010, February 10)

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    Mashable! Social

    Media Recognition

    University of Phoenix has created

    a virtual recruitment location on

    YouTube with hundreds of videos

    that emotionally connect with

    each type of targeted student

    Emory University is engaging,

    fund raising, and connecting

    students with alumni through

    social media

    Stanford University showcases

    their faculty and students

    projects or achievements

    throughout their social media

    outlets

    Reinhard, C., (June 2009). Lavrusik, V., (July 2009). Lavrusik, V., (July 2009).

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    Point VI Summary

    Experts in Social Media

    are noticing and

    applauding the efforts of

    savvy Universities

    These Social Media

    efforts are aggressive and

    are reaping huge rewards

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    Point VII

    Your Future Target MarketWill Expect It

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    BusinessWeek:

    Gen Y is at the Door

    Trying to understand the mind-set ofthe potential Gen Y MBAs

    Increasing the use of technology inthe classroom

    Embracing social media such asFacebook, blogs, and Twitter

    Symonds, M.,(January 2010) - Business Schools Beware: Gen Y isatthe Door

    (Gen Ys) don't just use the new

    technology that has revolutionized

    business over the past decade

    they eat, sleep and breathe it.

    University Business Schools:

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    Conclusion

    Universities need to enter into the social media world in

    order to:

    Recruit more potential students (of all generations)

    Provide more service and value to their currentstudents

    Stay competitive with other Universities

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    Social Media Marketing for

    Business Schools?Erin M. Wiles

    Marketing Professional

    MBA (Expected May 2010)

    [email protected]

    Twitter @emwiles

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    References

    Barnes, N. & Mattson, E., (2008). Social Media and College Admissions: The First Longitudinal Study. University of Massachusetts Dartmouth Center for MarketingResearch. Retrieved from http://www.umassd.edu/cmr/studiesresearch/mediaandadmissions.pdf

    Burnes, R. (2010, February 16). Survey: Inbound Marketing Cost Per Lead Is 60% Lower Than Outbound. Message posted to http://blog.hubspot.com. Retrievedfrom http://blog.hubspot.com/blog/tabid/6307/bid/5587/Survey-Inbound-Marketing-Cost-Per-Lead-Is-60-Lower-Than-Outbound.aspx

    CollegeBound Network Editorial Staff (2010, February 10). The Web 2.0 College Olympics. Message posted to http://www.collegesurfing.com. Retrieved from http://www.collegesurfing.com/content/web-20-colleges/

    Lavrusik, V., (July 2009). 10 Ways Universities Are Engaging Alumni Using Social Media. Retrieved from http://mashable.com/2009/07/23/alumni-social-media/

    Lavrusik, V., (July 2009). 10 Ways Universities Share Information Using Social Media. Retrieved from http://mashable.com/2009/07/15/social-media-public-affairs/

    Murray, M., (2009). 2009 Applications Trend Survey. Graduate Management Admission Council. Retrieved from http://www.gmac.com/NR/rdonlyres/32D2B92A-776F-4DFA-9903-C251B1B7862D/0/2009AT_SR_Web.pdf

    New Media Come to Business School(2009, March). Graduate Management News. Retrieved from http://www.gmac.com/gmac/NewsandEvents/GMNews/2009/Mar/Bschool_NewMedia.htm

    Reinhard, C., (June 2009). YouTube Brands: 5 Outstanding Leaders in YouTube Marketing. Retrieved from http://mashable.com/2009/06/01/youtube-brands/

    Safko, L., & Brake, D. (2009) The Social Media Bible: Tactics, Tools, and Strategies for Business Success. New Jersey: John Wiley & Sons, Inc.

    Schoenfeld, G., (2009). 2009 mba.com Registrants Survey. Graduate Management Admission Council. Retrieved from http://www.gmac.com/NR/rdonlyres/99B4D1C3-4347-4F12-969C-0D9DB1E5481F/0/RegistrantsSurvey2009SR.pdf

    Schoenfeld, G., (2010). 2010 mba.com Registrants Survey. Graduate Management Admission Council. Retrieved from http://www.gmac.com/NR/rdonlyres/B363A4D7-E477-41D1-B2B1-4F72B49AA668/0/mbacomRegistrants_2010Survey.pdf

    Schoenfeld, G., (2008), Impact of School Culture: Part-Time MBA Programs. Graduate Management Admission Council. Retrieved from http://www.gmac.com/NR/rdonlyres/E0E72085-ABBB-474D-83C0-55AC86D038F3/0/PTMBA_SchoolCulture2008.pdf

    Symonds, M., (January 2010). Business Schools Beware: Gen Y is at the Door. Retrieved from http://www.businessweek.com/bschools/content/jan2010/bs20100121_624849.htm