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4 Ways Branding Impacts a Charter School's Bottom Line



Branding. You’re either one of the few charter schools doing it right, or you revere it as some mythical marketing tactic that you’ve never quite been able to master. If you fall into the latter category, it’s time to stop procrastinating and hop on the branding bandwagon. The fact of the matter is that your parents and students have a lifecycle at your school, but brands have staying power in the community.


Multiple studies have shown that brand recognition is a common denominator in parent and student decisions, especially when it’s a school they’re unfamiliar with. Couple that with the fact that many families are choosing to do virtual learning and there are more charter schools opening every year and you have a very strong case for building brand awareness.


In case you’re still not convinced, here are four clear ways branding impacts your school's bottom line.


1. Decrease HR Operational Costs

Branding impacts your ability to attract and retain top-tier teachers.


It’s no secret that great teachers can help cultivate growth in your school. Attracting the right team can mean the difference between exceeding your enrollment numbers or falling short.


Today’s teachers have more knowledge, information, and power at their fingertips than ever before. With so many options, it’s important that your brand is able to cut through the noise and catch the attention of top-tier teachers before another school does. The school's culture has become a buzzword for a reason. Teachers aren’t just looking for a paycheck anymore; educators want to work for school brands that share similar values and visions.


2. Increased Fundraising Dollars

Branding increases parent loyalty.


Attracting new parents and students by implementing solid branding guidelines is important. But equally as important, if not more important, is retaining existing parents who are loyal to your school. In fact, 70% of businesses state that it’s cheaper to retain an existing parent than attract a new one. Why would it be any different for schools?


Branding done right not only helps you keep parents, but also turns parents into loyal, raving fans. The fact of the matter is, your existing parents can be your biggest untapped asset when it comes to increasing fundraising dollars, and also reaching potential new community business partners and other parents. So, it stands to reason that you need to stay at the forefront of their minds to reap the benefits.


3. Maximize Enrollment Funds

Branding expands your geographic pool of students.


For the most part, your students are going to come from the surrounding neighborhoods. However, parents are willing to travel further for recognized school brands. Despite having a school right across the street, parents are willing to sacrifice time and comfort for their child's education. Parents do this for high-class private schools, why wouldn't they do it for your charter school?


4. Decrease Marketing Costs

The right branding strategy leads to an increased market share by focusing on word of mouth.


If you’re one of the lucky schools that were the first charter school in your area, then you have a distinct advantage over the existing public schools. Also, being first in your market increases the barrier to entry for competitors who come after you.


The good news is that even if you’re not the first or only charter school in your, you can still capture an increased market share by focusing on branding. You’ll have to be more aggressive in your approach, but you can become a brand that your target market takes into consideration if you focus on brand recognition and help them remember your name.


Bottom Line: Branding = Increased Visibility and Profits


To state the obvious, you can’t build your charter school's brand awareness without first creating a branding strategy that reflects your school's values, missions, and vision. In order to create the brand recognition and credibility you need to improve your bottom line, you must first identify your target market and expose them to your school via multiple channels.


Evaluating the messages your logo, website, and branding guidelines send to your target audience is a good place to start. Once you’ve got those nailed down, it’s time to pinpoint the best channels for getting your brand in front of your target market. The good news is, with the accessibility provided by an always-on internet, it’s easier than ever to figure out where your target audience hangs out and how to get in front of them.



 

Educational Brands guides schools with a wide range of brand strategy and marketing communication challenges. Partnering alongside charter management organizations and their networks, we work closely with school principals and their staff to provide expert insight and practical day-to-day guidance to ensure they develop achievable plans, stay on track and achieve their strategic goals.



To schedule a discovery call, click here.

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