Does your school have a plan for next year’s marketing budget? Before you begin any marketing spending, it’s important to plan efficiently to secure healthy spending across the whole budget cycle. Let’s get organized together:
1. Big Expenses
When your marketing budget resets, it’s time to think about the biggest expenses your school should be spending funds on this coming fiscal year. Big expensive projects that your school board may have been pushing off for the last few budget cycles are eventually going to become a top priority. The goal of annual budget planning is to avoid these expensive projects becoming mid-year emergencies. If you’re unsure if you need to invest in big expenses like a new website or updated view book, ask yourself the following questions:
- How old is your website?
- Is your view book outdated with old information?
- Do you need to restock your admissions marketing swag?
- Are you looking to wow accepted students?
For most schools, big expenses need approval from your Board of Trustees. In order to present the needs appropriately, your marketing team needs to come prepared with solutions to these needs. If you’re looking for a new website provider, start your research by asking the right questions. If you’re looking to update your view book, look for an innovative partner who will do more than just a trendy design.
2. Specialty Projects
Is your school celebrating a special anniversary? Honoring a retiring faculty member? Hunting for your next head of school? Specialty campaigns can eat up a surprising amount of your school’s annual marketing budget. They might require unique print materials, video production, photography or even additional staff resources. Consider all your upcoming campaigns as an opportunity to grow your school’s brand and engage with your active school community. Keeping your school’s community engaged increases annual fundraising and improves retention rates. Make a list of all upcoming specialty campaigns that might require some additional funds. From that list, prioritize based on deadlines and revenue impact. This way, your marketing team can pace the budget accordingly throughout the upcoming academic year.
3. Design & Print Needs
The summer is the perfect time to review and update all your print – and even digital – materials. Outside of new and specialty needs, design and print costs could be updating old admissions materials, reordering items low in stock or creating all new pieces for a new marketing strategy. Some design needs to consider include:
- View Books
- Curriculum & Program One Pagers
- Admissions Postcards
- Inquiry Cards
- Acceptance Packages
- Business Cards
- Folders
- School Fair Signs
4. Fundraising & Capital Campaigns
Even though it’s the very beginning of the new fiscal year, it’s never too early to start planning fundraising efforts for the year. Whether you are running a specialized capital campaign, or just looking to increase the annual fundraising, your marketing budget should set aside a portion of your annual budget for the Development Office. Oftentimes, it can feel like departments are competing for their fair share of the budget. Meeting regularly between admissions, marketing and development will ensure all department goals are aligned and budgets are strategically split.
5. Campus Events
Once the school year starts, on campus event planning can easily fall behind and become last minute stress for your team. Get a jump start this summer by building an events calendar for the whole school year. Each event might have unique needs such as invitations or banners. Printing costs are much more manageable if the products are completed in a timely manner, which eliminates the risk of rushed print and shipping costs. Events are also a great way to increase your photo library. Freelance photographers and videographers fill up fast so getting one scheduled early is essential. Other freelance costs could be event rentals or catering.
With over 20 years of combined experience in admissions and marketing, Katava Marketing can build your school a website paired with a data-driven marketing strategy that will have a positive impact on your school’s enrollment. Contact Us to get started!
