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EP
56
July 5, 2024
Ep. 56: The Experience Economy: How Higher Ed Can Compete with Taylor Swift

The Experience Economy: How Higher Ed Can Compete with Taylor Swift

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About the Episode

About the Episode: 

In this episode of our podcast, Jaime Hunt is joined by Patricia Maben and Jim Rogers from 3 Enrollment Marketing to discuss the transformative power of the experience economy within higher education. Patricia and Jim provide actionable advice for institutions to reimagine their approach to student engagement, emphasizing the importance of every interaction on campus from the classroom to extracurricular activities.

Topics discussed in this episode include:

  • how institutions can create memorable and effective experiences that go beyond traditional recruitment methods.
  • innovative strategies to enhance campus tours, engage students, and ultimately, increase retention and success rates. 
  • examples of schools that excel in creating dynamic environments that captivate students.
  • the challenges and opportunities presented by the current shifts in higher education, including the need for schools to adapt to the rising expectations of the experience economy. 

Episode Summary

What is the Experience Economy in Higher Education?

The “experience economy” in higher ed emphasizes delivering memorable, immersive campus experiences that resonate deeply with students. Jim and Patricia argue that institutions need to compete not just with each other, but with large-scale cultural phenomena like Taylor Swift concerts that captivate young audiences. These engaging experiences foster loyalty and are often what students crave when choosing a college. While flagship schools and Power Five institutions with football programs naturally offer high-energy atmospheres, smaller schools can still create their own unique and impactful experiences with thoughtful, tailored touches.

How Can Smaller Schools with Limited Budgets Enhance the Student Experience?

The episode explores creative, budget-conscious ways for schools to elevate campus visits and daily life. Schools can start by mapping out sensory elements—touch, sight, sound, smell, and taste—and examining how these aspects contribute to an authentic experience. Simple actions, like greeting students with energy and excitement, using music to set the tone, or showcasing student achievements visually, can have a strong impact. Patricia emphasizes the importance of ditching outdated approaches and getting creative with familiar events. For example, replacing “open houses” with “Senior Experience Days” can provide a fresh take that appeals to prospective students and families.

What Role Do Faculty and Academic Departments Play in the Experience Economy?

Faculty and academic departments are instrumental in creating memorable experiences that enhance student engagement. Jaime shares an example of a tradition at a small HBCU that used symbolic ceremonies and rituals to create emotional moments for students at key milestones. Patricia highlights how faculty can create engaging classroom experiences by fostering curiosity and building unique atmospheres—an approach that can be just as memorable as any athletic or social event. When professors bring humor, energy, and real-world connections into their teaching, they help make academic life an intrinsic part of the student experience.

How Can Higher Ed Leaders Foster an “Experience-First” Culture?

To lead experience-driven transformations, leaders must be willing to rethink traditional approaches and look for inspiration outside of academia. Jim shares insights on how schools like UCF grew by prioritizing memorable experiences that eventually put them on the map. This culture shift doesn’t have to be costly; it begins with a willingness to innovate and experiment. For those struggling with the “we’ve always done it this way” mentality, Patricia recommends stepping back from day-to-day tasks to brainstorm fresh approaches, whether it’s rethinking campus tours or reimagining signature events.

How Can Schools Measure the Success of Their Experience Initiatives?

Patricia and Jim suggest that institutions track experience initiatives through key performance indicators like retention rates, conversion rates, and student affinity. These metrics reflect the quality of the student experience and its impact on institutional success. Additionally, Jaime and her guests stress the value of post-visit surveys and gathering anecdotal feedback to continuously refine the experience strategy. Schools can benefit from treating students as “five-star recruits,” much like athletic programs, by showing genuine enthusiasm and making each student feel like they belong.

To hear this interview and many more like it, subscribe on Apple Podcasts, Spotify, or our website, or search for Confessions of a Higher Ed CMO in your favorite podcast player.

Connect With Our Host:
Jaime Hunt
https://www.linkedin.com/in/jaimehunt/
https://twitter.com/JaimeHuntIMC

About The Enrollify Podcast Network:
Confessions of a Higher Ed CMO is a part of the Enrollify Podcast Network. If you like this podcast, chances are you’ll like other Enrollify shows too!  

Some of our favorites include Talking Tactics and Higher Ed Pulse

Enrollify is made possible by Element451 —  the next-generation AI student engagement platform helping institutions create meaningful and personalized interactions with students. Learn more at element451.com

People in this episode

Host

Jaime Hunt is the Founder of Solve Higher Ed Marketing, a consulting firm, and is the host of Confessions of a Higher Ed CMO.

Interviewee

Jim Rogers

James (Jim) Rogers brings three decades of experience in modern marketing strategy and execution to the helm of 3 Enrollment Marketing

Patricia Maben

Patricia Maben’s passion to support colleges and universities through the success of their students from recruitment to graduation.

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