How to set realistic course targets and restore sanity
In today’s higher education sector, setting realistic course targets is a pivotal concern. As institutions strive for growth and excellence, the pressure to meet rigorous targets often leads to burnout and stress. So in this blog post, we speak to Cathy Mitchell, Associate Director of Strategic Planning at Imperial College London, and Dr Julian Westwood, Director of S Squared Insights about the challenges and solutions surrounding course targets.
The importance of realistic targets
The harsh truth is that unrealistic targets can lead to high stress levels among team members and can even affect job security. So, it’s important to set realistic targets that take into account market conditions and political factors. Julian explains that there’s a growing awareness that higher education finances are broken and, while we are looking around for a sustainable solution, the burden falls to the revenue-generating areas – which is student numbers.
The reality is that student numbers are only one part of the equation. Fees are the other major factor that can influence targets. Julian advises universities to keep their fees in check with inflation to avoid placing undue pressure on student recruitment.
Cathy adds that not being in control of what the targets are and not having control over how to meet those targets are leaving people struggling to meet them all.
The role of relationship building
Strong inter-departmental relationships are important for setting realistic targets. Having a good connection with key players, such as CFOs, planning departments, and academic leads helps to ensure targets are set based on strategic principles rather than aspirational whims.
Without these meaningful relationships, achieving consensus on feasible targets becomes challenging.
Setting your business up for success
A strategic approach is essential for growth. Penny Eccles, founder of Marketing Partnership, advises that a university must set its business up for success by being adaptable and ready to change its offer, business model, and commercial strategy if necessary.
Sticking to the status quo while expecting different results is unrealistic, and true growth often requires fundamental changes.
Cathy emphasises the importance of having a deep understanding of the portfolio. This includes knowing the degrees offered, academic leads, and potential impacts of marketing spend. Building confidence in the marketing team's capabilities can help maintain focus on priority targets rather than setting targets for everything.
Long-term priority setting
There is enormous value in long-term planning. Reacting to short-term demands can derail the business, so having a clear, long-term strategy can prevent the need for emergency measures. This involves setting realistic development plans that align with long-term growth rather than immediate numbers.
System efficiency
Efficiency in systems is critical. Many institutions face issues with outdated or incompatible systems, which hinder their ability to implement strategies effectively. Investing in good systems and automating where possible can free up time for more impactful work, aligning operations with strategic goals.
Focus on market share
Focusing on market share rather than absolute numbers can provide a clearer picture of performance. Understanding your institution's typical market share and how it compares to competitors can offer valuable insights for strategic planning. Use available tools and data to analyse market trends and make informed decisions.
In conclusion, setting targets shouldn’t be something you and your team dread. Because a well-crafted target actually engages people and helps everyone see a way forward.
Penny Eccles is a marketing consultant specialising in Higher Education marketing and student recruitment.