How Business Schools Can Win in the MBA Market

In the highly competitive world of business education, colleges and universities are working hard to convey the value of their programs. Research suggests that prospects choose a business degree over other options because of career outcomes, advanced knowledge, and networking opportunities. And when prospective graduate students begin the search process for a school, they’re likely asking three questions:

• Does it have my program?
• What are the logistics (cost, location, modality, time to completion)?
• How highly ranked is it?

This means that even strong schools, if they aren’t ranked in the top 50, often get overlooked. So what does this mean for marketing your business school? If you’re not one of the top-ranking schools, you may be better off with a strategy that prioritizes marketing your program over building a schoolwide brand — at least in the short term. Let’s talk about why. 

Most business schools are positioning themselves in the same ways.

As they try to remain competitive and in the conversation, schools often end up promoting very similar messages for very similar programs, which results in oversaturation and a real lack of distinction. 

For example, we know that rankings and reputation play a key role in students’ decisions. So it’s no surprise that many schools lead with messages about rankings and prestige, emphasizing the opportunities that students have during and after their education.

We see the same trend with online and hybrid programs. As these have become more popular ways to get an advanced business degree, many of the campaigns that tout these offerings look and sound alike. 

Business schools are also moving and responding in similar ways to the changing environment.

With the rise in interest for MBAs, prospects are looking for tailored programs to meet their career needs, and that doesn’t always include the general coverage that a normal full-time MBA provides. This has led to a rise in specialized master’s and MBA programs, such as online, part-time, and professional options that offer greater flexibility for working adults.

Over the last few years, the flexibility of online and hybrid options has been appealing to a wider range of career-minded individuals looking to further their education. With these options alongside full-time, in-person programs, there are more opportunities for everyone. 

So, how can business schools differentiate themselves from competitors?

We know that those looking to get an advanced business degree tend to have a longer research and consideration period, as they weigh the pros and cons, including time commitment, cost, and career benefits. However, the decision phase tends to be quicker, after so much time spent doing research. As they thoroughly explore their options, then, what will students find and learn about your school? Here are a few ideas that can help you stand out. 

1. Build personal brands for your faculty standouts.

The easiest way to do this is through organic posts on social media, especially LinkedIn. By positioning your faculty as experts in their industry, while also talking about their real-world experience, you can give prospective students a glimpse into who they’ll learn from and what they’ll learn about. 

2. Get in front of prospects with a more professional mindset.

Remember how we said that the research phase can be longer for these degrees? Staying top of mind while a user is already in a career- or industry-focused mindset can help to reinforce that your school or program is the right fit for them. Use paid ads to lean into platforms like relevant podcasts, LinkedIn, and industry publications, in print and online. Taking advantage of industry panels, online and in person, can be effective as well.

3. Identify local companies that offer tuition assistance or reimbursement, and target their employees.

Certificates, executive education, and executive MBA programs are all good “products” for these prospects. You can reach them in a variety of ways, like having an informational session at their office, or targeting these companies with paid ads on LinkedIn. For paid ads, you don’t need to call out the name of the company; instead, try calls to action that urge users to talk to their employer or reach out to your admissions team to discuss opportunities. 

4. Stay in the market consistently.

Research shows that better-known brands are perceived as higher quality. At any given time, 95% of your audience is not “in the market” for your product — not yet, at least. But it’s important to market to that 95%, not just the 5% who are ready to hear from you. For business schools, this means that key details at the top of the funnel can help pull in the right kind of students. If you show up in their life in meaningful ways, then when they do shift into that 5%, you’ll be top of mind as an option.

5. Evolve your program’s message as a student moves through the funnel.

This is one of the most important pieces to help set you apart from your competitors. Once a prospect is “in the market” (see #4, above), make sure your appeal is finely tuned to their motivations. A prospect may not know the right path for them at the beginning of their journey, and what appeals to an MBA candidate will be markedly different from what a prospect is looking for from a health care MBA or an MS in operations management. 

Let’s recap.

The business school market is competitive and oversaturated with marketing, but we see some opportunities to help you stand out. Here are our main takeaways. 

1. The demand for advanced business degrees is increasing, and the landscape continues to change. However, the messages aren’t changing enough.
2. If you’re not a top 50 school, think about shifting resources from building the school’s brand to highlighting key programs.
3. Take advantage of your faculty and use them as spokespeople for your brand. Lean into their expertise and network to help build awareness.
4. Make sure you’re keeping the 95:5 rule in mind when you market to your prospective students.

If you’re ready to take the next step in setting yourself apart from the competition, reach out to our team.