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Michael McPherson, Partner & Creative Director at COREY recently spoke at the FutureM conference that ran October 23-26. This presentation is from COREY's panel discussion titled, "Who Needs School Anyway?"
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The Value Prop for Higher Ed in a World of Online Education
FUTUREM
OCTOBER 25, 2012
WHO NEEDS SCHOOL ANYWAY?
PHYSICS
WHO NEEDS SCHOOL ANYWAY?
CHEMISTRY
WHO NEEDS SCHOOL ANYWAY?
BIOLOGY
WHO NEEDS SCHOOL ANYWAY?
ATHLETICS
WHO NEEDS SCHOOL ANYWAY?
SOCIALSCIENCES
WHO NEEDS SCHOOL ANYWAY?
EXTRACURRICULARACTIVITIES
WHO NEEDS SCHOOL ANYWAY?
STIMULATINGLECTURES
WHO NEEDS SCHOOL ANYWAY?
FACILITIES
WHO NEEDS SCHOOL ANYWAY?
ASSISTED LIVING
WHO NEEDS SCHOOL ANYWAY?
“At least a third of students gain no measurable skills during their four years in college. For the remainder who do, the gains are usually minimal.”
– Richard Arum and Josipa Roksa, Academically Adrift
“Mythomania about college has turned getting a degree into an American neurosis. It’s sending parents to the poorhouse and saddling students with a backpack full of debt that doesn’t even guarantee a good job in the end.”
– Newsweek
WHO NEEDS SCHOOL ANYWAY?
WHO NEEDS SCHOOL ANYWAY?
The New York Times, September 8, 2012
Value Proposition =
Features +
Benefits
WHO NEEDS SCHOOL ANYWAY?
Value Proposition =
What do you offer? +
Why should I care?
WHO NEEDS SCHOOL ANYWAY?
Functional Benefits =
What does it do for me?
WHO NEEDS SCHOOL ANYWAY?
Emotional Benefits =
How does it make me feel?
WHO NEEDS SCHOOL ANYWAY?
Self-expressive Benefits =
What does it say about me?
WHO NEEDS SCHOOL ANYWAY?
WHO NEEDS SCHOOL ANYWAY?
What are the functional benefits of a college education?
Basically, all the stuff you can get for free online.
iTunes U
WHO NEEDS SCHOOL ANYWAY?
iTunes U
WHO NEEDS SCHOOL ANYWAY?
edX
WHO NEEDS SCHOOL ANYWAY?
Udacity
WHO NEEDS SCHOOL ANYWAY?
Udacity
WHO NEEDS SCHOOL ANYWAY?
Coursera
WHO NEEDS SCHOOL ANYWAY?
Minerva University
WHO NEEDS SCHOOL ANYWAY?
WHO NEEDS SCHOOL ANYWAY?
WHO NEEDS SCHOOL ANYWAY?
Positioning Statements:
iTunes U = Learn anything, anywhere, anytime.
Coursera = Higher education that overcomes the boundaries of geography, time and money!
Udacity = At Udacity, we put you, the student, at the center of the universe.
edX = The Future of Online Education for anyone, anywhere, anytime
Minerva = dedicated to providing a uniquely rigorous and challenging education to the brightest students in the world
WHO NEEDS SCHOOL ANYWAY?
Functional Benefits
Traditional Online
college credits certificates
faculty of the college world–class teachers
college campus wherever there’s wifi
fellow students social network
alumni network peer network
career services office LinkedIn
very expensive free (or mostly so)
doesn’t scale well scales for some courses
WHO NEEDS SCHOOL ANYWAY?
Emotional Benefits
Traditional Online
peer community discussion forum
leadership opportunities not so much
physical activities not so much
social bonding social networking
“nourishing mother” my actual mother
fun ?
WHO NEEDS SCHOOL ANYWAY?
Self-expressive Benefits
Traditional Online
pride as alum pride as self-motivatedlearner
“college-educated” gained competence in Xat Prestigious U.
I invested in educ. I’m a smart shopper
WHO NEEDS SCHOOL ANYWAY?
Market Noise
WHO NEEDS SCHOOL ANYWAY?
Online vs. Off-line/Hybrid
Paid vs.Free
Degree vs. Certificate
Prestigious vs. Mass Market
Market Noise
Non-profit vs.For-profit
Repackaging vs. Creating
WHO NEEDS SCHOOL ANYWAY?
What we’re seeing from a brand perspective:
•Traditional colleges and universities are under pressure to offer online courses to reduce costs and improve outcomes – without damaging their brand.
• Create a separate online-only brand that houses online courses from top universities.
• Use the online-only brand as a platform for partnerships with other universities.
WHO NEEDS SCHOOL ANYWAY?
What we’re seeing from a brand perspective:
•Some of these platforms are venture-funded for-profit spinoffs from universities (both from Stanford).
• Coursera offers courses from top universities and gets brand lift from it’s content.
• Udacity is trying to build their brand from the ground up.
WHO NEEDS SCHOOL ANYWAY?
What we’re seeing from a brand perspective:
•There will only be room for a few super brands in a global online education marketplace.
• Joining an existing platform, such as edX or Coursera or iTunes U will be much more effective than trying to market online offerings as an institution.
WHO NEEDS SCHOOL ANYWAY?
What we’re seeing from a brand perspective:
•The model for online education at the high end is still evolving.
• Are universities cannibalizing their offering by giving it away online? Or are they building a larger audience by growing global awareness? Or are they “doing the right thing” by sharing their content.
• Some for-profit online education is being funded by VCs and corporations as a way to identify talent worldwide.
• “Certificates of Accomplishment” are gaining traction on resumes.
WHO NEEDS SCHOOL ANYWAY?
What we’re seeing from a brand perspective:
•We predict that individual star faculty will also develop and need to manage their brands as their revenue potential grows with a global audience.
WHO NEEDS SCHOOL ANYWAY?
“What students find at a university is mainly each other – a culture of learning.”
– Brian Harvey, University of California-Berkeley
THANK YOU
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