Money Marketing Matters: How to Effectively Share the Value of Financial Aid Packages

How important is money — and your school’s financial aid package — to today’s college applicants and their parents?

According to one study, 53% of families considering which institution a child should attend decided not to look at certain schools based on perceived cost alone, and 52% said financial aid packages ultimately influenced their choice.1

Is your school doing everything in its power to communicate the value of its financial aid awards to the “best-fit” applicants you want in your classrooms?

If not, your admissions and enrollment initiatives are probably not as effectives as they need to be in order for you school to achieve its most important class-building goals.

To help you stay ahead of the pack, Liaison’s new on-demand webinar, “Effectively Sharing the Value of Financial Aid Packages,” offers insights about:

  • The importance of helping students and families understand the components of their package.
  • Overcoming concerns on complexity and security for data transfers.
  • The role scholarships play in yielding students.
  • The strategies and benefits associated with using multi-channel marketing campaigns to convey financial aid awards to applicants and their parents.

“We definitely see increased response and increased ROI when schools use multi-channel communications strategies, especially with something as important as financial aid,” says Suzanne Sharp, Liaison’s executive director of enrollment management consulting. “Multi-channel campaigns really send the message that you want the students, that you’re committed to them and that you’re ready to help them with the financial aid award they need. Of all the pieces you send out to families, the financial aid piece is probably the one that gets read the most. So don’t do the disservice of simply sending out a single email or black-and-white letter on letterhead.”

Gina Puc, dean of enrollment management and community relations at Massachusetts School of Liberal Arts (MSLA), began working with Liaison on her school’s financial aid award messaging after seeing similar work Liaison had done for other institutions.

“Because we had worked with Liaison before on more top-of-funnel projects, we had a really easy pathway to transform our financial aid package,” she says. “We knew we wanted a way to clearly explain all the components of the financial aid award to families. And we really wanted to align the financial aid award with our brand so that it closely mirrored the accepted student communications we were already sending out.

“When you think about how many variables there are in a financial aid package, the amazing thing is that Liaison and MSLA were able to come up with a data feed that made it all possible,” she adds. “And then, of course, we were able to deliver that information in a highly personalized way using the right communication channels for each student.”

To learn more about how Liaison helped MSLA achieve those goals — and how you can accomplish the same results — watch “Effectively Sharing the Value of Financial Aid Packages” here.

BACK TO BLOG PAGE

LiaisonEDU