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What Students Want From Business Schools

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Tuesday, December 10, 2024
By Nick Harland
Photo by iStock/PeopleImages
Are business schools’ marketing efforts aligned with what prospective students are looking for?
  • New research shines a light on what prospective students are looking for from business schools. 
  • Findings suggest that schools aren’t always marketing their programs in a way that resonates with students. 
  • By recognizing these misalignments, schools can take advantage of record levels of interest in business education. 

 
The world of marketing changes fast, and what works today won’t necessarily work tomorrow. That’s especially true in business education, where schools have to constantly adapt to keep up with the evolving needs of prospective students. 

The continued success of business schools worldwide suggests that they may market to prospective students better than other disciplines. However, new research has discovered a few disparities between what students want and what schools are providing. 

Let’s take a closer look at those disparities, as well as some advice for business schools on how to bridge the gaps. 

Unique and High-Quality YouTube Content 

One of the key takeaways from this year’s LaneTerralever (LT) was the increasing importance of YouTube. According to the report, 45 percent of students trust YouTube as a source of reliable information—more than any other social media channel. But just 18 percent of schools allocate the most resources to it (the top-allocated platform was Instagram, with 44 percent). 

At Iowa State University’s Ivy College of Business, YouTube has taken on even greater importance since the governor of Iowa banned the use of TikTok at the state’s public universities. The school has even hired a full-time employee to work on its video output. But that doesn’t necessarily mean they’re now producing “professional” videos. 

“We used to spend a lot of money making polished, produced videos, and we were so excited about them,” says Michele Appelgate, the school’s director of marketing and communications. “But what we started learning was that students really don't want polished videos—they want something more organic. So we started handing the camera over to students.” 

Today, the marketing team at Ivy produces a lot of TikTok-style content for its YouTube channel. It features far more student-led content than before, including videos of Ivy students abroad, at case competitions, or maybe offering insights into business study trips. The TikTok ban may have accelerated the shift to YouTube at Ivy, but ultimately it was a strategic decision that is working well for them. 

Student-Centered Content 

Part of the reason the low-fi approach to video content works is that it is student-led. It also fits in with the findings from the LT report, which found that 47 percent of students want to hear from fellow students in higher education marketing. Just 10 percent want to hear from school alumni. 

American University’s Kogod School of Business has certainly found success with this approach to marketing. “When you look at our website numbers, there’s no doubt that the student-centered content is a lot more engaging and interesting to our readers,” says Katya Popova, the school’s assistant dean of marketing and strategy. 

47 percent of students want to hear from fellow students in higher education marketing.

“I think that business schools have enough credit to give you confidence that you will be secure in your return on investment. So the alumni angle is not the immediate concern. The immediate concern is: who am I going to be among?” 

At Kogod, that thought process is reflected in their content, which Popova says is a mix of “high fidelity and low fidelity.” Student-produced videos are important, but so, too, are explainers and more professional content. The key is finding the right balance between the two. 

Appelgate adds that the rationale behind this approach is quite straightforward, really: “Students want to hear from students.” If schools can keep that thought at the forefront of their minds, they won’t go too far astray. 

Greater Program Flexibility With Hybrid Options 

has found that demand for hybrid study continues to grow, increasing from 12 percent in 2019 to 17 percent in 2023. In the same time frame, preference for purely in-person study dropped from 81 percent to 73 percent. 

While students are increasingly favoring online options, 90 percent still want some form of classroom learning within their program.

As ever, schools must respond to that small but significant change. Kogod has aligned its in-person and online MBA schedules, meaning students can now move freely between campus and remote study. Meanwhile, Ivy offers four different MBA programs, with study formats ranging from 100 percent online to 100 percent in-person. 

Finding a balance between online and in-person study is going to be key for business schools. Because while students are increasingly favoring online options, 90 percent still want some form of classroom learning within their program. In the coming years, schools should expect that desire for flexibility to continue growing. 

A Commitment to Environmental Action 

Sustainability has never been more important to prospective business school students. More than two-thirds a school’s environmental credentials are important to them, while 36 percent of those students wouldn't consider a school that doesn't prioritize sustainability. 

But students aren’t just looking for a school that talks about sustainability—they want their school to walk the walk, too. This represents an opportunity rather than a threat for institutions. Kogod—whose institution, American University, was the first carbon-neutral institution in the U.S.—recognized this early, and the school has adapted its messaging around sustainability to great success. 

“We shifted our messaging around sustainability about three years ago because it was outperforming all other content,” Popova explains. “So I told our leadership team that we need to make this a more central tenet of our messaging. And kudos to the leadership team: they absolutely embraced that.” 

And that change wasn’t symbolic. Popova says the new messaging is “resonating with students very much,” and they’re finding that students want to align themselves with a brand that shares their values. In the future, schools must recognize a commitment to environmental action not as a box-checking exercise but as a genuine way to recruit like-minded students. 

Ethics and Well-Being Ahead of Profits and Partnerships 

Student concerns over a university’s ethics have grown bigger and bigger in recent years. For example, this year has seen protests at against the institutions’ investments in companies connected to Israel and its war with Hamas. 

Students want schools to stop partnering, investing in, and promoting unethical companies.

And the concerns aren’t limited to small groups on campus. As part of the , more than 15,000 students were asked what business schools should stop doing to “enhance their positive impact.” One of the most-cited responses was for schools to stop partnering, investing in, and promoting unethical companies. 

At Kogod, they take these ethical concerns seriously. “We’re incredibly selective about who we invite to campus and how we publicize that,” says Popova, alluding to the in students speaking out against controversial companies on campus. “Because it is an important thing for our students and prospective students to see that these are the values that we align with. And I think that’s an important statement to make.” 

A Meaningful Career 

Business schools have plenty of credit in the bank among students. While there are never any guarantees in life, the fact that global interest in business education and graduate enrollment has risen in recent years, is a testament to business schools’ ability to provide students with an excellent return on their investment. 

However, that return isn’t a purely financial one. According to Appelgate, meaning and fulfillment are just as important as salary and security for 2025’s graduates. “Students care very much today about finding a job after college that has meaning for them,” she says. “And even if it’s at a lower pay, they want to do something meaningful.” 

Business schools must cater to this shift in student priorities. They might place a greater focus on their alumni making an impact in the world, or spotlighting the lesser-known industries that a business degree could lead into. For instance, a business school graduate will always be a valuable asset for a healthcare or sustainability organization. 

Ultimately, there’s no reason why business schools can’t provide the financial and ethical benefits that students are looking for. “We’ve made it our purpose to live in the quadrant of high fulfillment, high return on investment,” says Popova, “because those two things absolutely can and should live together.” 

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Authors
Nick Harland
Freelance Higher Education Writer
The views expressed by contributors to °®Âþµº Insights do not represent an official position of °®Âþµº, unless clearly stated.
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