This section lays out some facts and statistics about the post-secondary market and how Fulcrum can provide a service that can address some of the pain points in the market.

It is no secret that the value of a 4-year degree is being questioned. With the availability of the internet, students have more options to earn certifications at the fraction of the cost. Why take on a student loan when there are other viable options out there?  

What does this mean for the Fulcrum app?

The labour market statistics show that investing in a product catered towards the higher education market is not a lost cause as:

CNBC (2023) reports that people with Bachelor's degree generally earn 75% more than their peers who only have high school diplomas. Look at the graph below to see a visual representation of the statistic.

From the Canadian perspective, Statistics Canada (2023) reports:

In terms of unemployment and wage statistics, see the graphs below.

Despite the hesitation with pursuing higher education, the statistics collected by government agencies and private educational institutions show that young adults are still willing to invest in post-secondary education. The wage and unemployment rates show that university graduates fare better in income and during times of economic turmoil. The Fulcrum app will have prospective students using the app.

Although the post-secondary market is robust, how much do these institutions shell out for marketing?

Check out this infograph about university budget spending on marketing. The grade levels on the side of the boxes show the effectiveness of a university's marketing strategy. UG in the infograph denotes Undergraduate. It is important to note that universities spend between $429 to $623 per enrolled student per year  (Simpson Scarborough, 2019). 

The following top universitites have reportedly spent the amounts listed below based on their tax returns from 2018 or 2019 tax information (Wiltshire, n,d).

• Johns Hopkins University: $29.6 million

• New York University: $28.5 million

• University of Pennsylvania: $25.7 million

• Northwestern University: $25.6 million

• University of Miami: $23.2 million

• Columbia University: $13.2 million

• Boston University: $12.7 million

• Georgetown University: $11.6 million

• Stanford University: $10.3 million

According to Wilthshire (n.d.), marketing involves the following strategies:

• Social media advertising: This involves using Facebook, Instagram, LinkedIn, Snapchat and TikTok.

• Social media management: This ensures regular posts and quick replies to questions and comments with the content.

• Email marketing: This can be good for sharing information about courses, success stories, upcoming events, and application deadlines and processes.

• Pay Per Click (PPC): This kind of ad ensures that the institution will appear at the top of common student search results. For example, if a student were to type "best educational technology degree programs", the paying institution would appear.

• Content marketing: This kind of marketing endeavours to establish the educational institution as having the authority or proper reputation. This kind of marketing can involve blogs about student life, e-books on choosing the right course, and videos about campus culture.