the potential of moocs for marketing and recruitment
DESCRIPTION
The potential of MOOCs for marketing and recruitment Emma Leech, Director of Marketing, Communications and Recruitment, University of NottinghamTRANSCRIPT
Opening the FloodgatesSebastian Thrun’s Massive Open Online Course (MOOC) Goes Viral
Two Fashionable Brands One Hot Global Topic Truly Amazing Uptake
Source: Steven Leckart, “The Stanford Education Experiment,” Wired Magazine, April 2012.
Topics Covered•Knowledge Representation •Inference •Machine Learning •Planning and Game Playing •Information Retrieval •Computer Vision •Robotics
From Announcement to Launch: 2 months
•160,000 EnrolledStudents
•195 Countries
Proliferating Platforms Differentiating MOOC Strategies
The Upstarts
•Consortium of elite universities •Courses cover broad range of liberal arts and STEM topics •Taught by celebrity faculty
•Focus on STEM and tech employers •Taught by faculty on leave, practitioners, recent graduates
•Emphasis on developing sophisticated platform for simulations •Working with community colleges
The Major Vendors Jump in the Game
Class2Go
Not Your Typical Undergraduate MOOC Participants Largely International Students, Working Adults
Demographics for Coursera Course on Machine Learning
Working Professionals 52.5%
41% Software 9% Computing and IT 2.5% Other
Students 32.6%
20% Graduate Students 11.6% Undergraduate 1% K12
Unemployed 3.5%
Other 11.5%
74% Reside Outside the U.S
Source: http://www.insidehighered.com/news/2012/06/05/early-demographic-data-hints-what-type-student-takes-mooc
Potential MOOC Business Models Where Will the Revenue Come From?
Potential Revenues
•Institutional Subsidy – Investment to generate new student leads, positive PR, contribute to public good •Student Fees – For identity verification, credit transfer, support services •Employer Fees – For access to student data, internal training •Licensing Revenue – From other institutions who wish to use the platform or specific courses •Advertising – From ads placed on course website
© 2012 The Education Advisory Board • www.eab.com
A Venture Capital-Backed StartupYour Revenue Model Is Thrun’s Loss Leader
Source: Steven Leckart, “The Stanford Education Experiment,” Wired Magazine, April 2012.
An Inverted Revenue Model •Courses are free •Assessment and certificates are free •Revenue may come from value-added services to students and employers: Premium Tutoring Authenticated Credentials Lead Generation
Imaging a Multi-Million-Dollar Human Capital Search Opportunity
1,000 $100,000 10-30%
Students x AI Starting Salary x Recruiter Commission = $10M-$30M
No Going Back for Thrun
“Having done this, I can’t teach at Stanford again. It’s impossible. There’s a red pill and a blue pill and you can take the blue pill and go back to your classroom and lecture your 20 students. But I’ve taken the red pill and seen Wonderland.”
Sebastian Thrun
Bold Predictions About Disruption in Higher Education
MOODY’S
MOODY’S on MOOCs
Major Credit Effects Likely to Emerge from the MOOC Movement 1.New revenue opportunities 2.Improved operating efficiencies 3.Heightened global brand recognition 4.Enhanced residential campus experience 5.Networks of greater scale, allowing more institutions to specialize 6.Competitive pressure on for-profit, and some not-for-profit, universities
Overturning a Centuries-Old Business Model?
“MOOC’s signal a fundamental shift in strategy by the industry’s leaders to use their powerful brand reputations to get ahead of rapid technological changes that could destabilize their residential business models over the long-run.”
Source: Moody’s, “Shifting Ground: Technology Begins to Alter Centuries-Old Business Model for Universities” (09/12/12)
Alex Bols (@alexbols)
08/05/2013 19:47If you were making a film of a play you wouldn't stand at back and record, same with MOOCs - they require much more thought to develop
Tweet from Alex Bols (@alexbols) FOR MOOC PRESENTATION
Tweet from Alex Bols (@alexbols)
Challenges and Opportunities for Marketing and Recruitment•Target audiences and student motivations•Institutional strategy – where do MOOCs fit?•How to use MOOC activity to attract “actual” students•Reputational benefits and potential risks•Brand positioning versus brand erosion?•Employers and employability
Challenges and Opportunities for Marketing and Recruitment•Badging•Student experience•Global showcase?•Viral impact•Conversion and margins•Subject choice•Future impact as “courses” become accredited, packaged and accepted in the mainstream
A few ideas…..
How Many Providers Do We Need?“In 50 years, there will be only 10 institutions in the world delivering higher education and Udacity has a
shot at being one of them.”
Sebastian Thrun
