Gray Associates Announces New AI-enabled Solutions to Help Schools and Colleges Geotarget Marketing Spending and Locate New Campuses
CONCORD, Mass., Feb. 16, 2021 /PRNewswire/ -- Today, GRAY Associates launched its Market Analysis Program, (MAP). MAP helps schools and colleges improve marketing ROI by geotargeting spending, recruiting, and investments in new locations.
Gray's MAP helps schools make better, faster, data-informed decisions on where to offer each existing and new academic program, online or on-ground. MAP scores and ranks hundreds of markets for programs to:
- Identify geographic markets for entry or expansion
- Select the best markets for new and current programs
- Enable or enhance geotargeting of marketing spending
- Evaluate marketing performance relative to local market opportunity
MAP and Gray's AI (Artificial Intelligence) analysis helps organizations intelligently allocate their marketing budget, finding markets where potential student demand is high, competition is manageable, and cost per click is low. It allocates the amount of money to each market, maximizing ROI per dollar invested.
Without an accurate, timely picture of where opportunity lies, it is impossible to know where it is best to recruit. MAP and Gray's AI analyses integrate data on student demand and competition to identify the communities and the high-schools that college recruiters should focus upon.
MAP plus AI can also help public and private schools of all levels, from grade schools to universities, identify optimal locations for new campuses. MAP allows Gray to scan hundreds of local markets in the US to find which have the best combination of student demand, competition, and demographics. We then build machine learning models that combine Gray's data on student demand by census tract, competitor size and distance by program, and a variety of demographic variables. These models predict the number of students the school would likely attract at each of hundreds of possible locations within a city. This enables clients to focus on the neighborhoods with the highest potential.
Mary Kelly, CEO of StrataTech Education Group said, "Thanks to Gray and MAP, we avoided acquisitions in areas where a new campus would've been unsuccessful. We'd been eyeing a market that we thought would be great for us," said Mary. "But we took a closer look using Gray Associates, and it turned out the market had changed radically in the past five years. There was now more supply than there was demand." Ms. Kelly added, "With Gray's help we've established a new HVAC program in Houston, and less than a year after opening, we had nearly 100 students enrolled. The new HVAC program brought in around $1.5 million in revenue."
Gray Associates CEO, Bob Atkins says, "Geography is a critical element in education strategy. Campuses, recruiters, and marketing spend must be in the correct locations to maximize return on the funds our clients can invest. Too often, schools rely on anecdotal information or outdated demographics. MAP leverages an unparalleled combination of data sources to ensure schools spend their money where it matters most. Online giants are taking students from the backyards of smaller institutions. MAP levels the playing field and helps our clients win back their students and grow."
About Gray Associates
Gray Associates helps colleges and universities make data-informed decisions about their academic programs. Gray's software integrates the best data on student demand, employer needs, and competitive intensity for the market served by each institution. Faculty and administrative leaders use the software to score, rank, and evaluate programs in a collaborative process that builds consensus on programs to start, sunset, sustain, or grow. With Gray's tools and processes, institutions identify paths to increase enrollment, revenue, and efficiency, while investing in their mission and strengthening relationships among faculty and administrators.
PRESS CONTACT:
Jackie Lucas
Vera Voce Communication, For Gray Associates
email: [email protected]
978-255-1159
SOURCE Gray Associates
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