Following a recent survey Barclays have found millennials spend over £3,300 on takeaways, eating out, daily coffees, socialising and buying new clothes. And two thirds admit they don’t save enough, or at all. But what does this have to do with independent schools? At MTM, most of us ‘just’ fit into the millennial category and with young children, we are testament to the fact the millennial generation are now the target market for independent schools. So, the average millennial could probably afford fees for a term, if they made a few sacrifices but I’m guessing most probably wouldn’t.
It’s clear values and expectations are changing and to market ourselves effectively, we need to remain one step ahead. We make no secret of the fact that we believe #researchpowerseverything and knowing your market is absolutely paramount to your success. We know from our own research that more and more of those who could afford independent education are choosing not to access it, and it is getting harder and harder to attract the next generation so why not find out what it is they want, what their values are and discover how you can better meet their needs?