Beyond individual tactics, there are also larger patterns or common themes to successful revenue growth. We have distilled four executive imperatives to guide leaders’ alternative revenue efforts. The strongest tactics, those with largest potential revenue or highest ease of implementation, typically address one or more of these imperatives.
When selecting tactics to pursue, leaders should apply the imperatives as a filter, prioritizing tactics that directly touch one or more of the imperatives. Business leaders should also use these four imperatives as a checklist, ensuring their selected group of tactics collectively address all four.
Note, these imperatives are not confined to specific categories of revenue, such as advertising or space rental. Instead, colleges and universities can apply them broadly to multiple revenue sources. For instance, institutions could take advantage of student desire for convenience by launching targeted intersession courses or by introducing simple service fees.
More detail on these imperatives, as well as illustrative case studies, can be found in section one of this report.