Tuition on eBay: genius or goofy?
Just saw that Oklahoma Wesleyan University is putting one year’s worth of tuition on eBay. Since I work in Higher Ed, I’m really curious what people think about this.
Personally, I’m not too fond of it and here’s why:
- It potentially locks out anyone who can’t write a check for $20,000.
- It’s easy to see how to win the auction. If the student comes from a family who doesn’t qualify for need-based financial aid, then they just need to be the first person to enter a bid for the full amount (or $1 over the full amount). Any further bidding is pointless, aside from the fact that it drives up the final cost for the pre-determined winner.
- What is the marketing message that OWU is sending with this auction? That they’re so hard up for students that they need to resort to gimmicks to gain attention? That their academics and other activities aren’t worth promoting, so they need to resort to selling tuition alongside bobbleheads and used cars?
- In an age where the President of the University ought to assume responsibility for the marketing function, I’ve really got to question the wisdom of OWU’s president. The contact person is listed as a special assistant to a VP. I wonder whether the President of OWU had any say in this at all.
Then again, maybe I’m just turning into an old fuddy duddy. Maybe this is marketing genius and I’m just too wrapped up in trying to preserve the image of Higher Ed as a sacred place of learning, untainted by the dirty market. I guess if OWU’s goal is purely to raise awareness of their university, then maybe they’ve succeeded. I’d be very curious to learn how this gimmick (and it really is a gimmick) factors into their overall marketing strategy (there, I said it: strategy).
UPDATE: one small tweak to the auction would make me very impressed with the whole thing: make it clear that the full proceeds from the auction are going to fund a new scholarship for needy students. But that would mean giving away money, wouldn’t it?
8 opinions for Tuition on eBay: genius or goofy?
Eric Brown
Jan 23, 2007 at 5:00 pm
I’ve actually run across a similar situation with a California Approved Law School (not ABA approved) that auctioned tuition for the full program on Ebay…I think the winner paid less than $5000 for a CA approved law degree which lets them sit for the CA bar exam and practice law in CA…assuming they finish the program.
OWU isn’t that well known even in Oklahoma so this is probably an idea to raise awareness of the school across the state and country.
dforester
Jan 23, 2007 at 10:05 pm
Y’know what would be even more interesting? Sell options on tuition. Kind of like pre-paying, but less up-front cost (e.g. not paying the full tuition). Of course, I guess they’d likely only be call options, but hey - Want to “hedge” where your 10-year-old can go, if you’ve got big-time expensive academic hopes for them? Buy a few call options on a few different schools; the-right-but-not-the-obligation to pay $X per year for tuition. Worst-case (education prices stay flat and your kid drops out of highschool), you lose premium paid, but best-case, your kid can make good on one of ‘em, and you can sell the rest for a profit.
Bren
Jan 23, 2007 at 10:37 pm
@dforester: I agree that would be interesting. When you set up the educational options clearinghouse, lemme know and I’ll be first in line. ;-)
Jim
Feb 5, 2007 at 9:33 pm
Well, looks like the auction has been removed from eBay.
“This listing (290078207387) has been removed or is no longer available. If the listing was removed by eBay, consider it canceled.”
When I can start using my financial aid on eBay is when this will really start to get interesting… :)
Mark
Feb 6, 2007 at 11:39 am
This auction is rife with a tort law fraud lawsuit written all over it, because they reposted the EXACT same auction after deleting over 40 legitimate bids. OKWU will be the laughing stock of ebay in about 6 days….
Rob
Feb 6, 2007 at 6:49 pm
Once you make price your distinctive, which OWU did in this instance, your school becomes a commodity. Then all someone has to do is beat your price. Not only is this a bad marketing move, it’s a serious cheapening of both the university and higher education. I couldn’t find a history of the school on their Web site, but the perception I got was that this was an insta-school that’s using Ebay as a gimmick to break into higher ed. Sadly, after a brief hiatus, they are back on Ebay with renewed vigor (http://www.okwu.edu/Brix?pageID=20676).
Ryan Merket
Feb 10, 2007 at 1:00 pm
Rob, try harder next time: http://www.okwu.edu/Brix?pageID=17858
My school is not “desperate for students” - we are tripling up dorm rooms and in the process of building more. We are a liberal arts university with a very Marketing driven President - enough said.
Rob
Feb 11, 2007 at 1:19 pm
Hey Ryan,
No offense intended. I don’t know much about your school and it may be the case that it’s a quality institution. However, the perception your school is creating through its eBay campaign is not one that communicates academic quality. I appreciate the fact that your president is marketing driven, but if enrollment is booming as you say, then why resort to gimmicks like eBay? Is auctioning off tuition supposed to communicate academic quality? Does your president really want your school to be known as “the eBay school?” Probably not, but that’s what’s happening.