A couple of years ago, I remember a coach we work with telling me, “I can’t wait until this slow economy rebounds. It’s making recruiting ten times harder than it already is!”
Since then, the economy has rebounded. Our economy ebbs and flows, and has ups and downs, and through it all, coaches usually discover one sad truth: Talking about money never gets easier.
The money issue has become more and more commonplace, putting coaches in the uncomfortable position of adding a “financial advisor” label to their already crowded list of duties. Sure, you can ignore this new reality. However, you do so at your own risk; when we do our athlete focus group sessions when we begin work with a client or lead an On-Campus Workshop session, we’re hearing more and more stories of how coaches are failing to talk finances with a family during the recruiting process, and it’s causing recruits to cross those programs off their list.
So, how do you approach your recruits correctly when it comes to their family, and how they’re handling changing economies? We have some strategies that we’ve seen work over the past few years, and we think you can use them to help overcome the “money” objection as you talk with this next recruiting class.
- Ask the parents of your recruit how this crisis is effecting them. That type of question is one of the “15 Great Questions” we usually recommend to college coaches during our On-Campus Workshops. You need to understand how this crisis is effecting them, and what obstacles it creates when it comes to considering your school. This is especially true if you are a non-athletic scholarship institution, or a sport that typically only gives partical scholarships. The important thing here is to engage the family in that conversation. Some coaches would argue that it’s not their job, and that their admissions department and financial aid counselors should be the people to have that conversation. Maybe so, but your recruits are looking to you to be their guide. Do you want to risk not meeting that expectation?
- Be prepared to talk about money with your prospects. Get comfortable having that conversation. It’s going to be on the minds of your prospects more and more, especially if you’re not offering them a full scholarship. I would strongly advise you to have that talk with the parents, not the parents and your prospect together. It’s a sensitive topic, and we find that your prospect’s parents will be more open with you if their son or daughter is not there. The coach who is comfortable having this conversation with parents is going to win more prospect in the long run.
- Be a guide. Coaches who take the small extra step of being a guide through this increasingly confusing process at your college will win points with the family they are recruiting. Your prospects are looking for help, and we don’t think you should rely on admissions or your financial aid office to be the one-stop spot for answers and super sweet “customer service” – an attitude that shows you take ownership of the idea of helping them through this area of the recruiting process. The bottom line? Your prospect’s family is looking for help. Be the one to guide them to a solution.
- The coach who proves they have the best “bang for the buck”, wins. Families are still going to place a college education high on their list of things they are willing to invest in. Unlike a lot of sectors of the market that will go through real struggles over the coming years, college educations – as well as the dream of playing college sports – should remain a high priority in the minds of athletes and parents. The key to success in the coming months will be making sure you demonstrate to your prospects that you and your program offer the most opportunities for success and the best chance to become a great athlete. You are going to see families “shopping” more when it comes to choosing a college, especially if you are asking them to pay for part of it. I hope you are ready to be the master sales professional that I’ve been begging you to become the last few years…you are about to really rely on those communication and persuasion skills we’ve been giving you.
- How you communicate what you have to offer counts more now than ever. Especially your letters and emails, Coach. If you have a family who is struggling financially, or worried about their job, your average recruiting letter is going to have an even harder time getting through to them and getting their attention. Communicating clearly, systematically and with some originality is crucial. This all goes towards proving yourself to be a guide and a leader, which is going to be a valued commodity in the eyes of parents.
- Get to know your school’s financial aid officers, and their process for determining who gets what. Are you a coach who has kept an arm’s distance relationship with the people from financial aid and the admissions office? You can’t afford to do that anymore. Get to know them, what they look for, and how they make their decisions with regards to your incoming prospects. Coaches who invest the time in these relationships tell me that it has made a tangible difference in the process of getting an athlete they really want. Personal relationships matter: Invest in those relationships that can make your job as a recruiter easier, and more productive.
Of course, there are going to be many instances when all of the best answers won’t be able to overcome the reality that some families just won’t be able to afford anything other than a full-ride scholarship. In those instances, remember: You are responsible only for presenting smart reasons for them to pick your program, and that’s it. In the end, they have to decide what can work for them.
That being said, make it your goal to make as compelling a case as possible when it comes to why you, your program and your college are the best investment for the prospects’ future.