Did you know that schools receive their budgets when students are enjoying summer break?
July 1st is the start of a new fiscal year for educational institutions. During this time, they will receive a new round of funding and start spending! Here is the spending breakdown for 2020:
This spending peak happens every year! Here is the school spending over the past 5 years:
Over the next 3 years, educational spending will increase to a new all time high with the assistance from the Federal government. The American Rescue Plan Act was signed into law March 2021, adding $168 billion to help our schools and future generations get back on track.
We shared some advice on how to prepare for the “use it or lose it funds” and now want to help you get ready for the new fiscal budget cycle.
Here are 5 tips to win business with schools:
STEP 1: Do the Prep Work
Modify your “pitch” toward schools & their efforts to return in “full force” for the 2021-2022 school year
Add “government/school stuff” to your website
Designate a lead person that knows the “verbiage”
Develop your compelling differentiator: unique product/service, warranty, 24x7 support, etc.
STEP 2: Develop a Targeted List of Schools
Identify schools that need your product/service the most
Target schools (prospects) that you can “over-service”
Areas where you have current customers (private or public)
States where you have other government sales and/or are on “state contract” or COOP
E&I Cooperative Services: eandi.org
STEP 3: CALL the Schools
Call the schools to build relationships
Target: Principal, Business Manager, Heading for Purchasing, Superintendent (for multi-school deployments)
May also target Teachers or Department Heads that focus on specific topics -- if relevant to your product/service
STEP 4: Follow-up
Should have a series of emails that explains product/service, competitive advantages, company background, etc.
Create SHORT videos of product/service, testimonials, company, yourself, etc. Don’t be shy!
Mail ONE-page product description PDF
STEP 5: Politely Persistent
Schools may not respond immediately….but they typically keep a record (list/folder) of vendors that provide products/services they know they are going to need, so be patient!
Offer something for FREE…..to Test…...or a Pilot.
Remember: We are all in uncharted territory…..so focus on being an asset that helps the school “get back to full-strength”.