As classes finish all across the country administrators are busy planning for the upcoming year. At this time, funds from the budget which went unused are allotted to last-minute purchases of equipment and software. Thanks to the use it or lose it policy of education budgets, most districts and schools must spend leftover money before it disappears on July 1st, with the announcement of the new budget.
What are Principals and Superintendents Doing During the Summer?
While most people would imagine that administrators spend the last few weeks of school relaxing and planning their vacations, that is seldom true. In reality, most principals and superintendents spend this time trying to squeeze every penny out of their expiring budget. It is during this time when new companies and products have an advantage.
- Administrators are open to new ideas because they have unused funds to spend and are able to dedicate time to researching innovative products.
- Demos and product meetings are easier to schedule with K12 decision-makers thanks to relaxed workloads.
- Purchasing products at the year-end allows schools to implement them over the summer and be ready to roll out new ideas smoothly the following year.
- Many administrators have retreats during this time where they can commune with their peers, talk about interesting up and coming products and services that may benefit their districts.
- During this time teachers and school officials are often engaging in professional development to improve the overall environment and performance of the student body.
June 30th Last Day to Use Old School Budget – Use it or Lose it
Thanks to budget rules that stop unused funds from rolling over to the next year, most schools need to spend their leftover dollars by June 30th. Otherwise, the money will be lost forever along with the opportunity for new products and services to improve school performance. Additionally, many administrators use this time to look at potential purchases for the incoming budget, starting July 1st.
Generally, smaller purchases are conducted by June 30th and larger ones are completed after. During the planning phase, late May through June, you can expect more responsive K12 decision-makers. This is when a great customer rapport will really pay off.
You can take advantage of opportunities to offer product test, send informational videos and really drive home the benefits of your services or innovative products.
Remember: The new budget is set July 1st. You need to be cemented into the minds of your clients before this deadline to win a bigger piece of the pie.
Converting Opportunity into Success
All of this opportunity for demos and facetime with potential buyers is great, but how do you turn that into a successful new year? It’s simple, work the process with renewed vigor!
- Establish a relationship based on high-value information with your intended customers.
- Run targeted campaigns which offer your K12 decision-makers opportunities to learn more about your products.
- Create your campaigns with the new year in mind.
- Direct specific content at the correct channels and create actionable steps for reciprocation.
- Revisit past clients with new and exciting offers.
If you follow these simple steps you can make the end of year rush on budget leftovers your golden time and get in early for consideration at the start of year funds. This double whammy of sales opportunities cannot be overlooked by anyone who wants to succeed in the K12 environment.