Since 1889, Morley College London has provided adult education at its site on the boundary of Lambeth and Southwark boroughs, a stone’s throw from many of the capital’s iconic landmarks. The ethos at the college is centred around the joy of learning and helping people to fulfil their potential - it’s a formula that has been successful for nearly 130 years, so we’ve no intention of changing it.

But something that has become obvious in recent times is the growing need for colleges like ours - committed to addressing the learning needs of the communities we serve - to operate as successful businesses, too.

The changing world of work

The workplace is evolving at a rapid pace, with disruptive technology, enterprise hubs and the gig economy shaping a brave, new employment landscape. Right on our doorstep, there’s a vibrant business community looking for employees with the right skills.

While some of the 14,000 students Morley College welcomes through our doors each year are seeking to gain the skills they need for these jobs, others come to us to prepare for higher education, enrich their knowledge of music or pursue a passion for the arts.

To meet the needs of a varied group of students with a wide range of goals, today’s adult education college needs to put business intelligence at the centre of decision-making.

Accounting for success

Cash flow is key. Unlike many colleges, which receive a greater proportion of their income from government funding, 45 per cent of our £10 million turnover comes from fees - so financial forecasting is critical to our success.

Making enrolments web-based, rather than paper-based, and opening bookings for September courses as early as May or June is a great way to help students find the courses they want to study, but it enables a college to secure more of its income early, too. You can also determine sooner which courses will be sustainable. Online enrolment also helps us to match students with courses.

Personalised offering

Promotions are the lifeblood of many businesses. There’s no reason why they can’t work for colleges, too. Does BOGOF (buy one get one free) or the online retailer’s “recommended for you” email have a place in adult education? I believe so, as long as the promotion is carefully crafted.

Colleges are starting to make use of discount codes or vouchers, such as those which entitle prospective students to 10 per cent off their next course. And multi-buy options - book two courses and get the third half-price - are a good way to attract returning students and, in our case, 50 per cent of students come back.

If a student attends a performing arts course, they may be interested in dance or an exercise programme.They may welcome the offer of a place on a related course, at a reduced rate. We send personalised offers to students who have previously enrolled. Around 100 of our students made use of promotional vouchers in the past academic year.

Helping with the shopping basket

We find this works best for non-accredited provision - learners see a course online that catches their eye, put it in their basket and make payment. Courses that lead to a qualification require a more complex application process. Students may need to provide details of previous qualifications, write a statement or explain what has motivated them to apply.

With boxes to fill in and information to gather, there is a risk that a prospective student will move away from the website, leaving their application unfinished. But if the college is aware, staff can follow up and offer advice to help the student complete the application. At Morley, we use our management information system to find these dumped carts. This approach has been successful in turning around abandoned applications and assisting people enrolling on Level 3 and access to higher-education courses. In fact, £80,000 of fee income was generated in 2016-17 from helping students in this way.

With successful business practices, colleges such as ours can remain true to our vision and values, meet the changing needs of employers and the community and continue to inspire students to achieve their ambitions.

Jon Cole is head of management information services at Morley College London