Businesses are offering more scholarships, and while the gesture may be a nice one, that doesn’t mean that the business doesn’t benefit in the process. Scholarships can range from a few hundred dollars to thousands of dollars.
And most scholarships involve some form of essay writing, followed by some form of a review and an essay winner being picked.
Sometimes, an essay is presented on a company’s website and visitors choose the best essay. Other times, a group of people, often managers and owners, will read through essays and pick one that they like best.
But from a marketing perspective, businesses are using scholarships for:
Exposure and Links from Educational Institutions
Educational institutions, universities, colleges and trade schools will have a list of scholarships for their potential enrollees. These educational institutions are going to be a go-to source for exposure and marketing.
Online marketing requires high quality links to be successful, and scholarships offer these high-quality links. Not only are these links high-quality, but they also come from many educational institutions that have high-end domains with a decent domain age.
These links add to the marketing company’s search engine optimization.
Exposure in Newspapers and Local Publications
Local newspapers and publications are always on the lookout for a good story. A local business offering a scholarship is a great story, and it’s a very good way to get a business’ name in front of locals.
A lot of locals will want to support a business if you’re trying to improve the lives of others.
But for businesses to get this type of exposure, they’ll want to reach out to newspapers explaining their scholarship to them. The goal is to, hopefully, find a writer or editor that wants to help a business gain exposure for their scholarship.
It's a win-win situation for the participants of the scholarship, the newspaper and for the business offering the scholarship.
Exposure on Scholarship Sites
If you do a quick search on Google, you’ll find a lot of scholarship sites. These sites are designed and meant to help connect students to potential scholarships. It's a great way for these sites to make money, and it’s a great way for businesses to get their scholarships in front of students.
These sites will gladly include your scholarship in their listing, and it will help you gain a link for your marketing campaign and gain applicants for your scholarship.
Businesses may also take their marketing offline, using their scholarship on marketing material. This may be a mention of the scholarship at a local sporting event, or it can be a mention of the scholarship on a pamphlet or brochure.
Scholarships can also be used as a form of marketing to attract people to your workforce. Some companies will offer a scholarship or free training if a person agrees to work for the company for a specified period of time. This is the case in the trucking industry, where many companies are willing to pay for a driver’s schooling in return for the driver committing to work for the company.