• Save
Mastering Your Enrollment Management Funnel
Upcoming SlideShare
Loading in...5
×
 

Like this? Share it with your network

Share

Mastering Your Enrollment Management Funnel

on

  • 1,057 views

Learn how to define your enrollment management funnel, evaluate your enrollment management operating metrics, set budgets/expense management, and review enrollment management solution providers.

Learn how to define your enrollment management funnel, evaluate your enrollment management operating metrics, set budgets/expense management, and review enrollment management solution providers.

Statistics

Views

Total Views
1,057
Views on SlideShare
1,056
Embed Views
1

Actions

Likes
1
Downloads
0
Comments
0

1 Embed 1

http://www.docseek.net 1

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Mastering Your Enrollment Management Funnel Presentation Transcript

  • 1. Mastering Your Enrollment Management Funnel Presented by The CollegeBound Network June 2009
  • 2. INTRODUCTION Greg O’Brien – CFO, The CollegeBound Network • CFO of CBN, also manage CBN EM products and services • 10 years experience in higher education investment banking • Former EVP of Enrollment Management and educational publishing business • Consulting on lead generation and EM with several NP and FP institutions
  • 3. SURVEY •  Where
are
you
here
from?
 •  What
type
of
school
are
you
with:
 –  Higher
Edu
(NP,
FP)
or
Industry
 –  Geo
region
 –  Online
and/or
campus
 –  Current
enrollment
 –  Target
enrollment
growth

  • 4. WHAT WILL WE COVER TODAY •  Defining Your EM Funnel •  EM Funnel Operating Metrics •  EM Budget, Expense Management •  EM Solution Providers •  Wrap it Up •  Q&A
  • 5. DEFINING YOUR EM FUNNEL Operating Parameters • Target/goal number of enrollments • Target/goal enrollment growth (%) • Segment targets by channel - campus, delivery method, academic program, geo, other demographics, etc - Tracking & transparency Life Cycle • Prospect contact management • Application life cycle management • Student life cycle management (retention) 5

  • 6. DEFINING YOUR EM FUNNEL Top-5 School Business, CBN client –  Began defining EM funnel first with leads –  Differentiate leads by quality = leads scoring –  Map campaigns so you can effectively measure performance –  Derive true CPE on a lead-source basis, which is the start of your funnel This is the truest way to connect the top of your EM funnel with the bottom
  • 7. DEFINING YOUR EM FUNNEL Admissions Funnel Source: BMO Capital Markets
  • 8. DEFINING YOUR EM FUNNEL A number of different metrics are used in an attempt to measure the effectiveness of sales and marketing spending at points along this funnel:   Cost per lead (CPL) - costs for admissions, recruiting, and marketing divided by the number of leads.   Cost per applicant - costs for admissions, recruiting, and marketing divided by the number of applicants.   Conversion rate (“inquiry to applicant” ratio) - measures the percentage of leads that actually are converted into applications.   Cost per accepted (CPA) - costs for admissions, recruiting, and marketing divided by the number of students accepted.   Lead-to-start rate (“inquiry-to-start” ratio) - measures the percentage of applications that are converted into new students.   Show rate (“yield rate”) - measures the percentage of those accepted that actually decide to enroll. Calculated as number of enrollments divided by number of acceptances.   Cost per start (CPS) (cost per enrolled, cost per new student, student acquisition cost) – costs for admissions, recruiting, and marketing divided by the number of new students enrolled.
  • 9. DEFINING YOUR EM FUNNEL N.A. = Not Available Source: NACAC (National Association for College Admission Counseling) Annual State of College Admissions.
  • 10. DEFINING YOUR EM FUNNEL Note: Data represents fiscal years. Data for American Public Education represents costs per new registration. Data used for Career Education and Corinthian Colleges excludes discontinued operations where available. N.A. = Not Available. Source: BMO Capital Markets estimates and company reports.
  • 11. DEFINING YOUR EM FUNNEL Career
Education
(CECO):

 Rating:
Outperform
 “Event: This is a follow up to CECO's 4Q08 EPS (GAAP from cont. ops.) of $0.38 versus $0.21, well above the consensus $0.20 and our $0.21 estimate management does not provide guidance). New student starts (excluding Transitional Schools) increased 3.5% y/y (close to our 4% estimate) while total population (excluding Transitional Schools) rose 6.9% y/y, well above our 3.8% estimate (consensus not available for enrollment data).”
  • 12. EM FUNNEL OPERATING METRICS What are your “electrons & neutrons” vs “atoms, elements, molecules”? What should you wake up and worry about? • Lead flow (by channel, program) • Cost Per Lead (CPL) • Conversion – lead to appointment • Conversion – lead to application • Conversion – lead to enrollment • Effective Cost Per Enrollment • Life-Time Value Per Enrollment (by channel)
  • 13. EM FUNNEL OPERATING METRICS Source: Gragg Advertising
  • 14. EM FUNNEL OPERATING METRICS Sources of New Students for Select For-Profit Providers (FY2002-FY2007) Source: BMO Capital Markets estimates and company reports.
  • 15. EM BUDGET, EXPENSE MANAGEMENT • Cost per application • Cost per start • Lifetime value of an enrollment • Balancing cost with enrollment goals - Micro view - Macro view • Do incremental students yield higher margin or diminishing returns? • Does one channel/delivery method support deficit or lower margin of another?
  • 16. EM BUDGET, EXPENSE MANAGEMENT Expected Fastest-Growing Occupations (2006-2016E) Source: Bureau of Labor Statistics, BMO Capital Markets and company reports.
  • 17. EM BUDGET, EXPENSE MANAGEMENT Advertising Expense as Percentage of Revenues for Select For-Profit Providers (FY2000-FY2007) Note: Data represents fiscal years. Data used for Career Education and Corinthian Colleges excludes discontinued operations where available. Education Management was a publicly held company until being taken private on June 1, 2006. N.A. = Not Available. Source: BMO Capital Markets and company reports.
  • 18. EM BUDGET, EXPENSE MANAGEMENT Advertising Expense as Annual Growth in Net Advertising Spending (1998-2010E) Source: BMO Capital Markets Media Group.
  • 19. EM SOLUTION PROVIDERS Lead Generation Sources: • Publishers - The CollegeBound Network - eLearners - Quinn St. • Brokers/Agencies - Ward Media - Vantage - CU Net - DataMark How do they do it? Lead content, sources, etc. How to measure cost and quality
  • 20. EM SOLUTION PROVIDERS CRM • Who are they? - PeopleSoft, Campus Management, Hobsons, Intelliworks, others How do they integrate with campus- wide systems? How to maximize benefit of these solutions.
  • 21. EM SOLUTION PROVIDERS 360 Enrollment Management Solutions • Scope of partnership, services • Various economic models - Fee for service - Cost plus - Revenue share models • Need to balance “ownership” of EM task with school/faculty culture, goals, desires • Regulatory considerations
  • 22. WRAPPING UP •  Define
 •  Metrics
 •  Monitor,
adapt
 •  Leverage
vendors

  • 23. QUESTIONS Gregory P. O’Brien Chief Financial Officer 718-761-4800 x128 646-422-9946 (m) gobrien@collegebound.net The CollegeBound Network 1200 South Avenue, Suite 202 Staten Island, NY www.collegebound.net/corporate