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NSCEC presentation   a fresh look at the admissions funnel
 

NSCEC presentation a fresh look at the admissions funnel

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    NSCEC presentation   a fresh look at the admissions funnel NSCEC presentation a fresh look at the admissions funnel Presentation Transcript

    • A Fresh Look at The Admissions Funnel:Real Examples From the FieldJim Schlimmer and Lyle KraftNational Small College Enrollment ConferenceJuly 13, 2011
    • About Us• Christian Brothers University - Memphis – Catholic, Lasallian Christian Brothers – 1,777 students: 1,110 traditional undergraduates – Students from 16 states and 11 foreign countries• PlattForm Higher Education – Kansas City – More than 20 years experience as a full- service advertising agency focused exclusively on enrollment solutions for higher education
    • You Are Ahead of Most Private Colleges Because of Who You Are!… leaders of companies that go from goodto great start not with “where” but with“who.” They start by getting the rightpeople on the bus, the wrong people offthe bus, and the right people in the rightseats. And they stick with that discipline—first the people, then the direction—nomatter how dire the circumstances.- Jim Collins, Good to Great
    • Objectives• Review existing models for benchmarking – Noel Levitz – Colleges by groups• Offer different Key Performance Indicators (KPI) to track• Recommended communication strategies for each KPI objective• Final recommendations for your institution – from admissions audit suggestions to communication strategies
    • What is Our Position in the Marketplace as Private Colleges?• 41% of respondents believe the quality of education is better at private colleges and universities with only 13% saying public were better. Nearly four of ten (38%) said the education at public and private institutions was about the same• When asked “If money were not an issue, would you rather have your child attend a private or public university?” 45% said private, 25% said public and 28% said it didn’t matter. (GDA Associates http://www.dehne.com/)
    • Review Common Admissions Funnel Data Points• Suspect-to-inquiry rates (Search)• Inquiry-to-application rates• Application-to-acceptance rates• Application-to-enrollment rates• Acceptance-to- enrollment rates• Deposit melt rates
    • Recruitment Funnel Ratios: First-Year Students at Four-Year Institutions First-Year First-Year Students Students Fall Fall 2010 2009 Median 14.7% 14.6% Conversion rate from First Quartile 9.4% 9.2% inquiry to application Third Quartile 22.0% 21.8% N 126 122 Median 65.5% 65.4% Admit rate from First Quartile 53.1% 54.5% application to admit Third Quartile 74.9% 75.9% N 1.41 136 Median 86.4% 86.4% Admit rate from First Quartile 75.3% 75.7%complete application to Third Quartile 93.6% 94.8% admit N 122 119 Median 29.3% 28.8%Yield rate from admission First Quartile 21.6% 21.8% to enrollment Third Quartile 40.4% 41.6% N 142 137 Median 11.8% 11.7% Melt rate from First Quartile 7.1% 7.5% deposit/confirmed to Third Quartile 16.5% 17.2% enrollment N 91 84 Noel Levitz, 2010 Funnel Survey
    • Enrollment Funnel: Fill in the Numbers for Your School100,000 Prospects15,000 Inquiries1,500 (10%) Applicants Gravity or755 (50.3%) Admits design?311 (41.2%) Enrollees155 (49.8%) Graduates
    • Median Number of Written Contacts with a Typical Prospective Student• Broken out by enrollment stage• Includes direct mail, email and text messaging 2011 Marketing and Student Recruitment Practices at Four-Year and Two-Year Institutions Noel Levitz 2011
    • Average Benchmarks for Traditional Conversion Ratios Noel PlattForm Selective Moderate- Levitz Schools Schools SelectiveInquiry-to-Application 14.7% 9.8% N/A N/AApplication-to-Acceptance 66.0% 64.0% 60.6% 69.9%Admit-to-Enroll 29.3% 27.0% 25.7% 28.9%Conclusion: Your institutions have richdatabases for tracking your KPIs. Know yournumbers, use your benchmarks for guideposts,but create your own paradigm.
    • Communication Plan for the Prospect (Search) Stage• 92% view Search as important or very important. (Gillis Report 2010)• Noel Levitz data shows five touches at the Search level – How many contacts do you have with your search pool? – How do you contact them?• Contacting your inquiries – Noel Levitz report shows ten contacts at the inquiry stage – How deep is your communications program? What is the mix (electronic and paper)?
    • Success Stories• Increase your Search communications flow for a longer period of time• Use of statistical research for inclusion of Search names into your inquiry pool
    • Success Stories Private School in the Northeast Private School in the Midwest Test 1 Test 2 Test 3 Test 1*Search List 7,181 7,357 1,249 Search List 32,582Inquiries 7,181 7,357 1,249 Inquiries/TSA 2,618Applications 204 235 32 Applications 30Admits 182 203 27 Admits 22Deposits 32 42 N/A Deposits 7Enrollments 31 41 N/A Enrollments N/A *Data valid through April 2011
    • Managing Key Performance Indicators: Campus Visitors• “The only factor able to predict enrollment is the campus visit” - George Dehne, GDA, 2005• Number of first-year visitors• Number of first-year visitors by timing “buckets” − Early – prior to the senior year − Fall – fall of the senior year − Spring/Summer – spring and summer of senior year• Number and percent of first-year students applying − Overall − By “buckets”
    • Campus Visit Analysis Timing of Campus Visitors 452, 35% 495, 38% Early Fall Late 341, 27%
    • Campus Visit Analysis Timing of Campus Visitors Campus Visitor, by month, who applied Early 175, 24%452, 35% 495, 38% 388, 52% Fall 182, 24% Late 341, 27%
    • Campus Visit AnalysisTiming of Campus Visitors Campus Visitor, by month, Campus Visitors, by month, who applied who enrolled 42, 175, 24% 14% 452, 35% 495, 38% 388, 52% 191, 62% 74, 24% 182, 24% 341, 27%
    • Communication Plan After Review of Campus Visit ParadigmFor less selective schools – For selective schools –late visit significance early visit significance• Bulk of visitors usually • In one school’s case, 83% arrive late of total visitors visited the• Communication plan campus prior to their should encourage visits senior year (compared 60 days prior to the with 28% at less selective critical time of visits school) (December – January – • Early publication plan is February) critical – at least five “touches” prior to August of senior year
    • Managing Key Performance Indicators: Timing of Inquiries and Applicants• Assign students’ inquiries into three “buckets” − Early – prior to senior year − Fall – fall of senior year − Spring/Summer – spring and summer of senior year• Number and percent of first-year students applying − Overall − By “buckets”• Inquiry wisdom for your office: − Early inquiries are better prepared and have higher EFCs − Late inquiries are not as well prepared with lower EFCs
    • Power of Inquiry Date Tracking100% 6% 10 % 18% 42%90%80% 25%70% 48% 30%60% Late50% 16% Fall40% Early30% 42% 52% 69% 42%20%10% 0% School 1 Inq School 1 Enr School 2 Inq School 2 Enr
    • Communication Plan From Date-of-Inquiry Analysis• School 1 – Low percentage of inquiries early – higher enrollment • This could mean an opportunity for more early communication • Early inquiries apply at a greater rate – Late inquiries represent high number of enrollees • Efforts on late inquiries are working • Is this the group the college desires: winter Search? – Fall inquiries • They apply at lower rates – do we enter their names as fast as possible? Are publications going out? Do we need more types of communication? • This pool is much bigger than the pool in school 2 – Are college days not effective?
    • Communication Plan From Date-of-Inquiry Analysis• School 2 – High percentage of inquiries are early • This school takes on the look of a selective college, but it is not selective • This percentage is disproportional: is this model working? • Either reduce the number of inquiries early or increase the early communication: develop early application programs, early visit programs, early financial aid program, or more contacts (publications and more) with this group
    • Enrollment for Two Colleges: Timing of Inquiries and High Expected Family Contributions (EFCs) 100% 90% 80% C2-High EFC 70% 60% C2 Enrolled 50% 40% C1 - High 30% EFC 20% C1-Enrolled 10% 0% Early Fall LateTime of inquiry: Early=prior to senior year, Fall=fall of senior year, Late=springof senior year
    • Managing Key Performance Indicators: Monthly Timing Audit• Find the biggest block of inquiries – Three months after the inquires arrive, the publication plan should develop – This will include your suspect plan and inquiry plan• Find the biggest block of applications – Three month block of applications, three months prior should constitute the core of your pre-application program – Pre-application program should be run prior to the bulk of applications and into the application received sequence• Find the biggest block of deposits – Three months prior to the acceptances, plan for your post acceptance communication plan – Make this plan multi-channel and sequential – Theme: Congratulations! You made a great move.
    • Critical Monthly Activities: Inquiries, Campus Visits, Applications, Acceptances and Deposits Campus Applications Freshman Transfer Visit Received by Freshman Freshmen Month Inquiries Inquiries Freshmen Freshman Accepted DepositsPre-Sept 15,537 19 229 0 0 0 Sept 495 7 28 209 19 0 Oct 513 15 51 328 138 2 Nov 594 10 78 344 161 7 Dec 111 25 12 190 146 7 Jan 132 40 52 224 120 17 Feb 148 31 10 165 97 21 Mar 125 28 33 126 74 47 Apr 86 26 100 58 45 49 May 127 41 17 132 34 62 Jun 3,053 18 23 50 36 51 Jul 53 49 34 19 13 34 Aug 53 32 3 9 6 14 Total 21,027 341 670 1,854 889 311
    • Applications Received:Three Schools Applications by Month % of Pool Less Less Moderate Selective Selective Moderate Selective Selective< Sept 28 26 92 0.80% 2.00% 4.70% Sept 256 8 155 7.50% 0.60% 8.00% Oct 354 32 269 10.30% 2.40% 13.90% Nov 417 71 317 12.20% 5.40% 16.30% Dec 457 76 498 13.30% 5.80% 25.70% Jan 610 135 320 17.80% 10.20% 16.50% Feb 615 177 116 18.00% 13.40% 6.00% Mar 283 175 100 8.30% 13.20% 5.20% Apr 152 174 38 4.40% 13.20% 2.00% May 113 181 23 3.30% 13.70% 1.20% Jun 68 101 7 2.00% 7.60% 0.40% July 49 114 2 1.40% 8.60% 0.10% Aug 24 56 3 0.70% 4.20% 0.20% Total 3426 1321 1940 100% 100% 100%
    • Communication Planning After Review of Monthly Audit• Moderate-Selective - Largest block of applications received Dec, Jan, Feb - Communication Plan is as follows (90 days prior to December) - September 1 - first view book - September 15 - campus visit invitation - September 22 - dean’s letter - October 15 - second view book - During this time, a series of 8 interactive emails and 4 paper contacts should be distributed
    • Managing Key Performance Indicators: Tracking Enrollment by EFCs CBU: First-Year Student Applicants by EFC - to Enrollment - 2010 % of % of % of % of % of Application Accepted Enrolled Application- Accepted- Applied Pool Accepted Pool Enrolled Pool Enrolled EnrolledFAFSA EFC "0" 371 20.00% 173 19.50% 81 27.90% 21.80% 46.80%1- 3000 116 6.20% 87 9.80% 39 13.40% 33.60% 44.80%3001 - 6000 66 3.60% 47 5.30% 23 7.90% 34.80% 48.90%6001 - 10000 73 3.90% 58 6.50% 24 8.30% 32.90% 41.40%10001 - 15000 86 4.60% 72 8.10% 24 8.30% 27.90% 33.30%15001 - 20000 46 2.50% 41 4.60% 14 4.80% 30.40% 34.10%20001 - 25000 51 2.70% 45 5.10% 17 5.90% 33.30% 37.80%25001 - 30000 39 2.10% 38 4.30% 11 3.80% 28.20% 28.90%> 30000 102 5.50% 96 10.80% 39 13.40% 38.20% 40.60%NO FAFSA 904 48.60% 232 26.10% 18 6.20% 2.00% 7.80%TOTAL 1854 100.10% 889 100% 290 100% 15.60% 32.60%
    • First-Year Conversion Rates by Financial Aid Status 1000 900 47% Conversion 800 316 700 600 7.7% 52% Conversion 500 Conversion Enrolled 400 Accept 300 669 18 200 69 100 232 131 0 Need FAFSA No Need No FAFSAIf you think 7.7% is low, at a selective school the rate was 9.9%, at a large private the rate was 12.8%!
    • Communication Plan: Financial Aid• If enrollment increases from 7% to 30%, or 42% if a family completes a FAFSA, monitor the filers carefully − How many of you know your FAFSA conversion rates? − Have your prepared a communication track for these students at the different levels?• One plan: − In March, we looked at FAFSA filers – we were down 150 filers − Initiated a quick phone campaign – now up 7.4% in FAFSA filers – REMEMBER: 30%-42% ENROLL!
    • Managing Key Performance Indicators: Monthly Timing Audit• What is the purpose of your scholarship program? − Is it to recruit “top level” students? − Is it to build your application pool?• When does your scholarship recruitment plan begin? − Too often it begins with the applicant (we found a good applicant – let’s work hard to enroll them) − Needs to start at the suspect stage
    • Scholarship Communication Plan and Outcomes Scholarship FunnelSuspects Applications Accepted Enrolled9246 596 546 169Conversion Rates 6.40% 91.60% 31%• Buy a scholarship pool separate from your Search pool• Communicate with scholarship pool using a separate communication plan• The goal is more applications!
    • Review of Communication Strategy• Divide your communication program into recognizable tracks or plans• Set benchmarks for success in each model• Conduct your admissions/marketing audit as a part of your communication plan – a necessary step in your planning process
    • Develop a Communication Plan For Each ofYour Major Pools of Students: Prospects • Prospects (names you buy): Noel Levitz survey finds the median contact rate is 5 times with each record – one school 52 times. How many contacts do you have with these students? What media mediums do you use? • Search: Gillis response rate 9.1%, but an increase from 7.1 to 9.3% with multiple channels of communication.
    • Develop a Communication Plan For Each ofYour Major Pools of Students: Inquiries • Inquiries: If the median contact rate is 10 – what is your contact rate? Are your markets tracking at the same rate of return? Have you looked at Primary, Secondary and Tertiary markets for conversion rates?
    • Develop a Communication Plan For Each ofYour Major Pools of Students: Applicants • Applications or acceptances: If the median contact rate is 10 – what is your contact rate? Are your markets tracking at the same rate of return? Have you looked at Primary, Secondary and Tertiary markets for conversion rates? • 27% of schools dissatisfied by search results were dissatisfied by the enrollment results (Gill 2010).
    • Takeaways• Know thy self: You have an advantage over many private schools − Your conversion rates reflect this − Your application pools should reflect more affinity with your group• The Enrollment Funnel does NOT work by gravity – monitor, plan and react – continuous process• Campus visits − Numbers – benchmarks by time − Affect on your communication plan − Affect on financial aid − If you want more visitors early, plan your communication plans early − If you need more attention from high EFC students – must be done early• Timing of inquiries and applications − Are your early inquiries benefiting your school? − How do the timing of inquires affect your communication plan? − Know your timing patterns for your school, plan your communication plan after the receipt of those inquiries
    • Takeaways• Financial Aid − Know your conversion yields − Where are your needs? Low EFCs? Mid Range EFCs? − Plan a communication plan that accounts for your social economic mix. Work your strengths first.• Monthly Application Audit − Know your school’s plan − Plan your communication plan to fit your monthly audit scheme• Scholarship Recruitment − Know your objectives: Scholarships should attract more students to your application pool − Communicate separately and often prior outside the traditional communication tracks − Buy a boutique list of scholars and work them as a separate search pool
    • Questions? Contact us at lylek@plattformad.com or jschlimm@cbu.edu