Why Admission Data is so Important to Word of Mouth


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Why Admission Data is so Important to Word of Mouth

  1. 1. Presented by Rick Newberry, Ph.D. Rick.Newberry@EnrollmentCatalyst.com www.EnrollmentCatalyst.com © 2013 Enrollment Catalyst
  2. 2. }  }  Word of mouth is the primary source that prospective parent first discover your school. While we know this to be true, most of our schools don’t utilize their admissions data to develop and direct their word of mouth marketing plan. During this webinar we will discuss ways to measure word of mouth and to focus on admissions data including inquiry sources, new parent surveys, parent satisfaction and Net Promoter Scores as a way to inform your word of mouth marketing strategy.
  3. 3. Family Starbucks Coach Blog
  4. 4. President, Enrollment Catalyst }  Enrollment and Marketing Strategy Coach }  Blog at www.enrollmentcatalyst.com/blog } 
  5. 5. 7
  6. 6. Enrollment Catalyst partners with schools to provide coaching for school leaders in their school’s enrollment management and marketing systems, strategies, and solutions needed to reach their goals.
  7. 7. The power of word of mouth marketing at your school.
  8. 8. 11
  9. 9. Recommendations from friends }  Research online }  12
  10. 10. }  We rely upon word of mouth in our own buying decisions.
  11. 11. Word-of-mouth is the number one way that parents first find out about your school.
  12. 12. WOMbound Marketing
  13. 13. WOMbound “WOMbound is the intentional and proactive strategy to generate, facilitate and inspire word of mouth through your advocates. It is how brand advocacy works by harnessing the power of word of mouth to reach your potential customers most effectively.” •  Rick Newberry, Enrollment Catalyst
  14. 14. Ø  Ø  Ø  Ø  Ø  Ø  Ø  Ø  Ø  New media Web-based Pull Listen Engage Hub Authentic Content Stories Ø  Ø  Ø  Ø  Ø  Ø  Ø  Ø  Ø  Old media Traditional Push Interrupt Broadcast Megaphone Slick Ads Slogans Ø  Ø  Ø  Ø  Ø  Ø  Ø  Ø  Ø  People Mouth Advocate Share Relate Conversation Trustworthy Experience Credibility
  15. 15. WHAT IS WORD OF MOUTH MARKETING? “So what is word of mouth marketing? In this book, I define it as ‘Giving people a reason to talk about your stuff, and making it easier for that conversation to take place’.” •  Sernovitz, Word of Mouth Marketing
  16. 16. “Word of mouth marketing only works if you have good products and services. It only works if people like you and trust you.” •  Sernovitz, Word of Mouth Marketing
  17. 17. Advocates Ambassadors Word of Mouth
  18. 18. “You may spend millions of dollars on elaborate marketing campaigns. But there is nothing more powerful than a trusted recommendation from a Brand Advocate.”
 •  Rob Fuggetta, Brand Advocates: Turning Enthusiastic Customers into a Powerful Marketing Force
  19. 19. “The best marketing is the kind you don’t buy.” “If parents are satisfied, you won’t have to spend a dime to advertise. We talk continually about the education of our children.” Your best marketing is with current parents and students being satisfied with their education. “
  20. 20. “Stop spending so much money. Word of mouth from satisfied families is your best marketing. An ad is not going to influence anyone.” “When you have a great product, it is much easier to market and word of mouth will be much stronger.”
  21. 21. Quality Experience Satisfaction Trust Service Word of Mouth Stories
  22. 22. If we know that word of mouth drives interest in our schools, then what should we look for in our admission/enrollment data? }  How can our admission/enrollment data inform our word of mouth marketing strategy? } 
  23. 23. }  Some schools lack the data knowledge and understanding to help guide their enrollment and marketing effort.
  24. 24. Understanding your enrollment and marketing dashboard. 29
  25. 25. Enrollment Goals }  Admissions Funnel }  New Family / Inquiry Sources }  Web Stats }  Social Media }  Retention and Parent Satisfaction }  Net Promoter Score }  Prospect Modeling and Targeted Advocacy } 
  26. 26. }  Develop specific enrollment goals for the following areas: ◦  Total Enrollment ◦  Retention ◦  Admissions –  –  –  –  –  Inquiries Campus Visits Applications Deposits New students
  27. 27. A look at the traditional admissions funnel and how it has changed today. 32
  28. 28. Prospects Inquiries Campus Visits Applications Admits Deposits Enrollees
  29. 29. Prospects Inquiries Campus Visits Applications Admits Deposits Enrollees
  30. 30. How many inquiries do you need to produce the number of applications and new students you want? }  How many applications do you need to produce the number of new students you want? } 
  31. 31. }  Provides a snapshot overview of the re-enrollment of current families and enrollment of new families.
  32. 32. Re-Enrollment Data }  Funnel Data }  ◦  Inquiries ◦  Campus Visits/Tours ◦  Applications, Stealth Applicants ◦  Admits ◦  Enrollees Yield Rates }  Comparison to Previous Year } 
  33. 33. Knowing where your inquiries come from can help you better understand sources and WOM. 39
  34. 34. }  How did you hear about the school? ◦  Inquiry call ◦  Web form ◦  Campus visit ◦  Application
  35. 35. It is important to record and measure your inquiry sources. }  Try to get specific information about word of mouth by recording the referring “mouth.” }  ◦  Who referred the school to the prospective parent? –  –  –  –  –  Current parent Faculty/Staff Board member Friend Alumnus
  36. 36. }  If you know the source of your inquiries, you can determine your inquiry source yield rate.
  37. 37. Through Web analytics you can better understand your prospective parents and the linkage to WOM. 43
  38. 38. Overall visits to your school’s website }  First time visits }  Bounce rate }  Average time on your school’s website }  Most popular page visits }  Leads generated and converted }  Sources } 
  39. 39. Likes and Followers }  Engagement }  Mentions } 
  40. 40. }  Measure your Pay-Per-Click (PPC) ad performance: ◦  Clicks ◦  Leads ◦  Use landing pages to convert leads ◦  Yield
  41. 41. }  Be aware of what others are saying about your school in online reviews: ◦  GreatSchools ◦  SchoolDigger ◦  PrivateSchoolReview ◦  Google ◦  Yelp ◦  Facebook
  42. 42. }  Use a site like Mention to monitor when your school is mentioned online.
  43. 43. An annual new parent survey can give you valuable data to better understand the power of word of mouth 50
  44. 44. Conduct an a new parent survey just after the start of the school year to measure the results of your enrollment and marketing effort. }  Use a combination of quantitative and qualitative questions. } 
  45. 45. How the parent first heard of your school }  Awareness of specific marketing initiatives }  Evaluation of admissions, marketing, communications, orientation }  Reasons why the parent selected your school }  What the parent likes best about the school so far… }  What the parent likes least about the school so far… } 
  46. 46. A strong parent retention rate and satisfaction rate is the foundation for positive word of mouth. 53
  47. 47. Strong Retention High Parent Satisfaction Positive Word of Mouth
  48. 48. The mark of a great school will include a retention rate of 90% or higher. }  Measure your retention rate: }  ◦  Overall ◦  By grade level
  49. 49. Conduct an annual parent survey to measure satisfaction. }  Conduct focus groups to provide a “thick description” for your research. } 
  50. 50. Based on your experiences at the school, how satisfied are you with the following areas? }  Likert scale: }  ◦  Very Satisfied ◦  Satisfied ◦  Somewhat Satisfied ◦  Neutral ◦  Somewhat Dissatisfied ◦  Dissatisfied ◦  Very Dissatisfied
  51. 51. What do you like best about your school? }  What do you like least about your school? }  How can the leadership improve the school? }  Please provide the reason(s) why you are unsure of your child’s continued enrollment at the school. } 
  52. 52. Parent satisfaction is the key for retaining families at your school. }  The higher the satisfaction level, the higher the commitment and likelihood of your parents to stay and pay for another year. } 
  53. 53. Measuring your NPS can help you better understand the potential power of WOM at your school. 60
  54. 54. }  On a scale from 0 to 10, with 10 being very likely, how likely are you to recommend a friend to your school?
  55. 55. Score of 9 or 10 }  Loyal enthusiasts who keep returning and refer others, fueling growth. } 
  56. 56. Scores of 7 or 8 }  Satisfied or unenthusiastic parents who are vulnerable to other options; may have some concerns but continue to stay the course } 
  57. 57. Scores from 0 to 6 }  Unhappy parents who can damage your school’s brand and impede growth through negative word of mouth. } 
  58. 58. %Promoters - %Detractors = NPS
  59. 59. }  “Net Promoter assumes that everyone who is not likely to recommend is an active detractor. WoMI solves that problem by adding a second question, thereby asking customers how likely they are to recommend and how likely they are to detract.”
  60. 60. }  “How likely are you to discourage others from doing business with this company?” ◦  Freed, Larry (2013-09-16). Innovating Analytics: Word of Mouth Index- Use the Next Generation of Net Promoter to Increase Sales and Drive Results
  61. 61. www.wordofmouthindex.com
  62. 62. Your annual parent satisfaction survey can provide a great opportunity to ask these important questions. }  You could also ask this question when parents re-enroll. } 
  63. 63. Using data to drive word of mouth conversations between advocates and prospects. 73
  64. 64. }  Using admissions data to drive word of mouth. ◦  Predictive modeling to develop a target profile of likely prospects. ◦  Purchase database of likely prospects. ◦  Overlay prospects on a map with current parents, faculty, board and alumni. ◦  Utilize outreach strategies to reach prospects through word of mouth from nearby advocates.
  65. 65. Some concluding thoughts about using admissions data to inform your word of mouth marketing strategy. 75
  66. 66. Enrollment Goals }  Admissions Funnel }  New Family / Inquiry Sources }  Web Stats }  Social Media }  Retention and Parent Satisfaction }  Net Promoter Score }  Prospect Modeling and Targeted Advocacy } 
  67. 67. Insight into the effectiveness of our WOM campaign and inquiry sources }  Helps us understand the power and influence of WOM }  Guides us to improve our WOM marketing strategies and recruitment outreach } 
  68. 68. Questions and Answers
  69. 69. For More Information: Enrollment Catalyst Rick Newberry, Ph.D. 9770 Indian Key Trail Seminole, FL 33776 727.647.0378 Rick.Newberry@enrollmentcatalyst.com www.EnrollmentCatalyst.com © 2013 Enrollment Catalyst