How to Increase Registrations and Revenues by Turning Data into Action
How to Increase Registrations and Revenues by Turning Data into Action ACHE 2011 Annual Conference and Meeting Integrating Traditional and Emerging Data into an Executable Communication PlanSteve Blumberg, Director of Strategic Services, DS Graphics Todd Gibby, CEO, Intelliworks email: email@example.com email: firstname.lastname@example.org twitter: @tgibby WWW.DSGRAPHICS.COM WWW.INTELLIWORKS.COM
Demand Has Never Been Higher Less than 16% of those enrolled in higher education -‐22) Over 25 population is the fastest growing segment in higher education Availability of online and hybrid programs makes these programs more accessible than ever before Even in a recession, people are better off with an education than without Increasing cost and scrutiny of for-‐profit educators have made not-‐for-‐profit adult education providers even more appealing
SO WHY IS IT SO HARD? We Find Balance Between Being Efficient & Effective?
Expectations Are Changing Colleges that wish to remain successful inthe face of rapidly changing dynamicsneed to employ a new paradigm, one thatuses more sophisticated search strategiesand new metrics to track and enroll thedesired number of students who are agood fit for the institution Noel-‐Levitz Multiple touch points Preferences vary based on lifecycle Next best thing is always around the corner No single simple solution
Survey Says: Doing More With Less Tough Economy More competition Reduced response rates Changing Demographics Differentiate Messaging Reaching Target Audience Little or no support staff Social Media Reduced budget Proliferation of Online programs Increase competition from For-‐profits Tracking, measuring and evaluating
Survey Says! 100% 90% 80% 70% 60% 50% 40% Very Important 30% 20% Important 10% N/A 0% Less Important Not Important Source: Intelliworks Email Poll of UCEA/Eduventures Members, April 2010
Session 1: The Right Strategy a) Assessing your situation (SWOT) b) Connecting problems to solve (Pain Chain) c) Programming for results (Reference Story) d) Extra Credit: Differentiate (Elevator Pitch)
SWOT: SUNY Oswego Strengths Weaknesses Steady growth Limited resources for New online MBA marketing program; No tracking system Affordable, convenient, No visibility into lead Addresses regional source demand Opportunities Threats New agency partner to Some regional help drive marketing competition Global presence with Decentralized online programs organization Metro branch campus Lack of policy and process Highly politicized culture
Pain Chain: SUNY Oswego Dean Director ofPain: Eroding operating Admissionsmargins; budget cuts Pain: Inability to know / Prospective define student market ;Reasons: Operational slow process / response StudentInefficiency; Declining time to student inquiries Pain: Indecisionenrollment Reasons: Understaffed / Reasons: Limited unfocused; No visibility outreach from into the campaign institution and lack performance or student of relevant enrollment funnel messaging / information.
Reference Story Issue Comments Situation and circumstances? Critical Issue What is the critical Reasons What are the driving forces creating the challenge? Who, What, When, Describe the actions being taken to address the challenge. Where, Why, How Solution Specific actions, initiatives, tactics to improve the situation. Results How and what will we measure to track our progress against goals?
Reference Story Issue Comments Situation SUNY Oswego provides an excellent case of an institution that identified how a CRM strategy could help them reach their marketing objectives. Critical Issue The institution struggled with engaging students and building long-‐term relationships that ultimately led to enrollments. Reasons Their objectives were to support key student decision points and connect with prospects during the decision cycle by uncovering demand, qualifying interest, cultivating commitment and reinforcing decisions Who, What, When, With a full-‐time staff of four, which includes the Dean of Graduate Studies and Research, the Where, Why, How need for a system that will automate communication, data collection, tracking and analysis is imperative to the successful growth of enrollment. Without such a major component, it will be virtually impossible to manage data, track inquiries and build a source for outbound, targeted marketing efforts to engage and communicate with prospective students. Solution Created a multi-‐channel marketing plan that was supported by a flexible CRM solution that allowed them to track day-‐to-‐day interactions with constituents, manage inbound and outbound communications and report on the success of their efforts. Results Identified KPIs for success measurement
Help Me With The Math, Please. 2010 Census Worcester County by Education Level Obtained Total Population 798,552 Population 25-‐40 years and over 92,556 Some college, no degree 87,756
53,020 prospective students divided by 9 colleges and an additional 8 online programs. Of the 53,020 prospective students, how many are interested in going back to school? Of those 53,020 prospective students who are interested in going back to school, how many are interested in you?
1% increase in enrollment requires 7% increase in inquiries
For adults in transition, specific life events set the time on the learning clock. There are millions of potential adult learners who need or want to learn. . . But specific life events are needed to convert most of the latent learners into active learners. Carol Aslanian
The value of knowing what kinds of transitions cause adult learning lies in being able to predict what they will learn. The value of knowing what kinds of events trigger adult learning lies in being able to predict when they will learn. Carol Aslanian
Student Motivations: What They Want Student Motivations Source: Intelliworks LinkedIn Poll, October 2009 (n = 355)
WHY?Understand their decision-making process. Understand their communication style. Discover pain points/barriers to enrollment. Validate or deny your assumptions and avoid stereotypes.
THINKING IN HUMAN TERMS The Doubting Thomas He went straight to work after high school degree, but just got promoted and ant to leave his job.
THINKING IN HUMAN TERMS of your school. And neither have her friends.
THINKING IN HUMAN TERMS The Idea Man own company, and is ready to retire, but affluent professionals like him may prefer to learn at their own pace while enjoying their golden years.
EDUCATION LEVELTOTAL POPULATION Segment Your Market?! G GEOGRAPHY E ETHNICITY N D GRADES INCOME E AGE R INDUSTRY PROGRAM OF INTEREST
Session 2: The Right Person a) Understanding field of play (Market Analysis) b) Knowing your customer (Rating Attributes) c) Speaking their language (Creating Personas) d) Extra Credit: Preferences (Channel Choice)
Attribute Rankings Most Geography Most Geography Valuable Accessible Program of Interest Program of Interest Education Level Education Level Industry Industry Grades Grades Income Income Population Population Age Age Gender Gender Ethnicity Ethnicity
Creating Personas PROSPECT A PROSPECT B PROSPECT C What are they like? Why are they here? What keeps them up at night? How can you solve their problem? What do you want them to do? How can you best reach them? How might they resist? Name:
Mapping Objectives Objectives by Discover: Listen: Engage: Support: Decision Uncover Capture / Convey Reinforce Phase Demand Qualify Value Decisions Limited Fragmented Generic Current State Marketing Inquiry Messaging Silence Capture Ubiquitous Strategic Segmented Established Ideal State Outreach Data High Touch Networks Capture SEO / SEM Inquiry Forms Segmented Functional Email & FB Views Comm Outreach Facebook Vision Comm Plans Events /History Events Response Sys
Setting Metrics Reduceabandonment ratesby 20% Increase Y-o-Y inquiries by 15% Reduce by 25% the time itReduce by 45% takes to complete anumber of clicks to Grow enrollments in campaign Growth complete application X program by 25% Maintain inquiry responseImprove satisfaction time under 4500 more Generate hoursrates to >85% at 4- attendees to info Intelligence sessions5. Automate assignment of leads to counselors Quality Efficiency
Preparing For Measurement Define Metrics and Goals: Define global metrics and drive agreement around units of measurement for tracking plan effectiveness. Set goals & objectives that will be measured against in Plan v. Actual format. Report Framework & Frequency: Develop conversion and enrollment reporting framework designed to be updated at defined intervals. Observe : Include a model and placeholders for summary of observations/findings and recommendations. Refine to Optimize Your Programs & Processes: Create a strategy and action plan for deploying additional business units to observe and optimize plan based on reports key findings