Declines in inquiry volumes and conversions accelerated in October.
- Inquiry volumes were down 32%, much more than in prior months.
- Conversion rates dropped to the lowest levels since November 2012.
- The declines hit both on-line and on-ground programs, with on-line hit harder.
- The declines hit both internal and external inquiries.
- We believe that different institutions experienced a range of trends:
–– Strugglers: Some struggling institutions received sharply fewer inquiries and converted fewer of the ones they did receive.
–– Shifters: Some institutions shifted their marketing spend away from paid leads. Sustainers: Some institutions largely escaped these broad market declines.