Hobsons2011final

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Hobsons2011final

  1. 1. Using CRM to Efficiently Manage Yield A Case Study http://whitman.syr.edu
  2. 2. School of Architecture Introductions College of Arts and Sciences School of Education• Uh, hi! L.C. Smith College of Engineering and• Syracuse University Computer Science • 20, 407 total student population David Falk College of Sport and • 13,504/697 undergraduate Human Dynamics • 4,381/1825 graduate School of Information Studies • 3,700 faculty/staff (“iSchool”) • All 50 states, 124 countries represented The Martin J. Whitman School of Management • Whitman – Founded in 2003 • 3,000 population undergrad/grad Maxwell School of Citizenship and Public Affairs • 550 graduate/doctoral students S.I. Newhouse School of Public Communications College of Visual and Performing Arts University College http://whitman.syr.edu
  3. 3. Introductions• Let’s learn about you!• User timeline (Disclaimer) http://whitman.syr.edu
  4. 4. Agenda• It’s all about the yield! – Definitions and Parameters of case study• Idea generation – How can we monitor, track, and improve our yield, but more efficiently?• Flow chart – who, what, when, where, how• Yield strategy done! Yippee! Now what?• Automate, Record, Deliver – The “musts” of yield strategies• Thoughts for the future http://whitman.syr.edu
  5. 5. It’s all about the yield!• Case study is based solely around improving yield of Full-Time MBA students• Let’s be sure we are all on the same page: – Yield (students admitted that pay their deposit or show intent to matriculate) – Melt (students that deposit that do not show up the first day of onboarding/orientation) Yield strategies typically seek to improve conversion and minimize melt! http://whitman.syr.edu
  6. 6. Its all about the yield!• Timeline of our typical yield strategy (what strategy?)• Identifying the need: past history of applications, selectivity and yield• Assessing the market (insert funny metaphor for super competitive, hair pulling industry) http://whitman.syr.edu
  7. 7. Idea Generation (The 5 P’s)• Communication Plan (one of our favorite terms) – What should be part of this plan? – When should we communicate with the student? – Where do we communicate? – Who should be involved? – Why? Really? I won’t go there – How? How do we organize a plan that is timed, includes key stakeholders, fosters a relationship and provides early social and intellectual integration into our program? http://whitman.syr.edu
  8. 8. Ideas into Action.. http://whitman.syr.edu
  9. 9. Ideas into Action.. http://whitman.syr.edu
  10. 10. Ideas into action…• Let’s break down what we just saw – Immediately following, an email is sent out (along with offer packet) – One week following, Director of Recruitment contacts – Two weeks following, Associate Dean contacts – Decision due emails – More calls (Director of Experiential Learning, etc.) http://whitman.syr.edu
  11. 11. Ideas to action continued… http://whitman.syr.edu
  12. 12. Yield Strategy Done! Yippee! Now what? • Decided on key stakeholders, created a timeline for when to contact and the message to send, provided an export of information to each stakeholder about who to contact • Created filters for the timeline identifying criteria necessary before the next step begins • Carefully document all communications and important dates associated with the student record • Provide templates for stakeholders with email content and student information • Implement triggers for administrative action based upon the status of the student http://whitman.syr.edu
  13. 13. http://whitman.syr.edu
  14. 14. http://whitman.syr.edu
  15. 15. Using CRM to administer, automate,and maintain yield strategies• Break down each component of your yield strategy and ask, “What can Hobsons do”?• Utilize functionality of your CRM in house (emails, exports, and filters)• Tie each step in the process back to a function• Concentrate on what’s important and don’t get fancy. Remember three end goals when integrating: Automate, Record, Deliver http://whitman.syr.edu
  16. 16. Using CRM to administer, automate,and maintain yield strategies• Automate – Create exports/filters that email stakeholders directly instructing them to contact the student (using pre- determined criteria) – Tie these exports not just with email/phone directions, but with administrative directions as well (i.e. grant access to onboarding site) – Queue emails to go out using watched attributes (i.e. alumni ambassador emails) – Let’s Hobson’s tell you when something needs to be done! • Assign http://whitman.syr.edu
  17. 17. Automate using exports http://whitman.syr.edu
  18. 18. Automate using exports http://whitman.syr.edu
  19. 19. Automate using exports
  20. 20. Automate using exportsCreate emails that go outautomatically when an attribute ischanged on behalf of an alumniambassador, faculty, etc.
  21. 21. Automate using exportsRecord actions for yourself: Alumni Ambassador Email? Keep yourself in theloop…
  22. 22. Additional ways to Automateintegrated aspects of your yield strategy Assign student ambassadors ahead of time and tie those assignments with automated messaging later on in the yield strategy
  23. 23. Attribute Use
  24. 24. Using CRM to administer, automate,and maintain yield strategies• Record – Each export and filter is recorded within the student’s record – Have each stakeholder share with you his/her communication (email or phone conversation) and input into record. Yes, this is the most work you’ll have after setup – Using date attributes along with timeline provide you with good cycle times of a student from admit to matric http://whitman.syr.edu
  25. 25. Using CRM to administer, automate,and maintain yield strategies• Deliver – Provide real time yield to those involved with substantive data to support efforts – Improve the quality of yield efforts eliminating hours of auditing records, sending out action items, and manually documenting communications – Enhance your ability to forecast better and increase the likelihood of matriculation. Simply put, perception is everything! http://whitman.syr.edu
  26. 26. Thoughts for the future• Name actions/steps for ease of user• Utilize exports/emails to automate faculty messaging• Integrate VIP page into timeline• Build additional emails post admission/confirmation that are automated (i.e. what to expect, onboarding, etc.)• Branch out to other programs (copy, copy, copy!) http://whitman.syr.edu
  27. 27. ResultsCurrent Yield for FTMBA program as of June 25th is 51%, with active applications still in the pipeline Hopefully, our melt will be zero! http://whitman.syr.edu
  28. 28. Questions?

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