Advancing the Art of Admissions through Science
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This document presents a market segmentation analysis of the global graduate management education (GME) market. It identifies 7 key applicant segments based on motivations for pursuing GME and selecting schools. The segments are Status Seekers, Global Strivers, Balanced Careerists, Career Revitalizers, Socio-Economic Climbers, Skill Upgraders, and Impactful Innovators. For each segment, the core motivation, location preferences, personality traits, and school selection criteria are described. The analysis aims to help GME schools better understand prospective students, tailor their marketing and programs, and improve recruitment outcomes. Next steps discussed include operationalizing the findings and integrating them into school systems and strategies.
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Advancing the Art of Admissions through Science
- 1. © 2016 Ipsos 1 Advancing the Art of Admissions through Science: Segmentating the Global GME Market June 2016
- 2. © 2016 Ipsos 2 AGENDA Overview of the Market Benefits of a Market Segmentation Unveil 7 Global Segments Applying to Schools
- 3. © 2016 Ipsos COUNTRIES STUDIED 3 China Indonesia India Nigeria South Africa South Korea Russia USA Mexico Brazil UK Canada France Germany Turkey
- 4. © 2016 Ipsos 4 20-45 years old applied GME POPULATION STUDIED
- 5. © 2016 Ipsos GAME TIME: SEE HOW WELL THE AUDIENCE KNOWS THE MARKET 5
- 6. © 2016 Ipsos Non Business Undergraduate Program First Generation 32% 6 57% What proportion of all GME applicants come from a non- business background? What proportion of all GME applicants are the first in their families to attend university?
- 7. © 2016 Ipsos Number of Schools GMAT or GRE 2.4 7 On average, how many different schools do GME applicants apply to? 43% What proportion have taken or planned to take the GMAT or GRE?
- 8. © 2016 Ipsos AUDIENCE NOW OFF THE HOOK 8
- 9. © 2016 Ipsos LOCATION OF SCHOOL ATTENDING 9 Current Country Different Country, Same Continent Different Country, Different Continent 79% 10% 11% within commuting distance different country, in a location that requires relocation 6% 4% within commuting distance another part of country that requires relocation 59% 20% 1 in 3 applicants will relocate to pursue a GME
- 10. © 2016 Ipsos MOST CHALLENGING ASPECT OF APPLICATION PROCESS 10 school selection preparing for admission exams obtaining info on schools & program funding19% 8% 19% 13% 29% 12% time/scheduling issues gathering/ completing documents
- 11. © 2016 Ipsos 11 Pursuing GME TOP MOTIVATIONS Management skills Specific skills Career advancement Leadership skills Fulfilling career
- 12. © 2016 Ipsos 12 TOP MOTIVATIONS Selecting School Quality faculty Good reputation Academic reputation Program meets needs Highly ranked
- 13. © 2016 Ipsos MARKET SEGMENTATION 13
- 14. © 2016 Ipsos WHY SEGMENT THE GME GLOBAL MARKET? 14 Identify and target high- priority applicants Provide applicants with most pertinent information/services Create more powerful and cost-effective marketing initiatives Create more compelling productsTailor program and service development to School’s student profile
- 15. © 2016 Ipsos APPROACHES TO SEGMENTATION 15 demographic geographic behavioural gender income age motivations category usage product usage brand loyalty psychographics values attitudes countries neighborhoods regions
- 16. © 2016 Ipsos BENEFITS OF THIS SEGMENTATION APPROACH 16 UNIVERSAL AVOIDS CULTURAL BIAS STABLE
- 17. © 2016 Ipsos 17 MOTIVATIONS Pursuing GME Selecting Schools
- 18. © 2016 Ipsos 18 27% 14% 10% 13% 11% 13% 12%
- 19. © 2016 Ipsos Status Seekers 27% 19 Global Strivers 14% Balanced Careerists 10% Impactful Innovators 12% Skill Upgraders 13% Socio-Economic Climbers 11% 13% Career Revitalizers
- 20. © 2016 Ipsos I’D LIKE TO INTRODUCE YOU TO …
- 22. © 2016 Ipsos Core motivation: A GME degree will give me the status and respect I crave STATUS SEEKERS Increase Status among Colleagues Make my Parents Proud Be a Role Model
- 23. © 2016 Ipsos Location I’d like to experience by moving there STATUS SEEKERS Increase Status among Colleagues Make my Parents Proud Be a Role Model
- 24. © 2016 Ipsos STATUS SEEKERS If you don’t advance or get promoted, you are a failure
- 25. © 2016 Ipsos 1.5xto pursue GME at parents’ recommendation Recofromfriends, family&colleagues SCHOOL SELECTION alumniareknown corpleaders to apply 4+ schools multiple prog. @ same school 33%more likely STATUS SEEKERS Total
- 26. © 2016 Ipsos GLOBAL STRIVERS
- 27. © 2016 Ipsos Core motivation: I’m committed to exploring the world of opportunities that awaits Improve my Management Skills GLOBAL STRIVERS Access to Employment in other Countries Gain International Exposure
- 28. © 2016 Ipsos Degree recognized by global employers GLOBAL STRIVERS Improve my Management Skills Access to Employment in other Countries Gain International Exposure
- 29. © 2016 Ipsos I like to challenge myself, and I’m optimistic about the future GLOBAL STRIVERS
- 31. © 2016 Ipsos Core motivation: I want to advance, but School must not disrupt my life Have a more Fulfilling Career BALANCED CAREERISTS Provide Stability in my Career Earn more Money
- 32. © 2016 Ipsos Nearby so I can commute from home BALANCED CAREERISTS Have a more Fulfilling Career Provide Stability in my Career Earn more Money
- 33. © 2016 Ipsos It’s never too late to return to school BALANCED CAREERISTS
- 35. © 2016 Ipsos Core motivation: I need to take my career to the next level to be successful Reinvent Myself CAREER REVITALIZERS Advance Career more Quickly Have more Control of my Future
- 36. © 2016 Ipsos High quality instructors / faculty CAREER REVITALIZERS Reinvent Myself Advance Career more Quickly Have more Control of my Future
- 37. © 2016 Ipsos I don’t want to be left behind CAREER REVITALIZERS
- 38. © 2016 Ipsos SOCIO-ECONOMIC CLIMBERS
- 39. © 2016 Ipsos Give my Children a Better Future SOCIO-ECONOMIC CLIMBERS Core motivation: I want to achieve everything my parents could only dream of Improve Socio- Economic Status Earn more money
- 40. © 2016 Ipsos Excellent academic reputation SOCIO-ECONOMIC CLIMBERS Give my Children a Better Future Improve Socio- Economic Status Earn more money
- 41. © 2016 Ipsos Making a lot of money is the best indicator of success SOCIO-ECONOMIC CLIMBERS
- 42. © 2016 Ipsos SOCIO-ECONOMIC CLIMBERS earnmoremoney TWO DYNAMICS fulfillingcareer improvesocio- ecostatus Total Have a check list: Strong academic reputation Proven record Grads have better job opportunities
- 44. © 2016 Ipsos Core motivation: I want to be recognized for my expertise SKILLUPGRADERS Improve my Leadership Skills Improve Specific Skills Become an Expert in Field
- 45. © 2016 Ipsos Recommended highly by my employer SKILLUPGRADERS Improve my Leadership Skills Improve Specific Skills Become an Expert in Field
- 46. © 2016 Ipsos I prefer to spend time alone, but I do want to feel part of a community SKILLUPGRADERS
- 48. © 2016 Ipsos Improve Specific Skills Skills to have Social Impact Improve my Leadership Skills Core motivation: I have great ideas – I just need the skills to bring them to life IMPACTFULINNOVATORS
- 49. © 2016 Ipsos Specific program that meets my needs Improve Specific Skills Skills to have Social Impact Improve my Leadership Skills IMPACTFULINNOVATORS
- 50. © 2016 Ipsos I am curious person, and I like to continuously discover new things IMPACTFULINNOVATORS
- 51. © 2016 Ipsos entrepreneurs160%more likely Attend school on different continent 2xas likely Have a check list: High academic reputation High quality faculty IMPACTFULINNOVATORS
- 52. CORE MOTIVATIONS 52 Skills Career Status Financial Success Status Seekers Socio-Economic Climbers Impactful Innovators Skill Upgraders Global Strivers Career Revitalizers Balanced Careerists
- 53. © 2016 Ipsos APPLYING TO SCHOOLS 53
- 54. © 2016 Ipsos PUTTING SEGMENTATION INTO ACTION 54 Survey Predictive Model mba.com Your school SEGMENTS
- 55. © 2016 Ipsos 55 Facilitate/Consolidate access to information about School & Programs Opportunity Famous alumni Emphasize prestige of MBA/GME Reach out at Undergraduate stage Marketing & Communications GME graduates are part of an elite club Positioning HOW TO CONNECT WHAT TO PROMOTE VALUE PROPOSITION STATUS SEEKERS
- 56. © 2016 Ipsos 56 CLIMBERS Scholarship/funding programs Mentorship programs Assistance with exam preparation Opportunity Aspirational bios of alumni who have succeeded against the odds Successful job-placement programs Economic value of MBA/GME Marketing & Communications A GME can help you bring your dreams to life Positioning HOW TO CONNECT WHAT TO PROMOTE VALUE PROPOSITION SOCIO-ECONOMIC CLIMBERS
- 57. © 2016 Ipsos 57 Scholarship/funding options Courses/programs on entrepreneurship Assistance with exam preparation Opportunity Detailed info on course content/skills taught Presence on School Ranking Lists Alumni who are successful entrepreneurs Networking events with entrepreneurs A GME degree will give you the skills and connections to change the world Positioning Marketing & Communications HOW TO CONNECT WHAT TO PROMOTE VALUE PROPOSITION IMPACTFULINNOVATORS
- 58. © 2016 Ipsos WHAT DOES THIS MEAN FOR YOU? 58
- 59. © 2016 Ipsos NEXT STEPS 59 SEGMENTSVisit the GMAC booth to find out more! Survey Predictive Model mba.com Your school © 2016 Graduate Management Admission Council® mba.com 1 2 3 4 5 6 7 Segment identification “Global Strivers” Potential Application Research Marketing Playboo What else? • How else might you u • What could GMAC do it more actionable? Integration with your systems? Advocacy & Pipelin Development Operationalizing Findings PotentialApplications Advocacy & Pipeline Development Research Marketing Playbooks Integration with your systems? What else? • How else might you use it? • What could GMAC do to make it more actionable?
- 60. © 2016 Ipsos 60 Thank you carla.flamer@Ipsos.com lisa.prenol@Ipsos.com
Editor's Notes
- As an organization, GMAC is working to advance the “art and science” of admissions. This study addresses the science aspect of that equation – helping us to better understand the target – GME applicants.
- Research was conducted in 15 countries, selected to represent the largest markets of GME applicants 6,000 interviews completed in March/April of 2016
- Study was conducted among 20-45 year-olds who applied to a GME program from January 2014 to April 2016 We excluded those who have already graduated from the program Unlike some of the research you’ve seen in the past, this study includes a much broader population of GME applicants – not just those who are applying to globally accredited schools, or those who are using the GMAT. So, make sure to keep that in mind as we share the results with you today
- 57% of Applicants graduated from a Non-Business Undergraduate Program 32% of Applicants are the first generation in their family to have achieved higher-level education (post high school)
- Applicants apply to 2.4 schools on average Only 43% have taken or plan to take the GMAT or GRE exam. If this number is surprising to you, remember this study is based on the broader, global GME market -- not just GMAT or GRE users
- While more than half of applicants plan to attend a school within commuting distance, 1 in 3 will re-locate to: Another part of the country (20%) Different country on same continent (4%) Different continent (11%)
- As applicants work through the various stages of the application process, from researching schools and programs, to actually submitting an application, they face a number of challenges that can potentially derail them The most challenging aspects are: Preparing for admissions exams (29%) Obtaining information about schools and programs (19%) Funding their education (19%) Detail about what items are included in each category: Preparing for Admissions exams includes: Studying for exams Taking exams Deciding which exam to take Funding includes: Obtaining funds/financing for grad school Finding info on scholarships/ financial aid Obtaining Info on Schools & Programs includes: Info about types of programs Info about program eligibility requirements Info about School’s faculty & curriculum Info about School’s ranking & reputation School selection includes: Narrowing down list of potential schools Being able to visit school before applying Not getting accepted into first choice/target school Time/Scheduling issues includes: Finding time to prepare/apply to grad schools Meeting application target / due dates set by grad schools Keeping track of multiple School’s application deadlines Starting program at a specific time Gathering / Completing documents includes: Gathering transcripts & docs required for application process Obtaining visa and/or travel docs Having to complete separate applications when applying to multiple schools or programs
- Many different factors may motivate someone to apply for a GME. Out of 32 possible motivations, these are the 5 that rose to the top. 3 of the top 5 motivations are related to skill development: Improving management skills Improving specific skills (such as accounting, economics, etc.) Improving leadership skills
- And out of 29 possible motivations for selecting a specific School, the quality and reputation of the School and its faculty are paramount
- Segmentation is an effective tool for marketers to identify and target specific groups of people. By identifying groups of applicants who share specific characteristics, behaviors or attitudes, you can: CREATE More powerful and cost-effective marketing initiatives More effective communications More compelling products PROVIDE Applicants with the most relevant information/services TAILOR Programs and services to School’s student profile
- Segmentations can be built in a number of different ways, using demographic, geographic, behavioural or motivational data Here are a few examples of the types of variables that can be used to profile segments for each of the segmentation approaches Many Schools are already doing some type of segmentation of their candidates; however, most segmentations in the GME category tend to be based on demographic or geographic segmentations. Candidates may be categorized by age or location, or the type of program they are interested in studying. This segmentation study is based on motivations – the deep, core needs that drive applicants to pursue a GME degree
- What makes this segmentation so powerful? Universal: Gets at the core needs that drive behaviour – these go deeper than demographic or geographical characteristics A global segmentation that is relevant for all countries Can be easily extended to other countries in future studies Avoids Cultural Bias: Agree/disagree or preference questions that use scales can produce very different results from one country to another – simply due to the way people in that country use scales. For this study, respondents were shown multiple sets of statements, and for each set, were asked to select the statement that best describes them and the statement that least describes them In this way, we were able to avoid the cultural bias inherent in scaled questions Stable: Motivations are unlikely to change in the short-term, giving the segmentation a longer life-span This segmentation will allow you to connect with applicants at an emotional level. By tapping into their true needs, you can create messaging that will more effectively resonate with them
- This segmentation was built using 2 sets of motivations: Motivations for pursuing a GME Motivations for selecting a specific school
- This segmentation model includes 7 segments – one segment is a bit larger than the rest; the remaining 6 segments are relatively equal in size
- Next, we’ll introduce you to each of these segments ….
- This is the first, and largest of the 7 segments
- Fundamentally, this segment is looking for status and recognition – they need external validation What makes them so different from other segments when it comes to their motivations for pursuing a GME? They are driven by the desire to: Be a role model Make their parents proud Increase their status among colleagues
- And in terms of their motivations for selecting a school, one of the motivations that makes them unique from other segments is: A desire to go to a school that’s located in a place they’d like to experience by moving there
- What are other things that make the Status Seeker unique? They are more likely than other segments to apply: because parents suggested it (14%) vs. 9% total sample to schools recommended by friends, colleagues, employers to schools with alumni who are corporate leaders to more schools (avg: 2.4 (vs. 2.2 total sample)/ 18% 4 or more (13% total sample)), and to multiple programs at a school (51% vs. 38% total sample) Other differences not included on slide: to full-time (62% vs. 47% total sample), weekday (69% vs. 59% total sample) programs before entering the workplace (53% vs 36% total sample)
- The second segment, which includes 14% of GME applicants, is Global Strivers
- This segment is motivated by a desire to explore opportunities on a global scale The key motivations that differentiate them from others are a desire to: Gain international exposure Have access to employment opportunities in other countries Improve their management skills
- As this segment is focused on international opportunities, it is essential that the GME degree they obtain is recognized by global employers
- Balanced Careerists, representing 10% of the GME applicant market, is the 3rd segment
- As the name suggests, this segment desires balance in their life. They want the financial and career benefits that a GME degree can provide, but school has to fit into their already busy lives Compared to other segments, they are more likely to be motivated to purse a GME in order to: Earn more money Have a more stable career Have a more fulfilling career
- Because convenience is so important to this segment, they want to go to a school that’s nearby so that they can commute from home And in keeping with the theme of convenience, they also value schools that offer online classes or programs
- Career Revitalizers is the 4th segment, accounting for 13% of the market
- Career Revitalizers are driven by career concerns – they recognize that they have to up their game if they want to keep moving ahead The key motivations that make them stand out from other segments are the desire to: Have more control of their future Advance in their career more quickly Reinvent themselves
- With their future career success on the line, this segment values a school that is known for having high quality faculty members
- Fear of being left behind is an underlying driver for this segment
- The 5th segment, accounting for 11% of the GME market is: Socio-Economic Climbers.
- As their name suggests, this segment is motivated by a desire to elevate their economic or social standing. They want to have access to more than their parents did, and in turn, provide their children with a better life To a greater extent than other segments, this segment is motivated to pursue a GME in order to: Earn more money Improve their socio-economic status To give their children a better future
- When this segment is deciding which GME school to attend, they are more likely to consider a school which has an excellent academic reputation
- What makes Climbers unique?: Compared to other segments, they are more likely to: be equally driven to improve their economic standing and to achieve a stable, fulfilling career – they don’t want one without the other As we saw earlier, they are looking for a School which has a strong academic reputation And they want to be sure there will be a job for them when they graduate – they are more likely than other segments to select a school that turns out graduates who obtain better job opportunities
- Skill Upgraders are the 6th segment, accounting for 13% of the GME market
- Skill Upgraders want to be perceived as experts, so skill development is a key motivation for them
- When they are considering which GME school to attend, they are more likely than other segments to select a school which has been highly recommended by their employer
- The last of the 7 segments is Impactful Innovators – they represent 12% of the GME market
- To an even greater extent than the Skill Upgraders, this segment is motivated to pursue a GME in order to develop their skills – whether it be specific skills such as accounting or entrepreneurship, or leadership skills More than any other segment, Impactful Innovators also want to develop skills that will allow them to have a greater social impact or improve their community
- When they’re evaluating Schools, Impactful Innovators are more likely to select a school that has the specific program that meets their needs
- What makes Impactful Innovators unique from other segments? More likely than other segments to: be self-employed (13% vs. 5% total sample), and want to start/run their own business be attending a school on a different continent They are also more likely to: seek out a School with a high quality academic reputation and high quality Faculty
- We’ve been looking at some of the things that differentiate the segments, but we can also look at where segments have some commonality. “Status Seekers” are more concerned with status and recognition than any other segment, but like Balanced Careerists and Socio-Economic Climbers, they are more focused on improving their financial standing than developing new skills Three segments (“Socio-Economic Climbers,” “Balanced Careerists,” and “Career Revitalizers”), are driven to a greater extent by career goals, and two segments (“Impactful Innovators” and “Skill Upgraders”), by skill development. The “Global Striver” segment straddles the “career” and “skill” group – in order to be eligible for the international job opportunities they desire, they recognize the need to build strong skills
- So how can this segmentation benefit your School? A key component of the segmentation is the predictive model (sometimes called a typing tool) which can be used to classify applicants into segments by using a few questions from the original survey A version of the tool will be integrated into the mba.com website, so that anyone coming to the site will be assigned to a segment after answering a few questions With this added piece of information, GMAC will be able to provide schools with more streamlined lists of potential applicants. For example, a School that is interested in targeting students from the “Global Striver” segment can request a list of only “Global Striver” applicants. Not only will the School be able to streamline its efforts to reach “Global Striver” respondents, but armed with the information from this segmentation study will better understand what motivates that segment, identify opportunities to make the School a more attractive option for that segment, and understand how to market and communicate with that segment most effectively The predictive model can also be incorporated into future research studies
- Let’s take a look at how the insights obtained from this segmentation study can help you attract and meet the needs of applicants more effectively. We’ll start with the Status Seeker segment – what can you do to better connect with Status Seekers, and which types of marketing initiatives will have the most impact on them How to Connect: The biggest challenge faced by Status Seekers in the application process is obtaining information about Schools and programs. This includes information about types of programs, program eligibility, as well as information about specific schools: School ranking, faculty, and curriculum Consider finding ways to bridge this information gap to keep them from abandoning their search prematurely What to Promote: This is the most status-conscious segment, so they would be most receptive to messaging that speaks to the prestige of the degree, and the social benefits that it confers Famous alumni can be incorporated into marketing efforts, as this segment is more likely than other segments to select a School which has alumni who are corporate leaders or a school with a strong alumni network More than half of applicants in this segment applied to a GME program before entering the workplace – start reaching out to them while they are enrolled in their undergraduate programs
- How to Connect: Applicants from the Socio-Economic Climber segment see a GME degree as a means to improve their socio-economic standing – to a greater extent than most other segments, they could benefit from mentorship programs to help them integrate into what may be an unfamiliar world Climbers could also benefit from assistance in the areas of funding and exam preparation, as these are key challenges for this segment What to Promote: Communications should be aspirational in tone – stories of alumni who have risen to prominence from humble beginnings would resonate with this segment More than any other segment, Climbers are motivated to obtain a GME degree in order to make more money – provide them with evidence that your School can help them do that If your School has a successful job-placement program, make sure to incorporate that into marketing materials
- Opportunity: As people in the Impactful Innovator segment are more likely to be self-employed or want to run their own business, they may prioritize schools that offer programs or courses in Entrepreneurship Marketing & Communications: Skill-development is essential to this segment, so they will be responsive to messaging that speaks to the skills they’ll learn When they are assessing schools, they value academic quality and a strong reputation. They are likely to refer to ranking lists to ensure that the schools they are considering score well. If your School appears on ranking lists, make sure that you promote it Alumni who have made it as entrepreneurs or those who are known for their philanthropic work could serve as role models for this segment – use them as aspirational stories in marketing materials
- As mentioned earlier, GMAC is already incorporating this segmentation model into mba.com so that they will be able to classify visitors into 1 of the 7 segments What are some of the ways this information can be leveraged?