Utilizing the Services Together Matt Krov Assistant Vice President, Austin College Robert Heil Senior Vice President, RuffaloCODY

Transcription

1 Full llstream Ahead Utilizing the Services Together Matt Krov Assistant Vice President, Austin College Robert Heil Senior Vice President, RuffaloCODY Navigating the Admissions Stream Comprehensive Search Services Inquiry Targeting & Management Targeted Application Generation Strategic Financial Aid Analysis & Consulting Retention Modeling & Consulting Enrollment Manager TM Platform EXPERIENCE RESEARCH INNOVATION PARTNERSHIP Today s Discussion Enrollment at Austin College Results Successfully Navigating the Stream What Is On the Horizon Q & A 1

2 Austin College 10,000 Foot View 4 year, residential, co ed liberal arts college Sherman, TX Undergraduate Enrollment 1350 Graduate Enrollment 20 Division III Athletics Austin College On the Ground Prior to ,000+ inquiries 1,600 applications. Typical freshmen class of 320. Staff of 6 traveling territory managers, 2 non traveling, 1 office coordinator, 1 support staff. External uses of staff. Today 20,000 (15,000 inquiries that we focus on) applications 370 freshman projected Staffing at the same level Quick Poll How many of you wake up thinking of one or more of these things? 1. Net revenue 2. Enrollment levels 3. Profile 4. Staff turnover 5. Optimal (or at least not horrible) usage of staff 6. Optimal uses of budgetary resources 7. Which, if any, of the 100 daily solicitations will actually net me enrolled students 8. How do I explain any of this to the stakeholders 9. THIS DOESN T FIT IN THE FUNNEL 2

3 AUSTIN COLLEGE RESULTS Success Begins with Building the Right Inquiry Pool 2.05% 1.4% Search has evolved to become the best performing source. OTHER SOURCES SEARCH Inquiry to Deposit Rates Success Begins with Building the Right Inquiry Pool SEARCH NON RESPONDERS 27% SEARCH RESPONDERS 12% OTHER SOURCES 61% Percentage of enrollment from search 3

4 Targeting and Cultivating the Right Students High Probability High Interest Historical Analysis Low Probability terest Current Int Low Interest High Profile Students Low Profile Students No Interest No Contact Targeting and Cultivating the Right Students 14.10% 2.33% HIGH PROFILE LOW PROFILE Inquiry to Applicant Conversion Rates Targeting and Cultivating the Right Students 34% 84% HIGH PROFILE LOW PROFILE INQUIRIES DEPOSITS 4

5 Targeting and Cultivating the Right Students Impacts Retention 36% 89% HIGH PROFILE LOW PROFILE INQUIRIES SOPH Generating the Right Applicants 10.78% 7.48% Not Sent to RuffaloCODY for TAG TAG Inquiry to Applicant Conversion Rates Generating the Right Applicants 26.81% 10.77% Not Sent to RuffaloCODY for TAG TAG Enrollment Yield (Admit to Deposit) 5

6 Generating the Right Applicants 2.15% 0.61% Not Sent to RuffaloCODY for TAG TAG Inquiry to Deposit Rates Advantages for Austin College 1. Redirect and better invest institutional resources to target those students who were most likely to enroll, thus maximizing the time, money, and resources spent on the right students. 2. Maximize cost savings based on identifying inquirers and applicants who were no longer interested. 3. Meet and exceed enrollment goals. 4. Improve marketing and recruitment efforts to yield a group of students who were ultimately committed and motivated to enroll and persist at Austin College. SUCCESSFULLY NAVIGATING THE STREAM 6

7 Successfully Navigating the Stream 1. The cumulative effect 2. Creating efficiencies 3. Alleviating pressures What Does Full Stream Look Like Creating Efficiency: Multiple data points we know better where we stand. Flexibility we have opportunities to make corrections or supplement based off our data tracking. More on point messaging and segmentation to our inquiry and applicant pool. Confidence in recruiting the right students. Optimize resources. Redefine what you are asking your recruiters to do. ALLOWS OUR STAFF TO BE A DIFFERENIATING FACTOR. What Does Full Stream Look Like Alleviating Pressures: Paradox of the road warrior Stealth apps Paradigm shift of who owns the process now Austin College specific utilization of volunteers, student ambassadors, etc Gaps in communication cycles Playing catch up or staying out front. Nobody is truly working in a funnel anymore. 7

8 ON THE HORIZON Where Will Our Stream Take Us? We now have an operation that clicks on all cylinders not perfect, but nimble and responsive and based on highly accurate performance indicators. So, what is our future focus? 1. Usingthe entire stream, both directions, to find scalable models for our institutional goals. Using comprehensive integration with financial aid data and strategies. 2. Transitioning our existing funnel driven communications. Q & A 8

9 Thank you! For more information contact: Matt Krov Robert Heil