B1 - Top Ten Breakthrough Ideas for Enrollment Optimization
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Transcript of B1 - Top Ten Breakthrough Ideas for Enrollment Optimization
Eureka! Ten Breakthrough Ideas for Enrollment Optimization
A good idea is where you find it(David Holmes)
TABS 2010 Annual ConferenceDavid Erdmann
Dean of Admission & Enrollment, Rollins CollegeDirector, Essex Institute for Independent School Enrollment Management
The future ain't what it used to be(Tom Petty)
Essex Institute
Idea # 1
The house always wins(Danny Ocean)
Idea # 1 Corollary– You can’t beat the house, but you can stay even if you play your cards right
The House Your Cards
• Demographic shifts
• Economic uncertainty
• Changing consumer behaviors
• Educational options
• Family satisfaction with your school and its market position
Essex Institute
Actual and Projected Percentage Changes in Public High School Graduates
(Source: National Center for Education Statistics (NCES)
-30%
-20%
-10%
0%
10%
20%
30%
40%
Connecticut Maine Maryland Massachusetts New Hampshire New Jersey New York Rhode Island Vermont
Per
cent
age
State
2002-2008
2009-2014
California Enrollment Projections White Non-Latino (Source: California Dept. of Education)
90,000
100,000
110,000
120,000
130,000
140,000
150,000
160,000
170,000
180,000
190,000
1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Numbers
Grade 1
Grade 5
Grade 9
Grade 12
Applicants
Visits
Accepts
Enrolled
Inquirers
Universe
Word of mouth Word of mouth Word of mouth
The power of word of mouth
Essex Institute
Top tier schools
Other tier schools
The power of market position
X
“Stronger” Reputation(1:4 Win:Loss Ratio)
“Weaker” Reputation(4:1 Win:Loss Ratio)
(1:1 Win: Loss Ratio)
Essex Institute
Idea # 2
Get it right the first time (Phil Crosby)
Idea # 2 Corollary– It’s not a mistake until it goes out the door
Essex Institute
Idea # 3 If you’re not thinking segmentation, you’re not thinking
(Tom Peters)
Females
Males
Day
Interna-tional
Boarding
Domestic Boarding
Market Segments
Essex Institute
Idea # 4
Change focus as family moves up the interest curve
Essex Institute Family Interest Level
Investment Required to Increase
Family Interest
100%
Awareness Curiosity Interest Desire Commitment Commitment0
45%
70%
80%
90%
Curiosity
Uni
vers
e
Stea
lth In
quire
r
Inqu
irer
Visi
t
Appl
y
Enro
ll
Gra
duat
e
Giv
e Ba
ck
Focu
s on sc
hool
Focus on stu
dent Focus on school and student
Idea # 5
Align financial aid with enrollment priorities
Idea #5 Corollary-The need-based financial aid model won’t work anymore
Essex Institute
Caucasian
Student of Color
Case Study: Changes in family contribution2007-2008 to 2008-2009 (random study)
Essex Institute
$
$
$
-$1,000
-$2,000
-$3,000
$1,000
$2,000
$3,000
Pric
e In
crea
se
Cases
Tuition, Room, and Board 09-10 $47,540Tuition, Room, and Board 10-11 $49,400Change $1,860 Overall Avg. Net Change to EFC -$511
-15000
-10000
-5000
0
5000
10000
15000
Case Study: Changes in family contribution 2009-2010 to 2010-2011 (random study)
Difference
$5,000
-$5,000
$10,000
-$10,000
-$15,000
$15,000
Price Increase
$5,000
-$5,000
$10,000
-$10,000
-$15,000
$15,000
Price Increase
$5,000
-$5,000
$10,000
-$10,000
-$15,000
$15,000
Price Increase
$5,000
-$5,000
$10,000
-$10,000
-$15,000
$15,000
Price IncreaseAll cases
Essex Institute
Cases
Idea # 6 Think net revenue
(David Breneman)
Idea #6 Corollary-Capping financial aid could result in lower enrollments and a loss in net tuition revenue
Essex Institute
Additional net revenue
Idea # 7 The middle class is an untapped market
Essex Institute
0%
10%
20%
30%
40%
50%
60%
70%
80%
$0-7,000 $7-14,000 $14-21,000 $21-28,000 $28-35,000 >$35,000
Estimated Family Contribution (EFC)
Per
cen
t o
f E
nro
llm
ent
Family Contribution
Independent School Enrollment - Economic Bi-Modality
Why the “middle class” is underrepresented in independent schools
• Age of oldest parent = 40
• Number of children = 1
• Adjusted Gross Income = $130,000
• Federal taxes = $15,000
• Net income = $115,000
• Total savings = $100,000
• Family contribution = $35,800
Essex Institute
Idea # 8
Essex Institute
Leadership counts -
more than we think -
about it
(Essex Institute)
Key traits of most effective leaders
• Competency
• Forward looking
• Inspiring
• Integrity
Key practices of most effective leaders
• Model the way
• Enable others to act
• Challenge the process
• Encourage the heart
• Inspire a shared vision
(James M. Kouzes & Barry Z. Posher)
Essex Institute
Ten Critical Leadership Flaws(Jack Zenger)
1. Lack energy and enthusiasum
2. Accept their own mediocre performance
3. Lack clear vision and direction
4. Have poor judgement
5. Don’t collaborate
6. Don’t walk the talk
7. Resist new ideas
8. Don’t learn from mistakes
9. Lack interpersonal skills
10. Fail to develop others
Essex Institute
Idea # 9
The “baby on board” is now your colleague in the workplace and seeks your guidance and support
(Neil Howe)
What Millennials Want
Mentoring and coaching
Almost daily feedback
Project co-ownership (working in teams)
A solid work/life balance
A road map to success and job security
Seek work that is personally fulfilling
Essex Institute
Idea # 10
Personnel problems don’t go away until the people do
(John W. Hanes, Jr. while on the Yellowstone River, Montana)
Essex Institute
Ten Breakthrough Ideas 1. The house always wins2. Get it right the first time3. If you’re not thinking segmentation, you’re not thinking4. Change focus as family moves up the interest curve5. Align financial aid with enrollment priorities 6. Think net revenue7. The middle class is an untapped market8. Leadership counts…more than we think…about it9. The “baby on board” is now your colleague in the workplace and
seeks your guidance and support10. Personnel problems don’t go away until the people do
Essex Institute
Most things we worry about never happen(Tom Petty)
David Erdmann [email protected]
Essexinstitute.comErdmannconsulting.com
Essex Institute