How to Increase Registrations and Revenues by Turning Data into Action
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How to Increase Registrations and Revenues by Turning Data into Action ACHE 2011 Annual Conference and Meeting Integrating Traditional and Emerging Data into an Executable Communication Plan Todd Gibby, CEO, Intelliworks email: [email protected] twitter: @tgibby WWW.INTELLIWORKS.COM Steve Blumberg, Director of Strategic Services, DS Graphics email: [email protected] WWW.DSGRAPHICS.COM
Transcript of How to Increase Registrations and Revenues by Turning Data into Action
How to Increase Registrations and Revenues by Turning Data into Action ACHE 2011 Annual Conference and Meeting Integrating Traditional and Emerging Data into an Executable Communication Plan
Todd Gibby, CEO, Intelliworks
email: [email protected]
twitter: @tgibby
WWW.INTELLIWORKS.COM
Steve Blumberg, Director of Strategic Services, DS Graphics
email: [email protected]
WWW.DSGRAPHICS.COM
THE DECK IS STACKED, RIGHT?
Demand Has Never Been Higher Less than 16% of those enrolled in higher education
-‐22) Over 25 population is the fastest growing segment in higher education Availability of online and hybrid programs makes these programs more accessible than ever before Even in a recession, people are better off with an education than without Increasing cost and scrutiny of for-‐profit educators have made not-‐for-‐profit adult education providers even more appealing
SO WHY IS IT SO HARD?
We Find Balance Between Being Efficient & Effective?
Expectations Are Changing
Multiple touch points Preferences vary based on lifecycle
Next best thing is always around the corner No single simple solution
Colleges that wish to remain successful in the face of rapidly changing dynamics need to employ a new paradigm, one that uses more sophisticated search strategies and new metrics to track and enroll the desired number of students who are a good fit for the institution
Noel-‐Levitz
Tough Economy
More competition
Reduced response rates
Changing Demographics
Differentiate Messaging
Reaching Target Audience
Little or no support staff
Social Media
Reduced budget
Proliferation of Online programs
Increase competition from For-‐profits
Tracking, measuring and evaluating
Survey Says: Doing More With Less
Survey Says!
0%10%20%30%40%50%60%70%80%90%100%
Very Important
Important
N/A
Less Important
Not Important
Source: Intelliworks Email Poll of UCEA/Eduventures Members, April 2010
Do we have any sales people in the room?
Convenience Flexible Designed around your busy schedule Accelerated Affordable Finish your degree in 16 months Online, On campus, blended
Can You Name This Institution?
Right Strategy Right Person Right Way
a) Assessing your situation (SWOT)
b) Connecting problems to solve (Pain Chain)
c) Programming for results (Reference Story)
d) Extra Credit: Differentiate (Elevator Pitch)
Session 1: The Right Strategy
S.W.O.T.
SWOT: SUNY Oswego Strengths
Steady growth New online MBA program; Affordable, convenient, Addresses regional demand
Weaknesses Limited resources for marketing No tracking system No visibility into lead source
Threats Some regional competition Decentralized organization Lack of policy and process Highly politicized culture
Opportunities New agency partner to help drive marketing Global presence with online programs Metro branch campus
Pain Chain
Pain Chain: SUNY Oswego
Pain: Eroding operating margins; budget cuts Reasons: Operational Inefficiency; Declining enrollment
Dean
Pain: Inability to know / define student market ; slow process / response time to student inquiries Reasons: Understaffed / unfocused; No visibility into the campaign performance or student enrollment funnel
Director of Admissions
Prospective Student
Pain: Indecision Reasons: Limited outreach from institution and lack of relevant messaging / information.
Reference Story Issue Comments
Situation and circumstances?
Critical Issue What is the critical
Reasons What are the driving forces creating the challenge?
Who, What, When, Where, Why, How
Describe the actions being taken to address the challenge.
Solution Specific actions, initiatives, tactics to improve the situation.
Results How and what will we measure to track our progress against goals?
Reference Story Issue Comments Situation SUNY Oswego provides an excellent case of an institution that identified how a CRM strategy
could help them reach their marketing objectives.
Critical Issue The institution struggled with engaging students and building long-‐term relationships that ultimately led to enrollments.
Reasons Their objectives were to support key student decision points and connect with prospects during the decision cycle by uncovering demand, qualifying interest, cultivating commitment and reinforcing decisions
Who, What, When, Where, Why, How
With a full-‐time staff of four, which includes the Dean of Graduate Studies and Research, the need for a system that will automate communication, data collection, tracking and analysis is imperative to the successful growth of enrollment. Without such a major component, it will be virtually impossible to manage data, track inquiries and build a source for outbound, targeted marketing efforts to engage and communicate with prospective students.
Solution Created a multi-‐channel marketing plan that was supported by a flexible CRM solution that allowed them to track day-‐to-‐day interactions with constituents, manage inbound and outbound communications and report on the success of their efforts.
Results Identified KPIs for success measurement
FIGURE OUT WHO THEY ARE, AND WHERE
Help Me With The Math, Please.
2010 Census Worcester County by Education Level Obtained
Total Population 798,552 Population 25-‐40 years and over 92,556
Some college, no degree 87,756
53,020 prospective students divided by 9 colleges and an additional 8 online programs.
Of the 53,020 prospective students, how many are interested in going back to school?
Of those 53,020 prospective students who are interested in going back to school, how many are interested in you?
1% increase in enrollment requires
7% increase in inquiries
For adults in transition, specific life events set the time on the learning clock.
There are millions of potential adult learners who need or want to learn. . . But specific life events are needed to convert most of the latent learners into active learners.
Carol Aslanian
The value of knowing what kinds of transitions cause adult learning lies in being able to predict what they will learn.
The value of knowing what kinds of events trigger adult learning lies in being able to predict when they will learn.
Carol Aslanian
Student Motivations: What They Want
Student Motivations
Source: Intelliworks LinkedIn Poll, October 2009 (n = 355)
WHY? Understand their decision-making process. Understand their communication style. Discover pain points/barriers to enrollment. Validate or deny your assumptions and avoid stereotypes.
THINKING IN HUMAN TERMS The Doubting Thomas He went straight to work after high school
degree, but just got promoted and ant to leave his job.
THINKING IN HUMAN TERMS
of your school. And neither have her friends.
THINKING IN HUMAN TERMS The Idea Man
own company, and is ready to retire, but
affluent professionals like him may prefer to learn at their own pace while enjoying their golden years.
Why are they here? 2
What keeps them up at night? 3
How can you solve their problem? 4
What do you want them to do? 5
How can you best reach them? 6
How might they resist? 7
What are they like? 1
© duarte.com 2008
Segment Your Market?!
GENDER
AGE
ETHNICITY E
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GEOGRAPHY
PROGRAM OF INTEREST TOTA
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Session 2: The Right Person
a) Understanding field of play (Market Analysis)
b) Knowing your customer (Rating Attributes)
c) Speaking their language (Creating Personas)
d) Extra Credit: Preferences (Channel Choice)
Attribute Rankings Most Valuable
Geography
Program of Interest
Education Level
Industry
Grades
Income
Population
Age
Gender
Ethnicity
Most Accessible
Geography
Program of Interest
Education Level
Industry
Grades
Income
Population
Age
Gender
Ethnicity
Creating Personas PROSPECT A PROSPECT B PROSPECT C
What are they like?
Why are they here?
What keeps them up at night?
How can you solve their problem?
What do you want them to do?
How can you best reach them?
How might they resist?
Name:
THEN FIGURE OUT HOW TO COMMUNICATE WITH THEM
need to get his or her permission with some kind of Once a customer volunteers his or her time,
you're on your way to establishing a long-‐term
Seth Godin, Author, Permission Marketing
Individuals who have raised their hands and indicated that they are interested in advancing their careers, changing their
careers, or enriching their lives.
Marketing Is a Process, Not an Event.
Do These Look Familiar?
Goals Increase Enrollment Improve Staff Efficiency Control Data Sharing Enhance Effectiveness of Student Contact
a) Setting Frame of Reference (Decision Stages)
b) Isolating To-‐ Mapping Objectives)
c) Setting the Mark ( )
Session 3: The Right Way
Discovery
Listening
Engaging
Reinforcing
Identifying Decision Stages
Objectives by Decision Phase
Discover: Uncover Demand
Listen: Capture / Qualify
Engage: Convey Value
Support: Reinforce Decisions
Current State Fragmented Marketing
Limited Inquiry Capture
Generic Messaging Silence
Ideal State Strategic Outreach
Ubiquitous Data
Capture
Segmented High Touch
Established Networks
Functional Vision
SEO / SEM
Events
Inquiry Forms Email & FB
Response Sys
Segmented Views
Comm Plans
Comm Outreach Events /History
Mapping Objectives
Setting Metrics
Growth
Quality
Intelligence
Efficiency
Increase Y-o-Y inquiries by 15% Grow enrollments in
X program by 25% Generate 500 more
attendees to info sessions
Reduce by 25% the time it takes to complete a campaign Maintain inquiry response time under 4 hours Automate assignment of leads to counselors
Reduce abandonment rates by 20% Reduce by 45% number of clicks to complete application Improve satisfaction rates to >85% at 4-5.
Inquire Apply Accept Enroll Retain Graduate
14%
35+%
72%
80+%
68%
85+%
Scorecard: Embry-‐riddle Worldwide
Define Metrics and Goals: Define global metrics and drive agreement around units of measurement for tracking plan effectiveness. Set goals & objectives that will be measured against in Plan v. Actual format.
Report Framework & Frequency:
Develop conversion and enrollment reporting framework designed to be updated at defined intervals.
Observe :
Include a model and placeholders for summary of observations/findings and recommendations.
Refine to Optimize Your Programs & Processes:
Create a strategy and action plan for deploying additional business units to observe and optimize plan based on reports key findings
Preparing For Measurement
BIG FINISH
Right Strategy Right Person Right Way
What Metric
