How to Set a “Think Bold” Recruitment Strategy€¦ · Our Enrollment Services division...

©2019 by EAB. All Rights Reserved. eab.com

How to Set a “Think-Bold” Recruitment StrategyMake the Right Enrollment Investments to Reach Your Full Potential

Enrollment Services

https://www.eab.com/

©2019 by EAB. All Rights Reserved

2Today’s Presenters

Ian WattManaging Director, Client SuccessEAB Enrollment Services(800) 899-7227 [email protected]

Rebecca HowardManaging Director, Client DevelopmentEAB Enrollment Services(804) [email protected]



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Student interactions annually

1.2B+Individuals on our student success management system

1M+

Goal: Make education smarter

1

Start with best

practices research

› Research Forums for presidents,

provosts, chief business officers,

and key academic and

administrative leaders

› At the core of all we do

› Peer-tested best practices research

› Answers to the most

pressing issues

Then hardwire those insights

into your organization using our

technology & services

Enrollment Management

Our Enrollment Services division provides data-driven undergraduate and graduate solutions that target qualified prospective students; build relationships throughout the search, application, and yield process; and optimize financial aid resources.

Student Success

Members of the Student Success Collaborative use research, consulting, and an enterprise-wide student success management system to help students persist, graduate, and succeed.

Growth and Academic Operations

Our Academic Performance Solutions group partners with university academic and business leaders to help make smart resource trade-offs, improve academic efficiency, and grow academic program revenues.

6

Institutions we are proud to serve

1,200+



7

Gen Z High School Graduates Won’t Be Enough to Fulfill Growth Goals

A Trend We’re All Too Familiar With

2.6

2.8

3.0

3.2

3.4

3.6

3.8

2001 2004 2007 2010 2013 2016 2019 2022 2025 2028 2031

Hig

h S

chool G

raduate

s(M

illions)

High School Graduate Growth Rate Plateaus Before Decline

Number of High School Graduates and Compound Annual Growth Rates

Growth

+1.6%growth rate

Stagnation

+0.2%growth rate

Decline

-1.1%growth rate

Source: Western Interstate Commission on Higher Education (WICHE), Knocking at the College Door, 2016; EAB analysis.



8

Challenging Market Conditions Require a Shift in Mindset

A New Paradigm

Existing Paradigm New Paradigm

“How productiveis our recruitment-marketing spend?”

“How efficientis our recruitment-marketing spend?”

“How much revenue is our recruitment-marketing spend generating?”

“How much are we spending on recruitment marketing?”

“Here are our enrollment goals. What will it take to accomplish them?”

“Here’s our budget. What kind of enrollment results can we get?”

Source: EAB research and analysis.



9

A Comprehensive, Integrated Framework for Optimal Enrollment Outcomes

‘First Things First’ Targeting Strategy

Existing parameters

New parameters

Existing markets

1Find students

you’ve previously missed

2Engage new

types of students

New markets

3Gain a foothold

in new markets

4Maximize

penetration in new markets

Geographical markets

Targeting scope




10

Distance from Campus Is a Key Variable in Enrollment Outcomes and ROI

The Power of Proximity

Funnel Conversion Rates by Distance from Campus

Distance (Miles) 0-25 26-50 51-100 101-200 201-500 500+

Contacted 25,000 25,000 25,000 25,000 25,000 25,000

Response Rate 13.9% 12.6% 12.9% 12.4% 12.4% 13.6%

Inquiries 3,475 3,150 3,225 3,100 3,100 3,400

Conversion to Applicant 31.3% 22.5% 19.3% 16.1% 13.9% 10.8%

Applicants 1,088 709 622 499 431 367

Accept Percentage 67.7% 67.3% 65.9% 62.9% 54.4% 50.2%

Accepted 736 477 410 314 234 184

Yield Percentage 30.3% 22.6% 20.2% 18.9% 16.4% 15.1%

Enrolled 223 108 83 59 38 28

Enrolled per 1,000 Contacts 9 4 3 2 2 1




11

Make Sure You’re Not Missing Students Under Existing Targeting Parameters

Step 1

Existing parameters

New parameters

Existing markets

1Find students


2Engage new

types of students

New markets

3Gain a foothold

in new markets

4Maximize





12


Efficiency Pursuits May Hinder Outcomes

692

Enrolls

63

Enrolls

42.0%11.3% 1,647

Admits

180

Admits

48.3%

3,211

Applications

372

Applications

17.0%

28,180

Inquiries

2,181

Inquiries

42.0%18.5%

35.0%16.3%

Selected by predictive

model

Contacted

152,325

13,361

Contacted

Excluded by predictive

model

4.7enrolls per

1,000 contacts

4.5enrolls per

1,000 contacts

165,686

Targeted & Purchased



13

Inquiry Pool Contact Quantity by Test Group

Success Hinges on Outreach and Conversion

9,779 9,740

0

2,000

4,000

6,000

8,000

10,000

12,000

Control - InstitutionalApp Marketing

Test - EAB AppMarketing

10,679 10,571

0

2,000

4,000

6,000

8,000

10,000

12,000



15,193 15,071

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000



10,217 10,199

0

2,000

4,000

6,000

8,000

10,000

12,000



College A College B

College C College D



14

Applications by Test Group


599

1,459

0

200

400

600

800

1,000

1,200

1,400

1,600



358

880

0

200

400

600

800

1,000



905

2,124

0

400

800

1,200

1,600

2,000


Test - EAB Marketing

134

505

0

100

200

300

400

500

600



College A College B

College C College D



15

60

128

0

25

50

75

100

125

150



107

162

0

20

40

60

80

100

120

140

160

180



164

313

0

50

100

150

200

250

300

350



15

38

0

15

30

45

Control - Institutional AppMarketing


Enrollments by Test Group


College A College B

College C College D



16Same Markets, New Potential

<50%

1,500

1,700

1,900

2,100

2,300

2,500

2,700

2,900

3,100

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

2014 2015 2016 2017 2018

Applications Freshman Enrollment

Applications

Enro

llm

ent

Applications and Freshman Enrollment

By Entering Class Year, Mayflower State University

>90%

43% Increase in freshman enrollment from 2015 to 2018

>95% Of new enrollment came from within 100 miles

Percentage of eligible high school seniors in

primary market engaged via

recruitment marketing

Search saturation



17

Adjust Targeting Parameters to Capture New Candidates

Step 2

Existing parameters

New parameters

Existing markets

1Find students


2Engage new

types of students

New markets

3Gain a foothold

in new markets

4Maximize





18Tactical Elements Can Limit Full Potential

100%

80%

65%

50%

Maximum potential

Percentage of Best-Fit Students Available for Recruitment-Marketing Outreach

Prospect-Volume Penalty, by List-Sourcing Scenario, Typical College/University

-20% -15% -15%

-50%

Names purchased

only once per year

Incomplete set of list sources

used

Overly restrictive filtering




19

Multiple Aspects of Targeting Strategy Can Impact Full Potential

A Multifaceted Challenge

Percentage of Students Switching Major

Between Initial Search Contact and Application, by Year First Engaged1

1172

12711258

1235

Non-Search Sophomore Junior Senior

58%

51%46%

Sophomores Juniors Seniors

Average Enrolled SAT Score

By High School Year of First Search Contact, College A


1) Based on results from 36 colleges and universities studied.



20

Make Carefully Calibrated Entry into New Markets

Step 3

Existing parameters

New parameters

Existing markets

1Find students


2Engage new

types of students

New markets

3Gain a foothold

in new markets

4Maximize





21

Markets Thought of as Attractive Don’t Always Make Strategic Sense

Understanding Reach-Market Potential

Markets that are attractive

Markets that are a strategic

match




22

EAB’s Reach-Market Analytics Pinpoint Most Promising Zip Codes

Analytics Boost Reach-Market Viability

Recruiting College

Target-Market Zip Codes

Examples of parameters analyzed

• Selectivity

• Size

• Public/private

• Historical reach-market draw

• Location

• Reputation

• Average household income

• Average educational attainment

• Historical student-enrollment behaviors

• Average distance traveled for college

• Distance from campus

• % public versus private high schools

Examples of data sources

used

• EAB recruitment-campaign data

• Historical data from recruiting college

• IPEDS

• EAB data warehouse

• National Center for Educational Statistics

• US Census

• Third-party consumer databases




23

A School in the Northeast Assesses the Chicago Market

Reach-Market Analytics in Action

Lake Michigan

Highest potential

Lowest potential

Application-Generation Potential by Zip Code




24

ROI

Understanding Recruitment-Marketing Cost Relative to Revenue Impact

A Framework for ROI

Recruitment-Marketing Break-Even Analysis

Number of Enrolled Freshmen

Recruitment cost

Cost/

Revenue

Revenue from enrolled

students

Recruitment-marketing costs are covered once this many students are enrolled




25

Assessing Incremental Enrollment Required for Different Levels of Return

Targeting New Markets with an ROI Mindset

Contact year

Contact quantity

FY 2020 investment

FY 2020 FY 2021 FY 2022

Additional markets in New York

Senior 3,000 $8,100 0.4

Junior 6,000 $14,400 0.7

Sophomore 4,000 $9,600 0.5

Enrollments required tobreak even

on FY 2020 investment

2019–20 tuition and fees $42,885

Estimated annual tuition increase 3.00%

Estimated tuition discount rate 57.0%

Estimated first-year NTR per

enrollment

FY 2020 $18,441

FY 2021 $19,564

FY 2022 $20,150

Assumptions

Sample ROI Analysis for College A




26

Contact year

Contact quantity

FY 2020 investment

FY 2020 FY 2021 FY 2022


Senior 3,000 $8,100 1.8

Junior 6,000 $14,400 2.9

Sophomore 4,000 $9,600 1.9



Assumptions






enrollment

FY 2020 $18,441

FY 2021 $19,564

FY 2022 $20,150

Enrollments required to realize

3xreturn on FY 2020 investment




27

Contact year

Contact quantity

FY 2020 investment

FY 2020 FY 2021 FY 2022


Senior 3,000 $8,100 2.2

Junior 6,000 $14,400 3.7

Sophomore 4,000 $9,600 2.4



Enrollments required to realize

4xreturn on FY 2020 investment

Assumptions






enrollment

FY 2020 $18,441

FY 2021 $19,564

FY 2022 $20,150




28

Targeting-Strategy Framework for Optimal Enrollment Outcomes

An Integrated, Comprehensive Approach

Existing parameters

New parameters

Existing markets

1Find students


2Engage new

types of students

New markets

3Gain a foothold

in new markets

4Maximize





29

A Change in Mindset Can Deliver Striking Impact for All Types of Schools

Transformative Results

Change in first-year:

Enrollment NTR (Total) ROI

College A Midsize university in the West +14% +19% 5:1

College B Highly selective university in the Northeast +34% +35% 15:1

College C Midsize private university in the South +34% +61% 10:1

College D Small private college in the Mid-Atlantic +66% +80% 7:1



©2018 EAB • All Rights Reserved • eab.com

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Contact Ian or Rebecca to learn more about goals-first recruitment strategy

Ian WattManaging Director, Client SuccessEAB Enrollment Services(800) 899-7227 [email protected]

Rebecca HowardManaging Director, Client DevelopmentEAB Enrollment Services(804) [email protected]


Washington DC Richmond Birmingham Minneapolis

202-747-1000 eab.com


How to Set a “Think Bold” Recruitment Strategy€¦ · Our Enrollment Services division...

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