According to University of Texas professor of history Steven Mintz, “For many institutions, recruitment, yield, and retention now stand at the top of the priority list, with liquidity, cost cutting, and revenue generation close behind.” The current environment of furloughs, layoffs and budget cuts makes meeting institutional objectives all the more challenging. During uncertain times your enrollment team needs the proper tools to intelligently and efficiently traverse large student data sets.
Taylor University was in a similar situation in 2017 after successive down recruiting years. The standard response was to expand the prospect pool by 50%, further consuming the department’s limited resources. It also coincided with a reduction in headcount. What was the best plan to effectively manage the increased workload?
A transformation in the enrollment management process enabled by predictive analytics allowed the team to increase conversations with prospective students six-fold, despite operating with 3 fewer full-time employees. They were successful in managing conversion rates at critical stages along the enrollment funnel. The end result was the largest recruiting class in the 170-year history of the institution.
Steven once again reminds us of the business maxim “You can’t cut your way to greatness.” As you navigate the shifting higher ed landscape with fewer resources, invest in tools like predictive analytics that will streamline business processes for your people. Watch our 1 minute explainer video for inSuite Educate to transform your enrollment management, and accomplish more with less.
For institutions that rely heavily on their geographic area to build their student class each year, a declining prospect pool is often less important than a falling market share. Maintaining or growing the portion of students you attract in your market is a sign of...