V WHAT MOTIVATES PROSPECTIVE STUDENTS? EXAMINING THE DECISION- TO-ENROLL PROCESS A Collaboration...

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WHAT MOTIVATES PROSPECTIVE STUDENTS? EXAMINING THE DECISION-TO-ENROLL PROCESS

A Collaboration between Datamark and Kaplan University

RESEARCH OBJECTIVE AND METHODOLOGY

Gain insight into the decision-making process

2 phases of the decision process: Initial idea-to-research and research-to-enrollment

Online Panel distributed across:

Prospects, applicants, enrollees

Undergrad, graduate programs

Online and ground schools

KEY QUESTIONS ADDRESSED

Why do prospective students seek higher education?

How much time do prospective students spend gathering information, and how do they go about it?

How do prospective students narrow their choices?

What influences a prospective student’s decision to apply to a particular school?

What factors carry the most weight in a prospective student’s decision to enroll?

KEY FINDINGSInitial Interest and Motivations

Prospective students are seeking more education to achieve a set goal.

Research

The majority of prospective students start the research process within one to two months of deciding to further their education.

The primary source of information are school websites and internet searches.

Selection

The most important factors in narrowing down their school consideration list are the program of interest is offered and the cost of the program.

Application

About one-third of prospective students did not apply due to financial reasons.

Of those who did not apply, 62% still intended to further their education.

Enrollment

The three most important factors when deciding which school to enroll in are accreditation, amount of financial aid provided and program cost.

TOP LIFE/CAREER SITUATIONAL MOTIVATORS

HOW LONG DOES IT TAKE STUDENTS TO DECIDE ABOUT GOING BACK TO SCHOOL?

WHERE DO STUDENTS GO TO RESEARCH SCHOOLS?

HOW MUCH TIME PASSES BETWEEN THE RESEARCH & APPLICATION PHASES?

HOW DO THE PROSPECTIVE STUDENTS NARROW DOWN THEIR SCHOOL CHOICES?

NUMBER OF SCHOOLS NARROWED TO CONSIDERATION

REASONS FOR NOT APPLYING

DECIDING TO APPLY

DECIDING TO ENROLL

LEARNING APPLIED

Prospect marketing

Remarketing

Dialog

Admissions

CONCLUSION:

Focus on the prospective student’s end goal

Focus on the key consideration variables

Provide the right information at the right time

WHAT DOES THIS MEAN FOR A SCHOOL?

Why is it important to understand decision to enroll?

Decision to enroll does not start at the generation of the inquiry

Decision to enroll has multiple touch points

Segmentation

Student experience

WHY IS IT IMPORTANT TO UNDERSTAND DECISION TO ENROLL?

WHY IS IT IMPORTANT TO UNDERSTAND DECISION TO ENROLL?

WHY IS IT IMPORTANT TO UNDERSTAND DECISION TO ENROLL?

WHY IS IT IMPORTANT TO UNDERSTAND DECISION TO ENROLL?

WHY IS IT IMPORTANT TO UNDERSTAND DECISION TO ENROLL?

Decision to enroll different for students with more risk factors

WHY IS IT IMPORTANT TO UNDERSTAND DECISION TO ENROLL?… decision to enroll less obvious for students who are traditionally not marketed to

WHY IS IT IMPORTANT TO UNDERSTAND DECISION TO ENROLL?

… for profit tuition prices likely not sustainable at current levels

IDENTIFY DECISION TO ENROLL EARLY IN FUNNEL

IDENTIFY DECISION TO ENROLL EARLY IN FUNNELL … CREATES VIRTUOUS CIRCLE

Identify Decision to Enroll Early

Lower Admissions cost, re-investment in academic quality

Improved LTR, graduation rates, job

placements

Higher quality alumni advocates

Lower Acquisition cost (pull vs.

push)

Higher market share and growth

Higher QualityInquiries

HOWEVER, IDENTIFYING EARLY NOT AS EASY …

InquiryScore

Phone Verification

Inquiry Authenticity

InquiryVelocity

InquiryAge

InquiryContactability

ComplianceFraud

Device IP

And risk a series of costly binary decisions around “good” or “bad”

…. Current screening technologies have high value but do not answer the fundamental question … “WHY”

ESPECIALLY TAKING MULTIPLE TOUCHPOINTS

HOW TO INCORPORATE RESEARCH

Understand the student

Understand (and measure) the journey

Find white space and differentiate

Segment the enrollment process

Post enrollment should pull pre enrollment

UNDERSTAND THE STUDENT

• Academic concerns / preferences

• Personal challenges• Revisions to

motivations / dedication

• Academic concerns• Personal challenges• Revisions to

motivations / dedication

• Program challenges

• Motivations/ dedication

• Past schooling (credits, GPA)

• Best contact medium/time/day

• Computer access• Standardized test

scores• Time commitment

• Attitude towards debt

360° student profile

FA Advisor

Admission advisor

First Term Academic Advisor

• Personal challenges• Instructor

concerns / tickets (eg logging in, but not posting)

• Poor quality posts• GPA• Attendance• Participation

Professors

• IT development needs

• Hardware specs / literacy

IT Support

MEASURE THE JOURNEY

FIND WHITESPACE AND DIFFERENTIATE

• For working parents• Most personalized experience• Best customer service• Most unique and different• Best student community

experience• Best students• Most practical, real world

education• Most support to make you

successful as a student• Most degree choice/breadth• Most challenging• Best professors/faculty• Hardest, most rigorous

academicprogram

• Most difficult to be accepted into

• Most/best career placement• Most prestigious• Most successful alumni• Most respected by employers• Best/most memorable

ads/marketing• Most affordable• For women

School1

School 2

School 3

School 4

School 5

School 6

School7

School 8

School 9

School 10

Exp

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ADJUST ENROLLMENT PROCESS AND SUPPORT SERVICES STRUCTURE

Diagnostic recapDiagnostic recap

Decision to enroll differs across student populations

Online universities viewed largely as same by students

Needs and attitudes differ across student "life stage”

Decision to enroll is a life changing decision

Price and out of pocket are key drivers to enroll

Key recommendationsKey recommendations

Incorporate use of segment profiles by degree and by selected program in marketing efforts, inquiry scoring, and in enrollment reengineering

Test and prioritize differentiated positioning, leverage big data

Dynamic messaging across all touch points over the life stage of the student. Segmented contact strategy

Don’t underestimate the value of support services

Current price levels at many for-profits are not sustainable. Re-engineer the business model

MAKE POST ENROLLMENT PULL PRE ENROLLMENT

Profiling

Value Based Pricing

Advisor Matching

MARKETING ADMISSIONS

PRE ENROLLMENT

ASSESSMENTSUCCESS PATHING

Risk Assessment

Skill Based Diagnostics

ModularizedEducation

Program Evaluation

Placement

POST ENROLLMENT

GRADUATION

SupportServices

Thank you.