v technologies and tips to help enrollment marketers be more effecient a collaboration between...
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TECHNOLOGIES AND TIPS TO HELP ENROLLMENT MARKETERS BE MORE EFFECIENT
A Collaboration between Datamark, Leads360 and C3Metrics
ABOUT LEADS360
• A web-based software-as-a-service company (SaaS) established in 2004
• Market leader in the B2C prospect management sector in all of our core verticals – Financial Services (Mortgage, Debt, etc.) and Insurance and rapidly growing in Education
• The only enrollment management system designed for schools that compete for students
• Over 5,000 clients ranging from 1 to 1,000+ users
• More than 50 million active records under management
• 1,400 data source integrations
• More than 100 third party technology integrations
ABOUT C3 METRICS
• The C3 Metrics SaaS platform delivers real-time attribution and viewable impressions, allowing marketers to abandon last click measurement and discover the truth
• Buyers and sellers turn to C3 Metrics because its award-winning platform and products complete the loop and automate the process of correctly reporting which viewed media creates awareness, interest, and action
• C3’s technology is certified by Google Display, Yahoo!, AOL, and runs on 27+ DSP’s and networks
• Headquartered in New York with offices in San Diego and Portsmouth, New Hampshire, C3 Metrics is comprised of leading experts in the field of digital and TV measurement from DoubleClick, eBay, PepsiCo, Yahoo! and Nielsen
ABOUT DATAMARK
• For 25 years, Datamark has provided innovative, data-driven marketing exclusively to higher education.
• We generate high-quality student prospects for colleges and universities of all types and sizes across the country.
• We offer full-service inquiry generation and management; complete with conversion marketing solutions designed to reach, engage and motivate prospective students at every stage of the enrollment process.
“There is no such thing as a mass mind. The mass audience is made up of individuals, and good advertising is written always from one person to another. When it is aimed at millions it rarely moves anyone.”
— Fairfax Cone
STATE OF THE MARKET
CPLA’s Q1 2013 success seems largely based on its own superior execution and high quality product offering. Management reiterated that market conditions remain weak and credited gains to improved [enrollment] rates… as a
result of its own strategic and tactical choices.
-Wells Fargo, Analyst Report, 23 April 2013
TECHNOLOGIES AND TIPS
Save time and / or money
Deliver a market or competitive advantage
OPPORTUNITY #1
Find more efficient ways to communicate with prospective student inquiries.
OPTIMIZE THE ADMISSIONS FUNNEL
• Distributiono Basicso Advanced
• Inquiry volume per admissions rep• Scoring
DISTRIBUTION IS A SIMPLE CONCEPT
dis·tri·bu·tion /lēd distrəˈbyoK oSHən/
“The act of sharing inquiries among admissions representatives.”
DISTRIBUTION STRATEGIES
PUSH PULLPULL/PUSH
ROUND-ROBIN
ATTRIBUTE-BASED
SKILL-BASED
PERFORMANCE-BASED
SHARK TANK
BLIND QUEUE
CHERRY-PICK+
SHOTGUN
QUALIFY AND TRANSFER
QUAL-CONF-TRANSFER
SOPHISTICATED DISTRIBUTION METHODS
PUSH PULLPULL/PUSHInquiries handed out Leads are in
buckets
ROUND-ROBIN
ATTRIBUTE-BASED
SKILL-BASED
PERFORMANCE-BASED
SHARK TANK
BLIND QUEUE
CHERRY-PICK
SHOTGUN
QUALIFY AND TRANSFER
QUAL-CONF-TRANSFER
+
SKILL-BASED DISTRIBUTION
“Play to Each Rep’s Strengths”
BEST FIT INQUIRES TO BEST FIT REPS
Good with working moms
Good with veterans
Veteran inquiries
Working mom
inquiries
Website
inquiries
Inbound calls
Good with Website inquiries
Good with inbound
phone calls
HOW SKILL-BASED DISTRIBUTION WORKS
STEP 1Analyze “skills” you want to optimize e.g. State, Education, etc.
Choose skills that cover many opportunities and have a high variance in performance among admissions reps
STEP 2Analyze which reps should be in each “skill team” by asking, Who is comparatively the best at each type of inquiry?
There will be one group with no assigned skill
STEP 3Set skill-based distribution to distribute preferentially
STEP 4Analyze results and refine
SKILL-BASED ROUTING RESULTS
Change in enrollment rate following implementation of Skill-Based Distribution
PERFORMANCE-BASED DISTRIBUTION
“Auto-optimizing Your Skill-Based Distribution”
PERFORMANCE-BASED DISTRIBUTION
What does it do? Automatically distributes inquiry to the best-suited admissions rep based on each rep’s:•Contact rate•Qualification rate•Enrollment rate•Other Milestones
Why is this useful? - Allows flow of inquiries according to competence- Does not require continuous analysis and
changing of caps and filters
AS REP’S PERFORMANCE CHANGES…
1
My Enroll Rate
4.5% 4.2% 5.5% 7.6% 7.2% 8.3% 8.2% 8.5%
Daily Inquiries 5 4 6 10 10 14 13 14
2 3 4 5 6 7 8
GETTING INQUIRY VOLUME RIGHT
WORKLOAD IMPACT ON ENROLLMENT
• Enrollment rates decrease as more new inquiries are assigned per repo As workload increases, employees’
effectiveness is also likely to decrease (speed to call drops)
o As volume increases, inquiry quality is likely to decrease
• Can discern a formula for relationship between new leads assigned and enrollment rate
WORKLOAD IMPACT ON ENROLLMENT
0 5 10 15 20 250.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
50.0%
New Inquiry Assignments per Rep
Enro
llmen
t Ra
te p
er R
ep
PREDICTING ENROLLMENT RATE
New Inquiries per Rep per Day
Expected Enrollment Rate
1 30.8%2 17.3%3 12.3%4 9.7%5 8.1%8 5.5%
10 4.5%12 3.9%15 3.2%20 2.5%25 2.1%30 1.8%
EER = 0.3075*N-0.832
EER = expected enrollment rate
N = new inquiries per rep per day based on guessing or current stats
SCORING
SCORING
What does it do? Allows you to score inquiries according to their:- Demographic attributes- Inquiry source- Level of interest (e.g. email opens)
Why is this useful? Follow different workflow paths based on interest:- Send different emails and text messages- Distribute to different admissions reps- Increase priority as new information changes
score
DISAGREEMENT ABOUT INQUIRY QUALITY
Marketing Manager
Admissions Manager
Because they are the best-fit inquiries
Why are you prioritizing inquiries
that are women?
No, veterans are the best-fit inquiries
DISAGREEMENT ABOUT INQUIRY QUALITY
Marketing Manager
Admissions Manager
OK, let’s sit down and figure out
what makes a “best fit” inquiry
Sure, and then we’all document it as a
scoring system for all inquiries
SCORING EXAMPLES
• You want to distribute your best-fit inquiries to your most experienced admissions reps
• You want to attempt to call the best-fit inquiries more than others
• A high quality inquiry is usually one that is a good fit and ready to make a decision, so your emails should have a more urgent tone with a clear call to action
• Prioritization rules should favor a best-fit inquiry over a lower quality inquiry
• You have an agreement with your PPL provider that you may return your very worst inquiries
DIFFERENT SCORING MODELS
Rules-based
Model-basedHow it works • You determine what makes a best-
fit inquiry and configure rules• Examples:
• Have job = +1• No GED = -3• Email open = +4• Email bounced = -5• App requested = +10
• Vendor runs models to determine best rules and then configures scoring
• Each inquiry scored against model
Example vendors • Leads360• Salesforce
• Neustar• eBureau
Value Brings • Easy to set up• Model visibility
• More complex• Can be included as a factor in
determining score