Updated: Jan 3, 2021
Ask most Admission and Marketing Directors at private schools for their top three drivers of yield and you could get a perplexed look. This puts enrollment management teams at a real disadvantage in maximizing and hitting enrollment goals.
Oftentimes, attention is on comparative data in leads and applications, when you really need to put the focus on actual enrollments and where they initially heard about your school. This is what makes it an actual "driver."
To find your top drivers of yield, it is important to have accurate data. Some institutions use analytics, tracking codes, pixels, while others use their CRM or self-reported data from their online applications. Drivers of yield may include the following:
1. Internet Searches through search engine optimization SEO tactics (direct traffic)
2. Internet Searches that lead to engagement with search engine marketing SEM paid traffic.
3. Referrals from friends and your local community (typically generated via social media targeted posts, boosts, and ads, as well as through referral incentive programs.
4. Referrals from students, families, and alumni (typically generated from social media posts, messaging on literature, email newsletters, as well as event and school displays).
5. Checking out referral websites. For schools, these include: Boarding School Review, Private School Review, Niche, Great Schools, and association websites. For higher education, the sources are very broad, including articles on top rankings, best value, etc.
6. Reading a news article through local or national press releases.
7. Reading a noteworthy research-based blog that includes key information that leads to checking out your institution.
8. Seeing and interacting with representatives at fairs and events.
9. Seeing billboard ads, digital banner ads, directory listings, radio, or tv advertisements.
10. Visiting the area on vacation or gathering information through local sources.
In summary, to maximize your budget, we strongly recommend focusing on your top three drivers. Know how many enrollments came from each and allocate your spend from there.
Bottom line, know your top 3 drivers and you will be in much greater control of forecasting and data analysis.
If you feel overextended and lack the staff to manage your Website, SEO, SEM, or other platforms, get the help and expertise you need. Alternatively, if you prefer to control all platforms, Aperture Advisory Associates can support your efforts and provide training.
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