Introducing our Customized Yield Enhancement Service
Market research is an essential investment, but never more so than in uncertain times. We are approaching a point in the enrollment cycle when specific knowledge about the motivations, intentions, and characteristics of your admitted students – and how to utilize that knowledge – can pay substantial dividends now and for years to come. There is hardly a more urgent occasion to listen carefully to admitted students than during the coming spring and early summer months.
To fulfill this need, Maguire Associates is pleased to introduce our Yield Enhancement Service. The service provides value in any economic environment. However, it is particularly well suited to delivering customized, meaningful, and highly usable knowledge when the need to counter doubt and uncertainty is the greatest.
The Yield Enhancement Service combines three powerful benefits for ensuring better-informed strategy development and overall decision-making:
- Customized Survey: First, our service employs a fully customized survey instrument. We will collaborate with you to design an instrument that responds both to your precise information needs and to the demographics of your admitted student population. You can explore your institution’s specific concerns and opportunities, such as pricing and perceived value, campus presentation, infrastructure and technology, key competitor comparisons, location, and much more.
- Sophisticated Analysis: Next, Maguire Associates will provide you with comprehensive, customized analysis of the research findings. We will drill down deep to understand what is going on with your current crop of admitted students and what it might take to boost yield. Our customized data analyses include in-depth segmentation by subgroups of interest as well as multivariate techniques to understand better the underlying forces that influence opinions, preferences, and decisions. We can also incorporate into the analysis any additional institutional data that you provide, including financial aid awards. This approach extracts maximum value by integrating customized research with the power of your own institutional data.
- Specific Recommendations: Finally, we will translate our analysis into actionable recommendations designed to deter summer melt and to make substantial yield-enhancing improvements in future cycles. These recommendations are informed by our more than 25 years of experience in enrollment management and partnerships with more than 400 colleges and universities. From instrument design to analysis to recommendations, the entire process typically takes 10-12 weeks to complete.
Some colleges and universities are investing wisely in strategic market research these days because they see that it is a necessary response to the recession. They understand that timely market knowledge is essential for navigating this economic storm successfully. On the other hand, other institutions are reluctantly inclined to reduce research budgets in reaction to these same economic challenges. As we advised in the latest edition of Insights for a Challenging Economy, however, this is no time to “destroy the records, discard the map, and disable the navigation system.”
In unsettled times, relevant, actionable market knowledge is an indispensible resource. Our Yield Enhancement Service is designed to help you acquire this knowledge by capturing an in-depth understanding of the real-time attitudes, opinions, and decisions of your admitted students in a manner that is uniquely applicable to your institution. When the margin of error between enrolling a successful class and one that fails to meet expectations is so thin, these insights can make a powerful difference.
For more information about the Yield Enhancement Service, write us at firstname.lastname@example.org or call Tara Scholder, Senior Vice President for Research Operations, at 978-371-1775, ext. 241.