Power Tomorrow’s Yield with Today’s Effort:
With Maguire Associates’
Yield Enhancement Service
Enrollment offices are no strangers to late nights, working lunches, and towering stacks of applications these days. There can be no doubt your admission staffs are working very hard right now to recruit and enroll your next classes. A lingering question remains, however, as to whether you feel you are also working as effectively as possible.
"The short of it is this - here is what I tell people who call and ask me about Maguire Associates: My work with everyone there has been exceptional. I find their integrity above reproach and their consult exemplary.
"I have come to depend on them for not only first rate research, but also as a touch point as we respond to the ever changing landscape of recruiting, marketing, and enrollment management."
Maguire Associates' Yield Enhancement Service is designed to help you improve the performance and efficiency of your recruitment efforts. The key is in our delivery of timely market research on your newly admitted students coupled with sophisticated analyses, expert guidance, and customized recommendations for improving recruitment:
- Our customized research explores the impact of a variety of issues on student decision making – such as pricing and perceived value, communications and key messages, campus visits and admissions events, interaction with the admission and financial aid offices, positioning against key competitors, and much more.
- Our sophisticated analyses include in-depth segmentation by subgroups of interest, as well as multivariate techniques to understand the underlying forces that influence admitted students’ opinions, preferences, and decisions. We can also incorporate into the analysis additional institutional data you would find valuable, such as financial aid awards and admissions events attended.
The result for clients is a deep understanding of the motivations, intentions, and characteristics of admitted students as well as specific recommendations for increasing the percentage of admitted students who ultimately enroll next cycle and beyond.
Your pool of newly admitted students is filling up now. You will be able to ask these admitted students very specific questions of value to you (and to them), doing so in the spring when their attention is highest and willingness to complete a survey is greatest. Here’s why future yields will benefit from your attention today:
- Recently admitted students will respond better to market research outreach in April, May, and June than later in the summer. There are otherwise rapidly diminishing returns from market research undertaken in July and August, when high school has ended and summer jobs and vacations are underway. You’ll get better response rates and more accurate memories and opinions if you start early and survey your marketplace on time.
- You'll get results when they are the most valuable to you. Foregoing research or waiting too long to do it can leave you in a position of relying solely on your own internal assessments of what was successful this cycle and what was not. While your experience and intuition are very important, making decisions about what prospective students value without their input relies on an ability to read the minds of 18 year olds. And we all know that’s never an easy task!
Successful planning and execution require evidence: What works, what doesn’t, and how do we know? The race for fall 2011 has already begun, even while you tightly carry the baton for fall 2010. If that sounds overwhelming, it doesn’t have to be. With our Yield Enhancement Service, Maguire Associates can help you transform today’s sweat into tomorrow’s equity.
Translating Evidence into Action
Making the best use of the hundreds of thousands of dollars spent to recruit first-year and transfer classes is one of the highest priorities of any chief enrollment officer. One way to safeguard these investments is to understand what you do well and don’t do well, empirically and verifiably, and then use that knowledge to maximize your strengths and minimize your weaknesses.
The truth is that genuine enhancement – changes to processes, introduction of beneficial efforts, and elimination or reduction in messages or activities that don’t provide strong return on your investment – requires evidence. And evidence derives from well-designed and expertly analyzed research.
Here's why the most important enhancements you can make to your student recruitment operations demand high-quality market research as well as collaboration with experienced enrollment consultants on customized solutions:
- Anyone can field a survey and send you a lengthy summary of responses. However, it's much more valuable to generate research results that are timely, well interpreted, compared to market norms, and accompanied by deep interaction with researchers who have served institutions large and small, public and private. That's how action steps and decisions for the future are generated.
- Maguire Associates links survey research results with your existing institutional data to generate even more powerful new knowledge, answering questions such as:
- How did students respond based on their income levels and financial aid packages?
- Did responses differ based on how or when they first entered your inquiry pool?
- Did certain messages resonate better than others in your core markets or in new markets?
- Our methodologies uncover hidden patterns and yield new insights that help you to learn and act. For example, what do you know about your “converts" and "defectors”?
- What are the unique characteristics, interests, and responses of students who had high interest in your institution at the beginning of their college search but enrolled elsewhere? We call these students “defectors.”
- Or how about those who had low interest at the outset but you were able to win over – the “converts”?
Applying the Personal Touch
One sure way to boost the value of research execution, translation, and application is by choosing the right research partner and process. In collaborating with Maguire Associates, you not only get new data, new information, and new knowledge, you get us, too – your human capital for investment in brainstorming, problem solving, troubleshooting, and market analyses.
Here’s why service and experience are among the most important components of our Yield Enhancement Service – and everything that we do:
- While we are experts in data analysis and interpretation, we’re not merely number-crunchers who hand you a report that will gather dust in a drawer. We’re saving you time and helping you put the information to practical use.
- The institutions with which we’ve partnered on this service remain partners with us today. They learned that having a whole team of experts on call for important issues is an invaluable resource.
Best Practice for Enrollment Leaders
Our Yield Enhancement Service will help you take control of what comes after this spin around the enrollment cycle. We know that the margin of error between enrolling a successful class and one that fails to meet expectations can be very thin. Our clients have found that the insights gleaned through this service make a very important difference. That’s why many enrollment leaders today consider the Yield Enhancement Service to be a best practice in student recruitment.
For more information about the Yield Enhancement Service:
Please Email or call us at 978-371-1775
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