Yield Enhancement Service
Maguire Associates’ Yield Enhancement Service is designed to help institutions improve the performance and efficiency of their recruitment efforts. The key is in our delivery of timely market research on newly admitted students, coupled with sophisticated analyses, expert guidance, and customized recommendations for improving recruitment.
Our 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 additional institutional data , such as financial aid awards, high school GPA, schools listed on the FAFSA, and admissions events attended, into the analysis.
The result for clients is a deeper understanding of the motivations, intentions, and characteristics of admitted students as well as specific recommendations for increasing yield for the next cycle and beyond.
Acting at the Right Time
Recently admitted students will respond better to market research outreach in the spring (April, May, and June) when their interest in the process and their willingness to complete a survey are highest. Not only will response rates be better, but memories and opinions will also be more accurate and vivid. Equally important, our clients get results that can have a real impact on recruitment plans for the following year.
Foregoing research of this kind can leave an institution in a position of relying on internal assessments of what was successful and what was not. While experience and intuition are important, making decisions about what prospective students value without their input puts the institution at a disadvantage.
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 works, empirically and verifiably, and then to use that knowledge to maximize strengths and minimize weaknesses.
Genuine enhancements – improvements to processes, introduction of beneficial efforts, and elimination or reduction of less effective messages or activities – require evidence, and well-designed and expertly analyzed research will produce that evidence. Maguire Associates provides research results that are timely, well interpreted, considered in light of market norms, and accompanied by interaction with consultants who have served institutions large and small, public and private. The research is also linked with existing institutional data to generate 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 the inquiry pool?
- Did certain messages resonate better than others in core markets, in new markets, or among targeted groups?
Our methodologies uncover hidden patterns and yield new insights that help clients to learn and act. For example, our discoveries about prospective students’ preferences have helped colleges tailor their communications efforts in response to this new information, enhancing both conversion and yield for the next cycle.
Applying the Personal Touch
One way to boost the value of research execution, translation, and application is by choosing the right research partner and process. Our clients not only get new data and insights; they also work with consultants who are available to collaborate on brainstorming, problem-solving, and market analysis. We believe that service and experience are among the most important components of the Yield Enhancement Service.
- While we are experts in data analysis and interpretation, we are not merely number-crunchers who deliver a report. We are committed to helping our clients put the information to practical use.
- Many institutions with which we have partnered on this service remain partners with us today. They have learned that having a whole team of experts on call for important issues is an invaluable resource.
Best Practice for Enrollment Leaders
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 our Yield Enhancement Service to be a “best practice” in student recruitment.