It’s frustrating to pay forty dollars for a supposedly good lead and, when you call them, have them say, “How did you get my name?” or “I’m not interested in enrolling in college.” According to industry statistics, this happens over ninety percent of the time. Makes you want to rely on the leads you develop yourselves, doesn’t it?
Having dealt with the same frustrations while heading a small university for six years I decided to try and improve this situation for all the colleges and universities, many like the one I led, trying hard to either maintain or increase enrollment. And after a false start, my team finally came up with something that drastically improved the situation.
We started with the assumptions that institutions trying to recruit students of all ages would want the following: access to prospective students who fit specific profiles; the ability to access these profiles easily online and with no buying requirement; the ability to select none, one, or multiple files; files having detailed information on the prospective student; and finally, a low-cost with no contract or minimums.
When we queried multiple marketing, enrollment and recruiting experts to verify our assumptions – remember, we wore those same hats ourselves – we picked up a few additional “it would be nice to have” things. So we added additional features, one of which was what I’ll call “trust.” In this case, trust means we will invoice for purchases an institution chooses to make. No contracts required prior to an admissions department acquiring leads. No credit cards and no money up front. Buy what you need when you need it.
Beta testing began; the usual issues were identified and fixed. Pilot programs were next. More tweaks were needed (of course). Now we’re in the final phase, which adds weighting to each file based on an institution’s specific enrollee profile. This means that if an “ideal” profile, as determined by each institution, contains ten qualities (i.e., age, military, program choice, time to start, etc.) and a prospect’s file indicates eight of the qualities are present, the weighting will be greater than if the file only contained three qualities. The result is that only the files with higher weighting will be shown to the institution on the website.
The platform itself, collegeleadexchange.com, can be easily accessed online. Any enrollment team can, without cost or obligation, create a profile of their best prospective enrollee. And without buying anything, can see how many profiles in the database match their ideal profile. But keep in mind the weighting feature is still being tweaked and will not be fully functional until about the middle of April 2018.
I believe this new approach to finding the best prospective enrollees for each institution’s programs will soon play a major role in assisting enrollment teams in meeting their goals of quality and quantity. And I invite you and your enrollment team members to keep an eye on collegeleadexchange.com over the next few months.