The big challenge for many colleges and universities that don’t have a widely recognized brand name and elite reputation is finding enough qualified prospective students to meet their enrollment goals. Marketing budgets – and maybe expertise – are in many cases insufficient to generate the number of leads required to fill seats or online courses. Recruiting students is never easy nor inexpensive, but there are some best practices that have evolved, using new technology, that are proving to be a lifeline for admissions officers and representatives.
Make no mistake, the very best enrollment leads are the ones that call you. Conversion rates for leads you develop through your website, your publicity, and especially your happy students and alumni, are the highest of any lead source. But sometimes you can’t get enough of these calls to meet your enrollment goal. So what’s next best?
Many large institutions contract with third-party marketers to originate leads. Some score these leads and only pass on the ones that are likely, or somewhat likely, to enroll. The problem with this process is that it is expensive and priced out of reach for most colleges, especially those schools that are discounting tuition to be competitive in costs to attend.
There are other marketers who will handle generating leads, calling them, and processing enrollments. But you pay dearly for this service, many times a large portion of the tuition generated. This, by the way, works best for those institutions that don’t understand how to market themselves and “close the sale” with prospective enrollees. Many of us think this is a “fool’s game” that increases enrollment but decreases bottom line for the institution.
Of course, there are the standard lead generators like ClassesUSA. Many of you have used them or their competitors paid about $40 per lead and experienced a conversation (enrollment) rate approaching 2%. You have also experienced responses from these leads like “How did you get my name?” and “I’m not interested in college.” For the two-out-of-one hundred that enrolls your admissions team have been frustrated by the ninety-eight that proved to be a waste of time. And there are no refunds for the ninety-eight that didn’t pan out.
We think there’s a better way. An answer to locating prequalified prospective enrollees that is inexpensive, easy to use – it’s self-serve – and works somewhat like an eBay for college enrollees leads. It’s an online platform where admissions managers can list their criteria for “ideal” leads and quickly find out how many are immediately available. They can then check the cost and, with no contract, download some, all or none. These leads originate from several sources, among them purpose-built and promoted websites like www.WhatsBestforMe.com as well as established marketing organizations specializing in higher education leads.
This online source is found at www.CollegeLeadExchange.com. Like shopping online, it doesn’t cost anything to browse, and no contracts are required. Purchases of leads, for those who choose to acquire them, are billed at the posted price on a net-30 basis. But here’s the problem: the site won’t be transactional until around August 1, 2018. You can browse now, establish your custom criteria for leads, and see how it all works, but you won’t be able to buy anything until early August. So take a peek now…