(from EAB) In the last several years, fewer than 40 percent of college admissions directors have hit their targets on May 1, traditionally deposit day. Three tips to bounce back and make strategic adjustments to avoid consecutive misses:
- Diversify your focus beyond yield. Yield is becoming more challenging as the market continues to reward discounting. It requires high-touch efforts that are difficult to scale, or more aggressive aid policies, which are difficult to sustain.
- Be proactive and think bold. Successful teams start adjustments early and balance the near-term spring and summer responsibilities on campus (late deposit management, melt prevention, orientation and welcome weeks) with long-term planning. Many teams that excel at rebounding have strategies anchored by bold pillars — initiatives or tactics that may fundamentally change the look of their enrollment funnel. This may mean optimizing the enrollment process for either prospective students or the institution.
- Establish milestones and stay disciplined with pacing metrics. Establish pacing benchmarks to manage progress in your goals as early as August. Topline targets are necessary but not sufficient. A better approach involves monitoring key metrics at several points throughout the cycle. Interventions can make a difference, but they need to be implemented through the fall and winter.
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