B1 - Top Ten Breakthrough Ideas for Enrollment Optimization

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    01-Nov-2014

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David Erdmann has been a college admission dean for more than 30 years and an independent school enrollment consultant for more than 20. Over those years David has "discovered" 10 breakthrough ideas that, when applied in combination, will help achieve enrollment success at your school. In this session he will share these breakthrough ideas and invite your comments and discussion participation.David Erdmann, Dean of Admission and Enrollment, Rollins College, FL

Transcript

1. Eureka! Ten Breakthrough Ideas for Enrollment OptimizationA good idea is where you find it(David Holmes)TABS 2010 Annual ConferenceDavid Erdmann Dean of Admission & Enrollment, Rollins CollegeDirector, Essex Institute for Independent School Enrollment Management 2. The future ain't what it used to be(Tom Petty)Essex Institute 3. Idea # 1 The house always wins(Danny Ocean)Idea # 1 Corollary You cant beat the house, but you can stay even if you play your cards rightThe HouseYour CardsDemographic shifts 4. Economic uncertainty 5. Changing consumer behaviors 6. Educational options 7. Family satisfaction with your school and its market positionEssex Institute 8. Actual and Projected Percentage Changes in Public High School Graduates(Source: National Center for Education Statistics (NCES) 9. California Enrollment Projections White Non-Latino (Source: California Dept. of Education) 10. UniverseInquirersVisitsApplicantsAcceptsEnrolledThe power of word of mouth Word of mouthWord of mouthWord of mouth Top tier schools Other tier schoolsEssex Institute 11. Stronger Reputation(1:4 Win:Loss Ratio)X(1:1 Win: Loss Ratio)Weaker Reputation(4:1 Win:Loss Ratio)The power of market positionEssex Institute 12. Idea # 2 Get it right the first time (Phil Crosby)Idea # 2 Corollary Its not a mistake until it goes out the doorEssex Institute 13. Idea # 3 If youre not thinking segmentation, youre not thinking(Tom Peters)Essex Institute 14. 100%90%80%70%Investment Required to Increase Family Interest45%CuriosityCuriosityAwarenessInterestDesireCommitmentCommitment0Family Interest LevelIdea # 4 Change focus as family moves up the interest curveUniverseStealthInquirerInquirerVisitApplyGraduateGive BackEnrollFocus on school and studentFocus on studentFocus on schoolEssex Institute 15. Idea # 5Align financial aid with enrollment priorities Idea #5 Corollary-The need-based financial aid model wont work anymoreEssex Institute 16. Case Study: Changes in family contribution2007-2008 to 2008-2009 (random study)$3,000$$2,000$Price Increase$$1,000-$1,000-$2,000-$3,000CasesEssex Institute 17. CasesEssex Institute 18. Idea # 6 Think net revenue(David Breneman)Idea #6 Corollary-Capping financial aid could result in lower enrollments and a loss in net tuition revenueAdditional net revenueEssex Institute 19. Idea # 7 The middle class is an untapped marketIndependent School Enrollment - Economic Bi-ModalityEssex Institute 20. Why the middle class is underrepresented in independent schools Age of oldest parent = 40 21. Number of children = 1 22. Adjusted Gross Income = $130,000 23. Federal taxes = $15,000 24. Net income = $115,000 25. Total savings = $100,000 26. Family contribution = $35,800Essex Institute 27. Idea # 8Leadership counts - more than we think - about it (Essex Institute)Essex Institute 28. Key traits of most effective leadersCompetency 29. Forward looking 30. Inspiring 31. IntegrityKey practices of most effective leadersModel the way 32. Enable others to act 33. Challenge the process 34. Encourage the heart 35. Inspire a shared vision(James M. Kouzes & Barry Z. Posher)Essex Institute 36. Ten Critical Leadership Flaws(Jack Zenger)Lack energy and enthusiasumAccept their own mediocre performanceLack clear vision and directionHave poor judgementDont collaborateDont walk the talkResist new ideasDont learn from mistakesLack interpersonal skillsFail to develop othersEssex Institute 37. Idea # 9 The baby on board is now your colleague in the workplace and seeks your guidance and support(Neil Howe)What Millennials WantMentoring and coachingAlmost daily feedbackProject co-ownership (working in teams)A solid work/life balanceA road map to success and job securitySeek work that is personally fulfillingEssex Institute 38. Idea # 10 Personnel problems dont go away until the people do(John W. Hanes, Jr. while on the Yellowstone River, Montana)Essex Institute 39. Ten Breakthrough Ideas The house always winsGet it right the first timeIf youre not thinking segmentation, youre not thinkingChange focus as family moves up the interest curveAlign financial aid with enrollment priorities Think net revenueThe middle class is an untapped marketLeadership countsmore than we thinkabout itThe baby on board is now your colleague in the workplace and seeks your guidance and supportPersonnel problems dont go away until the people doEssex Institute 40. Most things we worry about never happen(Tom Petty)David Erdmann Derdmann@rollins.eduEssexinstitute.comErdmannconsulting.comEssex Institute