the art of boarding school admission
DESCRIPTION
Tailored toward boarding schools, this presentation by the CFO of The CollegeBound Network discusses approaches for marketing to prospective boarding school students and parents. Learn how to leverage lead generation to increase your school's enrollment.TRANSCRIPT
The Art of Boarding School The Art of Boarding School Admissions WebinarAdmissions Webinar
With Greg O’Brien, Chief Financial Officer of The CollegeBound Network and 10-year education industry veteran
Welcome To
INTRODUCTION
Greg O’Brien – CFO, The CollegeBound Network (CBN) CFO of CBN, also manages CBN Enrollment Management
(EM)products and services 10 years experience in higher education Former EVP of Enrollment Management, with a leading
educational publishing business Consulting on lead generation and EM with several non-profit
and for-profit institutions
Since 1987, The CollegeBound Network (CBN) has worked with America's leading colleges, universities, career schools, boarding school institutions, and other educational providers in connecting learners with educational opportunities. CBN specializes in recruitment lead generation solutions for 900+ educational institutions and 3,500
campuses Includes 13 content-rich portals, affiliated sites within its Education Online Network, Television/Radio,
and over-the-phone Student Services
BoardingSchoolHelp.com, The CollegeBound Network’s boarding school portal Matches boarding school providers with parents seeking specific boarding school opportunities,
from religious-affiliated or military boarding schools, to therapeutic boarding schools and wilderness programs.
Parents are able to learn about and request further information from schools that match search their criteria.
ABOUT THE COLLEGEBOUND NETWORK
Discuss approaches to admissions andmarketing to prospective boarding school students and parents
Learn about lead generation and the various options available
Techniques to improve your enrollments and conversions with effective follow-up strategies
Q&A
WHAT WILL WE COVER TODAY
To Do List:
UNDERSTANDING COST PER LEAD/INQUIRY (CPL)
Source: BMO Capital Markets
CPL means you pay only for leads/inquiries from students who specifically request information on your institution or program.
This enables you to budget for and work with only the most targeted, qualified inquiries.
EM FUNNEL OPERATING METRICS
Sources of New Students for Select For-Profit Providers (FY2002-FY2009)
Source: BMO Capital Markets estimates and company reports.
FROM LEAD TO NEW BOARDING SCHOOL STUDENT
Source: BMO Capital Markets
Admissions Funnel
Operating Parameters Target/goal number of enrollments Target/goal enrollment growth (%) Segment targets by channel
Campus, delivery method, academic program, geo, other demographics, etc Tracking & transparency
Life Cycle Prospect contact management Application life cycle management Student life cycle management (retention)
DEFINING YOUR EM FUNNEL
Lead flow Cost Per Lead/Inquiry (CPL) Conversion – lead to appointment Conversion – lead to application Conversion – lead to enrollment Effective Cost Per Enrollment
WHAT IS LEAD GENERATION?
What does it cost to enroll a student in your school?
Publishers- The CollegeBound Network- eLearners- QuinStreet
Brokers/Agencies- Ward Media- Vantage- CU Net- DataMark
EM SOLUTION PROVIDERS
Lead Generation Sources:
How do they do it? Lead content, sources, etc. How to measure cost and quality
No matter how you generate your leads, it’s the follow up that reallymatters if you want to increase thenumber of boarding school applicants,and ultimately enrollments.
THE ART OF THE FOLLOW UP
The most common assumptions:1) I’m interrupting them.2) They’ll think I’m a telemarketer.3) They’ll get annoyed that I’m calling too much.4) They’re too busy to come in for a tour.5) They live too far.6) They don’t have enough money.7) They’re just gathering information. 8) They need time to “think” about it.
WHAT ARE THE BIGGEST CHALLENGES WHEN CONTACTING A PROSPECTIVE STUDENT?
Actually Reaching Someone By PhoneHow do you make morephone contact?• INSTANT Call Back. Why?• Lots of calls. INCREASED DIALS are
DIRECTLY related to INCREASED Enrollments! There are NO Shortcuts!
WHAT ARE THE BIGGEST CHALLENGES IN SETTING APPOINTMENTS?
Ask yourself this: Would you be embarrassed to offer someone gold? What about an education?
Consider the lifetime value a boarding school education offers.
Call with that perspective!
WHAT ARE THE BIGGEST CHALLENGES IN SETTING APPOINTMENTS?
1) To authentically connect with your potential student/parent.2) To find out the core motivation of a potential
student/parent.3) To find out their educational goals.4) To establish yourself as a powerful resource for your
potential student.5) To establish the value of the appointment.6) To create an appointment that shows.
WHAT IS THE ACTUAL PURPOSE OF THE FIRST PHONE CONTACT?
The focus needs to be on your potential student and his/her outcome. It’s NOT about how wonderful yourschool is – it’s about the wonderful thingsyour school can do for the student!
HOW DO YOU CONVERT AN INQUIRY INTO A NEW STUDENT?
INFORMATION
However, a decision as big as sending their child to a school should NOT be decided during a 10- minute phone conversation. That’s what appointments are for.
WHAT DOES A PARENT WANT WHEN THEY INITIALLY CONTACT A SCHOOL?
They need to reflect upon and feel their present reality.
They need to explore their child’s future possibilities.
They need tools and support to help make an important family decision. That is what you offer!
WHAT DOES A PARENT NEED WHEN THEY CONTACT A BOARDING SCHOOL?
Educational Life Coach
Admissions Motivator
The Bridge
WHAT DOES A POTENTIAL STUDENT NEED WHEN THEY CONTACT A SCHOOL?
1) How did they hear about your school?2) What inspired them to explore a boarding school
education?3) What are they looking for in a boarding school experience?4) Reflection5) Bridge to the appointment… NOT a close.6) 24-Hour Affirmation Call
WHAT SCRIPTS DO YOU USE?WHAT ELEMENTS NEED TO BE INCLUDED?
Gregory P. O’Brien
Chief Financial Officer
718-761-4800, ext. 128
646-422-9946 (m)
The CollegeBound Network1200 South Avenue, Suite 202
Staten Island, NY 10314 www.collegebound.net/corporate
QUESTIONS
Kristy Fallon
Account Executive
718-761-4800, ext. 124