Application to enrolments conversion rate – The little-known strategy to improve this
If you have a wonderful admissions team working on turning these applications to enrolments, but you’re still not being able to increase that conversion rate, here’s why…
These are not good applicants to start with.
What I mean by good applicants are the ones who are:
– have money
– ready to apply and enroll… have their wallets out
The more they fit these criteria, the higher the chance of them enrolling.
Of course, it’s still possible to convert applicants who don’t fit these criteria into enrolments, but it’s just very hard to do that.
The thing is, most education providers and digital marketing agencies focus on the mass market and in getting a low cost per lead or cost per applicant. In reality, what really brings in the money is the enrolment itself. If the cost per lead or cost per applicant is low, but there are only a couple of enrolments, then it’s really wasting your team’s time and your money.
How to really fix it is to make sure the sales messaging aligns with attracting these good applicants, not just any student. And this has to start with the top of the funnel, i.e. the ad itself, e.g. Facebook ad, Google ad, Youtube ad… What imagery, video, copywriting you have on them. then it’s the sales messaging on the website/landing page, etc.
So if someone tells you about how low their cost per lead/cost per applicant is – run the other way. They don’t get the concept of cost per enrollment. As a school, the most important metric is cost per enrollment.
It’s only when you have good leads and applicants, then your admissions team could turn more into enrolments.
Then you’ll need a separate campaign for people who are more mass market… the sales messaging focuses on them.