The Best Case Scenario
Think about where you were prior to the pandemic. Most institutions were heavily challenged by:
A decline in the demographic that made up the majority of the student population.
Escalating discount rates and declining net tuition revenue.
Supply outweighing demand, resulting in nearly commodity-buying.
Affordability to reach a growing demographic with less ability to pay.
Increasing number of students starting their education at community colleges.
Students enrolling with more credits, thus lowering revenue potential.
And more.
Unless one of more institutions in your market have closed and you are the beneficiary of their enrollment, getting back to the situation prior to the pandemic is likely your best case scenario. But, of course, we know that the virus and associated economic downturn has added new, significant challenges. Will K12 schools open? If they do open will they allow visitors on campus? Will grades and standardized testing be available? Has the affordability curve changed for current and prospective students? Will college fairs be virtual? Will campus tours be virtual? Will more students opt for community college or online programs? Will we be able to accurately predict enrollment throughout the recruiting and admissions cycle? Will current policies and practices work for us or against us in the new economy?
It is likely that in even the best circumstances, recruiting and admissions will have some virtual aspects to it. And, while we are in the final stages of FA20 enrollment, SP21 and FA21 are looming on the horizon.
Let me respectfully pose a couple of questions:
If you could increase your enrollment and predictability for substantially less than the net-tuition revenue from one student, would it be worth it? How many incremental students would make it a worthwhile investment?
Would you wait until you are in the final stages of enrollment for SP21, or would you do what you can now to positively impact the enrollment for that semester and FA21? Keep in mind that typically in the past, by SP21, most FA21 apps have been received.
We specialize in customized, comprehensive, institution-wide enrollment assessments that take into account all operational aspects of an institution that affect enrollment.
Over our ten-year history, we have been able to achieve 100% of our client’s objectives, including increased enrollment.
And now, through our new Subscription Consulting Service (SCS), this assessment is available at unprecedented pricing – as much as 30% off the fixed price.
It doesn’t cost anything to talk, so why not contact us to discuss how we can work with you to help? We are not just consultants, we are experienced practitioners with a proven track record. You can reach us at 720-233-3227 or at mmc@mikemoroney.com.