Let’s begin by addressing the elephant in the room, the sobering statistic that most universities already know. 90% of all inquiries do not convert.
You don’t need to be a marketer to know that lead generation is not easy. Getting to “Yes” is one of the most significant challenges a school will face. It’s no trivial endeavor. Butdespite massive budgets and clever marketing campaigns, many universities, small and large, are still falling short in their attempt to generate quality inquiries that will convert into conversations that will eventually become new students.
The question that naturally arises—one being asked on campuses across the country—is why? And, of course, the follow-up question: What can we do to improve thesenumbers?
Finding the answers to these questions is fundamentally one of the most important things a university must do.Ignoring them is unacceptablebecause the alternative is unacceptable.
After all, what happens to the 90% of prospects that do not convert?
They defer their decision.
They go to your competitors.
And making matters worse, this trend will continue as online lead generation becomes a larger part of a university’s media mix. In other words, conversion might diminish.
The harsh reality is simple. There exists finite lead inventory, which is especially true for those high-quality leads that every school is desperately trying to pursue. Now, for many universities, the solution may seem simple. Buy better leads. Higher quality leads. And there is certainly logic to this. But, there is an alternative that we recommend, one that we have found offers universities better results. And for a fraction of the cost.
Our recommendation is simple: spend less on acquiring more leads and convert a higher percentage of your existing leads. Think about it. What are the top reasons leads don’t convert?
- Lack of staff and resources:TheUniversity simply cannot respond quickly enough
- Reps do not call on a timely basis
- Reps stop calling after they make 1 or 2 initial calls
- Reps don’t make contact at all
What successful universities are discovering is that the solution to improving inquiry conversions is in the process itself—how they approach the leads they already have.
This is good news for your university. While your competition focuses on lead acquisition, you can take advantage of implementing strategic processes to improve your lead to start conversion by at least 1% to 3%.
After all, isn’t it time your inquiries became a part of that coveted 10% that actually convert?
If we can help you convert more leads, call us at 877-434-1828 or email Greg at firstname.lastname@example.org. We’re here to help your university succeed.