Posts Tagged ‘higher education value’

Psychographic Segmentation: How Personality Traits Impact a Student’s College Selection (Part 2)

April 23rd, 2015

[This is the second in our two-part series on the use of psychographic segmentation to frame your communications with prospective students.]

Psychographic segmentation is an effective strategy that can be indispensable in higher education and can impact every stage of your funnel. Using this approach can be a very powerful tool in your mass marketing efforts and will make the conversations that your counselors have with students far more meaningful and persuasive.Eye_For_College

In Part 1, we focused on segmenting students by their fact-based or excitement-based decision making. Now, let’s delve into psychographic segments based on students’ personality traits; how the relationship between specific personality types are associated with what they desire in a college and what communications strategies are most successful in moving the needle of their excitement.

What can you learn from psychographic segmentation?

The 12,000 students who participated in our newly-released study, The Excitement Factor!, identified their personality traits for us. Then, we asked them to specify what they want in a college.

Through statistical analysis, we uncovered four distinct personality types. We labeled them as follows:

  • Warm and trusting (23%): Easygoing, warm, caring and trusting
  • Assertive extrovert (19%): Spontaneous, risk-taker, assertive, social and extroverted
  • Skeptical introvert (40%): Private, introverted and skeptical
  • Analytical perfectionist (18%): Analytical, ordered and a perfectionist

We also explored the associations of those segments with the type of college students say they most desire.

  • Warm and trusting: Career-oriented, friendly, values, safe, personal and affordable.
  • Assertive extrovert: Social, career-oriented, fun, exciting, friendly, values, safe, personal, affordable and sports.
  • Skeptical introvert: Diverse and liberal.
  • Analytical perfectionist: Prestigious, challenging and well-known.

In addition to analyzing the association between personality type and desired college environment, we examined associations with personality types and the most effective communications methods. For example, we found that “warm and trusting” types are more responsive to Facebook than any other personality group.  And, whereas both “warm and trusting” and “assertive extrovert” types will respond positively to text messages from a college, the “analytical perfectionist” will likely be turned off by that style of communication.

Imagine the power of knowing the personality traits of each student in your funnel.  Admissions counselors can have a fuller understanding of each student they talk to so they can serve them best. They can know what they want and why. They can know how an individual student makes decisions and how to frame a value proposition that will most resonate with that person.  A college that gathers this information early in the recruiting cycle (for instance, now for the Class of 2016) can tailor every communication with a prospective student in a highly-personalized way that will dramatically improve the quality and richness of your communication with them.

To do this, many of of the colleges we work with use our Yield Enhancement System (YES) to uncover buying decision and personality-type segmentation. The intelligence uncovered is highly-valuable at every phase of the recruiting cycle, including the final weeks of the yield season.  Some admission offices successfully use this information for more effective one-on-one interactions.  Others fully-integrate the information into all communications by attaching a segment code to each record in a CRM system, thereby providing the trigger to drive specific types of appeals delivered through conversation, email, on-campus interactions, and so on.

The release of The Excitement Factor! is creating a great deal of thought-provoking discussion among enrollment managers and higher education marketing professionals. The project uncovered a wealth of highly valuable information on how your ability to create student excitement about your college can drive your enrollment. You can DOWNLOAD  the report now.

Continue the conversation on Twitter @LongmireCo. For more information about Longmire and Company’s Interactive Counselor Training Program, click here. Be sure to Subscribe to Versions of Conversion today so you don’t miss any of this highly-valuable information.

RHL_Photo_100x100Bob Longmire is President of Longmire and Company, Inc. He is a recognized expert on the topic of how prospective students and parents form their college selection decisions – and how colleges can use that knowledge to grow and control their enrollment. He can be reached at (913) 492-1265, ext 709 or at blongmire@longmire-co.com. Connect with Bob at Linkedin/in/boblongmire.

Psychographic Segmentation: How Prospective Students Decide (Part 1)

April 15th, 2015

[Today begins a two-part post on the use of psychographic segmentation to frame your communications with prospective students.]

In the world of higher-education admissions, this is a very demanding, challenging and exciting time of year. You are in the final weeks of yield season for your 2015 incoming class and you are also beginning new efforts aimed at Fall 2016. With that in mind, I want to share some new information that can help you in both your short and long term recruiting efforts. It involves segmenting your pool of prospective students psychographically. It’s about finding out what’s going on in the student’s head, and how it will influence their college selection decision.

Eye_For_CollegePsychographic segmentation is an effective strategy that can be indispensable in higher education and can impact every stage of your funnel. By definition, segmentation simply involves dividing a broad target market into subsets of consumers (in our case prospective students), who have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to make your personal and mass communications more effective to the various segments you have identified.

You may already group your prospective student pool into geographic and socioeconomic segments. And you might overlay additional data sets for the purposes of predicting outcomes (such as enrollment). Predictive analytics is fantastic. As a marketer, I love it. But my sales background makes me want more. I want to understand each person I’m talking to. I want to know what they want and why. I want to know how they make decisions. I want know how I can frame a value proposition that will most resonate with them. I want to know how they can be best served.

You can get this information from prospective students and it will dramatically improve the quality and richness of your communication with them. You just have to ask them for it.

We have. About 20,000 college-bound students have participated in our most recent national co-sponsored studies, Your Value Proposition and The Excitement Factor!

In those two studies, we uncovered what is going on in their heads as they search for the kind of college they want. We gained insight into how they make decisions. Multiple psychographic segments emerged.

For starters, The Excitement Factor! study uncovered three distinct segments of prospective students with regard to college selection: Those who make their decision based primarily on facts; those whose decisions are driven by their excitement about attending; and those who will make their college selection decision with an equal measure of facts and excitement. As it turns out, each group represents one-third of the total.

Within the facts and excitement segments there are students who are just slightly more inclined to make their decision on facts or excitement. And there are students who make their decision exclusively on facts or excitement.

In conversations with a prospective student, an admission counselor can ascertain which of the three categories the student falls into by asking a few simple questions. When you know where an individual student falls within this spectrum you can make every communication you have with him or her more meaningful. For instance, in conversations with a prospective student a counselor can present information (factual, experiential, or an equal mix) in the context that the student is most likely to absorb and find valuable. Campus tours can be segmented in a manner that will capture the student’s enthusiasm. Your emails will be welcomed and thoroughly read because the student will find them relevant.

A similar process of segmentation and messaging is possible on a mass marketing scale, as well. You may already have in place the technology to personalize by segment everything from brochures and viewbooks to emails and text messages. The key is to gather the type of prospect intelligence that will accurately classify a student as being a fact-based, excitement-based or balanced decision-maker. To do this, many of our clients use our Yield Enhancement System (YES) to uncover this buying decision segmentation. A segment code can be attached to each record in a CRM system, thereby providing the trigger to drive specific types of appeals delivered through conversation, email, on-campus interactions, and so on.

This blog post has focused on segmenting students by their fact-based or excitement-based decision making. In our next post, we will explore more psychographic segments in which students described their personality traits, and how those traits are associated with what they desire in a college, and what communications strategies are most successful in moving the needle of their excitement.

The release of The Excitement Factor! report is creating a great deal of thought-provoking discussion among enrollment managers and higher education marketing professionals. The project uncovered a wealth of highly valuable information on how your ability to create student excitement about your college can drive your enrollment. You can CLICK HERE  to receive an advance copy prior to its national release.

Continue the conversation on Twitter @LongmireCo. For more information about Longmire and Company’s Interactive Counselor Training Program, click here. Be sure to Subscribe to Versions of Conversion today so you don’t miss any of this highly-valuable information.

RHL_Photo_100x100Bob Longmire is President of Longmire and Company, Inc. He is a recognized expert on the topic of how prospective students and parents form their college selection decisions – and how colleges can use that knowledge to grow and control their enrollment. He can be reached at (913) 492-1265, ext 709 or at blongmire@longmire-co.com. Connect with Bob  at Linkedin/in/boblongmire.

New Study Underscores Volatility of First Choice College

April 8th, 2015

Many students enter the college selection process with, at a minimum, one or two colleges that are at the top of their list of preferred schools. It’s inevitable that some students will replace their initial first choice college with another institution they find more attractive during the course of their selection process. But how often does this happen?

More often than you think! Roughly 40% of students from the pools of public and private colleges swap out their former first choice school with another institution during their college selection process. This happens in about 25% of cases for prospective community college students.

Excitement_Factor

What motivates students to change their minds? And, more importantly, what can you do about it?

As you probably suspected, one factor is cost. Among those students bound for four-year institutions, approximately half replace their first choice college for one that costs less.

The issue of affordability is a tough one to tackle as an admissions counselor. (We have previously addressed proven strategies for presenting your institution’s unique value proposition in a manner that will take you from “too expensive” to “totally worth it.” See here.)

However, there are times when it is not going to be within your power to make the cost of your college feasible for a student you would like to enroll and they will find a better financial fit elsewhere.

Here is the good news: You do have control over the factors that are influencing the remaining pool of students who are likely to make a change. In the soon-to-be-released study, The Excitement Factor!, which explores how students arrive at that decision point, we uncovered that half of students that change their minds, do so for one of two reasons:

  • Perception of better quality at another college
  • Greater excitement about attending another college

college choice change graphicYou can protect your school from losing prospective students by presenting your college’s value proposition in a powerful, highly-personalized way. You and your team have been working for months to create student excitement about your institution. Every promotional brochure, email, campus tour, press release, personal conversation, every single effort you have put forth to make your class, has been designed to emphasize your college’s unique attributes in a way that will spark the enthusiasm of your prospective students.
But, it you aren’t asking direct questions about how a student feels, how excited (or not) they are about your college, how they feel about your college and the others they are considering, you will not learn what you need to do to change false perceptions and generate the kind of excitement that will lead to enrollment.

We encourage you to step out of your comfort zone and ask questions of students and parents that you have never asked before. Don’t worry that those questions will be too intrusive. We have done years of research on this topic, talking with hundreds of thousands of college-bound students and their parents, and have never found these questions to be considered invasive. We do, however, hear frequent complaints from students that the counselor did not attempt to get to know them better.

Best strategy: Listen to what they say. Listen for how you can help them. Ask penetrating questions and your prospective students will know that you truly want to get to know them more as a person.

We help colleges and universities with their recruiting efforts every day, especially now during yield season. If we can help you, please let me know.

If you would like a copy of The Excitement Factor! as soon as it is released, you can CLICK HERE to send us an e-mail to put you on the distribution list.

Continue the conversation on Twitter @LongmireCo. For more information about Longmire and Company’s Interactive Counselor Training Program, click here. Be sure to Subscribe to Versions of Conversion today so you don’t miss any of this highly-valuable information.

RickMontgomery_100x100Rick Montgomery is as an Enrollment Strategist at Longmire and Company. With over 20 years in higher education marketing, he brings an innovative approach to helping colleges and universities meet their enrollment goals. Rick can be reached at 913/492.1265 x.708 or via email at rmontgomery@longmire-co.com.

Yield Enhancement Series: The Final Push – Share and Learn From Your Peers

April 1st, 2015

[This is Part 8 of the Yield Enhancement Series: The Final Push, offering actionable and effective strategies for the closing weeks of the yield season.]

Tonight, Longmire and Company is honored to be the featured guest of the Twitter chat group #EMChat at 9 p.m. (ET). We hope you will join us for a lively discussion about how to have richer and more productive conversations with prospective students.Yield-Enhancement-Series

The topic is particularly timely, because our research tells us that that nearly 50% of students will make their emotional commitment to a college in the next eight weeks. I can’t over emphasize this point: Every single conversation, every interaction you have with a student or a parent right now, should be focused on how you can get that student to the highest state of excitement about enrolling at your college.

If you aren’t already following #EMChat, you are missing out on a wealth of valuable information from an online community of higher education enrollment management professionals interested in advancing the field. Since founding the group in 2011, Alex Williams (@AlexMWilliams), Jennielle Strother (@EMjennielle) and Jillian Hiscock (@jhiscock) have been bringing admission professionals, counselors, directors, VPs, and higher education partners, firms, and consultants together to tackle enrollment and admissions issues.EMChat_Logo

What makes EMChat unique and especially constructive is the top-notch caliber of enrollment management professionals it attracts. For instance, tonight’s chat will be moderated by Stephen Ostendorf (@Ostendorff), a highly-respected and enormously successful higher-education marketing specialist.

Our own Karen Full (@KarenAFull) has been a moderator and devotee of EMChat for several years and will be part of tonight’s discussion. When Karen joined Longmire and Company as an Enrollment Strategist last year, after an impressive career in enrollment management, she brought along her passion for higher education and admissions and she will share her distinctive perspective with you tonight.

In tonight’s chat we will explore the core issues relating to your communications with the students you are hoping to admit, such as:

  • How do your conversations and interactions with prospective students improve yield?
  • What actions can you and your team take to improve your marketing and interactions with prospective students?
  • How do admissions reps sometime “get in their own way” when working with prospective students?
  • What are the most common concerns/objections you are currently encountering from your admitted students and how do you deal with them?

Be sure to take advantage of this opportunity to share ideas with admissions professionals who have the same challenges that you are facing every day.

At Longmire and Company we believe that the conversations between prospective students and the colleges they are considering can be much richer and more fruitful for both. When that happens, both sides are better served. We give colleges a greater understanding of what motivates individual students to select a college and remain enrolled. Our products and solutions help institutions realize greater efficiency and productivity in their recruiting practices. We help colleges and universities with their recruiting efforts every day, especially now during yield season. If we can help you, please let me know.

We will soon be releasing the findings of our national co-sponsored study on the impact of a student’s excitement about attending a college on the ultimate college decision. If you would like a copy of our Excitement Factor report as soon as it is released you can CLICK HERE  to put your name on the distribution list.

Continue the conversation on Twitter @LongmireCo. For more information about Longmire and Company’s Interactive Counselor Training Program, click here. Be sure to Subscribe to Versions of Conversion today so you don’t miss any of this highly-valuable information.

RHL_Photo_100x100Bob Longmire is President of Longmire and Company, Inc. He is a recognized expert on the topic of how prospective students and parents form their college selection decisions – and how colleges can use that knowledge to grow and control their enrollment. He can be reached at (913) 492-1265, ext 709 or at blongmire@longmire-co.com.