How the latest Technology transforms Student Recruitment CRM
In a report produced by Deloitte Consulting entitled, Making the Grade 2015: The key issues facing the UK higher education sector in 2015 and beyond, it was highlighted that the increasing tuition fee cap has led to a focus on the student and their university expectations in a way not seen in UK Higher Education before. In this blog we’re going to look at how the latest technology transforms Student Recruitment CRM to help you deliver a first-class student experience.
Students are now paying more for their studies and expect a more lucrative return on investment, whether in academic quality, customer experience, employability or the facilities offered to them.
University strategies must become more flexible in order to best attract students in a highly competitive market, assessing their position and mapping the customer segments most important to them.
Universities need to understand how to effectively target those markets and have systems and processes in place to optimise these channels.
Other challenges faced by Universities are that students’ expectations are rising together with the level of competition in the marketplace. Costs are rising rapidly as Universities have to invest in infrastructure, teaching and administration staff to attract students.
Deliotte points out that without further transformation there is a significant financial risk for institutions as levels of expenditure start to outstrip growth in income.
Each institution has its own mix of subjects, its own cost structure, and each will need to reshape its operating model in order to best direct spending, attract revenue and reduce costs, the report says.
The advent of new technologies has provided the sector with new opportunities to ‘recast their back and front office functions’, says Deloitte. The response since has been positive, with digital spending rising in recent years and continuing to rise.
The report highlighted that Universities’ back offices require attention. There is still a reluctance to utilise technology in integrating and improving administration and student support, with only 16% of HEIs intending to implement improved digital solutions to enhance productivity. Such areas continue to rely on multiple IT platforms for different services.
With rising student expectations and demands, integrated and streamlined IT systems can ensure a smoother, more cost efficient administrative process.
Many HEIs have IT systems that just don’t join up. This leads to silos of information across the University making it very difficult to get a true understanding of how the University is performing and where there are any bottlenecks in systems and processes. To be truly successful HEIs are exploring how the latest technology transforms Student Recruitment CRM to help them to understand their potential students better, so that they can anticipate future requirements and respond to change as and when it occurs.
Universities need to implement CRM solutions that have been designed to fully integrate with existing HEI applications such as Student MIS, Active Directory, email marketing software and data warehouses for reporting. The solution should wrap around existing systems to provide one single view of the student right from initial prospectus request through to enrollment and beyond.
This means that key customer facing staff such as the Student Recruitment, Faculties, Administration Hubs and Marketing are all able to perform their roles to their best ability without having to waste significant amounts of time looking for information or reconciling data across multiple systems.
The implementation of CRM solutions also means that the HEI has live information in terms of recruitment figures, student segmentation and marketing ROI. This enables them to react quickly to market changes and legislative reforms.
The report highlights that another way in which Universities can use technology to reduce costs and improve efficiencies is through the use of Shared Service Centers (SSCs). SSCs integrate the back office/operational functions of similar organisations into a single structure. This model has been used effectively in local government for a number of years. This approach is attracting increasing interest across the HE sector; Deloitte found that some 10% of HEIs are considering SSCs in the future.
To find out more how AES (Achiever Education Software) Student Recruitment CRM transformed marketing operations at the University of Huddersfield, please follow the link, click here.