You must have heard the phrase “You cannot improve what you cannot measure”?
This phrase completely suits your admission process too. It is important to track some important metrics to achieve the maximum out of your admission goals. But by just prioritising meeting your targets, you are only doing half the job.
In your race to achieve your targets, you are not looking at the big picture. You are forgetting about a big aspect of your admissions strategy: measuring, which comes with proper reporting.
It is important to focus on your admission goals, but it’s equally important to know how well your admission strategies are working. To know the effectiveness of your strategies, reporting plays a major role since it gives you deeper insights into your different teams, lead sources, and leads.
Why does your Admissions Team need Reports?
In addition to the importance of reports that have already been mentioned, it is now essential for all organizations to have the capacity to produce reports that are both understandable and insightful. Timely data generation and reporting enhance the ability to make more informed, evidence-based decisions.
With reports, you can:
- Be aware of what’s happening in your admission process
- Do effective resource management
- Keep your management up to speed
- Make data-driven decisions
You can deliver an effective admission strategy that greatly impacts your institute with the help of a good set of reports. This will also fundamentally change the way your team performs and how decisions are made.
3 Significant datasets that need to be tracked
Through surveys and in-depth analysis of our 350+ customers’ admission processes, we have figured out the top reports every institution should keep track of. We have collated these reports, which you and your team should keep a tab on every week to make effective data-driven decisions.
Lead Funnel Status Report
Lead funnel status report tracks the entire enrolment journey of the potential students from initial interest in an educational program to enrolment. It tracks the lead qualification (cold, warm, hot), engagement rate (open rate, follow-up, and time to respond), enrolment rate and average enrolment time.
It’s vital to keep an eye on where your leads currently stand in the funnel. By generating a report for this, you will understand how the leads are flowing in your admissions process.
These reports will help you answer questions like:
- How many leads have entered your funnel?
- Which stage in the admissions process takes the longest time?
- What leads should you focus more on?
- How many leads have been enroled and how many are still open?
Tracking lead funnel status is significant for several reasons:
- Understanding student behaviour: Lead funnel status helps understand the typical enrolment behaviour of target students and make data-driven decisions about how to optimize recruitment and enrolment efforts.
- Improving enrolment rates: By tracking lead funnel status, you can identify bottlenecks and drop-off points in the enrolment process and make improvements to increase enrolment rates.
- Measuring the effectiveness of marketing campaigns: Lead funnel status provides valuable insights into the impact of marketing campaigns on the enrolment process and can help optimize marketing spend.
- Prioritizing recruitment efforts: By understanding where leads are in the funnel, you can prioritize recruitment efforts and allocate resources more effectively.
Lead Count by Source Report
A Lead count by source Report provides a breakdown of the number of leads generated from different sources. It gives an understanding of which lead sources are contributing the most to the overall lead generation and can help prioritise and optimise lead generation activities.
The report can show the number of leads generated from such as:
- Website: Contact form submissions, landing page visits, etc.
- Advertising: Paid search, display ads, etc.
- Referrals: Word of mouth, partner referrals, etc.
- Events: Webinars, in-person events, etc.
- Content marketing: Blog posts, eBooks, etc.
To determine where you should invest more money, it is essential to understand the performance of your sources. You get a better picture of what source(s) are working the best for you.
This report gives you the answers to the following questions:
- What source is giving the maximum leads?
- What source is giving the good-quality leads?
- What lead source should you invest more in?
- What is the ROI of your sources?
Having a lead count by source report provides the following benefits:
- Better allocation of resources: Helps you and your team understand which marketing channels and campaigns are the most effective in generating leads, this enables them to allocate resources where they can have the greatest impact.
- Improved outreach: Allows you to identify which sources are underperforming, enabling them to make changes and improve their outreach strategies.
- Increased efficiency: By tracking leads and their source, you can see which efforts are producing the best results, reducing time and resources spent on ineffective methods.
- Data-driven decision-making: The report provides valuable data that can inform decision-making, ensuring that the admission process is as effective and efficient as possible.
- Measurable results: The lead count by source report provides a clear and measurable metric for the success of marketing and outreach efforts, enabling you to track their progress and adjust strategies as needed.
Counselor Productivity Report
A Counselor Productivity Report tracks the performance of admissions counselors in converting leads into students. It measures key metrics such as the number of leads assigned to each counselor, the number of leads converted, the time taken to convert leads, and the conversion rate.
Your team’s performance makes or breaks your admission rates. These reports help you ensure that your team works like a well-oiled machine! Through these reports, you get a clear picture of how your admission team is performing and pushing to reach their admission goals.
This report brings to light:
- Which counselor has the highest leads under their belt?
- Who has the highest enrolment rate?
- Who is the top-performing counselor?
A Counselor’s Productivity Report is important to track because it:
- Improves lead conversion: The report provides insights into the performance of individual counselors and helps identify areas for improvement and optimize lead conversion processes.
- Enhances resource allocation: By tracking the performance of individual counselors, you can make informed decisions on resource allocation and allocate resources to the most effective counselors.
- Increases ROI: The report provides valuable data on the cost of acquiring leads and the conversion rate, allowing you to make informed decisions to maximize their return on investment.
- Provides Transparent Data: The report provides transparent data that you can use to measure the success of different initiatives, improve performance, and make data-driven decisions.
- Enhances Accountability: The report holds counselors accountable for their performance and provides a clear measure of their contribution to your institution’s growth.
There are many more reports you can generate to make effective data-driven decisions. It becomes an uphill battle for your team when they have to create these reports manually using an Excel sheet.
This is where a robust education CRM comes in handy. An education-specific CRM can help you create multiple reports with just one click. You get a 360° view of your entire admission process and you don’t go through the tedious process of managing and collating data from multiple sheets.
In the end, for making effective data-driven decisions, you don’t need a lot of reports, you need reports that leave you with valuable insights. If you want a more robust list of Reports, check out our ebook – Top 10 Reports every admission team should track