It is very critical for a business to manage a good relationship with the customer. More the organization is customer-centric more it becomes successful. And the education industry is no exception to this norm. In today’s fast-growing educational industry prospect student are having lots of options to shift from one institute to another. So to have a great brand presence & recall is absolutely critical. And at this critical admission’s time, it’s important to have periodic & relevant communication with the prospects. Traditionally all the lead data used to reside on legacy close ended ERP’s or was filled manually on excel sheets making it absolutely impossible to nurture, analyze & timely communicate.
CRM software provides the solution to most of the student touch points effectively on time so that the educational institutes will be ahead of their competitors.
Since the last decade, the education sector has shown tremendous growth
- India has more than 1.5 million schools with over 260 million students enrolled.
- The school enrolment for the age group 6-14 reached 96.9 percent in 2016.
- The education industry in India is estimated to reach US$ 144 billion by 2020 from US$ 97.8 billion in 2016.
- It’s not just the students and their parents pouring money for higher education but investors also showing heavy interest as during April 2000 to June 2017, the inflow of US$ 1,465.44 million was witnessed as Foreign Direct Investment (FDI) in the education sector.
And the Gross Enrolment Ratio (GER) i.e.statistical measure used in the education sector, and formerly by the UN in its Education Index, to determine the number of students enrolled in school at several different grade levels (like elementary, middle school and high school), and use it to show the ratio of the number of students who live in that country to those who qualify for the particular grade level. of 30 percent for higher education by 2020 to drive investments. So the supply side will drive more demand.
In this blog, we will tell you how CRM software and automation helps education institutions achieve the following key benefit in their admission’s strategy
- Increase the counselor’s productivity
- Timely follow-ups
- Decrease lead leakage
- Optimized marketing cost
- Ease in decision making
Why CRM & Automation are Important?
A good customer relationship management ( CRM ) and automation software play a crucial role in the marketing and recruitment of students. With CRM work can be automated which were earlier done manually and Institute can take more effort on students who are serious about their interest in their institute.
Some of the other benefits of a CRM Solution
Increase in productivity of the Admission Teams :
Google Adwords, Facebook ads, YouTube ads & 3rd party student platforms, etc are the primary sources for educational institute to generate leads. Assessing leads manually is a pain as there is no single source to rely on for analysis. CRM software helps in integrating all these sources into one single platform and automate certain tasks. SMS and Emails which would take hours to send manually could be done in a few clicks with a CRM software. It enhances prospect engagement so that institutes can increase their top of the funnel. As the conversion of prospect increases so does the revenue.
Timely Follow-up to accelerate admissions
Follow up is very important in converting prospects to a student. But if you don’t communicate on time you might miss out the opportunity. Traditionally institute stores the data of prospective candidates into an ERP system and communicate with them manually through mail or SMS.
But, with a CRM you don’t have to worry about missing out on prospects, you could set up notification alerts across devices i.e. admission powered on smartphones in the Calendar through the tool. This way you can set up your campaigns with your prospects for a week or more without the need for excel sheets.
Decrease In Lead Leakage increased top of the funnel
As the number of prospects increases at the start of the admission process the number of admission increases. In the peak of the admission period, the counselor needs to deal with a huge number of enquiries. No matter how aware the counselor is there is a chance of human error where the counselor may miss some enquiries at the top of the funnel. CRM solution helps to deal with this as all of your leads are going directly in the system decreasing lead leakage.
Proper integration of all marketing channel plays a crucial role in the admission process. If all the marketing channels are well integrated with the CRM software it will increase the number of prospects to the top of the funnel. Also, CRM helps in prioritizing the prospects according to their seriousness and interest level. You can attend the prospect according to the stage they are in the sales funnel and approach them accordingly. This will help decrease your lead leakage drastically which increases your overall conversion rate.
Decrease In Marketing Cost leads to true ROI
CRM solution tracks all of your marketing efforts at one place compared to source specific platforms. Since you have all the data at your disposal you can make strategic decisions for a better ROI. It basically tells you what are your most successful campaigns when it comes to enrolments, helping you invest money in the right marketing channel to get maximum output. As you learn where to invest and how much to invest according to the data you have, marketing cost decreases substantially. As marketing cost decreases your per student admission cost also decreases.
Ease in decision making with actionable insights
When you are dealing with thousands of prospects. It generates lots of data and it is very much useful to analyze data and extract valuable information from it. This information helps you to make decisions, plan your future strategies, predict outcomes which will directly impact your ROI. This information basically consists of different reports like year on year growth reports, Email & SMS reports, Drip campaign reports, counselor performance reports, and many more. Drip campaign mostly helps you in understand A/B campaign and gives you a report that which campaign is better. From Email analytics, you can get the data of opened emails and bounce emails. In the case of a counselor, it gives you insight about which counselor needs training and which one is doing better.
“The future of communicating with customers rests in engaging with them through every possible channel: phone, e-mail, chat, Web, and social networks. Customers are discussing a company’s products and brand in real time. Companies need to join the conversation. Marc Benioff – CEO SalesForce”
The Indian education sector is growing rapidly. Education institutes receive thousands of enquiries everyday which they have to assess. It is impossible to track all of these enquiries manually as it is a very hard and tedious job. It consumes money, time as well as human resources at a large extent. And in today’s competitive world you cannot afford that, therefore having a CRM solution in place could help education institutes automate their marketing task, integrate all their resources so that proper communication happens throughout prospects journey, decrease lead leakage so that conversion rate increases which in turn leads to better ROI.
Schedule a demo with us today to see the automation CRM tool in action.