Dr. Nathan Grawe’s analysis of the impending demographic cliff is a familiar topic for enrollment leaders. His data-backed forecasts have held true to form over the recent years, and savvy enrollment leaders are looking for better ways to navigate these ongoing shifts. Chip Timmons, Director of Admissions at Wabash College is one such leader. His team has been using MARKETview data to project how his institution will fare; we asked him to share his story and illustrate how real-time, comparative data can identify the students who matter most for overcoming the uncertainty ahead.
Timmons described how his team viewed the ongoing market shifts in recent years.
“It’s been in front of our team here for a while, and we’ve always been talking about the need to be aware and prepare for it. But we never really had the context of what will happen to Wabash under these conditions.”
– Chip Timmons
But the Wabash team wanted to be more proactive about their preparation. During a discussion about the demographic cliff and resulting enrollment projections with his MARKETview team, Timmons made a special request:
“Hey here’s, a crazy idea,” Timmons said. “You guys have our financial aid data from the last two years, put the higher ed demand index over our net tuition revenue data, and let me know what happens if I don’t change anything.”
The MARKETview data team created a custom, forward-looking projection model that blends their proprietary data set with Grawe’s Higher Ed Demand Index. This enabled the Wabash team to gain a clearer understanding of institution-specific headcount and net tuition revenue over the next six years. Timmons outlined how this data helps his team pinpoint what’s working amidst constant disruptions.
“There’s this market force that’s hitting all of us that we have to deal with,” Timmons said. “It’s going to require change on our part with recruiting strategy, aid strategy, all these things. Now we’re able to put this into numbers that show where we’re having some success.”
In one of the toughest enrollment environments to date, having foresight into institutional performance is a game changer. It gives institutions a clear picture of what to expect if things continue being done in the way they always have been; and helps make the case for a shift in strategy.
But knowing what’s likely to happen isn’t always enough to stay ahead. Real-time, comparative data has the unique ability to pinpoint what’s working for your institution, and what isn’t. Having that level of insight can help institutions navigate a shrinking enrollment market by focusing on the students who matter most to their goals. Timmons illustrated how his team has benefited from this.
“When we were looking at our wins and losses last year with our class, the MARKETview data identified a household type and a student type where we overperformed relative to our peers. We were able to optimize our merit matrix in a way we believe will help us enroll more of those students.”
– Chip Timmons
This level of foresight gives enrollment teams like Timmons’ the assurance they need to implement innovative enrollment strategies knowing that their decision making is backed by accurate, real-time data. Timmons highlighted how MARKETview data empowers his team to not fall back on following trends.
“I have confidence that the results will speak for themselves when we get further into this cycle and help us establish credibility,” Timmons said. “We’re not just reacting to the competition.”
For Timmons, MARKETview provides a reliable source of truth for his team and campus stakeholders alike. He described how it helps him make the case for increased investment even in a challenging market.
“For any college out there, it’s probably feeling like we’re in a place where the demographics aren’t favorable. We’ve been talking about expanding our recruiting footprint, but I need some data or analytics from a third party to support it. MARKETview is a trusted resource, so the people I’m talking to view me as a trusted resource as well.”
– Chip Timmons
Chat with our team to see how MARKETview’s real-time data can keep you in the know throughout the enrollment cycle on the student populations that matter most to your goals.