As a tuition-driven institution, Chapman University’s top focus is on making sure they hit their target discount rate and headcount goals. Armen Sarkisian, Director of First Year Admissions, discussed how his team is using real-time data from MARKETview data to identify and monitor what matters most to his team’s revenue and enrollment objectives.
By closely examining Chapman’s data through a comparative and historical lens, the MARKETview team has pinpointed key areas of focus, also known as Critical Elements, for Sarkisian’s team to target this cycle. For headcount goals, they need to give special attention to improving yield with students outside their talent-based programs.
For Chapman’s revenue objectives, the data revealed another Critical Element: building up the number of affluent students admitted to their institution. Sarkisian described how MARKETview’s ability to track the makeup of their pool in real time helps ensure that they are moving in the right direction.
“When I’m communicating up to our VP, we’re looking at the composition of our pool and seeing if there is a healthy enough cohort of students in those higher bands that are going to help us hit the discount rates that we’re aiming for.”
– Armen Sarkisian, Chapman University
The MARKETview data highlights a third group key to Chapman’s goals — students within 100 miles of their campus. This local audience yields better than students from farther away, making it an essential population to continue investing in. Sarkisian explained how MARKETview’s ability to monitor this group on a daily basis can also help to reframe headcount concerns.
“The knee-jerk reaction is to panic, ‘Oh my gosh we’re down seven percent, the sky is falling!’ But when you look at the composition of where you’re down, there can be some cautious optimism.”
– Armen Sarkisian, Chapman University
Sarkisian’s team is empowered to take informed action thanks to the monitoring of their Critical Elements available within MARKETview. One example is leveraging MARKETview’s Applicant Score, which provides a student-level likelihood to deposit score, to narrow the admit pool down to what Sarkisian described as a “palatable population.” The Chapman team is putting extra effort into influencing students with mid-range scores, particularly those nearby campus populations discussed previously.
Like many institutions, Chapman is heavily reliant on campus visits for conversion. Having the ability to identify the visit candidates who may be on the fence about Chapman allows their team to give that cohort specialized attention. For example, if students point out a specific faculty member they want to work with, Sarkisian’s team can connect with them and even extend an invite to join a class session.
By putting their focus on Critical Elements, the Chapman team is able to approach the upcoming yield season with greater confidence. They’re making informed investments in the students who matter most to hitting their revenue and headcount goals. Sarkisian elaborated on how MARKETview data is making a difference for his team.
“We’re moving quickly this year [with the data] instead of sitting on the sidelines.”
– Armen Sarkisian, Chapman University
If you have goals surrounding enrollment, revenue, retention, or any other key metrics, schedule a demo with our team to find out how MARKETview can help you achieve them.