The fifth of Richardson and Basinger’s laws of fundraising was:
Law #5 Someone must close the deal. It is not enough to let our good work speak for itself. Someone must make the sale and ask for a commitment and the money.
This post will consider how this fits into the processes of student recruitment, retention, and alumni development.
Recruitment: Prospective students are asked to make at least five commitments to your institution. These commitment points generate what is known as the admissions funnel.
The admissions funnel begins with a large pool of students that are typically labeled prospects. These include any student that could benefit from the education offered by your institution. Generally the institution knows very little about these students beyond their name and address. The institution might also know admission test scores if the names have been bought from ETS, ACT, or a prospective marketing firm. The first commitment that these individuals are asked to make is give the institution an indication of interest and request additional information. At this point, these individuals are usually labeled inquiries.
The next step of the commitment process is having the inquiries complete an application. For all institutions, this will also involve a time commitment on the part of the prospective student because college applications may be lengthy and involved. For those institutions that charge an application fee this will also involve a monetary commitment.
At this point of the process, the institution makes a commitment to some of the applicants by accepting them and offering them admission. Accepted students are then asked to make another commitment by accepting the offer of admission and submitting a deposit to secure a place in the entering class. Finally, deposited students are asked to make the commitment of enrolling.
Each institution will establish a track record in terms of converting individuals from one stage in the commitment process to the next. In the absence of damaging news, very positive events on campus, or significant changes in how an institution works with or communicates with these individuals, the conversion rates are fairly consistent from year to year. Judicious use of these conversion rates will permit institutions to manage their enrollments from year to year.
Retention: Each successive semester involves a re-commitment on the part of continuing students to the institution and their specific programs. These reaffirmations do not just happen. The institution must take an active interest in students to insure their continual commitment to the institution. Academic advisers, resident counselors, faculty, and retention officers must be reaching out to students, encouraging students to maintain their commitment to their education and to the institution.
We know there are numerous reasons why students will attrit and not continue. The number one stated reason is finances. If an institution will scratch the surface and dig deeper into the thinking processes of those students who leave, it will find a myriad of reasons for attrition. These include dissatisfaction with a student’s academic performance or the academic life on campus, dissatisfaction with the social life on campus, time, family and health pressures, and a general “grass is greener on the other side of the fence” syndrome.
Alumni: Alumni have already made many commitments to the institution. If their experiences have been positive, they will completely understand the need for continual commitment. However, that commitment will not just happen. The institution must reach out to the alumni. In doing so, it must use its full arsenal of weapons to encourage continual commitment on the part of alumni. This arsenal will include faculty, career officers, student life professionals, alumni officers, and the advancement office.
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