The clip above was taken from a webinar I presented last month – “You’re Probably Optimized.” The recording is still available if you’re interested in the broader context.
Let me ask you a provocative question: do you think it’s possible that a new discounting model could lead to a 20% year-over-year growth in enrollment and revenue?
Of course not. As I discussed in the above clip, a well-tuned discounting model now holds you steady with your peers – it doesn’t help you pull ahead.
Had you been an early adopter of financial aid leveraging, you would have soared ahead.
Now, in 2023, if you want to have a competitive edge, you need to look somewhere else.
That’s where artificial intelligence and data science come in.
In 15 years, every single admissions office will be using machine learning, artificial intelligence, and data science to guide their outreach and recruitment efforts.
There’s no question that we’re headed there.
But, those of us who get there first, as enroll ml clients are discovering, are genuinely advantaged in their ability to recruit new students.
For every 100 admits, if you can find six students who were otherwise off-the-radar, and convince even just half of them to enroll – you’ve increased yield by 3%. From a 15% yield rate (on average), moving up to 18% changes everything.
A new financial aid matrix can’t impact that level of change.
Data science can.