Maximizing deposit rate and minimizing yield through 1:1 conversations
Improving Deposit Rate through Personalization
Discourse Analytics worked with a small non-profit university in the Southeast to create attitudinally personalized messaging to expedite students through the admissions funnel.
Through an integration with the client’s applicant CRM system, Discourse Analytics consumed signal data and recommended a set of content tailored to nudge specific attitudinal profiles. A persistent 10% Control Group was held out from the treatment in order to provide a clean comparison.
Among prospective students who have been admitted, the Treatment Group had a 70% higher Deposit rate than students in the Control group, and arrested what would otherwise have been a significant drop.
From a Melt perspective (# Withdrawn Students before Drop / Add) / (Deposited Students), the test group outperformed the Control by 10.7% and the 2017 class by 45%.
Based on the 2018 outperformance of the Test group vs. the Control, we perform an analysis to forecast what would have happened without the Digital Counselor.
Applying the differential Deposit & Attendance rates would have resulted in 371 fewer students in the class of 2022.
At tuition of $45,970, the retained tuition for 2018 was approximately $17,054,870