Data analysis in education is what gives managers greater decision-making capacity, especially when it comes to inbound sales.
Attracting potential students and developing a relationship based on trust until they are ready to enroll is a process that demands excellent knowledge of the person you are talking to, which can be achieved through data analysis.
In this sense, understanding students’ needs is what makes their learning strategies student recruitment more effective, since your inbound sales team has the chance to establish what we call rapport, or identification, with each potential student.
It is for this reason that, in addition to monitoring the results obtained, it is necessary to know how to interpret them within the context in which your educational institution is located, in order to better use the insights to leverage results.
Find out now how to boost inbound sales with data analysis in education!
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Lead flow
Lead flow is a vital indicator for measuring the productivity of your inbound sales team. It represents the number of leads worked per consultant, per month.
First, you define a goal of leads to be worked on during the period, such as 200. Then, you segment this goal by channel: e-book download, online chat, email marketing, etc.
Data analysis will guide your actions regarding the choice of the best capture channels and lead conversion, as well as the performance of each consultant in closing enrollments.
Student Acquisition Rate
Data analysis in education also helps when measuring the effectiveness of your education team inbound sales in converting leads into students. The indicator used for this is the student acquisition rate.
This rate is expressed by the total volume of enrollments divided by the total volume of leads worked in the period, times 100 (so you have the percentage).
Knowing the student acquisition rate is the starting point for improving your entire marketing and sales process, from the moment of capturing leads to the moment of conversion.
It is important to highlight that the higher the student acquisition rate, the more efficient your inbound sales process is.
Discounts applied
Granting discounts is one of the most used strategies in the education sector to convert students into students. However, it is necessary to assess whether the discounts are not harming the profitability of your enterprise.
At the end of each month, add up the total volume of enrollments and the respective contracted values and calculate the percentage of enrollments completed with discounts. This way, it is possible to measure how much financial potential your educational institution has to earn and how much it is actually earning.
According to our experience, it is better to grant more reasonable discounts at the beginning of intake and move on to more aggressive discounts when you have already reached your financial goal in terms of enrollment.
Sales cycle
The decision for this or that college, this or that course, is one of the most important in a student's life, after all, it will impact some years of their life. Therefore, it is natural that the sales cycle in education is longer than in other markets.
Even with this characteristic, we cannot let the sales cycle affect the results, right? It is for this reason that one of the factors of data analysis in education is to monitor the sales cycle and seek to reduce it through lead education. To this end, strategies are used to inbound marketing, such as blog posts, e-books, email marketing and social networks, among others.
With the advancement of data analysis technologies, educational institutions are adopting more sophisticated approaches to understanding and optimizing the sales cycle. Learning Analytics tools allow real-time monitoring of lead engagement, identifying behavioral patterns that indicate a greater propensity for conversion.
In addition, the application of Big Data in education makes it possible to personalize recruitment strategies, adjusting them to the individual needs and preferences of potential students. These practices not only reduce conversion time, but also increase the effectiveness of inbound sales campaigns.
Additional Articles to Read:
- How to capture leads with inbound sales in the education sector;
- How to capture qualified leads in a digital marketing campaign?
- What is CRM and how can you use it to boost your student’s capture?
Enrollment volume by location
Educational institutions that have several units or that work with distance learning and have in-person support centers in different cities must pay attention to the volume of enrollments by location.
Monitoring this data is essential for you to be successful on all fronts of your institution, avoiding being left with incomplete classes or areas not served due to the inefficiency of inbound sales, such as student recruitment strategy.
Product performance
Understand the product as the course that is sold and you will have a strong indicator to determine the number of classes to launch, the number of students to enroll and also the investment to be made in marketing.
The educational market also has its seasonalities, when one course is more in demand than others. If you evaluate the performance of each course, you can serve the market in a more personalized and dynamic way, thus enhancing inbound sales.
The integration of Business Intelligence (BI) and Data Warehouse solutions has proven to be essential for institutions seeking to improve strategic decision-making. These tools allow the consolidation of data from multiple sources, providing a holistic view of course performance and facilitating the identification of opportunities for improvement.
With more accurate insights, it is possible to adjust course offerings, allocate resources efficiently and develop more targeted marketing campaigns, boosting inbound sales results.
Cost per lead
This indicator is one of the most important in data analysis in education. This is because, the lower the cost per lead captured, the more profitable your inbound marketing and inbound sales actions will be.
The consequence is obvious: more students enrolled with the same marketing budget and a more financially healthy educational institution. Here at Mkt4edu, we have already made a post teaching everything about cost per lead. Access it and find out more about it!
Compliance with data protection regulations has become a crucial aspect of student recruitment strategies. It is essential that institutions ensure transparency in the use of collected information, obtaining explicit consent from leads and ensuring the security of stored data.
In addition to avoiding legal sanctions, this approach strengthens potential students' trust in the institution, contributing to a stronger and more lasting relationship.
Caption: Person analyzing graphs with a pen on a digital screen, representing the importance of data analysis for inbound sales strategies in education.
Vendor ramp-up
For your inbound sales team to be in top shape, it takes time to adapt to the methodology and also monitor the consultants' learning curve. This period is called ramp-up.
So, if you know that for an educational consultant to start achieving the proposed goals, a 6-month ramp-up is necessary, you also know that you must hire new consultants at the same time in advance of the next intake.
Continuous training of the inbound sales team is vital to maintaining competitiveness in the education sector. Investing in training that covers the latest trends in data analysis, consultative sales techniques and the use of digital tools allows consultants to always be up to date and prepared to meet market demands.
In addition, professional development programs contribute to team motivation, which has a positive impact on student recruitment results.
Summary: Data analysis in education enhances inbound sales by guiding strategic decisions. Metrics such as lead flow, acquisition rate, sales cycle, and cost per lead help institutions optimize campaigns, increase enrollments, and improve sales performance.
Did you see how data analysis in education can make all the difference when it comes to enhancing your results? So count on those who know most about inbound sales in the education market. Count on 4RevOps!
How can data analysis improve sales in education?
Why is data analysis so important in inbound sales for educational institutions?
Because it allows you to understand the behavior of leads, identify conversion patterns and make more accurate decisions. With well-analyzed data, it is possible to personalize approaches, increase enrollment rates and reduce wasted resources.
What indicators should be used to evaluate the performance of inbound sales in education?
Indicators such as lead flow, student acquisition rate, cost per lead (CPL), sales cycle, performance by course and enrollment volume by location are essential. They show where the opportunities and bottlenecks are in the acquisition funnel.
How do you know if discounts are harming your enrollment results?
Just cross-reference the total enrollment volume with the contracted amounts. By calculating the percentage of discounts applied, your educational institution can assess whether financial goals are being met without compromising profit margins.
What is ramp-up and why does it impact the performance of the sales team?
Ramp-up is the time it takes for a new inbound sales consultant to reach their ideal performance. Knowing this time helps you plan hiring in advance and ensure that your team is prepared before new intakes begin.
How can technology help reduce the sales cycle in higher education?
Data analysis tools, such as BI and Learning Analytics, allow you to monitor lead engagement in real time. This makes it possible to identify the right moment to approach and adapt campaigns more accurately, shortening the time until enrollment.
Does analyzing data also help you choose which courses to offer?
Yes. By monitoring the performance of each course, your educational institution can understand market demand, adjust classes and direct marketing investment towards courses with the greatest conversion potential.
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