Average Conversion Rate Achieves Highest Point Since Before 2014 According to Sparkroom Data
Although conversion rates were flat across all program types between Q2 2016 and Q3 2016, the conversion rate for online programs spiked in Q3 2016 to 8.8% according to the Sparkroom Q3 2016 Higher Education Inquiry Generation Review. This conversion rate is the highest for online programs since before 2014, and the cohort is not yet fully mature.
Conversion rates for campus-based programs peaked at 11.3% in Q4 2014 and declined every quarter since Q2 2015. The conversion rate slip from Q2 2016 to Q3 2016 was minor, potentially indicating the start of a stabilization period.
The top five program categories, in terms of inquiry volume, were consistent for most of 2015 and 2016, according to Sparkroom data. The top five categories are Health Professions and Related Programs; Business, Management, Marketing and Related Support Services; Education; Computer and Information Sciences and Support Services; and Psychology. In Q3 2016, these top five program categories comprised almost four-fifths of all inquiries generated.
Across all program categories, bachelor’s programs accounted for more than one-third of all inquiries and a greater percentage of all conversions.
The Sparkroom Q3 2016 Higher Education Inquiry Generation Review covers overall trends in the inquiry and student acquisition activities of higher education institutions for the period of January-September 2016. The report features the following topics: inquiry volume, conversion rates, channel distribution, inquiry costs, program distribution and degree-level distribution. Click here to get your free copy of the Sparkroom Q3 2016 Higher Education Inquiry Generation Review.
Through the deployment of award-winning technology and services, Sparkroom helps higher education marketers rapidly grow their enrollment volume. Sparkroom marketing technology and services address the full student lifecycle, with a focus on delivering higher-quality prospects and better conversion rates. Sparkroom performance marketing technology integrates campaign data, automates processes based on performance and provides holistic, cross-channel attribution reporting and analytics. Sparkroom enrollment marketing services include demand generation and student recruitment support to manage cross-channel marketing campaigns from strategy to execution to optimization and beyond. Sparkroom enrollment management solutions, inclusive of enrollment management consulting and short-term OPM engagements, layer on operational services for institutions in need of end-to-end support. Because Sparkroom technology and services streamline college marketing and operations efforts, higher education marketers trust Sparkroom to fast track their recruitment success. To learn more about Sparkroom, go to sparkroom.com.