Get a Grad Student to Apply; Get Online!
Last week I wrote a blog that referenced a number of articles, research papers, and online sources that supported the use of social media to successfully market MBA programs to potential students. Well, I recently came across another survey that further supports my previous conclusions.
GMAC just published their latest report from MBA.com and their 2010 Registrants Survey. In this report there were a number of significant findings including:
- Nearly half a million prospective students registered on the GMAC website in 2009 and the vast majority were intent on pursuing a graduate degree in business education in the next three months.
- One out of eight prospective students had no reservations about pursuing a graduate degree; however, the majority did have reservations regarding financing their education and incurring large debts.
- Prospective students were most likely to consider a two-year full-time MBA program, followed by a one-year full-time MBA program, a part-time MBA program, and an MS in management program.
While all of these three findings are key, the most interesting points I found in the report were not highlighted in the GMAC summary.
The 2009 MBA.com Survey Report found that of all the sources consulted by potential students in selecting a graduate school, a school’s website was found to be more influencing than published school rankings. This same point was noted in this year’s findings, but an additional influence category was added to the 2010 report. School-related websites were included in the list of sources that are consulted by potential students and heavily influence their decision to apply to a certain school. As of 2010, the biggest influencers, starting with most influential, in a student’s decision to apply are a school’s website (44.2%), any school-related websites (41.3%), and finally, a school’s published rankings (38.9%). Tangible school publications such as brochures or direct mail had much less influence at 30.1%.
It is also important to note that this report makes some observations in regards to the age and gender of potential students and their preferences for school resources and information. For example:
- Men were more likely than women to consult published rankings, chat rooms, and blogs.
- Respondents ages 24 to 30 were more likely than others to check business publications, published rankings, and school websites.
This report reiterates the point made in my previous blog posting. Graduate schools and MBA programs should give more attention to their program websites and any related websites that may be through social networks or other mediums. Students are actively looking at and consulting all available school resources on the web. By maintaining professional and well marketed school and school-related websites, the number of student applications will more than likely increase, thus allowing program admissions to be more selective and secure the highest caliber students.
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Tags: marketing, MBA, social media, website