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Best practice with CRM by higher educationProduct Type: Market Research ReportPublished by: Datamonitor Published: January 2006 Product Code: R313-14119 Description IntroductionDeclining numbers of graduating seniors will prompt higher education institutions to extend the use of CRM strategies beyond point solutions in the admissions and alumni development offices to become more enterprise wide initiatives. The support of student retention programs will be an especially compelling area for CRM in the future. Scope Offers a new definition for best practice with CRM by higher education institutions Summarizes a set of CRM vendors serving the education market Profiles the work three institutions are doing with CRM on their campuses Predicts how the higher education market will change its use of CRM in the future Highlights CRM solutions will be increasingly used to execute more advanced retention strategies. The line will blur between CRM, ERP and LMS, as institutions seek to integrate the functionalities of these applications. The need for competitive differentiation will drive a growing appetite for data, reporting tools and more sophisticated analytics. Reasons to Purchase Understand how to institutions to use products more effectively Align sales strategy with institutional buying preferences Shape product development and partnership strategies to align with emerging trends in the market Table of Contents TABLE OF CONTENTSABOUT DATAMONITOR 2 PUSHING THROUGH THE INSTITUTION GATES 6 Outline of the brief 6 CREATING A MORE EXPANSIVE VIEW OF CRM 7 Beyond admissions and advancement 7 Constituents are the institution 8 Important relationships are everywhere 8 One relationship does not fit all 9 Managing institutional relationships 10 It’s all about the plan 11 Execution is everything 11 Let data be the guide 11 ENABLING A MORE EXPANSIVE VIEW OF CRM 12 Solutions are targeted, distributed and everything in between 12 Institutional reach 14 Student lifecycle 14 Proximity to the core mission 14 Selected CRM solution providers 15 Jenzabar 16 LiquidMatrix 16 Oracle 17 SunGard SCT 17 Talisma 18 THE CASE STUDIES 19 How have three institutions implemented CRM? 19 Case Western Reserve University 19 DePaul University 21 University of Nebraska - Lincoln 22 What are the lessons learned? 24 There needs to be a good product to sell 24 Technology is an important part of the relationship 25 Build a strategy before choosing a solution 25 THE FUTURE DECODED 26 Retention is the next big thing 26 Roll ‘em up: CRM and ERP 27 The rise of analytics 28 APPENDIX 29 Abbreviations 29 References 29 Research methodology 29 Acknowledgements 30 Further readings 30 Relevant links 31 SPP writing team 31 How to contact experts in your industry 32 |
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