In response to this top challenge, many institutions are turning to technology for help – and rightfully so. Implementing an AI-powered communications platform has been shown to increase yield by up to 10%. In fact, one study showed that for every $1 invested in admissions marketing and recruitment, there was a return of $7 in new student revenue. That’s a pretty good ROI!
But how does an AI-powered communications platform help address financial constraints? Let’s take a look at three ways:
1. By automating time-consuming tasks like data entry, an AI-powered communications platform frees up staff time so they can focus on more strategic initiatives.
2. By providing real-time insights into which messages are resonating with students (and which ones aren’t), an AI-powered communications platform helps colleges fine-tune their messaging – saving money in the process.
3. By automating repetitive tasks like scheduling appointments and sending reminders, an AI-powered communications platform ensures that nothing falls through the cracks – helping to increase yield and, as a result, revenue.
A recent survey conducted by the Association of American Colleges and Universities shines a bright light on the significant long-term fiscal health challenges that colleges and universities face. More importantly, the results point toward an enterprise-wide AI-powered communications platform as one way colleges can navigate the headwinds and choppy financial waters they will face in the years ahead.The headline result from the survey: 74% (!) of the 700 college faculty and mid-level / senior administrators surveyed in the Fall of 2020 were concerned about financial constraints going forward at their institution.
There’s no doubt about it – higher education is facing some serious challenges when it comes to finances. But by implementing an AI-powered communications platform, colleges can save money, increase staff efficiency, and fine-tune their messaging to better resonate with students. In other words, an AI-powered communications platform is one way to help address higher ed’s top challenges.
