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Competition to Recruit and Retain Students Drives CRM

BOSTON, Mass.—April 18, 2006 —Constituent relationship management (CRM) systems are becoming critical tools for higher education administrators seeking to improve student recruitment quality, retention, and alumni engagement. The result: the CRM market in higher education is projected to grow in excess of 20% over the next two years, according to a new Eduventures report, Constituent Relationship Management Makes Inroads in Higher Education.

Despite estimated overall budget increases of less than 2% during the last academic year, institutions plan major increases in their CRM spending, the report said. The report indicates that an estimated 23% of institutions in the 2004-2005 academic year had CRM software in place, with another 22% expected to implement during 2005-2006. 

“CRM can be a vital tool for higher education institutions,” said Eduventures senior analyst for educational technology, Catherine Burdt. “Improved ROI is the key driver, whether in the form of increased admission yields or retention rates. CRM systems are seen as critical to long-term growth and profitability, as institutions can capture, track, and analyze behavior among constituents.”

Eduventures reported that 89% of higher education administrators believe they need to use data to better manage their institutions and to efficiently build relationships with key constituents. Today, CRM is often first implemented as a niche product by the admissions department in higher education institutions.

www.eduventures.com

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