Customer Relationship Management is important in the field of education and every educational institution should buy one because Higher education institutions (HEIs) are experiencing vital changes in the way they operate and interact with their ‘customers’, i.e., students, their parents, alumni, employers, and staff members.
Higher education clients are demanding more attention and instant service and so proactive universities are turning to technology – customer relationship management systems – to cater to this demand in an effective way.
Higher education CRM systems normally serve three key audiences: prospective students, current students, and alumni/donors.
But first, what are CRM systems?
A CRM (customer relationship management) system is software that manages communication and data sharing between team members. This is particularly important for companies that store a lot of data (like a university with thousands of students), as it streamlines workflow and makes data more accessible to the people who need it.
In a higher education setting, CRM can easily organize students’ information and make it easy to look up through the software. This makes it easier to answer students’ questions and manage other aspects of the student-university relationship (for example, sending out alumni newsletters after graduation). In this way, quality CRM software can become indispensable to a college or university.
Higher Ed Admissions Software
The average student applies to four or five colleges each year, which results in millions of applications across all schools and universities. Reviewing each of these applications can be a massive undertaking, and it becomes even greater when there isn’t an effective system in place. CRM software for colleges and universities makes it easier to manage their application process, helping them land quality applicants with an easier, streamlined system.
CRM systems easily organize student data from the moment their first application arrives until the day they enroll and beyond. Keeping this data in one easy-to-find place makes reviewing applications and managing the student lifecycle much simpler, saving time and effort on the part of the admissions team.
Additionally, CRMs can help higher education administrators market to prospective students by tracking social media and website use among quality candidates. In this way, universities can make their marketing methods more effective while targeting students with whom they want to build a relationship.
How CRM Helps the Financial Department
CRM may stand for customer relationship management, but it also yields significant benefits for the user — in this case, the university.
Higher learning institutions require funding to stay afloat. This can include grants and state funding, but it also largely hinges on tuition payments and alumni donations.
Dealing with this much money can be incredibly difficult, but an effective CRM system will help your financial department manage its billing quickly and easily.
Most CRM systems can track payments and fee collections.
Through this system, you’ll be able to see which students owe the institution and whose payments have been paid in full.
All information will be secure and carefully stored to protect your students’ identities while still allowing you to be able to look up data and collect payments effectively.
How CRM Improves the Student Experience
Finally, it’s no secret that the most important part of any CRM system is the way it benefits the student experience. Students are the lifeblood of any higher education institution, and therefore administration must-have tools to help these young people at their disposal.
One of the most important elements of any CRM system is the way that it manages the student life cycle. Everything about a student’s experience with the university, from the date of their application to their academic record, should be stored in one easy-to-locate system.
Ultimately, a quality CRM system provides better customer service to the people who need it most: the students looking to improve their lives through higher education. If an institution wants to give its students the best possible education they can receive, it needs to have an effective CRM system on its side.
