Percept Research has published new 2013-14 pricing plans for its MBA Lifecycle Survey Suite, a complementary set of evidence-based decision tools to help business schools improve student and alumni satisfaction. This is the first time the firm has significantly revised the fee structure in over a decade of offering these surveys.
Previously, the fees for the MBA Lifecycle surveys were based on the type of report ordered. This led to confusion on the value of the services provided and how to best implement MBA program improvement based on the survey results. Many business schools did not recognize that the fee covered more than the end-deliverable reports.
Each survey offering includes:
- an end-user license to use our professionally-crafted questionnaire;
- web-based survey programming and quality assurance testing;
- high-touch fielding and student support;
- advanced analyses; and
- report production with quality assurance.
The new pricing model has been structured into three offerings so clients can better understand what is included. These offerings are called Decision Packages to emphasize the level of decision-making available from the data analyses provided.
The new model is comprised of these three packages:
Monitor Decision Package – Assess the pulse of your students with a professional survey and Standard Support Includes informative descriptive statistics of your current cohort of students (no trending or benchmarking).
Roadmap Decision Package – Identify where to allocate resources for the greatest impact on improving the quality of your program and benchmark your performance against industry trends and peers.
Guidance Decision Package – In-depth analysis and synthesis of internal trends, key drivers, and benchmarks summarized into data-driven recommendations to guide program success.
Premium Support vs. Standard Support
The pricing model now provides two levels of support assistance called Standard and Premium:
Standard Support - Schools receive assistance via our Get Satisfaction social support community and self-service knowledge base. This user-powered community allows users to ask questions, share an idea, or report a problem. Users can also submit private requests via the platform.
Premium Support - Schools receive full-service dedicated phone and email support in addition to the Standard Support. Premium users will receive a special email address to send questions to our knowledgeable support team for a response within one business day if not sooner. Premium Support is included in the First Year Development Fee for new users.
We have spent the last two years seeding this social support platform with answers to frequently asked questions. This support platform is designed to better prioritize help resources and create a searchable resource so users can receive support responses quicker. Our core team monitors this platform for faster response.
Here is an email campaign we sent with more background about the platform: Percept Research announces social support community.
Faster Delivery of the Topline Summary (without trends)
We originally introduced the Topline Summary (descriptive statistics of your survey data) in 2004 so clients could quickly review the results of their survey without having to wait for the comparative report, which is delivered at the end of the fielding year.
This summary was not intended to be a stand-alone report. However, several business schools only wanted to receive the descriptive information in the Topline Summary so we continue to offer this report in the Monitor Decision Package.
One of the challenges we have faced over the years is including trending information in the Topline Summary and keeping our promise of quick delivery of the results. To keep this promise and provide more context, the Topline Summary will now only include the most recent survey results without trending so we can deliver the summary in a quick fashion. Trending data along with external benchmark data is available in the Program Roadmap & Market Trends Report (provided in the Roadmap and Guidance Decision Packages), which provides context to the trends for better decision-making.
How Does this Impact Me?
The actual cost outlay for participating in the MBA Lifecycle Survey Suite did not change (except for a small increase in the lowest-level package). The biggest changes are the positioning of value received and outlining the benefits included in each Decision Package.
We continue to offer significant discounts to the First Year Development fees for members of our association partners, the Executive MBA Council and the MBA Roundtable.
These pricing plans go into effect starting with the 2013-14 fielding year for all MBA Lifecycle surveys (Entry, Midterm, Exit, and Alumni).
Business schools face an increasingly competitive market and MBA directors are in a position of having to do more with less. The MBA Lifecycle Survey Suite provides turnkey solutions that free up resources for other mission critical activities while arming business school leaders with data to continuously improve and innovate their programs.
Brian Mahoney, author for this article, is a marketing research consultant and Managing Partner of Percept Research. Brian welcomes your questions and comments.