Establishing, maintaining, and growing buyer loyalty is a cornerstone of business. It is important for organizations to understand what attracts buyers in the first place, but equally; if not more important, is discerning what will keep them coming back – and motivate them to refer others to purchase.
Drivers of loyalty are just as important to higher education as the corporate sector. Sustainability of academic programs relies in large part on fostering a loyal group of students and alumni who are willing and anxious to promote their experiences and influence others to attend.
Percept Research’s MBA Student Entry Study confirms that incoming students are more likely to choose a graduate management program based on recommendations from friends and colleagues that previously attended than from any other influential source, so maintaining high levels of satisfaction is important.
Approximately 47% of incoming MBA students indicated alumni and current students as the most influential sources in deciding to where to apply in the 2018 MBA Student Entry Study. Personal contacts were the next most influential information source (32% of respondents) selected by the survey respondents.
What is the Loyalty Index?
Our MBA Lifecycle Surveys and Executive Impact Assessments empower business schools with a Student Loyalty Index to track student and participant (non-degree) loyalty over time – a measure of how likely students will promote the business school brand and how much they tend to abandon it.
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