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Q3 2018 HIGHER EDUCATION INQUIRY GENERATION REVIEW

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Q3 2018 Higher Education Inquiry Generation Review 2 About the Data in this Report The data used for this report is derived from aggregated higher education industry inquiries processed through and stored within Sparkroom performance marketing technology. Sparkroom is owned by Digital Media Solutions, LLC (DMS) and is used by the DMS Digital Agency and licensed by a long list of higher education marketers to centralize marketing and lead data. All conversion data is based on last-click attribution. The data has been normalized to account for changes that do not reflect inquiry generation trends, altering previously published statistics in some cases. For additional details, see the disclosure at the end of this report. Overview The Q3 2018 Higher Education Inquiry Generation Review, published by Digital Media Solutions (DMS), covers trends in the inquiry generation and student acquisition activities of higher education institutions for the period of January 2016-September 2018, with an emphasis on July-September 2018. Data was pulled on October 5, 2018. Although lead cohorts continue to mature indefinitely, we assume cohorts to be mature after a period of 90 days. Therefore, the Q2 2018 lead cohort was considered fully mature on September 30, 2018. Q2 2018 conversion rates are included within the appendix of this report. Q3 2018 conversion rates will be included within the appendix of next quarter's report. The following topics are featured in the Q3 2018 Higher Education Inquiry Generation Review: • Q3 2018 inquiry volume trends • Q3 2018 media channel share of volume (SOV) • Q3 2018 third-party media costs • Q3 2018 degree-level distribution trends • Q3 2018 program distribution trends • Appendix: Q2 2018 conversion rate (CVR) trends

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