The purpose of this study is to examine how the dimensions of strategic enrolment management (SEM) tie to the success metrics in the area of enrolment, retention and graduation from senior and programme management perspectives of a self-financed institution in Hong Kong. The literature on SEM has demonstrated that managing enrolment is a global concern and requires institution-wide effort. For successful SEM, it has to be a performance-based, outcome-oriented system which requires significant data to determine its effectiveness, success or failure, growth or decline. Though the focus of most SEM research is about the implementation of SEM in achieving enrolment and retention goals, there are far fewer studies that look critically at the perceptions of success tying SEM to success metrics. This study fills the research gap regarding the perceptions of tying SEM to the success. Thus, success metrics are vital in assessing the achievement of enrolment, retention and graduation goals. This study employs a combination of survey results and a formal content analysis methodology from a series of in-depth face-to-face interviews with both senior and programme managers at a self-financed institution in Hong Kong. The research identifies the perceived importance of different components related to enrolment, retention and graduation successes and examines differences in these perceptions between senior management and programme management. New success metrics (availability of an Honours degree programme, the employability ratio and student learning outcomes) are found in both enrolment and graduation stages which are quantified as perceived SEM success in a self-financed institution in Hong Kong.