1 / 86

Measuring Return on Investment in International Student Recruitment

Measuring Return on Investment in International Student Recruitment. Innovative Educators Webinar, 6 May 2009. Cheryl Darrup-Boychuck Owner and Chief International Education Officer USjournal.com, LLC cheryl@USjournal.com. Brief History of International Student Recruitment.

keaton
Download Presentation

Measuring Return on Investment in International Student Recruitment

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Measuring Return on Investment in International Student Recruitment Innovative Educators Webinar, 6 May 2009 Cheryl Darrup-Boychuck Owner and Chief International Education Officer USjournal.com, LLC cheryl@USjournal.com

  2. Brief History of International Student Recruitment Then: No need for metrics How can you possibly measure the value of international students on campus, with dollar signs? Now: Show me the numbers Deans of Admission have morphed into Vice Presidents of Enrollment Management Soon: More “stealth applicants” Increasingly, your first contact with a prospective student is their online application. Measuring ROI in International Recruitment | cheryl@USjournal.com

  3. “International Enrollment Management” Nurture Connections with • Domestic Admissions • Particular Academic Departments • Alumni and Development Office • Current International Students • Senior International Officers Identify Recruitment Strategy • Target particular countries and language markets • Incentives for countries not currently represented Measuring ROI in International Recruitment | cheryl@USjournal.com

  4. “International Enrollment Management” Resource Management • Manage limited resources • Define metrics and collect data • Analyze the costs and benefits of specific initiatives • Measure Return on Investment Deliberate and Intentional Approach • Integrated effort to maximize impact Measuring ROI in International Recruitment | cheryl@USjournal.com

  5. 1st Poll: Gauging Current Climate At what stage do you consider your campus, with regard to ROI? • Advanced (We’ve defined our metrics; we just want to see what peer institutions are doing.) • Medium (We measure a few initiatives, but have no coordinated plan to evaluate the results.) • Elementary (We’re struggling with where to begin measuring Return on Investment.) Measuring ROI in International Recruitment | cheryl@USjournal.com

  6. External Factors Shaping International Education Growth Industry • By 2025, demand will double to 200 million seats in global higher education • Growth in emerging economies • Proliferation of alternative structures • Higher Education = Globally-traded Commodity • Price competition will intensify Measuring ROI in International Recruitment | cheryl@USjournal.com

  7. Initial Investment vs Subsequent Profits Recruiting Expenses vs Profits, where Profits = Tuition – Cost of Instruction + Expected Donations Flaw: Tuition < Cost of Instruction, so Profits are usually negative Studying ROI:Corporate World vs Higher Education Measuring ROI in International Recruitment | cheryl@USjournal.com

  8. Business World Feedback from market forces Non-Profit Organizations Driven by missions, not markets “Delivering on the Promise of Non-Profits” Harvard Business Review, December 2008 Studying ROI:Corporate World vs Higher Education Measuring ROI in International Recruitment | cheryl@USjournal.com

  9. Reasons for Reluctance • Inertia; it’s never been done • Fear of revealing weaknesses • Intense focus on immediate results, without regard to the future • “International” marketing is de-centralized on many campuses • Differences with domestic recruitment Measuring ROI in International Recruitment | cheryl@USjournal.com

  10. Justify expenses Compete with domestic admissions Compare results with peer institutions Why Measure ROI? Measuring ROI in International Recruitment | cheryl@USjournal.com

  11. ROI in its Simplest Form -- Cost of Recruitment + Tuition and Fees Generated ----------------------------------------- Return on Investment

  12. Model -- Cost of Advertising + Student(s) Tuition + Student(s) Fees ------------------------------ Return on Investment Online Promotions: Targeting Specific Populations ESL Program -- $ 1,195 / year + $ 2,850 / 10-wk session + $ 465 Student Fees ---------------------------------- $ 2,120 = 1st student $ 15,380 = 5 students $ 31,955 = 10 students Measuring ROI in International Recruitment | cheryl@USjournal.com

  13. MCPS = Emt / St Emt = Total marketing expense in time period “t” St = Total students enrolled in time period “t” Marketing Cost per Student Measuring ROI in International Recruitment | cheryl@USjournal.com

  14. MCPS = Emt / St Emt = $1,195 for an annual campaign St = 10 students enrolled MCPS = $119.50 per student Marketing Cost per Student:Online Promotion Measuring ROI in International Recruitment | cheryl@USjournal.com

  15. Initiative MCPS Online Promotion $119.50 Marketing Cost per Student Measuring ROI in International Recruitment | cheryl@USjournal.com

  16. -- Cost of Developing a Relationship -- Commissions Paid + Student(s) Tuition + Student(s) Fees -------------------------------------------------------- Return on Investment Skipping the relationship part may result in very negative consequences. Engaging Agents: Initial costs must be greater than zero Measuring ROI in International Recruitment | cheryl@USjournal.com

  17. MCPS = Emt / St Emt = $13,800 over four years St = 4 students enrolled MCPS = $3,450 per student / 4 years Marketing Cost per Student:Engaging Agents Measuring ROI in International Recruitment | cheryl@USjournal.com

  18. Initiative MCPS Online Promotion $ 119.50 Agent $ 862.50 Marketing Cost per Student Measuring ROI in International Recruitment | cheryl@USjournal.com

  19. MCPS = Emt / St Emt = $1,200 in one year St = 20 students enrolled MCPS = $60 per student Marketing Cost per Student:Domestic Travel Measuring ROI in International Recruitment | cheryl@USjournal.com

  20. Initiative MCPS Online Promotion $ 119.50 Agent $ 862.50 Domestic Travel $ 60.00 Marketing Cost per Student Measuring ROI in International Recruitment | cheryl@USjournal.com

  21. Marketing Cost per Student Measuring ROI in International Recruitment | cheryl@USjournal.com

  22. Marketing Cost per Studentand Revenue per Student Measuring ROI in International Recruitment | cheryl@USjournal.com

  23. Cost to Recruit one International Student vs one Domestic Student MCPSi = Emt / St MCPSd = Emt / St Emt = Total marketing expense in time period “t” St = Total students enrolled in time period “t” Measuring ROI in International Recruitment | cheryl@USjournal.com

  24. Cost to Recruit one International Student vs one Domestic Student 10%

  25. Measuring ROI by Student Type Measuring ROI in International Recruitment | cheryl@USjournal.com

  26. Average cost per enrolled student, based on domestic recruitment $2,895 = Private institutions $2,366 = Overall average $1,002 = Public institutions 2008 NACAC Admission Trends Survey

  27. Cost Applicant $ 578. Admitted $ 836. Enrolled $2,366. Domestic Admissions Yield Measuring ROI in International Recruitment | cheryl@USjournal.com

  28. “Stealth” Applicants • Students applying without prior contact • Introduced into database as “applicant” • Traditional enrollment funnel dissolving • Accept lack of complete control of your institutional message

  29. Measuring ROI in International Recruitment | cheryl@USjournal.com

  30. Measuring ROI in International Recruitment | cheryl@USjournal.com

  31. Online Inquiriesand the Impact on ROI Measuring ROI in International Recruitment | cheryl@USjournal.com

  32. Targeted Online Campaigns By Geography Within a 20-mile radius of any metro area By Key Words and Key Phrases In targeted languages By Device Manufacturers and Capabilities Only target iPhones, for example Measuring ROI in International Recruitment | cheryl@USjournal.com

  33. Measuring ROI in International Recruitment | cheryl@USjournal.com

  34. Measuring ROI in International Recruitment | cheryl@USjournal.com

  35. Sample of Key Phrases for Google Pay-per-Click Measuring ROI in International Recruitment | cheryl@USjournal.com

  36. Results in Italian for Google Pay-per-Click

  37. Sample of Statistics:Google Pay-per-Click Measuring ROI in International Recruitment | cheryl@USjournal.com

  38. CPL = TAC / TLG $3.25 = $101 / 31 leads CPL = Cost per Lead TAC = Total Advertising Cost TLG = Total Leads Generated Cost per Lead Measuring ROI in International Recruitment | cheryl@USjournal.com

  39. 2nd Poll: Precision Marketing Techniques What types of campaigns are you using to generate initial inquiries? • Pay-per-Click Campaigns (primarily hosted by major search engines) • Mobile Marketing (via handheld devices) • Directory-type Ads (StudyUSA, Hobsons, USjournal.com, others) • We don’t pay for leads (Students just find us organically online, or by word-of-mouth.) Measuring ROI in International Recruitment | cheryl@USjournal.com

  40. Precision Marketing Factors • Internal Analysis • Domestic Admissions’ ROI Equations • Academic Strengths • Availability of Scholarships for Diversity • Economic Realities • Online Language Populations Next Step: • Study the habits of target demographic Measuring ROI in International Recruitment | cheryl@USjournal.com

  41. Know Thyself S.W.O.T. Analysis • Strengths • Weaknesses • Opportunities • Threats Clearly Define Objectives • By citizenship or by geography • By language market • By academic program Measuring ROI in International Recruitment | cheryl@USjournal.com

  42. Economic Realities Government-Sponsored Scholarships • Iraq (500 students this year, eventually 10,000) • http://www.nytimes.com/2009/03/22/world/middleeast/22kurds.html • United Arab Emirates • Abu Dhabi Investment Authority • rbm.sc@adia.ae • Malaysia • Public Service Department • http://www.jpa.gov.my/ Measuring ROI in International Recruitment | cheryl@USjournal.com

  43. Precision Marketing | Chair: cheryl@USjournal.com

More Related