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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.

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Measuring Return on Investment in International Student Recruitment

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  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

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