Transcript This Is Where The Title Goes, This Space Will Support 4

Measuring
Return on Investment
in International
Student Recruitment
Rahul Choudaha, World Education Services
Cheryl Darrup-Boychuck, USjournal.com, LLC
Randall W. Martin, British Columbia Council for International Education
Presenters
Cheryl Darrup-Boychuck,
USjournal.com, LLC
Rahul Choudaha,
World Education Services
Randall W. Martin,
British Columbia Council
for International Education
Learning Objectives
• Measure the results of a promotional
campaign designed to recruit
international students
• Learn how other campuses measure
their results
• Identify trends in measuring ROI in
international student recruitment
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International
Recruitment Channel
Investment (Annual)
Fair
Online
Promotion
Agents
Other
$0
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Travel (Flight, accommodation, food)
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Registration Fee
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Commissions or Marketing Fee
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Advertising
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Revenue (Annual)
$0
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Revenue (Net annual
tuition/Student)
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Number of students recruited
0
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ROI (%)
Return on Investment (ROI) = (Revenue-Investment)
Investment
http://www.USjournal.com/en/educators/erecruit/10/ROI.xls
Brief History of
International Student Recruitment
• Then: No need for metrics
• Now: “Show me the numbers”
• Soon: Culture of Evidence will prevail
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International Enrollment Management
• Nurture connections on campus
• Target particular countries and language
markets
• Manage limited resources
• Take a deliberate and intentional approach
• ROI metrics potentiate IEM
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Challenges in Measuring ROI
•
•
•
•
•
Some intangible aspects are not measurable
Difficulty in defining the scope
Complicated process
Raises expectations
Overlap of activities to isolate the effect
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© 2009 World Education Services, Inc. All rights reserved.
But somebody measured…
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© 2009 World Education Services, Inc. All rights reserved.
Measuring ROI is not perfect science
“A set of observations that reduce uncertainty
where the result is expressed as a quantity.”
Douglas W. Hubbard (2007) How to Measure Anything
√ Happiness
X Height
Measuring Brand Value
Brand Rank
Brand value
($millions)
Revenue Rank
Revenue
($millions)
1
68,734
259
31,944
92
458,361
1
3,228
All figures are for 2009
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© 2009 World Education Services, Inc. All rights reserved.
Source: www.InterBrand.com
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© 2009 World Education Services, Inc. All rights reserved.
Social Media Communication Model
• Exposure:
– To what degree has the campaign created exposure to
your content and message?
• Engagement:
– Who is interacting or engaging with your content? How
and where?
• Influence:
– To what extent have exposure and engagement
influenced the attitudes of the target audience?
• Action:
– As a result of the social media effort, what actions—if
any—has the target audience taken?
Don Bartholomew (2009) Social Media ROI: Separating myth from methodology
http://www.iabc.com/cwb/archive/2009/1009/Bartholomew.htm
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© 2009 World Education Services, Inc. All rights reserved.
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© 2009 World Education Services, Inc. All rights reserved.
Summary
“It is better to be vaguely right than precisely wrong.”
Sunil Gupta & Donlad R. Lehmann in Managing Customers as Investments (2005)
Define
scope and parameters
Measure
consistently and diligently
Improve
performance and ROI
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© 2009 World Education Services, Inc. All rights reserved.
How Institutional ROI Expectations Compare
with those of Larger Jurisdictions
Abstracts and Intangibles
Different Vantage Points
* from the street level
* from the bird’s eye
Streamlining efforts:
Collaboration vs. Individual Efforts
In praise of intangibles
Assessing benefits
Abstracts and Intangibles
ROI assessments are made by everyone: students, offices,
institutions, the state, society at large
The forest and the trees - the closer you are to the action, the
more attention you pay to the details
Immediacy of institutional analysis and expectations
Less immediacy and longer term from the state
Different Vantages:
Street-level ROI
Investment in education is experienced differently by
students, educators and institutions, governments and
society at large
There are important reasons that front line offices and
institutions need to care about ROI
They have concrete and immediate rationale, concerns and
risks
Another Vantage:
A Bird’s Eye View
 The state also cares about ROI
 More abstract and longer term rationale
 Concerns and risks both immediate and longer term
Streamlining Efforts
 Governments tend to want to ‘collectivize’ efforts
 Institutions tend to want to ‘individualize’ efforts
 Why listen to the state?
In praise of intangibles
Intangibles are fundamental …
 More and better access at home and abroad
 Larger supply of pooled resources
 Complements market intelligence
 Consolidates the sector
 More global impact
Assessing Benefits
 The state will push its agenda.
 The institution will push its agenda.
And so …
 How to assess the benefits of the investment?
 What factors to use?
 How to assess the benefits of collaboration?
And so …
Questions and Answers /
Share your Case Studies /
Continue the Conversation
• http://www.nafsa.org/MRforums
• Rahul Choudaha, [email protected]
• Cheryl Darrup-Boychuck,
[email protected]
•
Randall W. Martin,
[email protected]