Working Breakfast at NAFSA 16
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Host Cheryl DarrupBoychuck continued the conversation about measuring Return on Investment in International Education, referencing roiie.com. She also explained how INTCAS' acquisition of FundsV impacts current and future clients of USjournal: Namely, colleagues can expect to maximize efficiencies in operations during the international admissions process.
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Working Breakfast at NAFSA 16
- 1. Good morning! Thanks for joining us. 7:00a to 7:30a Enjoy breakfast and conversation 7:30a to 8:30a ROI / USjournal / FundsV Update Hosted by Cheryl DarrupBoychuck Director of Institutional Relations, INTCAS US and Karen Meyer, Executive Vice President of USjournal.com 1
- 2. Overview • Evolution of USjournal and FundsV * Common denominator: Maximizing ROI • USjournal: Multi-lingual Student Recruitment • FundsV: Improving operational efficiency and integrity • What does FundsV acquisition mean for USjournal? 2 2
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- 9. USjournal: Qualified Inquiries Hi. I would like to know about the prices, I am a current student in Kaplan International Centers in Philadelphia. Thanks! Daniela - Inquiry about Drexel University’s English Language Center 9 9
- 10. USjournal: Qualified Inquiries Hi, I want to know information for my brother for business management course. He is pursuing his course in Bay State College Boston USA from May 2015. Due to domestic reasons he wants to migrate in Buffalo. - Inquiry about D’Youville College in Buffalo 10 10
- 11. USjournal: Qualified Inquiries - Inquiry about Valencia College in Orlando, Florida 11
- 13. Case Study of Troy University Year USj Spend 2010 $17,794 2011 $17,794 2012 $ 0 2013 $ 8,719 2014 $ 9,706 2015 $ 9,706 2016 $ 9,706
- 14. Case Study of Troy University Year USj Spend 2015 $ 9,706 7-language campaign *English *French *Spanish *Portuguese *Indonesian *Thai *Arabic
- 15. Case Study of Troy University, Year 1 • ≈350 qualified inquiries via USjournal • At least 35 applications • 7 students were admitted • 5 students enrolled 2 ESL students @ $15,500 / year 1 Undergrad student @ $24,000 / year 2 Grad students @ $24,000 / year = $103,000 tuition revenue in Year 1
- 16. Case Study of Troy University, over 4 years Year 1 Year 2 Year 3 Year 4 ESLa $15,500 $15,500 $24,000 ESLb $15,500 $24,000 $24,000 $24,000 UGa $24,000 $24,000 $24,000 $24,000 GRa $24,000 $24,000 $24,000 GRb $24,000 $24,000 ----------- ----------- ----------- --------- -- Totals $103,000 $111,500 $96,000 $48,000
- 18. We’re always looking to improve…
- 20. FundsV is affiliated with nearly 4,000 banks around the world FundsV.com/page/banks 20
- 21. 21 21
- 30. Safe, compliant and efficient recruitment of international students 88 Countries 1 Platform Connecting the world through education Build | Attract | Connect | Recruit | Manage INTCAS Powered by edForce | 1.0
- 31. Macro Variables 64DecisionVariables 45% 5% 50% Academic Immigration Financial Culture & Religion Employability Brand Equity 6 4 10 10 2 14 20 8 Socio Economic1 Geographical2 Brand Positioning3 Heritage DigitalPresence MatureEmbryonic FrontierPotent A E B C D Strategic Pricing4 Price AcademicExperience HighLow LowHigh A E B C D Operational Efficiency5 Multi-Channel TouchPoints Multi-LevelAntiquated InconsistentRegular A E B C D EmploymentHigherSecondaryPrimary Academic Lifecycle6 1. Globalisation 2. Post Secondary Options 3. Labour Market Trends 4. Geo-political events
- 32. Manage Exploration 1 Manage Application 2 Manage Admission 3 Manage Conditional Offer 4 Conduct Admission Interview(s) 5 Manage Unconditional Offer 6 Organise Payment 7 Manage Immigration Advisory 8 ManageVisa 9 Organise Pre- Departure Planning 10 Manage Enrolment& Commission 11 Manage Delivery& Attendance 12 Manage Graduation 13 Enlarge Alumni Relations 14 Dissecting down the Student Lifecycle 1. 82% would join student communities to seek independent reviews and opinions. 2. 67% of students valued videos which promoted the education institutions. 3. 48% of students preferred the institution video to be no more than 5 minutes. 4. 90% of parents preferred independent reviews of the institution. 5. 65% of parents would join regular webinars to learn more about the institution. 6. 51% of parents targeted the institution Head as the key figure (Ambassador) to promote the institution. 7. 39% of parents from countries across Africa, South Asia, Central Asia and Far East would react negatively to young representatives promoting the institution. Voice of the Family Sample Size: 4366 Countries: 27 Period: 2010 to 2014 Marketing & Information Gathering
- 33. Manage Exploration 1 Manage Application 2 Manage Admission 3 Manage Conditional Offer 4 Conduct Admission Interview(s) 5 Manage Unconditional Offer 6 Organise Payment 7 Manage Immigration Advisory 8 ManageVisa 9 Organise Pre- Departure Planning 10 Manage Enrolment& Commission 11 Manage Delivery& Attendance 12 Manage Graduation 13 Enlarge Alumni Relations 14 Dissecting down the Student Lifecycle 1. 63% of Parents found enquiry management cumbersome and difficult to track the multiple replies into their personal inbox. 2. 58% of parents expected a reply back within 24 hours of submitting an enquiry. 3. 69% of parents demanded a reply back from institutions between 24-48 hours. 4. 32% of students stated that they would consider another choosing institutions if replies were not received with 5 days. 5. 16% of parents outlined that FAQ’s were effective. 6. 40% of students preferred voice contact to resolve enquiries or seek answers. 7. 29% of parents were only prepared to wait up to 10 minutes if they were to call to make an enquiry. Voice of the Family Enquiry Management Sample Size: 4366 Countries: 27 Period: 2010 to 2014
- 34. Manage Exploration 1 Manage Application 2 Manage Admission 3 Manage Conditional Offer 4 Conduct Admission Interview(s) 5 Manage Unconditional Offer 6 Organise Payment 7 Manage Immigration Advisory 8 ManageVisa 9 Organise Pre- Departure Planning 10 Manage Enrolment& Commission 11 Manage Delivery& Attendance 12 Manage Graduation 13 Enlarge Alumni Relations 14 Dissecting down the Student Lifecycle 1. 76% of students were frustrated in the application process citing repeated questions from institution to institution. 2. 95% of parents stated they would be delighted if a single application form could be submitted to a choice of institutions. 3. 88% of students stated that they preferred all applications to be tracked within a single system. 4. 48% of parents requested multi-channel updates. Voice of the Family Application & Admission Sample Size: 4366 Countries: 27 Period: 2010 to 2014
- 35. Manage Exploration 1 Manage Application 2 Manage Admission 3 Manage Conditional Offer 4 Conduct Admission Interview(s) 5 Manage Unconditional Offer 6 Organise Payment 7 Manage Immigration Advisory 8 ManageVisa 9 Organise Pre- Departure Planning 10 Manage Enrolment& Commission 11 Manage Delivery& Attendance 12 Manage Graduation 13 Enlarge Alumni Relations 14 Dissecting down the Student Lifecycle 1. 31% of parents believed the institution should navigate the family through the visa process. 2. 45% of parents believed the agent was a proficient immigration advisor. 3. 30% of parents believed agent association bodies correlated to professional immigration advisory. 4. 56% of parents believed that agents provided little guidance when visa matters became complex. 5. 71% of agents simply guided parents how to by-pass the visa hurdles. Voice of the Parent Manage Immigration Advisory Sample Size: 4366 Countries: 27 Period: 2010 to 2014
- 36. Opportunities to Connect • Follow us for the latest developments LinkedIn.com/company/usjournal.com-llc @FundsV • Webinar schedule online at intcas.com • Customized demos at your convenience 36
Editor's Notes
- Welcome to our annual breakfast! I am Cheryl DarrupBoychuck, head of both USjournal and FundsV. I very much appreciate your time, during this week of hectivity! I also wanted to introduce our lead programmer, Neeraj Varshney, who would be happy to answer any questions related to the technical side of FundsV. We have a wide range of experience in the room, from long-time USjournal advertisers, to those who might just be curious about our Funds Verification Initiative.
- A few years ago, I volunteered as Network Leader for what’s now NAFSA’s International Enrollment Management Knowledge Community. I was pretty much obsessed with measuring the value of international students by calculating numbers with dollar signs in front of them. The industry was desperate to fill its “toolbox” of examples of different types of recruitment initiatives, along with the resulting revenue generated by those particular efforts. And in all honesty, figuring this out was in my own self-interest. I needed to prove that my organization, USjournal.com, could recruit students via online promotions, more cost-effectively than any other medium. http://www.nafsa.org/interactive/core/orders/product.aspx?catid=5&prodid=187
- Defining the ROI metrics is perhaps the most important part of the exercise. Are we building a class and campus community, or are we designing for a set number of students in seats? For many, the goal is most likely to be somewhere in between. Both goals have merit and are realities in tuition-driven, tight budget environments. ROI is rarely delivered in terms of absolute values because it is a function of campus history, resources, and perspective. On your campus it might be worth spending thousands of dollars for a few international students in the interest of diversity, and the ROI is perceived as excellent. On other campuses that may be an inexcusable affront given other fiscal realities. ROI assessments, ultimately, are meant to address the lingering ambiguity about how to achieve the desired outcome, through the most fiscally astute means possible.” Session on Friday at 9:30a, sponsored by NAFSA
- Ken
- Ken
- Ken
- Ken
- We have always, always, always focused on the QUALITY of our inquiries, and not the QUANTITY. We will never generate a million leads for our advertisers. But the ones we DO generate are qualified.
- Here’s another example.
- Our renewal rate is pretty high, so when an advertiser doesn’t renew, we try to dig deeper to find out what we could have done better.
- Ken
- The student is presented with three options to satisfy the requirement. The first two options involve the electronic transfer of banking data, if the student’s or sponsor’s bank is part of our network. (You can always access our most current list of banks via our “Bank Affiliation” link, accessible on every page within FundsV, from the lower left corner: https://FundsV.com/page/banks/ )
- Here is a sample of a few of the 4,000 banks within our network – from which we can ping accounts, with appropriate authorization from the account holder. You’ll see we represent some of the most popular banks in the world, including more than 60 from India alone, for example.
- In any event, there’s a lot happening. To keep up, we invite you to join our LinkedIn Group. Or follow us on Twitter. If you’d like to schedule a customized online demo, we can certainly sync our calendars for that. We do have a few scheduled events coming up; our next online demo will be a special “pre-NAFSA” edition, on Wed, April 22nd at 2pm Eastern. You are welcome to join us for breakfast during the Annual NAFSA Conference, of course this year in Boston at the end of May. We’ll also head to the DC area later in November for NAFSA’s Region 8 Conference in Alexandria, VA. For our very latest itinerary, please go to our “about” page at FundsV.com