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Measuring Return on Investment in International Student Recruitment:
A Working Model
Advanced Session at the NAFSA Annual Conference in Denver, 31 May 2016
Co-PresentersCheryl DarrupBoychuck, USjournal of Academics
[email protected] Kacenga, University of Colorado Denver
[email protected] Rigos, Merrimack College
Caution: Advanced ContentAdditional Resources (listed on handout)
Learning Objectives1. Define ROI metrics, as they pertain to your campus environment 2. Explore “quantifiably-elusive” factors, balancing ethical issues and practical realities 3. Play with the model, to evaluate your institutional ROI as it changes over time
Advanced Session: Be prepared to assign values to these INPUT variables
Advanced Session: Be prepared to assign values to these OUTPUT variables
Brief Overview
Managing Expectations
* ROI metrics are complicated
Managing Expectations
* ROI metrics are complicated* Risk: Oversimplifying complex scenarios
Managing Expectations
* ROI metrics are complicated* Risk: Oversimplifying complex scenarios* Each user = Master of the outcome
Managing Expectations
* ROI metrics are complicated* Risk: Oversimplifying complex scenarios* Each user = Master of the outcome* Be consistent over time
Two-Asset Portfolio
Portfolio Strategy
ROI – Definitions and Usefulness
Quantifiably Elusive Variables (QEVs)
Both Input and Output Variables
Currency fluctuationsVisa policy fluctuationsSufficient budget
Input Variables that can be quantifiedInput Variables
Top-level supportWell-defined strategyWord-of-mouth referralsAcademic relevanceFaculty involvementEfficiency of operations
Diversification of studentsAlumni engagementPrestige factorPartnerships
A few QEVs can be quantified…
Exchange Rates over time
QEVs within the modelQuantifiably-Elusive Variables Importance Type
1 to 13 China Gulf States Brazil1 Top-level support 13 input 5 7 32 Sufficient budget 11 input 5 3 -53 Well-defined strategy 10 input 5 5 34 Prestige factor 5 both 5 5 55 Word-of-mouth referrals 7 input 5 8 36 Currency fluctuations 2 input -1 0 -37 Visa policy fluctuations 1 input 5 3 58 Academic program relevance 8 input 7 7 79 Faculty involvement 3 input 3 3 3
10 Partnerships 9 both 8 5 011 Alumni relations 4 both 0 3 012 Efficiency of operations 12 input 7 7 713 Diversification of student body 6 both -1 3 814 Other n/a n/a
Performance: -10 to +10
Qualitative ROI* Useful for comparing markets
- Based on the performance of key variablesExchange RatesVisa FluctuationsStrength of Partnerships
* Most useful for developing market-specific strategies
Quantifiably-Elusive Variables Importance Type1 to 13 China Gulf States Brazil
1 Top-level support 13 input 5 7 32 Sufficient budget 11 input 5 3 -53 Well-defined strategy 10 input 5 5 34 Prestige factor 5 both 5 5 55 Word-of-mouth referrals 7 input 5 8 36 Currency fluctuations 2 input -1 0 -37 Visa policy fluctuations 1 input 5 3 58 Academic program relevance 8 input 7 7 79 Faculty involvement 3 input 3 3 3
10 Partnerships 9 both 8 5 011 Alumni relations 4 both 0 3 012 Efficiency of operations 12 input 7 7 713 Diversification of student body 6 both -1 3 814 Other n/a n/a
Performance: -10 to +10
Quantifiably-Elusive Variables Importance Type1 to 13 China Gulf States Brazil
1 Top-level support 13 input 5 7 32 Sufficient budget 11 input 5 3 -53 Well-defined strategy 10 input 5 5 34 Prestige factor 5 both 5 5 55 Word-of-mouth referrals 7 input 5 8 36 Currency fluctuations 2 input -1 0 -37 Visa policy fluctuations 1 input 5 3 58 Academic program relevance 8 input 7 7 79 Faculty involvement 3 input 3 3 3
10 Partnerships 9 both 8 5 011 Alumni relations 4 both 0 3 012 Efficiency of operations 12 input 7 7 713 Diversification of student body 6 both -1 3 814 Other n/a n/a
Performance: -10 to +10
Model Development* More data => Better model
- Multi-year data is critical for partnerships…* Differentiate time and money
- According to markets and typesPartnershipsSponsorsOther / Nothing
Questions and AnswersCheryl DarrupBoychuck, USjournal of Academics
[email protected] Kacenga, University of Colorado Denver
[email protected] Rigos, Merrimack College
