A successful recruitment season is different for every college and university. For some, it’s hitting a record-level of applicants, or hosting a certain number of campus visits. For others, it’s an incoming freshman class with a higher average standardized test score. While your level of success will be different, there are two major metric areas that you will likely look at: financial metrics and activity-based metrics. In this blog, we’ll briefly discuss these two metrics, and introduce our upcoming webinar.
Financial metrics are essential for the obvious reason that student tuition and other fees are necessary for a college or university to operate. There are many aspects to this financial metric, and it can be measured in tuition alone, student housing fees, or total student expenses. Measuring success based on the money per student helps to set a specific goal needed to break even, or a specific goal to strive for. But, measuring success by the number of students in a class alone may sacrifice the reputation of certain programs or the school as a whole.
Activity-based metrics measure the actions that prospective students take in their college and university search, beginning with their initial search actions and ending in their enrollment. This metric moves through their entire recruitment cycle, rather than simply looking at the money paid. Analyzing activity-based metrics can show the most effective recruitment methods, and helps to focus in on those practices.
Of course, with each incoming class there are other characteristics and qualities that help define a successful group of students. Academic achievements, extracurricular activities and geographic location are all factors that are important to consider and have goals pertaining thereto. Combining all three of these areas helps to create a comprehensive view of your college or university’s success. We know that the future of each college and university is in its incoming students. For any admissions department, attracting and recruiting this group can be a challenging task. As with any task, the path to success begins with well-defined metrics and strategic goals.
Here at StudentBridge, we believe that defining these success metrics and goals is essential. Join StudentBridge CEO, Chris Ruttle, on Wednesday August 26th as he discusses how to successfully measure the ROI. Click here to register today!