A holistic approach to return on investment
At InsideTrack, we believe that financial return is just one way to evaluate ROI. Return on investment can also be measured by increased enrollment, improved staff support, greater persistence and a better student experience.
The return is based on your institution’s particular priorities and goals — the value assessments that matter most to you. Investment, on the other hand, should be measured by time, opportunity cost and risk, as well as financial outlays.
We help our partners structure and evaluate the factors that each uniquely contribute to their ROI model. From better-prepared students and greater student support to improved institutional effectiveness and increased graduation rates, the benefits of ROI all have a positive impact on your bottom line.
What does ROI measurement look like for your institution?
InsideTrack can help you evaluate and achieve different types of return on your investment. Here’s how we break down ROI into five different benefits — benefits that can improve your bottom line and then some.
For many colleges and universities, a key way to measure financial stability — as well as school reputation — is through increasing the number of students who enroll, attend and complete each year. Boosting conversion and retention rates can increase or expand your student population — bringing more students into the fold and helping the students you already have persist and graduate.
By partnering with InsideTrack to outreach 2,500 students during a four-week timeframe, enrollment at Yavapai College increased more than 10%.
Actionable Trends & Insights
Are you targeting the right group of prospective students? Does your application process run as smoothly as you think it does? Are your systems designed to serve students proactively or reactively? Coaching does more than increase enrollment, retention and completion. It also provides invaluable student insights specific to your institution — insights you can put to use right away to improve the overall student experience.
Supported by InsideTrack research showing that adult professional students need summer terms, the Education Fund changed its tuition assistance periods to match.
Studies have shown that it’s more expensive to hire someone new than to invest resources in the people you already have. By providing consistent and effective staff development through training, change management and one-on-one support, you can nurture and retain your existing personnel — boosting morale, adding to their skill set and helping them work together across teams. As a result, this same ongoing training also allows these staff members to better serve students.
Thanks to InsideTrack training, managers at University of Phoenix reported feeling better equipped to manage change using skills they gained in coaching.
Many students enter college ill-equipped to succeed and achieve their goals. By focusing on the KSABs — knowledge, skills, attitudes and beliefs — schools can help students increase their GPA, their engagement, their financial literacy and their noncognitive development. As a result, students are more likely to register on time, select classes that move their major forward, have fewer financial aid issues and be better prepared for research participation, internships, and ultimately a successful career.
When coaches promoted the value of an academic preparedness assessment to incoming students at Ivy Tech Community College, completion rates rose dramatically.
Every student who enrolls and persists positively impacts the finances of your institution. Increased enrollment and better retention rates equal a better bottom line. Adding graduate-level or online programs can also help. Given the ever-changing amount of federal and state dollars provided to institutions and the yearly tuition rise for students, being able to lower the cost of converting students and generating additional revenue continue to matter more and more.
Medgar Evers College saw an 8% increase in admitted students who received InsideTrack coaching. This translated into $87,360 in increased revenue.