Do you get a lot of credit card offers in your mailbox? We certainly do. Those banks are paying a tremendous amount for all that direct mail. And they have analyzed the ratios and response rates to know beyond any doubt that RETAINING a current customer is FAR less expensive than RECRUITING a new one. Yet they still know that spending marketing dollars to get a new one is worth it, if done right.
This week is about recruiting and retention.
Last week we borrowed from grocery store market research to learn about marketing your student outcomes. This week we will borrow from industry again to consider how international student experience relates to student retention. In other words, how to keep your customers happy. (Hint: listen to them).
We know that student retention is important. Your goal is to get them in the door AND see to it that they earn their degree. That produces satisfaction for everyone involved, on many levels. Here’s the thing: NAFSA’s research says your perspective on what keeps a student is likely different than the student’s perspective on the same thing.
Bottom Line: Current research from NAFSA suggests that international students want more internship and job opportunities and they will move around to find them. Setting clear expectations about what you have to offer before students arrive and listening to what they are really seeking from you will go a long way toward creating the student experience that results in retention and degrees earned.
We are full of questions today, and Emily is ready to step out of the box and tell us more about how student experience drives retention. And how you can drive student experience.
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