Continuing Education Retention Analytics Jacob Ensign JMH Consulting

Continuing Education Retention Analytics Jacob Ensign JMH Consulting, Inc. This presentation (and other con-ed resources) available online at www. jmhconsulting. com/resources

DOES YOUR TEAM TALK ABOUT RETENTION?

DOES YOUR TEAM MEASURE RETENTION?

WAIT, WHAT’S REPEAT RATE?

s n i g i Or The metrics Diffic ult meas ures Decision t r o p p u s system

A Time Before CERA

Back in the day

Measuring repeat (or retention)

Everyone wins with high retention

A business case for retention

n ss io Se n ss io Se 5 4 3 2 1 Hypothetical enrollments

n ss io Se n ss io Se 5 4 3 2 1 Slightly better repeat

n ss io Se n ss io Se 5 4 3 2 1 Slightly better revenue

A B C $100/session $110/session $100/session 50% repeat rate 55% repeat rate $200 lifetime value per customer $220. 00 lifetime value per customer $222. 22 lifetime value per customer

+10% cost No add’l repeat +10% on CLV Same cost +10% on repeat >11% on CLV

n n 1 2 ss io Se n 3 ss io Se n 4 ss io n 5 Se ss io Se Students talk

The challenges of retention in continuing education

How do you measure it?

One size does not fit all

Difficult to get numbers about today’s students Repeats New students Period 1 Period 2 Period 3 Period 4 Period 5

One bad apple … 10 students take a class They all take one more class Only one takes 10 more 20 total regs vs 20 total regs

Myriad causes of low What do we do about it? retention Not enough program diversity Program structure Very specialized audience No available follow-up courses Crazy life Low retention Poor learning plan management

Meanwhile, back at the JMH cave…

Introducing the CERAs

CERAs Land Exit Bounce

Land Exit Bounce

Bounce 0% BR Everyone came back 100% BR No one came back

Bounce X Y 1 Y 2

Bounce

Bouncers Inverses Repeaters • RR ≥ 100% – BR • Bouncers versus repeaters • BR is easier to compute • Immune to super customers

Land Exit Bounce

Land 0% LR All students are “old” 100% LR All students are “new”

Land X Y 1 Y 2

Land Exit Bounce

Exit 0% ER Education continues 100% ER Education ends

Exit X Y 1 Y 2

They work together Land Exit Bounce

CERA Archetypes Archetype Connection Entry Exit Two-way Solitary Bounce Exit rate Landing Enrollees in this class… rate took other classes and will take more started in this class; they will take more took other classes; will not take more either entered or exited, they took or will take others did not take other classes & will not take more

Decision Support System CE’s very first industryspecific DSS

And If CERA profitability Archetype is… Connection Loss class Then… Merge it with another class Exit class Loss Merge it with another class Entry class Loss Keep the class the same Solitary class Loss Reduce offerings—the market for this class is too small to fill your classes Connection class Break-even Update the class details Exit class Break-even Update the class details Entry class Break-even Keep the class the same Connection class Profitable Keep the class the same Solitary class Profitable Compliment the class with additional curriculum

Other applications? • • Instructors Programs Training for jobs Degree/Cohort certificate Open houses, info sessions Shrinking & growing Even more?

Thank you! This presentation (and other con-ed resources) available online at www. jmhconsulting. com/resources