Hi Justin,
I've said many times that our graduates are walking, breathing advertisements for our schools. Certainly, keeping our alumni well served, connected, and happy will produce referrals. The challenge is being able to track that activity. While it's easy to track an actual Referral Form, it's difficult to quantify casual conversation that a graduate may have with a cousin, a neighbor, a co-worker that may down the road result in a referral.
Good Luck!
June
What would be interesting to measure would be how many referrals we get from alumni. For every prospective student, we get information about how they have heard from our school for our marketing department. Hopefully, with better services for our alumni, we could see an increase in referrals from graduates.
Gerry,
This is true. But, all the more reason to give them a REASON for wanting (career services - job board) or even needing (transcripts) to contact you.
I've heard it said that our relationship with our alumni can be like a "courtship". First, we date them (maybe providing a fun event?), then we build our relationship (share information - provide opportunities), and the result is a marriage.
It can work!
June
For us, a good ROI would be graduates WANTING to contact the College after graduation. Unfortunately, when you are a "for profit," there doesn't seem to be as much of the loyalty from graduates that you would get from a more tradional school.
Hi Gerry,
Placement seems to be a motivating factor for most efforts toward alumni, especially in today's market. Just having a connection with them, should be helpful in gathering placement details. I'd advise you to think about specific opportunities you can set up where you can gather their employment information. For example, asking for it in a profile they must complete for an alumni website or making employment part of your transcript request form.
Quantifying your ROI (Return on Investment) is always a challenge. As you set up some of these ideas, prepare to keep records to show what important information you're getting.
June
The most important reason for us to have an Alumni Association is for placement. That will be the true measure of its success and will show return on investment. We have too many graduates that finish the program and then disappear, never to hear from them again. Getting graduate buy in would improve opportunities for jobs, guest speakers and placement details.
