News Release
Press Release January 26, 2006
50,008 Learners Stay In Online Courses And Increase ROI for Institutions Using Embanet Corporation’s Hosting and 24/7 Support Services
Toronto, January 26, 2006 – In 2005 a total of 50,008 online learners remained in their online courses as a result of the Embanet Online Group's hosting of online courses in its Tier 1 Data Center and its industry leading 24/7/365 live technical support.
As institutions continue to incur unprecedented increases in marketing, the ability to retain students in online programs continues to be a key factor for the ultimate success or failure of an online program. According to the ASTD (American Society for Training & Development), attrition rates for online programs are between 33% and 50%. Embanet Corporation's continual focus on increasing retention rates has differentiated its turnkey solution and provided the results that institutions require to ensure success in online programs.
“Our commitment to changing the social fabric of society by providing online learners with the tools and support to be a success comes through with our 50,008 saves this past year,” says Jeffrey E. Feldberg, Chairman of Embanet Corporation. “In an increasingly competitive environment in which both the choice of online programs and the costs of marketing significantly increase, the opportunity for an institution to make a direct impact both on students and the institution’s bottom line is realized through our hosting and support solution. The scope and reach of these 50,008 learners extends into their local communities and the country as they bring the new skills and practices they acquired through their education to the workforce.”
It is not uncommon for institutions to have a cost per student start ranging from $1,000 to $5,000 in marketing costs. In addition, the lost revenues from online student course drops in a program are substantial. As a result, an increase in retention rates of 5% has a large and meaningful impact on the online program’s success and profitability.
"The Embanet Formula continues to prove itself on a daily basis with our ability to keep more students in their seats than the institutions can themselves or through alternative solutions," says Waleuska L. Lazo, CEO of Embanet Corporation. "With more than a decade of experience we continue to perfect and enhance our solution to offer the industry’s best 24/7 support for both faculty and students. Add to this the convenience of our turnkey solution in which we provide the hosting of online courses in our Tier 1 Data Center, our support of eight leading learning platforms, course development and the retention desk which provides the flexibility and bottom line results that institutions require in today’s competitive market place. Our team of Retention Analysts™ has, once again, set the standard in the industry, and as a result we have 50,008 learners who have benefited and our Clients’ quality, reputation and return on investment have increased."
About Embanet Corporation
Embanet is the leading provider of fully hosted and supported e-Learning solutions to educational institutions. Embanet's Tier 1 Data Center, 24/7/365 LIVE technical support and course development help achieve high online retention and completion rates. Embanet offers the industry's only "e-Learning Insurance™" to safeguard your investment from changing technologies through the total integration of seven leading and non-proprietary learning platforms. For more information, please visit www.embanet.com/newsalert.