Happy New Year! The team at Rize is feeling refreshed and energized to build and grow in 2022. Before fully closing the book on 2021, we wanted to share some of the highlights from last year.
From 2021 to 2022 we saw significant growth in LCMC members, shared program adoption, and student enrollment in consortium courses. The LCMC grew from 87 to 121 members, the number of collaborative programs approved by LCMC members more than doubled from 91 to 230 during 2021, and the number of students taking an LCMC course grew 4.5x in 2021 to over 1,000.
Rize hired several marketing experts in 2021 who have created content and strategies that help LCMC members grow enrollment in their new collaborative programs.
As we mentioned in a prior update, Adrian College leveraged these strategies and 49 incoming freshmen listed a collaborative program in their Fall 2021 deposit form (which will generate ~$3.5mm over 4 years). These results make us incredibly optimistic that we can achieve our goal of driving $1mm in incremental enrollment revenue to every LCMC member.
In fact, many LCMC members are sharing increases in inquiries, applications, and deposits for Fall 2022. We are excited to share a more holistic update next month when we have collected data from more partners.
Rize also hired a full-time instructional design team in 2021 and their positive impact is showing up in student feedback.
This past semester, the average student rated courses to be as good as their on-campus courses and slightly better than their other online courses. When asked how likely on a scale of 1 - 10 they would be to recommend the course to other students, the most common answer was a 10. The median student responded 7 out of 10, highlighting general satisfaction with courses.
In just one year, our instructional design team worked with teaching institutions to create and deliver courses that improved so significantly, they are almost unrecognizable compared to courses from 2020.
So much more happened in 2021 that we couldn’t appropriately expand upon in this recap, including:
As always, each of these accomplishments and high watermarks now become targets to eclipse in 2022. With each passing year, we become more excited about the potential for this collaborative initiative to create meaningful change for both your institutions and your students.
Thank you for your continued support and cheers to a great 2022.