Why ApplyBoard's Business Model is so successful?
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ApplyBoard’s Company Overview
ApplyBoard is a leading online platform that assists international students with their application process to study overseas, primarily in North America. Founded in 2015 by brothers Martin, Meti, and Massi Basiri, ApplyBoard simplifies the study abroad search, application, and acceptance process by connecting international students, academic institutions, and recruitment partners on a single platform. Headquartered in Kitchener, Ontario, Canada, ApplyBoard has helped more than 120,000 students with their educational journey and has partnered with over 1,200 academic institutions across North America and the United Kingdom.
Business Model:
ApplyBoard's business model is centered around facilitating the application process for international students. The platform offers a comprehensive search engine that allows students to find programs and institutions that match their academic goals and qualifications. Once the student selects a program, ApplyBoard guides them through the application process, assisting with document submission, application fees, and visa procedures. The company's services are free for students, with revenue primarily generated from educational institutions and recruitment partners who pay a fee to be listed on the platform and gain access to a global pool of potential students.
Revenue Model:
ApplyBoard generates revenue primarily through its partnerships with educational institutions and recruitment partners. The institutions pay a fee to ApplyBoard for each student who enrolls through the platform. This fee is typically a percentage of the student's first year's tuition fee. Additionally, ApplyBoard offers premium services to the institutions, such as enhanced visibility and promotional opportunities on the platform, which serve as another revenue stream. The company's revenue model is thus based on the success of its students' applications, aligning its interests with those of the students and the institutions it serves.
Headquater: Kitchener, Ontario, Canada
Foundations date: 2015
Company Type: Private
Sector: Technology
Category: Education
Digital Maturity: Digirati
ApplyBoard’s Related Competitors
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Quizlet Business Model
LEAD School Business Model
ApplyBoard’s Business Model Canvas
- Partner educational institutions
- Participating Students
- Crowdfunding investors
- Content sourcing
- Process design
- Platform development
- IT Maintenance
- Product Management
- Sales
- Customer service
- Community engagement
- Robust technology infrastructure (App, Dashboard for counsellors)
- Travel support
- Community
- To make quality education accessible to students around the world
- Innovative platform for your study abroad experience
- Apply to multiple schools and programs worldwide using one single application
- Powering students on their global education journey
- Live assistance
- Customer support via chat/email/phone
- Matching assistance
- Automation
- Transparency
- Personal assistance
- Management of the whole process
- Self service
- Canadian colleges and universities
- Canadian high school graduates
- International students interested in studying in Canada
- App
- Website
- Online Platforms
- Social Media
- Conferences
- Sales and marketing expenses
- Software and hardware development
- Onboarding staff and support
- Legal
- Commission on each student placed in an international program
- Commission on each international student placed in an educational institution
- Commission on each international student placed in a housing
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Try it freeApplyBoard’s Revenue Model
ApplyBoard makes money by combining different business models. Below, you will find the list of the different monetization strategies identified for this company:
- Revenue sharing
- Transaction facilitator
- Best in class services
- Digital transformation
- Digital
- Education
- Online marketplace
- Data as a Service (DaaS)
- Customer relationship
- Customer loyalty
- Ecosystem
- Online to Offline O2O
- Cross-selling
- Experience
- Crowdfunding
- Crowsourcing
ApplyBoard’s Case Study
ApplyBoard's CASE STUDY
We frequently delve into the intricacies of how certain companies rise to prominence in the crowded landscapes of their respective industries. One such fascinating example is ApplyBoard, a company that has revolutionized the way international students access educational opportunities across North America and beyond. In this case study, we examine the vision, innovation, and operational strategies that have propelled ApplyBoard to the forefront of the education technology sector.Founding Vision: Addressing a Global Challenge
ApplyBoard was founded in 2015 by the Basiri brothers—Martin, Meti, and Massi. Their mission was straightforward yet ambitious: to simplify the labyrinthine process of applying to academic institutions for international students. Personal experiences and observed challenges of international students inspired the Basiris to build a platform that democratized access to global educational opportunities. Unlike traditional methods that often felt cumbersome and disjointed, ApplyBoard aimed to create a unified, user-friendly platform to streamline the entire process. The success footprint of ApplyBoard speaks volumes. As of 2023, the company has facilitated the educational journeys of over 120,000 students from around the globe and partnered with more than 1,200 academic institutions in North America and the UK ([source](https://www.applyboard.com/)). Such impressive traction is a testament to the efficacy and demand of its services.A Unique Business Model: Facilitating the Application Process
ApplyBoard’s business model is as innovative as it is effective. The platform offers a comprehensive search engine allowing students to find programs and institutions that align with their academic aspirations. Once a student selects a program, ApplyBoard assists with every step: from document submission and application fees to visa procedures. The genius of ApplyBoard’s model lies in its revenue structure. While the service remains free for students, revenue is generated from educational institutions and recruitment partners who pay to be listed on the platform. This setup ensures that ApplyBoard aligns its interests with both the students and the institutions it serves. Educational institutions pay a fee for each student who enrolls through the platform, typically a percentage of the student’s first-year tuition. Additionally, ApplyBoard offers premium services for institutions, such as enhanced visibility and promotional opportunities, transforming it into a multi-faceted revenue machine. The alignment of interests and revenue by student success mirrors a compelling win-win scenario that cements ApplyBoard's unique standing in the market.Technological Backbone: Enabling Seamless Experiences
The robustness of ApplyBoard’s platform cannot be overstated. Combining intuitive design with sophisticated functionalities, the platform is more than an aggregator; it is a comprehensive educational facilitator. One of the key features is its ability to allow students to apply to multiple programs and institutions worldwide through a single application. This reduces the cognitive and logistical load on students, making the process significantly more manageable. Moreover, ApplyBoard leverages Data as a Service (DaaS) to provide personalized and optimized matches for students. This data-driven approach ensures better alignment between student needs and academic offerings, ultimately leading to higher student satisfaction and success rates.Customer Relationships: Building Trust and Loyalty
The core of ApplyBoard’s operational philosophy is its customer-centric approach. It maintains a variety of customer touchpoints, including live assistance, chat/email/phone support, and personal matching assistance. Automation tools further enhance the ease of use, making information accessible and transparent at all stages of the application process. Here, we cannot emphasize enough the emotional and functional needs ApplyBoard successfully addresses. By simplifying complex processes, the platform minimizes effort and maximizes access. The user-friendly design coupled with robust support not only informs and connects but also fosters a sense of motivation and belonging among students. This holistic approach to customer relationship management is crucial to ApplyBoard’s sustained engagement and loyalty.Impact and Future Prospects
The social and economic impacts of ApplyBoard are profound. By opening doors for international students, it adds significant value to educational institutions aiming to diversify their student populations. Beyond numbers, ApplyBoard is transforming lives. As educational expert Rana Mohtadi puts it, "The real power of a platform like ApplyBoard is its ability to make global education accessible to everyone, regardless of geographic or economic barriers.” This is a sentiment echoed by numerous students who have successfully navigated their educational journeys through the platform. Testimonials consistently highlight how ApplyBoard simplified an otherwise daunting process, making quality education attainable. With a technology-driven foundation, a synergistic revenue model, and an unwavering focus on customer needs, ApplyBoard continues to be a beacon of innovation in the educational sector. Its journey serves as a compelling case study for aspiring entrepreneurs and established players alike, proving that solving real-world problems with keen insights and advanced technological solutions is a solid formula for success. In conclusion, ApplyBoard is not just about facilitating applications; it is about transforming lives through education. The company's unique approach and innovative solutions make it a true trailblazer in the EdTech space. As we reflect on ApplyBoard’s journey, it is clear that its commitment to accessible education and streamlined processes will continue to make a lasting impact on the global education ecosystem.If you enjoyed this content, you’re in for a treat! Dive into our extensive repository of business model examples, where we’ve dissected and analyzed thousands of business strategies from top tech companies and innovative startups. Don’t miss out!