Recommended
More Related Content
Similar to #Econfpsu16 - CPL is Dead! Why End-to-End Tracking Matters
Similar to #Econfpsu16 - CPL is Dead! Why End-to-End Tracking Matters (20)
Recently uploaded
Recently uploaded (20)
#Econfpsu16 - CPL is Dead! Why End-to-End Tracking Matters
- 1. CPL is Dead! Why End-to-End Tracking Matters Sydney Sheedy - Account Manager | 360Partners sydney.sheedy@360partners.com | 512-583-0078
- 2. 2 What to Expect to Learn Today • The essential role tracking plays in meeting your business goals – What we learned following implementation of end-to-end tracking – What you should do if you don’t have this level of tracking – How to use the data when you do
- 3. 3 Agenda • Student recruitment is like baseball • RN to BSN case study • What should I do?
- 4. 4 Today We Are Going to Talk About Baseball
- 5. 5 Historically, Baseball Used Scouts to Evaluate Talent
- 6. 6 Scouts Looked for “Ideal Players” Wanted this… …not this
- 7. 7 Teams with the Most Money Could “Buy” the Best Talent 0 5 10 15 20 25 30 $- $20 $40 $60 $80 $100 $120 $140 New York Yankees Boston Red Sox St. Louis Cardinals Baltimore Orioles Oakland A's Minnesota Twins Payroll & World Series Wins Payroll World Series Wins
- 8. 8 How Could the “Have Not” Teams Compete? New York Yankees $125,000,000 Oakland Athletics $39,000,000
- 9. 9 In this Environment, Billy Beane Became the General Manager of the Oakland A’s in 1997
- 10. 10 Brought Statistical Analysis into the Game • A player’s overall statistics centered on the player’s batting percentage (the ability to get on base) • Beane shared learnings about each players’ analysis to help them improve their chances • For example, he told some: – No bunting – Don’t steal bases – Don’t swing at the first pitch
- 11. 11 Under Billy Beane, the Oakland A’s Showed Amazing Success Today, all teams use elements of Statistical Analysis
- 12. 12 Finding Baseball Talent is a Lot Like Finding Students for Your Programs Website Information Request Application Enrollment High School College International AAA AA Major LeagueA
- 13. 13 Agenda • Student recruitment is like baseball • RN to BSN case study • What should I do?
- 14. 14 360Partners Worked with a Not-for-Profit University RN to BSN Degree • Strong brand name – National powerhouse – Top nursing degree program – Well-known and respected • Compelling value propositions – Competitive price – Multiple start dates – Short time to completion Marketing had grown stale
- 15. 15 We Were on a Digital Marketing Roller Coaster Does this sound familiar?
- 16. 16 Team Used a Four Step Process for Implementing End-to-End Tracking Step 1: Implement Tracking Step 2: Analyze Results Step 3: Make Changes Step 4: Repeat
- 17. 17 Step 1: Implement End-to-End Tracking Website Information Request Application Enrollment Channel Data CRM Data Excel
- 18. 18 Step 2: Analyze Data for Insights Website Information Request Application Enrollment Website Information Request Application Enrollment Before: After:
- 19. 19 End-to-End Tracking Revealed that All Leads are Not Equal • Lead quality varied drastically by channel – Facebook leads enroll at about 1/5 the rate of Google Search • Even within a channel, lead-to-application and lead-to-enrollment varied by keyword – This led to the creation of not only channel-specific CPL goals as an initial indicator of performance, but also targeting specific CPLs for keyword segments • Geography is important – even for an online program – The vast majority of enrollments still come from within 100 miles of the physical location – Other hot-spots for students exist, but it’s not always where you would expect
- 20. 20 Step 3: Take Action on Insights • Change allocation of spend between channels – Increased spend on Google Search – Decreased spend on Facebook • Set different CPL goals based on the channel, geography, and keyword type • Rebuilt some campaigns to align with the updated strategy
- 21. 21 Results – Was it Successful? 11,892 12,309 - 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Number of Leads Year-Over-Year, leads increased by 4%... $99.43 $111.00 $- $20.00 $40.00 $60.00 $80.00 $100.00 $120.00 Cost Per Lead …while CPL increased by 13% By “historical metrics” efforts were not successful
- 22. 22 However, Based on Results that Matter, Efforts Were Wildly Successful 1,197 1,578 - 200 400 600 800 1,000 1,200 1,400 1,600 1,800 Number of New Enrollments New enrollments increased by 32%.... $988 $866 $- $200 $400 $600 $800 $1,000 $1,200 Cost Per Enrollment Cost-per-enrollment decreased by 12%
- 23. 23 Step 4: Repeat. We Continue to Optimize Over Time • This is not a set-it-and-forget-it method • Both back-end (lead-to-app and lead-to-enroll) and front-end metrics fluctuate over time • In order to continually grow the account and ultimately the number of enrollments, we: – refine CPL targets on an ongoing basis – shift budgets to ensure we are maximizing the best performing segments – expand profitable segments (do more of what works)
- 24. 24 Today We Measure Success Using Several Metrics • We still use CPL to measure success, but… • It’s not the sole focus of our optimizations • We also look at CPA (application) as an initial indicator • And ultimately tie performance back to CPE (enrollment)
- 25. 25 Agenda • Student recruitment is like baseball • RN to BSN case study • What should I do?
- 26. 26 If You Still Use CPL as the Sole Metric for Success… • Determine if you have full funnel data available – If so, use it! – If not, start that conversation • Implementing an end-to-end tracking solution can be difficult, but it’s not impossible • Once tracking is in place, begin collecting data • Use the data to adjust CPL goals based on varying performance • Wash, rinse, repeat
- 27. 27 If You Have End-to-End Tracking… • Use it to your advantage! • Create reports to tie channel data (cost) to applications and enrollments • Analyze the data on an ongoing basis • Use back-end data to create front-end goals • Measure initial performance against these, while continuously revisiting the back-end data
- 28. 28 If I Were to Do This Again • I’d implement end-to-end tracking sooner • And use it better • No, really: – End-to-end tracking would be the initial focus, ensuring we can accurately measure results – This would solve the majority of our early problems • Spend roller coaster • Making decisions based on the wrong metrics
- 30. 30 Questions? Sydney Sheedy Account Manager | 360Partners Questions or Feedback: sydney.sheedy@360partners.com Twitter: @Sydney_Sheedy
Editor's Notes
- Hoping that you can take some element from this presentation and apply it to what you’re doing
- Cute kid, right? Gets his good looks from me. Seven year old son and baseball is his current obsession. as I was working on this presentation, I was trying to think of a good story That was relatable to both what we do, but also to real life and baseball seemed like a good fit. Not here to talk about how cute my kid is, though I could go on about that all day Gonna talk about baseball instead
- When recruiting talent for baseball teams, scouts have historically been used. You’ve probably seen them from time to time and you always picture them as The guy sitting behind home plate with a speedometer telling how fast the pitcher can throw They looked at baseball players from a number of angles Could they hit Could they field the ball How fast could they throw How fast could they run How much could they lift Did they fit into the baseball player model A lot of this method was built on intuition and gut instinct – these scouts hav been in the game of baseball forever
- First – I’ll pause and say “you’re welcome” Seriously though – scouts were looking for baseball players who fit into the stereotypical model They wanted players who could play, but also looked the part Could they draw fans to the stadium Could they sell the brand
- What happened in this model is that teams with higher salary budgets could buy the best talent Think about it…if there is a team who can pay you 10 million dollars and a team who can pay 3 million dollars – or less, which would the player go with Most would choose the higher salary There is a correlation between the payroll of major league teams and world series wins…now, it’s not a 1-1 correlation, but there is a pattern here
- It was difficult for teams who couldn’t afford those higher salaries to compete in the game. NY Yankees have a salary budget of around 125 mil The Oakland A’s have a budget of about 40 mil As you can imagine, it’s hard for the Oakland A’s to recruit – and even more-so to KEEP the talent
- Has anyone read the book MoneyBall or maybe seen the movie with Brad Pitt and Jonah Hill? It’s a story about Billy Beane – who was the General Manager of the Oakland As It was his job to recruit talent for the team and he was failing He only had so much budget to offer the talent and all the talent that he wanted to keep was going elsewhere In this environment, he knew that he couldn’t win…something had to change
- This is where statistical analysis comes into play Essentially he looked at players across a wide variety of metrics and rated them The overall rating revolved around a players batting percentage or their ability to get on a base He said…if you can get hits, you can get runs, and if you can get runs, you can win games…and ultimately, if you can win games, you can win the world series And that’s always the ultimate goal, right? Shared learnings with the players Helped them to improve their results… For example:
- With this new system, the Oakland A’s had great results They did not win the world series, but they went on to a 20 game winning stream Which was completely unheard of Not only that, but they changed the recruiting process for baseball Now, all teams use elements of statistical analysis to in their scouting process
- So what does baseball have to do with higher education? Well, finding baseball players for the major league teams is a lot like finding students for your programs It’s basically a funnel and a farm system
- Want to tell you a story about a program that we were marketing
- So I didn’t tell you the whole story earlier Billy beane was the high school phenom He was the “ideal player” that scouts were looking to recruit He was so good that he was offered a 200 thousand dollar signing bonus –which was unheard of But he flamed out…he made it to the major leagues, but he never lived up to his potential Using statistical analysis – the new method that he was proposing – he would never have been recruited If he can realize that change is necessary – even if the earlier method rewarded him, so can we