Understanding Your Marketing Funnel - Higher Education Marketing
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Understanding a higher education marketing funnel is critical to web marketing success.
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Understanding Your Marketing Funnel - Higher Education Marketing
- 1. Understanding Your Marketing Funnel Kyle James @KyleJames CEO @nuCloud Founder @eduGuru
- 3. What are our goals?
- 4. At most schools 50%+ of annual revenue comes through tuition
- 6. • Give Us Money! • But How? • Applicants • Alumni Donations • Schedule a Visit • Download Catalog • Get on Mailing List
- 7. Marketing Process Marketing Funnel Sales Funnel
- 8. Recruitment Funnel Awareness Visit Website Learn about School Convert/Engage Request Info Visit Campus Commit Apply Attend
- 9. Let’s give a specific example The Virtual Tour
- 10. Physical Campus Tour Is Critical Data from Noel-Levitz – www.noellevitz.com
- 12. ROI Analysis Build a Business Case
- 13. Establishing ROI If we can work backwards from the value of a student we can establish the value of an Interactive Campus Map. *All numbers are created as examples
- 14. Let’s Do Some Math
- 15. What is the value of a Student? • Average Years = 3 • Cost Per Year = $20,000 • Average Yearly Discount = $10,000 • Student Value = 3 * ($20,000 - $10,000) • So a Student is worth $30,000!
- 16. What is the value of an Applicant? • Student Value = $30,000 • Conversion Rate in Applicant = 20% • App Value = $30,000 * .2 • So an Applicant is worth $6,000!
- 17. Value Of Campus Tour?
- 18. What is a Campus Visit Worth? • Application Value = $6,000 • Conversion Rate of Visits to Applicant = 20% • Value of Visit = $6,000 * .2 • So Each Student Visit is Worth $1,200!
- 19. What is a Virtual Tour Visit Worth? • Visit Value = $1,200 • Conversion of Map to Visit = 5% • Value of a Map View = $1,200 * .05 • So Each Map View is Worth $60!
- 20. Do You Think 1,000 People Would View Your Map In A Month?
- 21. Then Having A Map Is Worth $60,000! Per Month!
- 22. You can now justify this project
- 24. Let’s take a step back
- 25. You can use this same process to decide the value of doing any web project
- 26. Possible Important Items Admission Specific General Goals • Apply to College • Sign up for eConnect • Schedule a Campus Visit updates • Request Info • Watch Videos • Download the • Subscribe to RSS Viewbook • Become Facebook Fan, • Take a Virtual Tour Member of a Group • Join Linked In • Read Blogs 26
- 27. The One Takeaway
- 28. This Only Works If You Convert
- 29. Questions? Kyle James @KyleJames kyle@nucloud.com
Editor's Notes
- So what is important to me? What should I be tracking?Admission SpecificApply to CollegeSchedule a Campus VisitRequest InfoDownload the ViewbookTake a Virtual TourGeneral GoalsSign up for eConnect updatesWatch VideosSubscribe to RSSBecome Facebook Fan, Member of a GroupJoin Linked InRead Blogs
- Photo Credit - http://www.flickr.com/photos/tracy_olson/61056391/
- We have heard for years that the physical campus tour is the single most important element in the recruitment process and now we have the data to back that up.https://www.noellevitz.com/papers-research-higher-education/2012/e-expectations-college-student-conversations
- http://www.flickr.com/photos/nathanbaker/479278585/The real value of a Campus Tour is it’s ability to get individuals to want to apply to your school. It can be one of the single most influential things in the decision process for a prospective student. So how much is it worth and how do we get prospective students to want to apply to our school?
- http://www.flickr.com/photos/9190330@N06/5810163712/