implementing technology with an eye on roi

Eye on the Prize

Karlyn Morissettekarlyn@karlynmorissette.com

www.karlynmorissette.comwww.doteduguru.com

Implementing Technology with an Eye on ROI

Return on Investment:

the magic number thatwill make you look likea golden god

What is the difference betweenMarketing and Communications?

Communications makes

marketing tactics tangible“

”

Cartoon

Steps of Marketing

1. Set Goals

2. Plan your communications

3. Execute

4. Assess your results

Set Goals

⇒ What does success look like?

⇒ Marketing goals should relate back to the business goals of the institution

⇒ Make sure they are measurable

Plan YourCommunications

⇒ What medium is the best way to

articulate your message?

⇒ What is the strategy for the

communication?

Time is Money

Planning not only includes

strategy, but also

infrastructure. Will an

in-house solution or an

outsourced one be more

cost effective?

Step One:Employee’s Salary+ 1/3 Salary (benefits)==================Total Salary

Step Two:Total Salary / 2080===============Hourly Wage

Step Three:Hourly WageX Number of Staff Hours==================Internal Cost

Execute yourcommunications

Assess your results

⇒ What was achieved as a direct resultof the communication?

⇒ Did that conversion result in a return?

⇒ What can I do better next time?

Example: Email Marketing

Set up tracking for an email

that is sent out to

prospects, encouraging

them to fill out an online

application for admissions.

Set Up Tracking

Two Key Tools:

⇒ Goals

⇒ URL Builder

Step One: Set upa Goal / Funnel

http://www.google.com/support/googleanalytics/bin/answer.py?hl=en&answer=55578

Step Two: Build a Campaign URL

Step Three: Put the Two Together

Kyle’s Tool: http://doteduguru.com/stamats/urlbuilder

Goal ConversionStep Three: Put the Two Together

Example: Email Marketing

Figure out ROI on an email

campaign that sent out

3,000 emails, had 358 click

throughs, resulting in 130

applications. The email took

2 hours to complete, at the

cost of $40/hr staff time

and $0.015/per email.

ROI Calculatorhttp://www.marketingtoday.com/tools/roi_calculator.htm

Dollarize Everything

Assigning a monetary

value to your results

gives you a common

denominator to

compare costs to

outcomes

Assigning Value

Cost of Tuition: $20,000/year

Conversion rate from application to enroll: 20%

20% of $20,000 is $4,000

$4,000 is our “average profit per sale”

Values for the Calculator

⇒ Number of Pieces: 3,000

⇒ Total Program Costs: ($0.015 X 3,000) + ($40 X 2) = $125

⇒ Response Rate: 358 clicks/3,000 = 11.93%

⇒ Conversion Rate: 130 apps/358 = 36.31%

⇒ Average Profit Per Sale: $4,000

ROI Results

Share Your Success

⇒ Make it tangible

⇒ Give it context

⇒ Offer recommendations

Breaking Down Tactics

The dirty littlesecret of

e-marketing

Email Marketing: What it’s good for

⇒ Increase online

applications

⇒ Register online for an

event

⇒ Bring in online gifts

⇒ Start a conversation

Facebook Ads

Facebook Ads: What are they good for?

Facebook Ads: What are they good for?

Facebook Ads: What are they good for?

Facebook Ads: How you measure ROI

⇒ Use a Google Analytics campaign URL

⇒ Set up a goal or create a unique landing

page to track conversion.

⇒ Assign a value and use the ROI

calculator.

Facebook Ads: How you measure ROI

⇒ Number of pieces: The total number of impressions

⇒ Program costs: The total amount paid for the ads, plus staff time.

⇒ Response rate: The percent of people who clicked on the ad

⇒ Conversion rate: The percent of people fulfilled the call-to-action

⇒ Average profit per sale: The value you assign to them fulfilling the action

Facebook Ads: How you measure ROI

Blogs

Blogs: What are they good for?

⇒ Provide authentic stories of

the student experience

⇒ An opportunity for

interaction with current

students

⇒ Make institutional

announcements and

calls-to-action

⇒ Gain insight into the minds

of your audience

Blogs: How can you measure ROI?

⇒ Conversion, if you have a call to action

⇒ Readers: Cost of advertising in a similar

content channel

⇒ Comments: Cost of a focus group, if it

provides insight

⇒ Anecdotal: Take it on a case-by-case basis

Social Networks

Social Networks: What are they good for?

⇒ Allowing your audience to become a friend/fan/follower of your institution

⇒ Engaging incoming students over the summer to prevent “sugar off”

⇒ Giving alumni volunteers a way to interact with each other and share tips

Social Networks: How you measure ROI

⇒ Easy dissemination of information: What would it

cost you in over mediums? What was your

conversion rate with calls-to-action?

⇒ Ease sugar off: Did the percentage of summer

sugar off go down? How much value does that

translate into?

⇒ Support alumni volunteers: Where your volunteers

more successful as a result? What value does that

translate into?

Bottom Line on Measurement

How much did

achieving my goals

relate directly back to

the bottom line of my

institution?

Key Takeaways

⇒ Start with bottom-line

related goals, not with

the technology

⇒ Measure everything

⇒ Dollarize your results to

calculate ROI

⇒ Always ask what you can

do better next time

Questions?

www.karlynmorissette.comwww.doteduguru.com

Email: karlyn@karlynmorissette.comTwitter: www.twitter.com/karlynm