understanding your marketing funnel - higher education marketing
DESCRIPTION
Understanding a higher education marketing funnel is critical to web marketing success.TRANSCRIPT
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Understanding Your Marketing Funnel
Kyle James@KyleJames
CEO @nuCloudFounder @eduGuru
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What is Important?
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What are our goals?
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At most schools 50%+ of annual revenue comes
through tuition
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Follow The Money!
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IMPORTANT• Give Us Money!• But How?
• Applicants• Schedule a Visit• Download
Catalog
• Get on Mailing List
• Alumni Donations
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Marketing Funnel Sales Funnel
Marketing Process
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Recruitment Funnel
AwarenessVisit Website
Learn about School
Convert/Engage Request InfoVisit Campus
CommitApplyAttend
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Let’s give a specific exampleThe Virtual Tour
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Physical Campus Tour Is Critical
Data from Noel-Levitz – www.noellevitz.com
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Vital to Recruitment
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ROI AnalysisBuild a Business Case
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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
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Let’s Do Some Math
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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!
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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!
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Value Of Campus Tour?
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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!
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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!
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Do You Think 1,000 People Would View Your
Map In A Month?
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Then Having A Map Is Worth $60,000!
Per Month!
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You can now justify this project
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ROI Spreadsheet
http://bit.ly/map-roi
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Let’s take a step back
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You can use this same process to decide the value
of doing any web project
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Possible Important Items
Admission Specific• Apply to College• Schedule a Campus Visit• Request Info• Download the
Viewbook• Take a Virtual Tour
General Goals• Sign up for eConnect
updates• Watch Videos• Subscribe to RSS• Become Facebook Fan,
Member of a Group• Join Linked In• Read Blogs
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The One Takeaway
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This Only Works If You Convert