Implementing Technology with an Eye on ROI
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Eye on the Prize
Karlyn [email protected]
www.karlynmorissette.comwww.doteduguru.com
Implementing Technology with an Eye on ROI
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Return on Investment:
the magic number thatwill make you look likea golden god
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What is the difference betweenMarketing and Communications?
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Communications makes
marketing tactics tangible“
”
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Cartoon
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Steps of Marketing
1. Set Goals
2. Plan your communications
3. Execute
4. Assess your results
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Set Goals
⇒ What does success look like?
⇒ Marketing goals should relate back to the business goals of the institution
⇒ Make sure they are measurable
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Plan YourCommunications
⇒ What medium is the best way to
articulate your message?
⇒ What is the strategy for the
communication?
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Time is Money
Planning not only includes
strategy, but also
infrastructure. Will an
in-house solution or an
outsourced one be more
cost effective?
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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
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Execute yourcommunications
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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?
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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.
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Set Up Tracking
Two Key Tools:
⇒ Goals
⇒ URL Builder
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Step One: Set upa Goal / Funnel
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http://www.google.com/support/googleanalytics/bin/answer.py?hl=en&answer=55578
Step Two: Build a Campaign URL
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Step Three: Put the Two Together
Kyle’s Tool: http://doteduguru.com/stamats/urlbuilder
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Goal ConversionStep Three: Put the Two Together
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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.
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ROI Calculatorhttp://www.marketingtoday.com/tools/roi_calculator.htm
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Dollarize Everything
Assigning a monetary
value to your results
gives you a common
denominator to
compare costs to
outcomes
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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”
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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
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ROI Results
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Share Your Success
⇒ Make it tangible
⇒ Give it context
⇒ Offer recommendations
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Breaking Down Tactics
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The dirty littlesecret of
e-marketing
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Email Marketing: What it’s good for
⇒ Increase online
applications
⇒ Register online for an
event
⇒ Bring in online gifts
⇒ Start a conversation
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Facebook Ads
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Facebook Ads: What are they good for?
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Facebook Ads: What are they good for?
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Facebook Ads: What are they good for?
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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.
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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
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Facebook Ads: How you measure ROI
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Blogs
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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
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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
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Social Networks
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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
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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?
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Bottom Line on Measurement
How much did
achieving my goals
relate directly back to
the bottom line of my
institution?
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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
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Questions?
www.karlynmorissette.comwww.doteduguru.com
Email: [email protected]: www.twitter.com/karlynm