Organizing for Results - How to Build an Effective Marketing Function in an Industry That's...

Organizing for Results

Developing a Successful Marketing Organization in an Industry that’s Resistant to Marketing

Jeffrey Rich | Vice President, Stamats

Explore 4 Key Topics

#AligningExperts

Institutional Will

Financial Resources

Organization &

Processes

Disruption of

Education

Afternoon Session

#AligningExperts

Media

A Bit About the Speaker

#AligningExperts

Jeffrey Rich Vice President

Higher Ed

Government

Agency

Corporate

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Disruption of Education

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Affordability & Access to Funding

• 3% to 5% annual tuition increases

• Increased housing and meal costs

• University textbook conspiracy • Student loans are tougher to

get • State & Federal Aid is being

challenged

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What’s Disrupting Education • Breakdown in geographic barriers to

protection • Brought about by for-profit online

institutions • Next traditionals go online • Universities for the first time need

to compete for market share • Many institutions lacked the

financial & human resources to compete

• Many lack the understanding of how to market

• Escalating Costs / Reduced Access to Funding

• Result – We Buy Students with Ever Increasing Institutional Aid #AligningExperts

Institutional Will

Institutional Will

• Understand that We Are A Business & Must Sustain Ourselves

• Understand that Price Doesn’t Always Equate to Prestige

• Develop efficiencies in the business • Develop revenue growth &

diversification strategies • Overcome internal “Cabals” • Develop a culture of progressiveness &

innovation #AligningExperts

Organization & Processes

Organization & Processes • Centralized or decentralized • Tuition-dependent or State-

dependent • Operate in an environment of

academic skepticism or professional latitude

• Do you have a President who gets it and a VP who advocates

• Do you have the financial & human resources to execute

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Marketing Reports To…

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To which unit of your institution do you report? n=207

Mostly Centralized Marketing

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How are the following functions at your institution organized? n=207

Roles of Admissions & Marketing Departments

• Marketing raises awareness of the institutional brand, schools and specific programs

• Marketing develops effective media strategies and compelling messaging to generate inquiries

• Admissions cultivates those inquiries and converts them to enrolled students

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These Functions Need to Work Together

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Let’s Focus on Marketing

• Build an in-house agency • Completely outsource • Hybrid

• Marketing strategy? • Creative talent? • Media expertise? • Traffic & production systems? • Digital & analytics?

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Developing an Effective Marketing Organization

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President

VP Marketing

& EM

Marketing Planning Creative Web

Public & Media

Relations Media

1. PR Director 2. PR Assistant

1. Agency or Freelancer

1. Traditional UG 2. School of Bus. 3. School of Ed 4. School of H.S. 5. etc.. 6. etc..

1. Art Director 2. Copywriter

1. Web Developer 2. Web Developer

• 8 Minimum FTE’s (+VP & Prez who get it)

• Still need to supplement with agency or freelance

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President

VP Marketing

& EM


Public & Media

Relations Media






You can’t cover everything. Figure out what needs support & what can survive on its own.


#AligningExperts

President

VP Marketing

& EM


Public & Media

Relations Media






Do they have the talent to create conceptual advertising?


#AligningExperts

President

VP Marketing

& EM


Public & Media

Relations Media






Mission Critical. Should be Handled

In-House


Mission Critical. Must be Handled In-

House

#AligningExperts

President

VP Marketing

& EM


Public & Media

Relations Media







Will Address in Afternoon Session

Processes • Workflow management

– Strategic & Creative Briefs to define strategy, required creative assets, messaging, calls to action, etc..

– Creative asset development & trafficking system

– Analytics & ROI assessment – Research/consumer insights,

approval processes, stakeholder buy-in/socialization

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Financial Resources

Most Often Asked Questions

• How much budget do I need?




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The Answer – How Much Have You Got?

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Experience Matters

• Media dollars = Inquiries

• Marketing & media planning are about determining “best use” – The way you spend $25K is much

different than how you would spend $250K

– Defusing your media spend reduces its effectiveness

– Often better to reduce your breadth of media

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Setting Your Budgets

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Inquiries (X) Conversion Rate (=) Enrolled Students

CPI (X) Required Inquiries (=) Marketing Budget

1,000 (X) 10% (=) 100 Enrolled Students

$115 (X) 1,000 (=) $115,000

CPES (X) Required Enrollments (=) Marketing Budget $1,500 (X) 100 (=) $115,000

Cost per Inquiry

#AligningExperts

Do you have a "cost per inquiry" for nontraditional, adult Bachelor's degree students? Base: Responsible for nontraditional, adult Bachelor degree programs n=148

Recognizing different costs may apply to different programs, what is your estimated average cost per inquiry for nontraditional, adult Bachelor's degree students? Base: Respondents stating they had a cost per inquiry. n=40

Cost per Inquiry

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Do you have a “cost per inquiry” benchmark for Master’s degree students? Base: Responsible for Master’s degree students n=165

Recognizing different costs may apply to different programs, what is your estimated average? Is your cost per inquiry for a Master’s degree student…? n=29

Cost per Enrolled Student (CPES)

#AligningExperts

Do you have a “cost per enrolled student” for nontraditional, adult Bachelor’s degree students? Base: Responsible for nontraditional, adult Bachelor degree programs n=150

Recognizing different costs may apply to different programs, what is your estimated average cost per enrolled student for nontraditional, adult Bachelor’s degree students? Base: Respondents stating they had a cost per enrolled student, n=41

Cost per Enrolled Student

#AligningExperts

Do you have a “cost per enrolled student” for Master’s degree students? Base: Responsible for Master’s degree students n=165

Recognizing different costs may apply to different programs, what is your estimated average? Is your cost per enrolled Master’s degree student…? n=29

Know Your Metrics - Set Your KPI’s

Act on Metrics • Conversion from inquiry to application to

enrollment • Cost per impression • Cost per click • Click-thru rate • Cost per piece • Cost per name Manage to KPI’s • Cost per enrolled student for UG & Grad • Cost per Inquiry for grad/non-traditional

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Adjustments • Recognize the difference between

traditional undergraduate & graduate level marketing

• Understand which programs need marketing support & which don’t

• Recognize you will get self-generated inquiries & enrollments

• Use your CPI & CPES metrics to refine the accuracy of your projections

• Recognize different programs will have different media formulas

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Afternoon Session Today @ 4:00

How to Become an Effective Media Planner for Your Institution

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#AligningExperts

Thank you! On-Campus Workshops for Marketing Departments, President’s Staffs &

Boards. Look for Upcoming Webinars

Jeffrey Rich | [email protected] | 319.440.6670

Please complete the session evaluation at: insert web address here

Organizing for Results - How to Build an Effective Marketing Function in an Industry That's...

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