Strategy that Matters: Measurement beyond the Clip Report for Colleges and Universities
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Transcript of Strategy that Matters: Measurement beyond the Clip Report for Colleges and Universities
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Cohl
Strategy that Matters: Measurement and Evaluation
beyond the Clip Report
MaKi Business School Conference Madrid
7 June 2013
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Kiki Keating, JD Tuck School of Business at Dartmouth University
Lynda Oliver, MBA Southern Methodist University Cox School of Business
David Geddes, MBA PhD The Cohl Group
It’s a challenging world …
… even for top ranked international business schools • Globalization • Do more with less, both people and budgets • Technology is speeding things up • Demonstrating ROI of MBA and business degrees • Justifying marketing and communications budgets • Identifying gaps in strategy and execution
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Institutions with a strong strategic vision will be rise to the top.
Success vs. failure?
• Research-based, deep understanding of your institutional essence … of your strengths, weakness, and aspirations … and of what makes your stakeholders tick
• A vision, mission, and values suitable for your institution. • Well conceived goals • A strategic plan aligned with your goals and your
aspirations • Excellent strategy execution • Measurable objectives supporting strategy • A program of research, measurement, and evaluation built
in to your organization.
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Use research techniques to measure and evaluate …
in order to improve business processes
Does your measurement measure up?
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• Why are we measuring? • Are we only measuring what is easy to
count? • Offensive or defensive measurement? • Are we measuring what needs to be
measured? • Does our measurement track strategic
objectives and outcomes? • Does our measurement help us improve?
A measurement and evaluation strategy
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Step I: Define goals and objectives
• Define university/school goals • Link marketing and communications
objectives to university goals • Set measurable objectives
– Who? – What? – By how much? – When?
• Build research, measurement, and evaluation into your work
Step II: Multi-level measurement
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Step II: Measurement grid
Step III: Set targets
Exceptional
Baseline = Where we are now
Very good
Acceptable
Failure
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Step IV: Measure
Step V: Evaluate and prescribe
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Step VI: Present results and insights
Summary
• Research for deep understanding • Articulate strategy for marketing, branding, or
communications • Set measurable objectives • Select multi-level metrics • Evaluate for insights • Apply insights to improve
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CASE STUDY: SMU COX SCHOOL OF BUSINESS
SMU COX: Is our marketing working?
• Situation: – New admissions team > more scrutiny – New MBA info session program formats – New media strategy: traditional > online – Declining apps in some MBA programs – Marketing budget cuts imminent
• Our challenge: How do we measure what matters?
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How Do We Measure Success?
• Admissions = applications
• Marketing = ?
Measuring What Matters
Output measures • Clip reports • Website traffic • Social media activity Outcome measures • Leads Business value measures • Cost per lead • Correlation of marketing spend and leads
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Media Clips
0
200
400
600
800
1000
1200
1400
1600
2007 2008 2009 2010 2011 2012
+10%
*Note: 2010 was an anomaly due to an unprecedented number of media quotes regarding Gulf Coast spill
Website traffic
0
10000
20000
30000
40000
50000
60000
70000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2010
2011
2012
2013
cox.smu.edu traffic: + 7% (vs. peer group who saw -‐4% – +3.87%)
coxgrad.com traffic: +93%; all driven by markeZng
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Social Media Activity
Leads & Cost Per Lead • Marketing efficacy demonstrated by “leads” – one
who’s exposed to our message and, within 30 days: – Requests Information – Signs up for information sessions – Starts online application – Downloads a brochure (good, but not counted as a lead)
1,288 unique visitors were exposed to our messages and said, “I’m interested!!!”
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Why use a “Cost Per Lead?”
• A benchmark metric that we use to measure results in comparison to past trends
• A means by which to evaluate media options and compare performance
• A way to quantify our expectations of a media plan’s impact
• A demonstrated outcome as a direct result of our efforts.
So What’s The Right Price?
• How much would you pay for a qualified lead?
– $1000?
– $500?
– $250?
• Let’s measure, compare and evaluate so we can establish relevant industry benchmarks.
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And in the end….
• Marketing was not the problem – Clips were up 10% – We doubled website traffic with our efforts alone – Social media activity was up +25% – 100% – We doubled online spending but tripled the number
of leads – We reduced the cost per lead by 40%
• In fact, marketing could be the solution!
Cohl
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We’re listeners, leaders, skeptics, and true believers—and we’re driven by a love of learning and a shared dedication to excellence.
We’re devoted to advancing educational institutions—and the causes they serve.
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Together, we leverage decades of proven, interdisciplinary experience to build comprehensive solutions to the challenges our clients face.
What we do
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SERVICES
• Research qualitative and quantitative research and analysis, including: online, telephone, and in-person interviews; focus and discussion groups; media and social media analytics; data mining
• Strategy organizational and communications strategy; positioning, brand architecture, and naming; segmentation, targeted messages, and values implementation
SERVICES
• Creative Creative strategy, copywriting, voice, design strategy, advertising, and photography for branding, marketing, advertising, recruitment, and fundraising
• Interactive interactive strategy, research, and analysis; user experience, segmentation, content development, social media strategy, design, and implementation
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SERVICES
• Development Development and alumni relations strategy; capital campaign and annual fund strategy, messaging, and naming; case statement development, design, and production; direct and electronic mail and collateral development
• Admissions Admissions strategy; prospect identification; marketing and communications materials, viewbooks, interactive, print, and multimedia campaigns
We’ve helped quite a few clients advance their causes
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A GROUP DEVOTED TO HIGHER ED • Brown University • College Board • Columbia Business School • Cooper Union • Cornell Johnson School of Management • Cornell University • Dartmouth College • Fontbonne College • Georgia Tech • Harvard University • Indian School of Business • Johns Hopkins Carey Business School • Johns Hopkins Center for Talented Youth • Johns Hopkins University
• KAUST • London Business School • Missouri University of Science and
Technology • Moscow School of Management/
Skolkovo • New York Institute of Technology • Sarah Lawrence College • Siberian Federal University • SMU • The Florida State University • The SAT • Thunderbird • Washington University in St. Louis • Washington University Medical School
So….
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Are you driving without a road map?
Or … speeding forward through strategy, segmentation, research and evaluation?
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That’s what we do.
For more information contact:
Peter Cohl [email protected] +1-917-833-6220
Kiki Keating [email protected] +1-603-858-2733
David Geddes, MBA, PhD [email protected] +1-314-960-4780
Lynda Oliver [email protected] +1-214-768-3678