organizing for results - how to build an effective marketing function in an industry that's...
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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
A Bit About the Speaker
#AligningExperts
Jeffrey Rich Vice President
Higher Ed
Government
Agency
Corporate
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
#AligningExperts
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
• 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 • 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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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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Let’s Focus on Marketing
• Build an in-house agency • Completely outsource • Hybrid
• Marketing strategy? • Creative talent? • Media expertise? • Traffic & production systems? • Digital & analytics?
#AligningExperts
Developing an Effective Marketing Organization
#AligningExperts
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
#AligningExperts
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
You can’t cover everything. Figure out what needs support & what can survive on its own.
Developing an Effective Marketing Organization
#AligningExperts
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
Do they have the talent to create conceptual advertising?
Developing an Effective Marketing Organization
#AligningExperts
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
Mission Critical. Should be Handled
In-House
Developing an Effective Marketing Organization
Mission Critical. Must be Handled In-
House
#AligningExperts
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
Developing an Effective Marketing Organization
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
#AligningExperts
Most Often Asked Questions
• How much budget do I need?
• How much budget do I need?
• How much budget do I need?
• How much budget do I need?
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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
#AligningExperts
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
#AligningExperts
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
#AligningExperts
Afternoon Session Today @ 4:00
How to Become an Effective Media Planner for Your Institution
#AligningExperts
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