Building a Marketing Strategy to Attract Post-Traditional College Students
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Transcript of Building a Marketing Strategy to Attract Post-Traditional College Students
CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Building a Digital Marketing Strategy to Attract Post-Traditional Students
Bruce Douglas, CEO EducationDynamics CALEM – 4/6/17
CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Laying the Groundwork For Your Marketing Plan to Attract
Post-Traditional Students
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CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Target Audience – Post-Traditional StudentsKnow Key Facts About Your Target Audience
• Market Size – 40% of all students enrolled in higher ed
• Sex – majority are female, almost 70%
• Age – range 19-54, average undergrad is 29, grad is 33
• Family – more likely to be single, have fewer children
• Race – cross-section, but majority are non-minority
• Work Status – majority hold either full or part-time jobs
• Pre-Existing Credits – about 80% have already
• Financial Status – independent from parents, need aid
3
CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Focus on What is Important to Post-Traditional Students
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Know What Drives/Motivates Your Target Audience
• How Looking to Study? – increasingly prefer online learning, 90% rate online classes better or the same as campus class
• Why Looking to Study? – improve/change employment
• What Crucial Post-Graduation? – high job placement rate
• What Are Crucial Enrollment Decision Factors? – Tuition, reputation & convenience
• Features of Online Classes? – 82% prefer written vs. audio assignments, 78% prefer frequent short quizzes vs. less frequent exams, 59% prefer assignments due at the end of the week
CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Create Your Value Proposition for Post-Traditional Students
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Know How to Distinguish Your School With Your Target Audience
• What do you offer to your target audience?
• Does this meet their needs?
• Is this unique and distinct from your competition?
• Can you easily articulate it to your target audience?
• What is the best means of articulating it?
CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Why It Is Critical to Utilize Multiple Digital Marketing
Channels
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CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Search Engine Optimization (SEO/Organic Search)
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The Process of Earning Traffic to
Your Website Through “Natural” or “Free” Search
Results on Google, Yahoo, Bing, and
Other Search Engines
94% of All Search Clicks
are to Organic Search
Results,33% of Which Go To
the #1 Result
CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
SEO – The Four Essential “Legs” to Success
To Succeed, Deliver on Each Critical Area
• Excellent/Relevant Site Content – both “Head Terms” AND “Long Tail” Search Phrases/Keywords
• A Site That Can Easily Be “Found” by Search Engines – Great Technical Site Structure
• Extensive Links to Highly Reputable Sites
• A Comprehensive Presence on Social Media
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CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
SEO – Pros and Cons
• Pros• No Direct Cost • Very Targeted Traffic • High Converting• More Trust-Worthy than “Ads”• Creates an Aura of Authority
• Cons• It Takes Time (6-12+ months) • No Guarantees of Success • Must Be Continually Updated/Optimized
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CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Search Engine Marketing (SEM)/Paid Search
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The Process of Gaining Website Traffic by
Purchasing Ads on Search Engines
6% of all Search Clicks
are to Paid Ads
CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Paid Search – Pros and Cons
• Pros• High Intention & Targeted Traffic • Quick Results • Consistent Traffic• Easily Trackable and Measurable• Huge Volume Potential• Easy To A/B Test• Only Pay If Consumer Clicks on Ad
• Cons• Time Consuming to Set Up and Manage• Can be Very Costly• Can be Very Competitive
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CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Display and Social Advertising
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Graphical Advertising/Video That Appears Next to Content on Web Pages, Mobile Applications, E-mail..
CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Display and Social – Pros and Cons
• Pros• Huge Reach• Builds Brands• Lower Cost Per Click Than Paid Search • Remarketing of Website Visitors • Easy to Track and Measure• Targetable by Demographics
• Cons• Lower Conversion Rates Than Paid Search• Little to No Intent, Likely Lower Quality Traffic• Higher Risk; Usually Purchased as CPM (cost/thousand)
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CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Affiliate Marketing
Performance-Based Marketing Where An Institution Compensates a 3rd Party Marketing Company For Each Inquiry
Generated by the Affiliate’s Marketing Efforts
Pay Per Action TypesPay Per Lead
Pay Per InquiryPay Per ClickPay Per Sale
Pay Per DownloadPay Per Call
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CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
User is Tracked and Labeled as a Successful Conversion!
User submits
RFI
User Clicks On
Ad
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Affiliate Shows Ad
on Website
Affiliate Marketing – Partner Types
1. Traffic Sent to School and Conversion
Happens on School Site
2. Entire Consumer Interaction Takes Place
on Affiliate Site and Conversion Sent to
School
CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Affiliate Marketing – Pros and Cons
• Pros• No Upfront Marketing Expenditures• Only Pay on Desired Results• Easy to Outsource • Additional Brand Exposure
• Cons• Affiliates Must Be Actively Managed and
Metrics Traced Very Closely• “Rogue” Affiliates Can Damage Brand and
Increase Liability
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CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Television
• Very Large Reach
• Frequency is Critical
• Essential for Branding
• Targeting is Crucial
• Lifts Effectiveness of Other Marketing Channels
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No Marketing Channel is More Effective in Driving Awareness and Improving Branding
CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Television – Shifting Consumer Consumption
• Netflix• Hulu• Apple TV• Chromecast• YouTube• Amazon Prime• HBO Now
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Mobile Devices and Web Enabled Televisions are Rapidly Shifting How People Consume “Television”
CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Mobile Marketing Implications
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You Can Not Truly Succeed Without Mobile Marketing• 51.2% of Website Visits Are On a Mobile Device• Every Aspect of Your Sites, Including Your Forms, Must Be
Mobile Optimized, Preferably Built Specifically for Mobile
CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Other Brand Driven Channels
Utilize Numerous Marketing Channels If You Can Do So Cost Effectively
• Radio – traditional and internet
• Print – newspapers, magazines, free standing inserts…
• Outdoor/Billboards – including transit
• Sponsorships – sports, charities…
• Event Marketing – actual presence at events
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CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Television/Branding – Pros and Cons
• Pros• Reinforces Other Marketing Channels • Reaches Wide Audience Very Quickly • Creates Branding & Grows Awareness• Uses Sight, Sound and Motion • High Converting and Well Qualified Audience
• Cons• Can Be Very Expensive• Difficult to Do Clean A/B Testing, Takes Time to Make Changes• Difficult to Track Results For Each Spot Run • Takes Time to Get Desired Results
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CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
E-Mail Marketing
E-Mail HAS to Be Part of Everyone’s Marketing Mix
• Consumers Purchase From E-Mail – 44% of adults
• Personalized E-Mail is More Effective – 29% higher open rates, and 41% higher click-thru rates
• ROI is Very High – for every $1 spent on email marketing, the average return on investment is $38.43
• Marketers Love E-Mail – 75% believe most effective tactic for awareness, acquisition, conversion, and retention
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CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
E-Mail Marketing – Pros and Cons
• Pros• East to Track Results• Easy to Test• Further Establishes Brand Awareness• Very Low Cost • Easy to Produce and Personalize and Target• Can Message Many Prospects with Same Message at Same Time
• Cons• Heavy Consumer In-Box Clutter• Low Open and Click-Thru Rates• Unsubscribe Rates are Increasing
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CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Testing and Properly Measuring All Results Are Critical to
Optimizing Your Marketing
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CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
The Importance of Testing
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Test, Test Some More, Then Keep Going!!
• Why Is It Critical To Test? – provides quick, measurable results
• What is A/B Split Testing? – every other site visitor sees your current experience (“A”) v. what you are testing (“B”)
• What Do I Test? – copy, creative, positioning…calls to action!
• How Often Do I Test? – as often as you can, so long as results are statistically significant
CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Measuring Success – Conversion Rates
Define What Conversion Metrics are Important to You
• Website Conversion Rates = Leads/Visits
• Application Conversion Rates = Applications/Leads
• Enrollment Conversion Rates = Enrollments/Applications
• Start Conversion Rates = Starts/Enrollments
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CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Measuring Success – Revenue Statistics
Revenue per Student (RPS)
$500 per Credit X
40 Credit Hours per Student
= $20,000 Revenue per Student
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Revenue per Site Visit (RPV)
$400,000 Net Revenue /
10,000 Monthly Site Visits
= $40 Revenue per Site Visit
CONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLCCONFIDENTIAL INFORMATION OF EDUCATIONDYNAMICS, LLC
Measuring Success – Cost Metrics
CPS v. Cost Per Lead (CPL)
$45,000 Marketing Spend / 1,000 Leads Generated = $45
CPL
1% of Leads Become Starts = 10 Students
= $45,000 / 10 Students = $4,500 CPS
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Cost Per Start (CPS)
• Define Your Overall CPS Target (e.g. $3,500)
• Define Your Paid Media CPS Target (e.g. $4,500; takes into account X volume of free starts from SEO)