Effective Marketing Plan Strategies for College Success
Enhance your college's marketing plan with strategies focused on ROI, measuring outcomes, and optimizing the marketing mix. Learn how to align objectives, measure KPIs, and calculate ROI to drive success in student recruitment and engagement.
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Presentation Transcript
Marketing Plan & ROI
Creating the Plan Profit Center vs. Cost Center Align Objectives with College Strategic Plan Measure Key Performance Indicators (KPI) Build multi-channel dashboard Determine Student Lifetime Value (SLV) Customer Relations Management
Plan vs. Campaign Plan = Annual or perennial goals Campaign = set time frame
Marketing Mix The Ps & The Cs Product Customer Price Cost Place Convenience Promotion Communication P = Organizational Perspective C = Customer Perspective
Marketing Mix The Ps & The Cs People Consideration Process Collaboration Physical Qualities Confirmation P = Organizational Perspective C = Customer Perspective
Output vs. Outcome Output = 1,200 brochures made (75,000 tabloids sent out) Outcome = 348 prospect calls in 2 weeks (1 survey filled out within 3 weeks of delivery) Outcomes matter because it turns opinions into facts & cultivates buy-in for new projects
Measuring your Marketing Plan Develop quantifiable objective Determine KPI Display campaigns within ID target audiences Balance media mix Measure outcomes by media channel
Measuring your Marketing Plan Measure with Metrics Evaluate outcomes Develop multi-channel dashboard ROI analysis mROI (# enrolled x net SLV) marketing costs marketing costs
Measuring your Marketing Plan (# enrolled x net SLV) marketing costs marketing costs Example (34 new students x 1,610*) - 5,000 (digital billboard) 5,000 54740 5,000 = 49740 5,000 9.948 or 994.8% ROI * Based on SCC Avg. 7 units/semester x 5 semesters
