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Marketing Plan & ROI

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.

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Marketing Plan & ROI

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  1. Marketing Plan & ROI

  2. 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

  3. Plan vs. Campaign • Plan = Annual or perennial goals • Campaign = set time frame

  4. Marketing Mix – The Ps & The Cs Product Price Place Promotion Customer Cost Convenience Communication P = Organizational Perspective C = Customer Perspective

  5. Marketing Mix – The Ps & The Cs People Process Physical Qualities Consideration Collaboration Confirmation P = Organizational Perspective C = Customer Perspective

  6. 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

  7. Measuring your Marketing Plan • Develop quantifiable objective • Determine KPI • Display campaigns within • ID target audiences • Balance media mix • Measure outcomes by media channel

  8. Measuring your Marketing Plan • Measure with Metrics • Evaluate outcomes • Develop multi-channel dashboard • ROI analysis • mROI (# enrolled x net SLV) – marketing costs marketing costs

  9. 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

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