Last week the Net Natives team were at NAGAP, presenting on two topics: tracking marketing spend from initial touchpoint to enrollment, and successfully using market research to engage postgraduate students. You can download the slides here.
In the Aligning your martech with your CRM to discover true cost per enrollment session, our presenters Jennifer Lonchar, Vice President of Strategy and Partnerships at Net Natives and Jason Hamilton, Product Success Director at Net Natives, focused on how you can align your technology to enable you to calculate your true cost per enrollment.
If you weren't lucky enough to be in the Windy City for the event, here’s a round up of what you missed:
Engage stakeholders early
Consult early and often with all your key stakeholders to ensure buy-in across departments, agree responsibilities and set targets. Make sure your reporting is transparent across your organization, connect teams and bring performance data together - from Cost per Lead (CPL) in Marketing to Cost per Enrollment (CPE) in admissions - having full visibility is crucial to understanding your ROI.
Set up prospect pipelines
For every funnel stage, set up a pipeline mirroring your CRM, so your Admissions team knows exactly what stage each prospect is at, and Marketing can see what’s happening at each stage of the funnel.
Look at how your campaign is performing against key elements: prospects/leads, applications and enrollments. Keep track of your goals and how close you are to meeting them, allowing you to take smart actions. If your Cost per Application (CPA) is too high, that doesn’t mean you need to add budget to the top of your funnel. Instead, take existing leads and push them through to application via nurture campaigns and direct intervention.
Look at platform performance
Consider cost per platform for every campaign; you might be surprised. In the session, our experts revealed that for a campaign we ran in October 2021, LinkedIn proved to be lower cost than the other, more obvious platforms like Facebook and Google.
Look at CPA and CPE against each platform to uncover the role they play in your campaigns, and look at individual prospects by platform to find out where they are stuck in the funnel.
A specialist Akero tracks every application and enrollment straight back to the original advertising message and media that first got your prospective student’s attention. Meaning you can understand which channels are hitting the mark and discover the true return on investment of your campaigns.
If you would like to learn more about how Akero Enrollment Attribution can help you achieve your 2022 recruitment goals, watch our webinar on-demand here or get in touch with one of our experts today.