Mixing Business with Measure

As marketing higher education matures, measuring the return on investment is one of the most important things a CMO can do, but tackling that can be really challenging. In this episode, analytics and measuring guru Josh Dodson gives practical tips for measuring ROI in a way that helps determine the effectiveness of tactics but also helps justify marketing spend. 

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Key Takeaways

• Understanding Institutional Goals: The first step in ROI measurement is aligning with institutional goals, which helps direct marketing efforts to achieve enrollment and retention targets.
• Collaborative Measurement Approaches: Building cross-departmental relationships (e.g., IT and admissions) is essential for implementing tracking and analysis tools across systems.
• Primary Metrics for CMOs: Focus on cost per enrolled student by marketing channel, inquiries, and applications to track the effectiveness of various campaigns.
• Importance of Lifetime Value and Secondary Metrics: Understanding a student’s lifetime value and monitoring engagement metrics on social media help refine strategies beyond just enrollment.
• Starting with Simple Steps: CMOs new to measurement should begin by tracking foundational metrics, like inquiry forms, and gradually expand into more complex tracking systems.

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Episode Summary

Why Is Measuring ROI Important in Higher Ed Marketing?

Measuring ROI in higher education marketing is about more than just proving campaign effectiveness; it's about fulfilling the mission of higher education. Josh Dodson emphasizes that marketing’s role in higher education goes beyond driving applications—it’s about being good stewards of the institution’s resources to reach and impact more students. This data-driven approach allows institutions to prioritize actions that ultimately support larger societal improvement. Measurement helps bridge the gap between marketing and admissions by showing how each step along the student journey impacts enrollment outcomes.

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What Are Some Common Misconceptions About Measuring ROI?

One common misconception is that measurement is too difficult to implement or that it’s unnecessary. Josh argues that while some high-profile universities may not focus on growth metrics, most institutions rely on precise tracking to drive sustainable enrollment. Measurement isn’t just about tracking conversions; it’s about understanding marketing’s role in advancing institutional priorities. Institutions need effective collaboration across departments to overcome any perceived barriers. Setting up a measurement plan with Google Analytics and incorporating UTM parameters for campaign tracking can help identify what truly drives student engagement and conversions.

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Where Should Higher Ed Marketers Start with a Measurement Plan?

Josh advises starting with the institution's strategic plan to align goals and set a foundation for measurable outcomes. Once the macro goals are understood, such as increasing enrollment or attracting specific student demographics, the measurement plan can be tailored. Google Analytics is a valuable starting point for tracking traffic and conversions, but more sophisticated setups can track applications and enrollments. Using tools like UTM parameters for each marketing channel helps identify which tactics drive the most impact. As a CMO or strategist, clear and consistent naming conventions ensure that data collection is streamlined and actionable insights are easier to derive from campaigns.

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How Can Marketers Track the Entire Enrollment Funnel?

Tracking an entire enrollment funnel—from initial engagement to enrollment—requires aligning web analytics tools, like Google Analytics, with the institution’s CRM. Josh highlights that tracking channels like Facebook and Google Ads offers insights on cost per inquiry and ultimately cost per enrolled student. By setting up systems that connect all these elements, marketers can evaluate channel effectiveness beyond just inquiries, understanding which strategies lead to actual enrollments. It may take time and collaboration to implement such systems, but the payoff is enormous, as it allows marketers to allocate resources to the channels that perform best in driving enrollments.

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Which KPIs Should Higher Ed CMOs Prioritize?

CMOs need to track KPIs at both high-level and tactical levels. High-level KPIs include cost per enrolled student by channel, lifetime value of a student, and retention rates. These metrics inform strategic shifts and provide a benchmark for allocating budgets effectively. For day-to-day campaign management, metrics like cost per click, inquiries, and conversions help fine-tune specific campaigns. By focusing on metrics aligned with institutional goals, CMOs can guide their teams to work toward impactful outcomes rather than merely tracking vanity metrics.

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Are There Secondary Metrics Worth Considering?

Secondary metrics—such as social media engagement or website traffic—play an important role in measuring long-term brand loyalty and campus engagement. For example, tracking conversations and engagement on social platforms can help measure brand sentiment and attract potential students. For institutions aiming to grow their research profiles or influence peer perceptions, focusing on visibility and engagement with faculty research or thought leadership content can be impactful. These softer metrics, while secondary, often influence the broader goal of making the institution an appealing choice to prospective students and partners.

Whether you’re new to ROI measurement or seeking to optimize your current approach, this episode provides invaluable insights into establishing a robust measurement strategy that aligns marketing efforts with institutional goals.

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Confessions of a Higher Ed CMO is sponsored by our friends at Nectir - the instant chat tool that engages campus communities and reduces burnout. This community and engagement platform is purpose-built for higher education and connects campus classrooms through conversation. In just 12 months, tens of thousands of students, instructors, and administrators at partner campuses have made Nectir an integral part of their daily learning experience.  Learn more about how you can get Nectir on your campus here. 

Confessions of a Higher Ed CMO is a part of the Enrollify Podcast Network.  If you like this podcast, chances are you’ll like other Enrollify shows too!  

Our podcast network is growing by the month and we’ve got a plethora of marketing, admissions, and higher ed technology shows that are jam packed with stories, ideas, and frameworks all designed to empower you to be a better higher ed professional. Our shows feature a selection of the industry’s best as your hosts. Learn from Mickey Baines, Zach Busekrus, Jeremy Tiers, Corynn Myers, Jaime Gleason and many more. 

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