Are you maximizing the hot transfer channel?
The share of volume (SOV) for all third-party inquiries warmed up a bit to 55.5% during Q1 2017, according to our Q1 2017 Higher Education Inquiry Generation Review. Third-party inquiries have continued to experience growth in conversion rates since 2015, but the real flare of Q1 2017 for third-party inquiries was hot transfers. Hot transfers continued a growth pattern with YOY increases in SOV, conversion rate and share of conversion for Q1 2017 compared to both 2016 and 2015.
The SOV for third-party hot transfers has increased more than 150% since the start of 2015, and conversion rate (CVR) for hot transfers continued to climb in Q1 2017 according to the Q1 2017 Higher Education Inquiry Generation Review. Since 2015, the CVR for hot transfers has had positive momentum, experiencing 135% growth. Starting at 9.4% in 2015, the CVR for hot transfers reached 12.4% in Q1 2017. In 2015, the SOC for hot transfers was 1.5%. By Q1 2017, it was 4.0%. The growth from Q1 2015 to Q1 2017 was greater than 630%. In fact, the Q1 2017 hot transfer share of conversions (SOC) was greater than that of all first-party channels with the exception of internal website and PPC.
The Climate of All Third-Party Media Channels
The share of volume for third-party data leads cooled down a bit in Q1 2017 to 49.5%. In comparison to hot transfers, the CVR for data leads was also much lower at 2.9%, making the CVR for hot transfers more than 300% higher than the CVR for data leads during Q1 2017. Meanwhile, the SOV for affiliate PPC leads in Q1 2017 did not see the same dip, and inched up from 2016 to just over 2%. SOC gained some traction for affiliate PPC leads with Q1 2017, almost four times higher than it was in 2015.
Getting Top Performance for Your Bottom Dollar
Good news to higher education marketers, capitalizing on the strong CVR of hot transfers shouldn’t break the bank for your overall marketing budget. The cost of hot transfers has been normalizing over the past couple of years. Hot transfers were quite the bargain at an average cost per inquiry (CPI) of $95.34 in Q1 2017. From strictly a cost of conversion comparison, hot transfers beat data leads, as the cost per conversion from data leads averaged out at almost double that of hot transfers. Hot transfers provide an institution with the promise of lead exclusivity and a streamlined method of contact, which establishes a lead with the highest propensity to convert for third-party leads.
Learn More About the Growth of Hot Transfers
The Q1 2017 Higher Education Inquiry Generation Review covers trends in the inquiry generation and student acquisition activities of higher education institutions for the period of January 2015-March 2017, with an emphasis on January-March 2017. The objective of this review is to provide a snapshot of the education-specific marketing evolution and also highlight trends that can help marketers better understand and adapt to the continually changing landscape.
Interested in learning more about hot transfers and its impact as a media channel for your school? Contact the DMS team today.
Click here to download the Q1 2017 Higher Education Inquiry Generation Review.
About the Author
Melissa Piccinich is a Marketing Manager at Digital Media Solutions (DMS), an industry leader in providing end-to-end customer acquisition solutions that help clients grow their businesses and realize their marketing goals. In this role, Melissa handles marketing and communications efforts for DMS and its subsidiary brands. Since its inception, DMS has evolved into a full-service performance marketing company that services firms within highly complex and competitive industries including mortgage, education, insurance, consumer brands, automotive, jobs and careers. DMS has achieved incredible year-over-year growth, which has earned recognition on the Inc. 5000 list in 2014, 2015, 2016 and 2017.
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