The Challenge: Lower CPE For A Private, For-Profit College
A private, for-profit college saw a rise in its average cost per enrollment (CPE) over the prior 12 months and needed to reverse this costly trend. Tapping into the Digital Media Solutions (DMS) toolset, consisting of first-party data, proprietary technology and expansive media reach, and using strategic, targeted campaign optimization tactics, DMS successfully lowered the school’s average CPE.
The Solution: DMS Managed Services For Enrollment Marketing
The DMS managed services team analyzed school data combined with customized, DMS data plus audience-specific third-party data to create a customized, strategic marketing plan for the school.
Vendor management from DMS saves your team significant effort by managing third-party enrollment marketing campaigns on your behalf. Contact DMS to learn more.
- Analysis: DMS media strategists evaluated the program-level performance of active inquiry providers, leading to media buying, performance reviews and optimizations by program. Inquiries and enrollments were heat mapped to identify the zip codes with the highest conversion rates. Tapping into the DMS first-party data asset, the DMS managed services team performed a competitive analysis to evaluate average costs and conversion rates compared to schools with similar programs and locations. Websites and request for information (RFI) landing pages on third-party lead vendor websites were also reviewed to ensure accurate, relevant and differentiating program, subject and category messaging.
- Right-Pricing, Geo-Targeting And Other Refinements: The DMS managed services team negotiated revised costs per lead (CPLs) based on historic global performance and desired results. CPLs were lowered for vendors delivering CPEs above target and increased for high-quality vendors to boost placements and volume. Meanwhile, vendors that did not show opportunity for refinement were paused. DMS worked with lead providers to improve performance by refining their geo-targeting, adding qualifying questions to their inquiry forms and/or adding new filter requirements, such as graduation year restrictions.
- Adding Volume & Vendors: To offset the volume loss from paused vendors, program-specific volume increases were provided to the highest converting active vendors by leveraging the dynamic capabilities of DMS-owned Sparkroom technology. The DMS managed services team selected new lead providers to be added to the media plan based on vendors’ high conversion rates for similar programs and high-quality media mix, with a focus on sites with higher proportions of paid search, organic search and content-focused websites.
Let DMS manage third-party media planning, execution and compliance monitoring for you. Contact DMS to learn more about how we leverage performance marketing and media buying expertise to develop, execute and optimize integrated, cross-channel marketing campaigns on behalf of our clients.
The Results: Lower CPE, Higher Enrollment Rate, Less Media Spend
For the three-month period following the optimizations made by the DMS managed services team, the school's CPE fell by $410 (or 22%), in comparison to the prior five months, and was down 19% year over year. The decreased CPE resulted from a 49% increase in the enrollment rate due to inquiries being of higher quality and closer to the school's target profile. Media spending was also reduced by 28% as a result of the refined media plan.
Do You Want To Lower Your Higher Education CPE & Improve Additional Enrollment Marketing Metrics?
Leveraging our first-party data asset, proprietary tech stack and expansive digital media reach, Digital Media Solutions efficiently and effectively connects advertisers with customers and near customers to maximize digital advertising results. The DMS managed services team leverages the DMS toolset and digital performance advertising expertise to develop, execute and optimize strategies that connect with tightly defined audiences to build brand awareness, boost engagement and drive conversions.