Marketing is a term that is often used as a catch-all phrase to describe the efforts of a business to attract customers and increase awareness of its brand. Marketing can be very effective in helping businesses grow, but it’s important to understand how much you’re spending on digital marketing in relation to your ROI. This article will help you better understand what return on marketing investment (ROMI) is and how it relates to universities.
What is the ROI of marketing?
The return on marketing investment (ROI) is a measure of how well your marketing efforts are working. It’s calculated by dividing the revenue generated by a particular campaign or initiative by its associated marketing costs, so it can be expressed as a ratio:
- Revenue / Marketing Cost = ROI
How can a university measure its digital marketing efforts?
Before you begin to measure your marketing efforts, it’s important that you define the problem. This is not something many people do in their day-to-day lives, but it’s an essential step when setting goals for your business or organisation.
The first step is asking yourself: “What do I want?”. If you don’t know what this looks like, how can you possibly get there? So take some time and think about what success would look like at the end of six months or a year–and then break down those larger goals into smaller ones with specific milestones along the way. For example, if one of your goals is “increase awareness of your university’s courses,” maybe one milestone would be reaching 10k followers on Instagram by June 1st (this could also be broken down into smaller milestones–5k followers by April 30th).
How can a university find the right student marketing agency?
If you’re looking to hire a student marketing agency, the first step is to do your research. You don’t want to just pick an agency at random–you need to make sure that they are the best fit for your university and its goals.
Here are some questions you should ask:
- What do they do? This may seem obvious, but it’s important! Make sure that the agency has experience working with universities like yours before signing them on as your partners in student recruitment. They should be able to show off their portfolio of work with other schools similar in size and mission as yours.
- How do they do it? Every company has its own unique methodologies when it comes time for executing campaigns. Make sure yours isn’t going against what makes sense for your university by asking about these methods up front. This also makes sure there aren’t any surprises later on down the line when things don’t go exactly according to plan (or worse yet–when they don’t work at all).
Digital Marketing Strategies for Universities
Digital marketing strategies are a great way to reach your target audience and convert them into customers. Here are some examples of digital marketing strategies that universities can use:
Social media. A good social media strategy will help you engage with potential students, alumni and current students.
Video content creation (YouTube). YouTube has millions of viewers around the world. So, it makes sense for educational institutions like yours to create videos related specifically towards education-related topics. For instance, how professors teach classes at different levels (from beginner through postgraduate studies), what classes might look like when studying at your university etc.
Conclusion
Are you a university looking for the right student marketing agency? Then it’s important that you know what to look for. We hope this article has given you some insight into what makes a great digital marketing agency and how they can help your institution grow in today’s world. If there are any questions left unanswered, feel free to contact Sarah on 07816071112 or email sarah@aiminternet.co.uk.
