Higher Education: Omni Channel Marketing ROI
40-Market Higher Education Brand Lacked True Marketing ROI
A major for-profit Higher Education company spent millions each month across over 40 campuses in the US, and had no way of knowing the impact on outcomes, such as enrollments and official starts. Up until this point, they had somewhat optimized digital marketing's impact on inquiries through the use of digital attribution tools, but these lacked scale and did not integrate with their proprietary CRM technology. The proprietary CRM housed all information about conversations with Admissions staff, as well as data on conversion into enrolled students and students who began taking courses. Omnichannel marketing teams throughout the organization and its agencies used spreadsheets to determine media budgets, manually coding over 6000 rows each week.
Revenue Data Platform (RDP) Ingested, Cleaned, Integrated, Analyzed the Data and Visualized Recommendations
Transform deployed its Revenue Data Platform to provide a single source of truth for revenue and marketing performance. RDP connected directly with their CRM, as well as ingested their media budget and planning documents, and also integrated with digital KPI sources such as Google Analytics. RDP's Role-Based Bots then produced marketing optimization recommendations, using sophisticated media mix modeling approaches driven by machine learning. When RDP first produced predictive and prescriptive insights, it had a 96% accuracy rate in predicting results (enrollments and official starts), which quickly grew into a 98% accuracy rate within the second month of deployment.
The Result: $24 Million in New Revenue, 8% YOY Growth
RDP produced recommendations for budget allocation that substantially reduced advertising waste, increased enrollments and ultimately increased revenue for the Higher Education company. RDP generated new revenues of nearly 24 million over two years - an 8% Year-Over-Year increase in revenue. The company also chose to deliver some of the leftover cash from the increased advertising efficiency to the bottom line.