To choose what your EI metrics will be, it is necessary to be clear about what objectives you intend to achieve in order to define how to measure Sweden Email List your efforts.In addition to that, it is very important not to associate this data with indicators known as vanity metrics.Although they are not totally dispensable, metrics such as the number of likes, shares and followers should be observed, but they will not be able to fully determine the success of your IE’s digital marketing campaign .What should be analyzed
are the metrics that offer information on the attraction of new students, the conversion rate of the education funnel, the return on investment of campaign spending, among others.Types of metricsEach institution has its peculiarities and this is reflected in the specific objectives that they intend to achieve. Thinking about that, we separate some metrics that may be interesting to evaluate the strategies practiced by your IE.Return on investment (ROI)With this metric it is possible to know the return generated by a certain campaign of your institution.For example, a university creates a strategy to publicize its selection process and all the expenses involved with that action will be analyzed and compared with the value obtained from the enrollment of new students.Thus, it will be possible to calculate how much value this strategy generated for the
institution.The formula to remove it is:ROI = Result obtained – invested value / invested valueAcquisition cost per studentIn other businesses, this type of metric is known as Cost of Acquisition per Customer. As we are talking about an Educational Institution, what we need to discover is how much money was invested to win the student.To make this calculation, all the expenses of Marketing and those of the commercial team (if any) of your IE must be considered, during a certain period of time, and compared with the number of new students conquered during that same period.The formula is:Acquisition cost per investment in marketing and sales Number of new clients in a given period.Average billIf your institution is private, it is important to find out how much income each student generates. If this value is very low, it may mean that the monthly payment needs an adjustment or that some expenses must be reduced
The formula is:Average monthly bill = Monthly income / number of clients per monthValue of the student’s lifetimeThis metric allows you to calculate how much money each student will generate for your IE, taking into account the time that they will probably be enrolled. In addition to offering greater predictability, this calculation also allows, when compared to the Acquisition Cost per Student, to indicate whether your institution is financially sustainable.