Whether you work in business, higher education admissions or institutional advancement, our current economic climate has forced everyone to take a hard look at return on investment (ROI).
It’s no longer enough to say, “Eh, we hit our goal and we stayed within budget.” As the pool of inquiries shrinks, competition will heat up, and it will become increasingly important to get the most out of your marketing dollar.
One problem still remains: Do people really take this to the root level to know how much marketing budget they can/should spend on a prospective student?
One of the questions I often ask Admission Directors is, “What’s the current return-on-investment of your viewbook [insert any other marketing effort here]?”
Most often I get a blank stare. How would you respond?
Rachel Ruben recently live-blogged Karlyn Morissette’s phenomenal presentation on calculating ROI for online marketing applications, but it’s important to measure your print efforts, too.
So, I developed a simple ROI calculator (in an Excel spreadsheet) to help you determine your return on investment for print marketing.
It’s a template more than anything—infinitely adaptable to your needs (full disclosure: the ROI calculator is supported by Spectrum, so there are links to the website in the document, but other than that, no strings attached!).
If you’d like help using it, please feel free to drop me a line at [andrews @ insidespectrum.com].
Download it here: ROI_Calculator.xls
-Andrew



