Investing in conversion rate optimization will make every other dollar in your budget more efficient. This episode will step you through a hypothetical scenario that will help you assess how CRO can help you hit your goals.
Need the TL;DR (or TL;DWatch) Version of this Episode?
- To help show the impact CRO can have on your enrollment marketing strategy, imagine this hypothetical situation. Julia has been given $100,000 for her recruitment budget and has a goal to have 1,300 students enrolled as a result.
- Julia divides her budget and at the end of the recruitment season there are a certain amount of students from each area she recruited in that led students to her university website.
- Assuming that the university website is converting at the national average this means that only 1% of the students visiting the university site will go on to submit an inquiry.
- As this enrollment funnel shows, Julia barely exceeded her goal.
- Now let's see how adding CRO into the enrollment budget impacts things. With 20% of Julia's budget dedicated to CRO, there is a 20% decrease in the number of students visiting Julia's university website.
- Even though not as many students are visiting the website, because of the investment in CRO the website is now converting at 3%. This means that Julia has more than double the number of inquiries she would have without CRO.
- Obviously recruiting is so much more than throwing numbers on a page, but this example is strictly to highlight the kind of impact CRO can have on your enrollment marketing strategy. It is a big mistake to ignore conversion rate optimization. It is the simplest way to more easily hit your goals.
