Earning a Degree in Digital Emory University Touts 43% More Leads At Lower Cost

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1 Case Study GOIZUETA BUSINESS S C H O O L Earning a Degree in Digital Emory University Touts 43% More Leads At Lower Cost 2014 Simplixity

2 INTRODUCTION TO HIGHER EDUCATION ADVERTISING Institutions of higher education have traditionally relied on brand equity and respect to draw hordes of students to their doors every year. Recently, stagnant enrollment and increased competition have led to an increased focus on advertising to drive awareness. Estimates indicate that some institutions spend more than 20 percent of their annual revenues to drive their message to the masses. 1 According to the Educational Marketing Group, colleges and universities spent $1.24 billion in advertising in 2013 (excluding search marketing). 2 As advertising budgets continue to grow, new channels are gaining share of the marketing mix. Americans are spending more of their days online, so advertisers across all industries are realizing the importance of developing effective digital strategies. Internet advertising has grown to more than 25 percent of the higher education advertising allocation (Figure 1), and is expected to overtake television as the highest percentage of the advertising mix in Digital advertising offers specific benefits to higher education marketers. Figure 1: Advertising Allocation by Media Platform 2013 Source: Kantar Media, via Educational Marketing Group 11% INTERNET DISPLAY ADVERTISING ACCOUNTED FOR MORE THAN 25 PERCENT OF HIGHER EDUCATION ADVERTISING IN % 29% 14% Television Cable TV B-to-B Magazines Newspaper Outdoor Internet Display Radio 11% 6% 3% 1% Similar to brands in other verticals, universities often have various schools or programs to promote. However, they often have much more limited budgets, so educational institutions have to prove ROI in order to warrant additional expenditures. Marketing departments must have the technology and expertise in place to produce effective digital campaigns and leverage the plethora of data captured to pivot ongoing activities based on the results. 1

3 EXECUTIVE SUMMARY THE CLIENT: Emory University s Goizueta Business School THE CHALLENGE: Develop a cost-effective, time-efficient digital advertising strategy for the school s five MBA programs. THE APPROACH: AdReady enabled Goizueta to customize display campaigns for their various target audiences by combining sophisticated targeting and creative automation at low cost. THE RESULTS: Goizueta achieved significant ROI benefits, with 43 percent more website visits and cost per click decreasing by 58 percent! THE CHALLENGE Spotlight on Emory University MBA Programs While the rest of higher education has been slow to adopt digital advertising strategies, business schools have been the exception. There are myriad programs available to prospective students, all trying to sell virtually the same thing. Messaging needs to be hyper-targeted, and it is critical to deliver the right message to the right user at the right time. Goizueta Business School has a centralized marketing department that oversees the promotion for its five MBA programs: a Two-Year Full-Time MBA, a One-Year MBA, an Evening MBA, a Weekend Executive MBA and a Modular Executive MBA. Years of segmentation analysis and psychographic profiling have showed that each program has a distinct customer segment and requires unique messaging. But with a lean marketing team of six and a limited marketing budget, the school couldn t afford to run different ad campaigns with different agencies. In the past, Goizueta had ventured into digital with annual digital campaigns focused on the business school as a whole (Figure 2). However, they needed to invest in a comprehensive Figure 2: Annual Ad Campaign World-Class MBA Programs. Creating Opportunities. GOIZUETA BUSINESS S C H O O L LEARN MORE 2

4 digital strategy to market each MBA program in order to remain relevant with their prospective student market, and they needed to prove ROI in order to get buy-in from the university at large. Therefore, Goizueta needed a cost-efficient and time-effective solution that the marketing team could scale over time. THE APPROACH The AdReady Platform AdReady approached Goizueta s challenges by developing a comprehensive display solution. With the AdReady platform, AdReady was able to combine the hyper-targeting of programmatic buying with the time and cost savings of programmatic creative. Our approach enabled Goizueta to strengthen their position in the market with regard to the new four Cs of programmatic: cost, competition, capability and coverage. PROGRAMMATIC MEDIA REFERS TO DIGITAL CAMPAIGNS THAT ARE AUTOMATICALLY TRIGGERED. PROGRAMMATIC CREATIVE IS THE AUTOMATION OF THE MECHANICS OF DIGITAL AD CREATION. COST: Message Tailoring Without The Cost In the past, Goizueta s digital advertising strategies were limited due to the high costs of producing the creative needed to target their various audiences. Additionally, they were restricted to using a single 300x250 ad size. The costs of creating the digital assets required for campaign success were too high to warrant the investment. AdReady was able to provide Goizueta with a technological platform that removed these costs from the equation. The strategy was to advertise programs that Goizueta hadn t promoted in the past, starting with the one-year MBA program. The solution enabled Goizueta s marketing team to create ads tailored for each of the five MBA programs, leveraging similar creative assets and templates (Figure 3). Furthermore, in addition to creating a single unit, the client was able to automatically generate the seven standard sizes. Angela Bostick, Associate Dean of Marketing and Communications at Goizueta, explained the benefit of the tool, claiming, Without having to do much more than tweak certain things in the tool, in 10 or 15 minutes I had a suite of ads where before I would only have a single 300x250. 3

5 Figure 3: Evolution of Goizueta s Tailored Ad Campaigns GOIZUETA WAS ABLE TO GO FROM A SINGLE 300X250 UNIT TO A FULL SUITE OF COMPLEMENTARY ADS RAPIDLY AND AT LOW COST COMPETITION: Leveraging Just In Time Inventory AdReady provided Goizueta with the ability to respond in real-time to changes in the market, news, deadlines or any other time-sensitive information. The school was now able to instantaneously adapt to forces they could not plan for in the past. With the click of a button in the AdReady platform, Goizueta could change the content of their ads without having to spend the time and money to redesign the entire creative asset (Figure 4). Figure 4: Ad Editing Screen Shot MAKING TWEAKS TO AD CONTENT IS SIMPLE WITHIN THE ADREADY PLATFORM 4

6 CAPABILITY: Strengthening Your Position with Concept Testing Not only was Goizueta able to be reactive in their advertising, but with AdReady they were able to be proactive with their messaging and positioning as well. Once Goizueta was able to iterate creative on the fly with little to no additional costs, they could engage in concept testing to improve both their online and offline campaigns where in the past it would have been to expensive to conduct this level of testing. Instead of the single campaigns they were running in the past, Goizueta was now able to make minor tweaks to the creative and combine it with sophisticated targeting tactics to produce the optimal results. For example, they ran a campaign showing actual students and alumni tailored to the geotargets they were reaching. By changing the gender, job function and company of the students shown, Goizueta gained invaluable insights on what worked best in the different geographic regions they were advertising in (Figure 5). Figure 5: Concept Testing by Geography ADREADY HELPED GOIZUETA ASSESS BEST PERFORMING CREATIVE BY GEOGRAPHY, ALL WITH LITTLE INCREMENTAL COST The insights Goizueta was able to obtain from this type of concept testing not only improved their digital campaign performance, but also served as realtime focus groups to inform their print advertising in those regions. 5

7 COVERAGE: Achieve Full Scale and Reach with Efficient Media Buying JUST BY USING A TOOL THAT AUTOMATICALLY ITERATED ALL OF THE SIZES THAT I COULD POSSIBLY NEED TO USE, I WAS MAKING ALL OF MY ADVERTISING CAMPAIGN MORE EFFECTIVE. NOT BECAUSE IT S CUSTOMIZED OR BECAUSE I WAS TAILORING MY MESSAGE, BUT SIMPLY BECAUSE I WAS USING THE SIZES MORE EFFECTIVELY. - Angela Bostick Emory University s Goizueta Business School The majority of digital media buyers compete for the three most common ad sizes: 300x250, 160x600 and 728x90. As in any auction-based environment, as demand increases so too does the price, resulting in potentially inflated costs for those units. AdReady helped Goizueta compete more effectively by generating additional unit sizes at no additional cost. Efficient media buying is even more valuable when the client is engaged in highly targeted advertising such as retargeting and geo-targeting. In those situations, it is necessary to have every opportunity to reach someone in a given audience. Furthermore, Goizueta found that though non-traditional ad units represented a minority of impressions served, those units actually performed better and drove overall campaign performance (Figure 6). Figure 6: Non-Traditional Ad Unit Performance BY LEVERAGING A VARIETY OF AD SIZES, GOIZUETA WAS ABLE TO IMPROVE OVERALL CAMPAIGN PERFORMANCE Non-Traditional Sizes: 7% of spend 9% of impressions 13% of clicks CTR UP 48% Non-Traditional Ad Units CPM DOWN 24% 6

8 THE RESULTS AdReady Delivers Scale & Efficiency AdReady s automated solution made it easy and cost-effective for Goizueta to tailor their display campaigns to various audiences and test different ad performance. The result was significant ROI benefits. Between the 2012 and 2013 advertising seasons, interest in the Emory Goizueta Business School brand increased significantly while costs decreased (Figure 7). Figure 7: Goizueta Campaign Performance THE EMORY GOIZUETA BRAND BECAME MORE COMPELLING, WHILE LEADS (EACH WORTH $100K) INCREASED By relying on AdReady s industry expertise and technology rather than increased internal headcount, Goizueta could do themselves what otherwise would have taken a large staff. With AdReady, Goizueta was able to maximize their limited marketing budget and drive increased interest in their five MBA programs. 1 Five Ways Higher Education Marketing Will Change in 10 Years, The evolllution, March 2013, 2 Non-Profit Ad Spending Now Equals the For-Profit Sector, Educational Marketing Group, April 3,

9 PRESENTED BY: AdReady is a division of global digital media company, CPXi, providing best-in-class programmatic technology and managed media services to brands, agencies, publishers and marketers. Our clients are able to drive efficient and effective digital ad campaigns across display, mobile, video and social platforms. For more information, visit CLIENT: Emory University s Goizueta Business School is one of the nation s only schools with four top-20 ranked degree programs. The school offers a unique, community-oriented environment paired with an academic prestige and rigor shared with the international acclaim of Emory University. Goizueta trains business leaders of today and tomorrow with an Undergraduate degree program, a Two-Year Full-Time MBA, a One-Year MBA, an Evening MBA, an Executive MBA (Weekend and Modular formats), a Doctoral degree and a portfolio of non-degree Emory Executive Education courses. For more information, visit goizueta.emory.edu. 8

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