When you are deciding which projects to undertake next we believe there is no better tiebreaker than looking at which project has the ability to get the most “bang for the buck.” Being able to justify your project in financial terms not only helps you better define the scope of the project, but you will also find that the higher ups love to be able to align costs with the expected return. Wouldn’t you be more likely to fund a project that was going to return a financial gain than something that will just be fun to do?
We feel that we carry part of this justification responsibility when we ask a new customer to do an interactive map or virtual tour project with us. Being able to give you a simple to use tool to justify the expense of the project should help you get the approval from the powers that be. We also hope that it helps you feel like we are looking out for your best interest and not just sell you a shiny new toy. So we try to not only convey our 110% belief in our product, but we can also provide you with an analysis of what your institution can hope to gain financially from working with us. Sounds pretty good, right?
How To Use The Interactive Campus Map ROI Calculator
First of all you need to know how to get access to our ROI calculator. The link below should get you there.
You will see we have created a Google Spreadsheet where you can enter numbers in the grey shaded boxes and it will calculate numbers in the blue shaded boxes. You will notice that we make the assumption that this tool is strictly a recruitment tool. Because the majority of annual budgets comes from tuition we felt this is a logical path to take. You will probably also notice the first time you use the calculator that this same concept can be applied to many projects and conversions that happen across your web properties. If you want to manipulate the fields all we ask is that you save the file to your machine in Excel so that it doesn’t change the formatting for the next person.
What you will hopefully take away from this is that your interactive campus map is part of a marketing funnel, one in which your interactive map is the first step in a process that ultimately leads to them attending your school. As with all funnels the number of people who complete these actions are fewer and fewer the farther down the funnel we get. Having dropout like this is standard in any marketing activity. The important thing is we are now strategically thinking about how an interactive map project helps us meet our main priority, student enrollment. After all, without students paying and attending a school, then the school wouldn’t be around for very long.