Harvard Case - Measuring ROI on Sponsored Search Ads
"Measuring ROI on Sponsored Search Ads" Harvard business case study is written by Kinshuk Jerath. It deals with the challenges in the field of Marketing. The case study is 5 page(s) long and it was first published on : Apr 28, 2017
At Fern Fort University, we recommend a multi-pronged approach to measuring the ROI of sponsored search ads, focusing on both quantitative and qualitative metrics. This includes implementing a robust tracking system, conducting A/B testing, and analyzing campaign performance data to optimize ad spend and maximize return on investment.
2. Background
This case study focuses on Fern Fort University (FFU), a private university with a strong reputation for its online MBA program. FFU is facing increasing competition in the online education market and is looking to improve the effectiveness of its sponsored search ads. The university's current approach to measuring ROI relies primarily on lead generation, which provides limited insight into the actual value of its advertising efforts.
The main protagonists of the case study are:
- Dr. Susan Lee: Dean of the School of Business at FFU, responsible for overseeing the online MBA program.
- Mark Johnson: Marketing Director for the School of Business, tasked with developing and executing marketing strategies to attract new students.
- Sarah Jones: Marketing Analyst, responsible for managing and analyzing data related to the online MBA program's marketing campaigns.
3. Analysis of the Case Study
To analyze FFU's situation, we can apply the following frameworks:
1. Marketing Mix (4Ps):
- Product: FFU's online MBA program is the core product. The university needs to ensure its program is competitive in terms of curriculum, faculty, and student support.
- Price: The tuition fees for the online MBA program are a key factor influencing student enrollment. FFU needs to consider its pricing strategy in relation to competitors and the value it offers.
- Place: The online platform is the primary distribution channel for the program. FFU needs to optimize its online presence and ensure a seamless user experience.
- Promotion: Sponsored search ads are a crucial part of FFU's promotional strategy. The university needs to refine its targeting and messaging to reach the right audience.
2. Digital Marketing Strategies:
- SEM (Search Engine Marketing): FFU's reliance on sponsored search ads is a core SEM strategy. The university needs to leverage data and analytics to optimize keyword selection, bidding strategies, and ad copy.
- SEO (Search Engine Optimization): FFU should invest in improving its organic search ranking to increase visibility and attract potential students organically.
- Content Marketing: Creating valuable content like blog posts, webinars, and case studies can attract potential students and build brand awareness.
3. Customer Journey Mapping:
- FFU should map the customer journey of prospective MBA students, identifying key touchpoints and opportunities to engage with potential students through sponsored search ads.
- This will help understand how students interact with FFU's online presence and refine ad messaging and targeting.
4. SWOT Analysis:
- Strengths: FFU's strong reputation, experienced faculty, and well-structured online MBA program are key strengths.
- Weaknesses: The university's current approach to measuring ROI is inadequate, and its online presence could be improved.
- Opportunities: Expanding its online presence, leveraging social media, and implementing innovative marketing strategies are significant opportunities.
- Threats: Increasing competition from other online universities and shifting student preferences are key threats.
5. Competitive Analysis:
- FFU needs to analyze its competitors' online marketing strategies, including their use of sponsored search ads, content marketing, and social media.
- This analysis will help identify opportunities to differentiate FFU's online MBA program and attract a larger share of the market.
4. Recommendations
To improve the effectiveness of its sponsored search ads and measure ROI accurately, FFU should implement the following recommendations:
1. Implement a Robust Tracking System:
- Integrate a comprehensive tracking system to measure key performance indicators (KPIs) like website visits, lead generation, application submissions, and enrollment.
- Track the performance of different ad campaigns, keywords, and landing pages to identify areas for improvement.
2. Conduct A/B Testing:
- Experiment with different ad copy, landing pages, and bidding strategies to optimize campaign performance.
- Analyze the results of A/B testing to identify the most effective elements and refine the overall strategy.
3. Analyze Campaign Performance Data:
- Regularly analyze data from sponsored search campaigns to identify trends, patterns, and areas for improvement.
- Use data-driven insights to optimize keyword selection, bidding strategies, and ad copy.
4. Leverage Advanced Analytics:
- Utilize advanced analytics tools to gain deeper insights into customer behavior, campaign performance, and market trends.
- This will help FFU make more informed decisions about its advertising strategy and target the right audience.
5. Integrate with CRM System:
- Integrate the tracking system with FFU's CRM system to capture lead information and track their journey through the enrollment process.
- This will provide a more complete picture of the customer journey and help identify opportunities for improvement.
6. Consider Cost-Per-Acquisition (CPA) Targeting:
- Move beyond lead generation and focus on CPA targeting, which measures the cost of acquiring a new student.
- This will provide a more accurate measure of ROI and help FFU optimize its advertising spend.
7. Explore New Channels:
- Explore alternative channels like social media advertising and content marketing to reach a wider audience and diversify the university's marketing efforts.
- Integrate these channels with sponsored search ads to create a holistic marketing strategy.
5. Basis of Recommendations
These recommendations are grounded in the following considerations:
- Core competencies and consistency with mission: The recommendations align with FFU's mission to provide high-quality education and attract qualified students through effective marketing strategies.
- External customers and internal clients: The recommendations address the needs of both external customers (prospective students) and internal clients (faculty and staff) by improving the effectiveness of marketing efforts and providing valuable insights.
- Competitors: The recommendations consider the competitive landscape and aim to differentiate FFU's online MBA program through innovative marketing strategies.
- Attractiveness - quantitative measures: The recommendations focus on improving ROI and measuring the effectiveness of sponsored search ads through key performance indicators like CPA and conversion rates.
- Assumptions: The recommendations assume that FFU has access to the necessary data, technology, and resources to implement the proposed strategies.
6. Conclusion
By implementing these recommendations, FFU can significantly improve the effectiveness of its sponsored search ads and measure ROI accurately. This will enable the university to optimize its advertising spend, attract qualified students, and achieve its enrollment goals in the increasingly competitive online education market.
7. Discussion
Other alternatives not selected include:
- Reducing ad spend: This could be a short-term solution but would likely lead to a decrease in lead generation and enrollment.
- Focusing solely on lead generation: This approach would not provide a comprehensive understanding of ROI and could lead to inefficient advertising spend.
- Ignoring data and analytics: This would result in a less targeted and effective marketing strategy.
Risks and key assumptions:
- Data availability and accuracy: The effectiveness of the recommendations relies on accurate and reliable data.
- Technology infrastructure: FFU needs to ensure its technology infrastructure can support the implementation of the proposed tracking and analytics systems.
- Staff expertise: The university needs to have the necessary staff expertise to manage and analyze the data and implement the recommended strategies.
8. Next Steps
To implement the recommendations, FFU should:
- Develop a detailed implementation plan: This should include timelines, resource allocation, and key milestones.
- Train staff on data analysis and marketing tools: This will ensure the university has the necessary expertise to manage and interpret data.
- Monitor and evaluate results: Regularly track and analyze campaign performance data to identify areas for improvement and adjust the strategy as needed.
By taking these steps, FFU can effectively measure the ROI of its sponsored search ads, optimize its advertising spend, and achieve its enrollment goals in the competitive online education market.
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Case Description
This case scenario is based on a real company (with name disguised and artificial but representative data) that uses search engine advertising, running paid search ads on the two major search engines, Google and Bing. Students are presented with weekly traffic data for both Google and Bing and are asked to perform an ROI analysis for the company. Solution Notes are available for both student and instructor use for this case.
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