With the holiday season upon us, you may be contemplating some marketing for your school. Michael Massie’s latest book on Martial Arts Sales talks about ROI – Return On Investment (gray box, about half-way down on that page). Let’s look at how MasterVision can help you track the performance of the marketing you do.
MasterVision uses a “Source” to track your marketing. You can setup Sources by opening them at File > Open > System Setup > Sources from the MasterVision menu. It looks like this:
The Description is whatever you want to type in. Check the “Active” box to that you can select this source on the student form.
Category, Type and Offer are all options that you can setup yourself by right-clicking on them. They can be anything you want (whatever makes sense for how you do your marketing), but here are some ideas:
- Category: Is the broad category for this type of marketing. Ideas might be:
- Events (Birthday party, sleepovers, halloween party, etc.)
- Direct Mail (Postcards, ValPaks, etc.)
- Online (Website, AdWords)
- Drive-by (For the drop-ins)
- Referral (For student referrals )
- Type: Can be used to better define your Category. So you might want Types like:
- Birthday Party
- Parent Nite Out
- Halloween Party
- Offer: Is the various offers you make in your marketing. Some examples might be:
- 2 Weeks Free
- Free Uniform
- Parents Train Free
Once you’ve setup your Sources, when you create a new prospect you can then enter the source for how they heard about you on the student form:
Now that you’ve done the work to setup Sources and are entering Sources when you input a new prospect, you can run a report in MasterVision to show exactly how your marketing is doing and to see you Return On Investment (ROI). In Reports, select the Activity category and then the Source report. It looks like this:
This reports gives you a breakdown then of how each of your sources did for the time period you selected. You can see what sources generated the most prospects, how much each prospect cost, what percentage of those prospects you converted into students, and your conversion rate.
Armed with that information, you can make more informed decisions about your next round of marketing.