Financial aid swansong: Massachusetts College Goal Sunday

Posted by Christopher S Penn on Jan 31, 2010 in Economy, Education, Money | 0 comments

Financial aid swansong: Mass. College Goal Sunday

It’s fitting that my last work in the world of financial aid was to volunteer at Massachusetts College Goal Sunday. This year’s CGS was significantly different for me personally than in years past for several reasons.

First, this is the first year I’ve presented at College Goal Sunday.

Second, this is the last time I’ll be working in the financial aid industry after my departure at Edvisors.

Third, the differences in the FAFSA and FAFSA on the Web worksheets this made for a more complex, more challenging College Goal Sunday than ever before.

Let’s start with the first – relatively late in the process of creating this event, I was asked to present for the Framingham/Metrowest site. I spent some time reviewing and editing the presentation beforehand, working with the national College Goal Sunday committee to make it a little more streamlined…

… but the projector at our site didn’t work, so I ended up winging it instead. The truest test of a presenter is when everything goes wrong and that lovely slide deck you made just flat out doesn’t work. How well do you know your stuff? I’m proud to say that having none of my slides didn’t compromise the presentation at all – and in fact might have helped because the audience then HAD to listen to me and couldn’t mix up their verbal brains trying to read slides and listen to me talk at the same time.

On the second point, I can say pretty much whatever I want now that I no longer work in the industry. This is rather liberating.

Here’s the biggest challenge that we had at this year’s College Goal Sunday. The form given to students and families, the FAFSA on the Web Worksheet, is basically not worth the paper it’s printed on. It’s supposed to make the FAFSA process easier and more friendly, but instead makes it deeply confusing and frustrating for many students.

If you look at the slide deck for presenters, there are half a dozen slides which are all labeled, “Important question not on the worksheet”. That the College Goal Sunday committee had to go to these lengths is a sad commentary on how poorly the government’s forms were created with regard to the online application. Things that are omitted? Well, for starters, questions like assets (cash on hand, in savings and checking – vital financial aid information) don’t appear anywhere on the worksheets but are in the online application. Someone just using the worksheets would be rather startled to be asked for a bunch of information that isn’t in their preparatory worksheets.

Other questions that are deeply flawed? One of the biggest showstoppers – and one that caused more than one FAFSA application to completely fail – is the question about income tax paid in 2009. Again, this doesn’t appear anywhere on the worksheets. However, the wording in the online application is incredibly vague:

“Enter the amount of your income tax for 2009″.

This single question caused more errors and blowups in the application than any other, of the families I worked with. What should the question actually say?

“How much did you pay to Uncle Sam in taxes (NOT withholding, not your annual income, not anything other than what’s on line 55 of your IRS 1040) last year?”

Very few of the families who completed the FAFSA got this question down in the first attempt. Many got to the end of the application and were confronted with an error correction screen saying that the numbers in their application didn’t add up.

Another doozy, one that can affect your financial aid significantly in some cases? There’s a question about your adjusted gross income in 2009. In the online application, there’s a “helpful calculator” which supposedly can help families estimate how much their AGI is. As far as I can tell, this calculator doesn’t do anything useful, which is a shame since there are several adjustments that CAN change your adjusted gross income, which in turn can change your financial aid eligibility, such as the tuition and fees adjustment or the student loan interest adjustment. None of these are accounted for in the online application.

There are also some interesting interface issues with the online version of the FAFSA, one of which is a dealbreaker of sorts for people looking for help. Along the righthand side of the application, there are floating help boxes that change contextually based on what question you’re on. Lots of students and families today said they couldn’t find the help system at all…

… because they thought those boxes were ads. They’re strategically located in almost the exact same spot as you’d run a skyscraper banner ad, and if you look at studies of how our brains interact with web pages, we nearly automatically ignore advertisements like banner ads.

I’ve nothing but positive remarks for the staff and volunteers for this year’s College Goal Sunday. As usual, everyone who volunteered did so out of the goodness of their hearts, giving up a Sunday afternoon to help students and families figure out the world of financial aid and get them started on that path. I commend the folks at MASFAA and its partners for continuing to make this important day happen every year. I just wish Uncle Sam made it easier for those families to get through the paperwork to accomplish their educational goals.

Finally, College Goal Sunday was a great note to end my career in financial aid on. Nothing’s better than helping other people, and that’s a great way to go out.

Stay tuned tomorrow at noon eastern time for where I’m going next…

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The only marketing metric that really matters

Posted by Christopher S Penn on Jan 29, 2010 in Advertising, Marketing, Metrics, Sales | 39 comments

I’ve said in the past that marketing is the art of creating demand for your ideas, but in terms of something measurable and impactful, what does this mean? What does marketing make? Yes, it creates things like ads, Twitter accounts, email, etc. – but those are the tools to execute the mission of marketing. What does marketing actually do that’s measurable and meaningful?

Throw out all your other metrics. Followers on twitter, hits to your web site, mentions in the media. Toss them all.

The only metric that matters is this: qualified leads.

On the continuum of business, marketing (which includes marketing, advertising, and PR) takes media and audience as its raw materials and makes qualified leads.

Sales takes those raw materials, those leads, and makes them into customers.

Product design and customer service take those raw materials, those customers, and turns them into evangelists.

Everyone and everything that’s doing marketing makes qualified leads. We may not call them as such – we might call them volunteers for the non-profit, new members to the congregation, new players in the Warcraft guild – but they are.

I’m being a little facetious when I say toss out everything else – but not by much. Things like site traffic, media mentions, etc. are good diagnostic measures to tell you what’s happening with individual tools and processes, but at the end of the day, the only metric that shows you the results of your actions is the number of qualified leads that you pass on to sales to convert. For small businesses especially, marketing, sales, and service may be the same person, the same sole proprietor, but the count of qualified leads is an important number, not to be missed or glossed over.

Finally, metrics that are really trendy and popular, like ROI, are built on qualified leads. You can’t compute Return on Investment if you have no idea what the Return is, and you can’t get a Return on your Investment until you have some leads for Sales to turn into business. Worry later about ROI and worry more now about how many leads Sales has to work with.

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The iPad will be legendary for sales and marketing

Posted by Christopher S Penn on Jan 27, 2010 in Marketing, Sales, Technology | 35 comments

Steve Jobs and gang did a phenomenal job introducing the iPad for consumers. Books! Movies! Music! Games!

…but…

The iPad has the potential to make sales and marketing people into legends. Take any sales demo you’ve ever done. Take any presentation you’ve ever done. Now take it on the road. Got a prospect you want to chat things over with in a coffee shop? Bring out your Keynote app (iWork for the iPad) and you’re showing your deck or demo on a glass 10 inch screen without all the hassle of keyboards, mice, remotes, or other crap. Just open your leather binder  and show the show.

… and then …

Remember: iPhone apps run on iPad out of the box.

So you swap from your slide deck to your Salesforce.com iPhone app. You take the order right there. You’re done, and you’re on a device that looks as slick as your product or service hopefully is. No Salesforce? Use iWork’s Numbers app and fill in your order spreadsheets, or fire up Safari and complete the lead form on your web site because you’ve got 3G wherever you’ve got good mobile service.

Professional speaker? The Keynote Remote app for the iPhone will run out of the box on the iPad. Instead of squinting at your iPhone while using it as a remote for your Keynote presentations (because your laptop is tethered to the projector), you have a gorgeous way to display your speaker notes and control the show from the podium. Just slap your iPad on the podium and swipe its screen to change slides, see your speaker notes, and not miss a beat. If you’ve ever presented professionally and wished that the venue could provide a speaker’s screen, the iPad is now that screen for you regardless of venue.

Image: Engadget

Yes, you’ll be able to handle all the mundane things that iWork and other iPhone apps can do, but the large, large screen will be perfect for when you’re at trade shows, conferences, and coffee shops as a way of showing your customers and prospects all the goods you have to offer without lugging an entire IT department around with you. Anyone who’s ever hung out with me at a conference knows that I lug a server farm with me – and I probably still will to some degree, but this device certainly will make life easier for the working professional. As a bonus for conference-goers, when the venue Wi-Fi implodes – as it always does – your iPad will feed your data addiction with its 3G connection.

I can’t wait to get my hands on one of these.

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Start with a mobile browsing strategy

Posted by Christopher S Penn on Jan 26, 2010 in Marketing, Technology | 0 comments

Everyone and their cousin in marketing is panicking about your mobile strategy.

• “We have to get our sites ready for mobile!”
• “Mobile computing is the future of the Internet!”
• “Mobile devices will be the #1 web browsers real soon!”

Some of this is true. Before you rush headlong into deploying mobile everything and trying to convert every last bit of marketing collateral you’ve got into something mobile, think. Think for a few moments about mobile. What things do you like and not like about mobile?

I’ll give you an easy one. Take a look at the FAFSA form, the financial aid form that I’ve spent the last 7 years studying, presenting, and guiding people through. This form is about 108 questions long.

No matter how good your mobile platform is, no matter how awesome or shiny your mobile device is, you will not fill out the FAFSA on a keyboard – real or virtual – that’s the size of chicklets and retain your sanity after 108 form fields. Now, will there be one or two users among your many that will try? Of course. Is  the amount of time and effort needed to develop a pure mobile implementation of the FAFSA justified for those two users a year? I’d have to say probably not.

Start with a mobile browsing strategy.

1. Look at your content, look at what you have that people can look at but don’t necessarily have to interact with. That’s where your mobile work should start.
2. Use plugins for your WordPress blog – I’m a fan of the free WPTouch plugin.
3. If you have something location-based, make sure you’re set up with Google Local Business Center and have updated listings on all the major local services.
4. Check your analytics to see what percentage of users are browsing using a mobile device – find this in the screen sizes section. Look for really small screen sizes.
5. Create content with mobile in mind. Instead of giant blog posts, break topics up into sections, segments, or pieces so they can be consumed in snack size or all at once.

It’s absolutely true that mobile will be an integral part of your online marketing strategy over this year and coming years. We haven’t even scratched the surface of what’s possible. That said, the desktop/laptop isn’t going anywhere either – so don’t throw everything away for a future promise that isn’t here just yet (though it’s arriving more every day).

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Intelligence in Analytics (beta)

Posted by Christopher S Penn on Jan 25, 2010 in Marketing, Metrics | 11 comments

Find yourself overwhelmed with reporting options in Google Analytics? Not sure where to start your analysis on a regular basis? It does, after all, contain nearly everything and the kitchen sink.

Here’s an easy way to get started and a great feature to show to your team. It’s Intelligence (beta). Go to your Google Analytics, click Intelligence, and select Weekly Reports. (daily’s not necessarily all that helpful)

Now you can see major changes in your analytics data from one screen, like a “what’s new” for your data. In the example below, I can see that referrals to this site were up, as were new visitors. That tells me that folks are coming here from links on other sites. If you look on the right hand side, Google even ranks the different pieces of information by what it thinks are events of greater or lesser significance.

Click the Group by switch to change from metric to dimension – this is more or less like a simple PivotTable for the intelligence. Now, I can see that my referrals, which were up in the previous statistics, had some interesting behaviors. Their bounce rate was lower and their time on site was higher. This tells me that whatever they were coming to this site for, they found it (bounce rate dropped) and it was compelling enough that they stuck around (time on site).

Armed with this information, I can take a look at the content I created that week and any links I might have shared on Twitter, Facebook, or other places I share.

The Intelligence feature isn’t a replacement for hardcore analytics analysis by any means, but it’s a great way to start your day if you manage a web site. Intelligence will give you some initial areas to start digging into, some things to investigate as you prepare for your day.

Try it out!

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