a. Using tokens using the [T] icon - This is where you would find the token to be used in the content. Since the data is raw and you exactly do not know the intent of the prospect to join your institution, so the type of tokens that you can use here will differ from that of the lead and application-level tokens. For example; you cannot use the tokens such as the college logo or college name or registered name here.
b. Duplicating other templates to create Raw Data templates: You can also copy the template from previously created templates and you have to edit the content of templates according to the requirement.
Most importantly, you cannot use a direct login link or any link that is application-specific in this template's buttons (like Apply Now). Rather you have to use the customized URLs of website links of the institutes, along with the required UTM source, medium and campaign values. This link can be generated using the tool by Google Analytics at https://ga-dev-tools.appspot.com/campaign-url-builder/
Don't Use: Direct Login Link, http://demoinstitute.com/
Once the student receives this mail/SMS and clicks on this correct link, he would be redirected to the enquiry/application landing page where he can register, and if he does, his/her lead would be created in the CRM with source as Raw Data, medium as Email (or SMS) and campaign as Event Data.
This would help you measure the ROI of the communication sent to the Raw Data by filtering out leads as per these source, medium and campaign values.