Session Notes - UCLA Alumni Association

Mind Your P’s, C’s and V’s A Marketing Recipe for Success

2011 UCLA Alumni Association

Leaders Conference October 22, 2011

Presentation Overview The power of your brand

The importance of communication Know your audience

Takeaways

The Power of Your Brand A brand is more than a logo and name, it is the emotion evoked when thinking of the brand A weak brand results in limited engagement, less connection Alumni engagement is related to trust in, and understanding of, the UCLA brand

Knowing Your Brand Marketing can begin once you know: Who you are Who needs to know

How will they find out? Why should they care?

What is Communication? com·mu·ni·ca·tion: Transactional process where information is shared through the assignment of meaning Transaction: Mutual influence

Process: Ongoing and directional

Assignment of meaning: What does your brand stand for?

How Do You Talk About Yourself? How Do Others Talk About You? Do You Know? The most powerful marketing is peer-to-peer.

Your Target Audience Who are they? What are their needs? What is their focus? Where do they live? Are they members?

Your answers are in the data!

Generational Traits Millennials

Gen Xers

Baby Boomers Traditionalists

1980-2001

1965-1979

1946-1964

1925-1945

92 million

62 million

78.3 million

38.6 million

Entitled

Self-reliant

Workaholic

Patriotic

Optimistic

Adaptable

Idealistic

Dependable

Civic-minded

Cynical

Competitive

Conformist

Close parental involvement

Distrusts authority

Loyal

Respects authority

Values work-life balance

Resourceful

Materialistic

Rigid

Impatient

Entrepreneurial

Seeks personal fulfillment

Financially conservative

Technology Savvy

Technology Savvy

Values titles

Solid work ethic

Multitasking Team oriented

(Alsop, Ron. THE TROPHY KIDS GROW UP: how the millennial generation is shaking up the workplace, 2008)

UCLA Alumni Segmentation Matrix

What Alumni Want Career networking Bruin marketplace Bruin Professionals and Bruin Professionals resource directory Job board, job mentor and job preparation Discounted rates for career counseling Non-local services Easy access to events Group discounts and discounts on upcoming events Library Access

678 alumni respondents – 7% response rate

Marketing in a Changing World Utilize the technology available! We must be willing and able to change in order to stay relevant. Since the World Wide Web (actively began in 1995) Smart phones Multiple channels (email, blogs, social media, etc.)

High-tech, high-touch Data-driven research capabilities

Evolution of Marketing Theory The Four P’s Product: products and services offered Price: Financial cost to target audience

Place: Physical, brick and mortar location Promotion: One-way marketing strategy

Evolution of Marketing Theory The Four C’s Content: the ongoing development of engaging content

Cost: audiences’ considerations of time, effort, finances, loss or gain of buying or engaging Connection: emotional and behavioral connection with your target audience Conversion: converting the target audience to an engaged constituency

Evolution of Marketing Theory The Four V’s

Validity: is it desired, does it matter? Value: understanding what is important to target audience Venue: no longer just physical location, but any point of contact (i.e., Internet) Vogue: messages are not only communicated well, but they must be well accepted by the target audience

Evolution of Marketing Theory

Evolution of Marketing Theory For Coffee Drinkers Four P’s Marketing targeted Price: 7-Eleven advertises the price of a cup of coffee.

Four C’s Marketing targeted Cost: McDonalds markets the time and effort saved by buying coffee in the drive-thru

Four V’s Marketing targets Value: Starbucks leverages the value of a coffee-shop lifestyle

Evolution of Marketing Theory

Evolution of Marketing Theory For Frequent Fliers

Four P’s Marketing focused on Promotion: American Airlines promotes their brand to the largest possible audience

Four C’s Marketing targeted Conversion: JetBlue engages customers, leverages brand, and inspires loyalty among customers

Four V’s Marketing targets Vogue: Virgin America goes mocial with modern, innovative ways to create a community of “brand evangelists”

Takeaways The goal of marketing has not changed, but the formula for success, the mix, the recipe has changed drastically How do we now accomplish our goals? Use multiple channels (not only email Peer-to-peer marketing is most effective Messages should be simple and clear Address the WIIFM factor What’s in it for me?

Go “mocial” – simplify for greatest impact 25% of mobile phone users in U.S. now own smart phones

Build brand trust

Takeaways Online Engagement Tips The details must be obvious and easily scanned Use short sentences and bullet points to highlight “who, what, when, where, why and how”

Always include a response mechanism Use logos and network name to brand your pages

Takeaways It’s all about…

Passion Connections Valued Relationships

UCLA!