why branding matters in higher ed
TRANSCRIPT
Why Branding MattersWhy Branding Matters
Steve Jaworowski, VP of Marketing, Harrison CollegeCatherine Stiver, Director of Marketing, Harrison College
Harrison
Brown Mackie
Indiana University
Ivy Tech Community College
Kaplan
Strayer
Western Governor’s
Ball State
IUPUI
lots of options
TODAY’S DISCUSSION
• What is branding?• Why branding matter for schools in our sector• The process for creating a successful brand• Defining success
WHAT IS A BRAND?
Your brand is your promise to your customers
Built upon a collection of perceptions and experiences with your company
The failure of new coke
Coke/Pepsi challenge is classic example of brand importance. In response to consumers choosing the taste of Pepsi over Coke in repeated, blind taste-tests, Coke changed its formula and “New Coke” was born. BIG mistake! Loyalists of Coke were outraged. People drink Coke for reasons beyond taste – they drink because of what “Coke” represents (i.e., the brand.)
What did we learn?
Why Branding Matters
Brands are the sum of the experience, reputation and promise of your organization’s products and services
Brands are more than artistic logos
PromiseReputation
Experience
Higher education branding
Education is a high involvement purchase – expensive, long term, high risk with a lot of competition
Reputation of school becomes reputation of its alumni
=
Why Branding Matters
• Increased competition
• Marketplace saturation
• Shrinking audience
• Poor economy
So, how do you grow?
Long-term proposition
Greater Cash Flow
Deeper Market
Penetration
Lower Perceived Risk
Faster product trial
Higher Referral Rates
Greater Retention
Measuring Brand value
Rating of 0 – 100 based on:-Financial Performance-Role of brand in consumer purchase decision-Branding consistency across channels-Brand differentiation from competitors
Most valuable brands
Brand value = $42 Billion
Brand value = $55 Billion
Brand value = $60 Billion
Brand value = $70 Billion
Brand value = $71 Billion on revenues
of $46 Billion
Process overview
Understand Your Brand
Understand Your
Customer
Segment Your
Audience
Define Brand
Position
Campaign Developmen
t
Channel Strategy
Understand your brand:The Brand platform
“To be our customers’ favorite place to eat.”
Forever Young
Provide simple, easy enjoyment to every
customer at every visit.
1. Customer experience is core of everything we do
2. Commitment to our people
High quality fast food, superior service in a
clean, welcoming environment at a great
value
Brand Vision
Core Values
Brand Dimen-sions
Brand Promise
Brand Character
Understand your brand:The Brand platform
“To be our customers’ favorite place to eat.”
Forever Young
Provide simple, easy enjoyment to every
customer at every visit.
1. Customer experience is core of everything we do
2. Commitment to our people
High quality fast food, superior service in a
clean, welcoming environment at a great
value
Brand Vision
Core Values
Brand Dimen-sions
Brand Promise
Brand Character
Understand your Prospective Student
• Women (mostly) interested in returning to school
• Living in Indiana or Ohio• About ½ are married• Want to make more
money• Starting or changing
careers
Segmentation
• Process to define and identify subsets of the market
• Segments have similar need, wants or demands
• Prioritize and target• Develop a message
platform and marketing mix to match their expectations
Benchmark
Attitude & Awareness Study determines:
a) If prospects know of your brand
b) What prospects think/feel about your brand
c) What prospects think/feel about your competition
___% have heard of Harrison College
___% believe Harrison College offers a quality education