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Marketing and Market Development Plan Update
IAA Presidents’ ForumEdward L. Robbins, USA
April 17, 2007
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Discussion outcome
Increased awareness of accomplishments, learning and challenges, and goals for 2007
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Purpose of MMDP
Programmatic approach to accomplish strategic plan objectivesRemove key barriers to leadership and broader roles
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Strategy
Re-define the actuary brand Communicate value to employers Provide roadmap for skill development
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Accomplishments
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Launched brand @
2006 SOA Annual Meeting
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The Actuaries Brand
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Post launch feedback
110 responses90% support the new tagline 85% understand messages that support the brand68% believe that a strong brand is possible
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Post-meeting feedback
310 respondents71% reported improved understanding of new brand and key messages 29% said understanding was about the same
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Piloted “Living the Brand”
13 attendees representing Academy, Conference, CAS, and SOAOverall satisfaction = 4.6 out of 5Four out of five would be a “brand ambassador”
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Applied value ladder
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ACTUARIAL VALUE LADDER EXAMPLE
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Increased public relations outputs
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Generating National Publicity
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Media Coverage by category
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Total Impressions
64 million from June 2006 to December 2006
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Expanded grassroots resources
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Image web siteSite visits up 5x, page views 3x eNews subscribers up 10%, with open rate of 50%15 pioneers featured
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ImageWatch
November 2006Most visited:Career articles, brand posters, video and tagline
January 2007Most visited:Brand cocktail
February 2007Most visited:Career articles, brand PPT template
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Laid groundwork for relevant, meaningful measurement
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MRSAT measurement work Developed framework connecting programs to strategic goalsCollected, reported initial metricsCreated model to better understand progress toward goalsDeveloped 2007 employer survey concept “enhanced actuary brand”
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Level Measure Data Sources Target Owner
Outcome Attitude and awareness change
Previous research and 2007 employer survey
Every three years
Based on analysis of 2003 employer survey, validated by MRSAT and approved by leadership
MRSAT
Outtake Awareness, understanding, relevance, and credibility
Interviews, focus groups, response to offers/invitations
Yearly (per audience)
Proposed by staff and validated by MRSAT
Mgmt.staff
Output Quantity and quality Media monitoring, web usage stats, material usage surveys, brand audit
Monthly, quarterly annually
Proposed by staff validated by MRSAT
Program staff
Measurement model
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Outcome Measure Source Target Notes
Enhanced actuary brand
Awareness and attitudes
•2003 SOA employer research
•2006 SOA employer interviews
•2007 employer research
Awareness and attitudes exceed 2003 levels
Results utilized to establish targets
Efficacy of the MMDP and new insights to Board
Baseline for future research and core measure in brand strength index
Employer research
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Goals for 2007 Implement broader, more aggressive and strategically focused outreach Increase external focusConduct, evaluate employer researchBroaden engagement and cooperation with actuarial organizations
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