I d. I always will

Undergraduate Marketing Competition

Bryan Brindley, Allison Dodakian, Grace McGuire, Cassidy Moriarty, and Justin Pollock

AGENDA

THE CHALLENGE RESEARCH METHODS

SWOT ANALYSIS COMPETITOR ANALYSIS

PRIMARY RESEARCH FINDINGS INSIGHTS

PINTEREST THE IN-STORE EXPERIENCE

TARGET MARKETS THE BIG IDEA

THE CAMPAIGN IMPLEMENTATION & RESULTS

RESEARCH METHODS

IN-DEPTH INTERVIEWS (IDIs)

17

174

SURVEY

1

IN-STORE OBSERVATION

• Use innovative strategies and big ideas to drive sales and grow market share

• Make Macy’s #1 in Weddings and Wedding Registries

THE CHALLENGE

SWOT ANALYSIS

• Strategic partnership with wedding expert Clinton Kelly • Personalized responses to social media posts • Strong brand loyalty • Positive in-store experience

STRENGTHS

WEAKNESSES

• Doesn’t carry top ring brands • Lacks a consistent wedding presence in each store • No separate app for registries • "I do” campaign is not relatable

• Competitors have more social media followers • Competitors have lower priced products with similar perceived quality • New third-party registry services are emerging

OPPORTUNITIES

THREATS

• Most couples prefer an online experience to in-store • Millennials will dominate the wedding industry for the next 15 years • Millennials are passionate about giving back • New markets are growing, such as LGBT

SWOT ANALYSIS

COMPETITOR ANALYSIS

• Bed Bath & Beyond focuses on a personal consultant experience, offering customers guidance every step of the way

• Fun informative videos with real couples

• Suggestions from consultants and the ability to see consultants' sample registries

• Registry-related homepage of the app

• Target focuses on a wide selection of products at a flexible price range, suiting customer’s everyday needs

• Models featured in playful pictures; doesn’t feel as forced

• Models in “real-life” situations, like in the kitchen, rather than at weddings

• Separate app for wedding and baby registries

PRIMARY RESEARCH FINDINGS

Macy's should focus on product selection, ease of registering, and

discounts/perks.

Macy's should focus on online, social media, in-store promotions

and events.

Bloomingdale's is #1 followed by Bed Bath & Beyond and

Macy's.

What elements matter most to you when deciding where to register?

What types of advertising impact you the most?

Of the options below, which of the following are would you consider registering at?

ADVERTISEMENT INSIGHTS

Current advertisements for the “I do” campaign are not relatable to Millennials. The models

seem staged, and the wedding themes stray too far from traditional.

The small focus on LGBT weddings shadows the current trends.

IN-STORE INSIGHTS

There is inconsistency in what each Macy’s store offers in terms of the entire wedding-

process essentials.

Online wedding registrants are surpassing in-stores registrants, so the experiences

must both be stimulating.

SOCIAL MEDIA INSIGHTSSocial media platforms are very important for Millennials when it comes to marriage, and

Macy's must take advantage of their following and grow it in the future

Millennials must view Macy's overall brand and their wedding registries as synonymous on social media. In the past month, In January,

Macy’s made the following number of posts in reference to weddings:

2/36 Facebook Posts

2/61 Twitter Tweets

1/30 Instagram Posts

3/44 Pinterest Boards

Macy’s is #2 behind Target on Facebook, Twitter, and Instagram in number of likes and

followers

• Social media is the #1 way for brides to connect with wedding

brands/products during planning (75% in 2013)

• Pinterest is the largest wedding research opportunity (67%

pinned content)

• Macy’s trails both Target and Bed Bath & Beyond in followers

and boards

• Macy’s must be more digitally social on Pinterest and engage

with customers to position themselves above competitors

THE IN-STORE EXPERIENCE

Details we were told about the registry process:

Macy’s Metro Center Washington, D.C.

• Goal is to have newly registered couples scanning within 7 minutes of entering the store • Very few customers ask about jewelry or dresses — they don’t consider Macy’s as a provider of all-

things-wedding • At the registry counter, there were several “Our Guest Books,” which were wedding albums from real

couples

TARGET MARKETS

Julia & Luis The Millennial Marriage

Cindy and Molly The Modern Marriage

• First-time brides tend to be older, averaging at age 29 • All types of couples • Care about CSR • More casual lifestyles

Things we know about our target markets:

THE BIG IDEA

"I d. I always will " A wedding is one of the most important emotional experiences one person can have with another. Macy’s will be top-of-mind for Modern Millennial Marriages by being a part of the relationship. Macy's must introduce them to each other; Macy's must welcome them to their first home; Macy's must walk them down the aisle. Macy's must hold their hands through the entire process. Couples will go to Macy’s because it offers the options they need for every emotional experience. When Millennial couples think of Macy’s, they’ll say, "I do. I always will.”

In a relationship with

COMMUNICATION MARKETING

OBJECTIVES

• To make the “I do” campaign relatable to Millennials planning a

wedding

• To convince couples that Macy’s will give them their dream wedding - from the ring to

everything that follows

• To incorporate Macy’s into every milestone in couples’

relationships, creating lifelong customers

• To encourage Millennials to share their passion for Macy’s wedding

registries

• To increase social media engagement of Macy’s wedding

registries by 50%

• To increase awareness of the Macy’s Wedding Registry

Program by 30%

“I DO” CAMPAIGN RECOMMENDATIONS

Current Issue: Advertisements for the "I do" campaign display models who seem too

young and whose love seems too staged.

Have newly engaged couples who register at Macy's post videos and pictures of their wedding planning progress on social media with the hashtag #IReallyDo. Macy's will narrow down the top 5 couples to be voted on by other Macy's customers. The winners of #IReallyDo will have professional photos of their wedding featured in the Macy's catalog and will have a spot on the Macy's float for the Thanksgiving Day Parade.

Solution Campaign IdeaMacy’s should feature REAL couples in advertisements with REAL stories.

Have REAL couples explain why they chose to register at Macy’s. Authenticity will appeal to consumers much more than staged marriages. This will feature couples from around the country with diverse ethnicities and sexual orientations.

"Why would you have your wedding registry at Macy's?"

What better way for Macy's to be a part of a relationship than for Macy's to spark it? Macy's will host events in their flagship stores for single men and women to meet, mingle, and maybe even find true love. Macy's wants to promote love for everyone and proceeds from these events will support the DreamTogether Fund

to help people in need have their own dream wedding.

Macy’s Presents: The "agic .f "eeting

THE MAGIC OF MEETINGIncorporate the integration of technology and dating

Hidden Benefits: Macy’s receives access to all Facebook information.

“Cheers” sends "become friends" signal to Facebook.

After that, singles choose their matches!

QR code reader integrates Facebook profile into digitally-enabled cup.

THE MAGIC OF MORE

We want Macy's to be the one-stop-shop wedding destination to fit with the Millennial lifestyle of ease, convenience and efficiency. To do so, Macy's will provide a holistic wedding package by partnering with different segments of the wedding industry, such as wedding and financial planners, travel agents, venues, caterers, etc. Customers can pick and choose the services they would like and will say "I do. I always will."

Perks• Offer discounts to couples who use

Macy’s partnerships • Designate Macy’s Wedding

Ambassadors for targeted regions who provide support for each wedding segment

THE MAGIC OF MORE

A strategic partnership between Macy's and Bloomingdale's will drive customer loyalty among both

brands. Our survey respondents were more likely to register at Bloomingdale's over all other wedding registries provided. Giving Macy’s registrants the option to add items from Bloomingdale's will create a greater selection and a wider range of high-end products from a store they love.

TACTICS

Millennials are passionate about giving back. 60% feel they are best represented by “things they do for other people.”

CSR: Paying it Forward• Increase wedding-related social

media posts by 50% during August and February, building awareness during peak wedding registry months (Sept, Oct, Mar)

Social Media Pushes

Online AdsIn addition to buying items for the couple or adding to the Dream Fund, guests will have the opportunity to donate to the DreamTogether Fund, Macy's new foundation. Proceeds support those who cannot afford their own dream wedding.

• Promote banner ads on wedding sites and blogs

• Include "click away only" pop-up ads on Macy's.com homepage about wedding registries

IMPLEMENTATION & RESULTSTimeline

February 2016

• Increase wedding-related social media posts to 50%

• Semi-Annual Magic of Meeting

• Pop-up ads resume

November 2015

• Pop-up ads end • Decrease

wedding-related social media posts by 25% to adjust for holidays

May 2015

• Research, team building, and planning for the DreamTogether Fund

• Design new print and pop-up ads

• Plan Magic of Meeting event

August 2015

• Pop-up ads begin • Semi-Annual

Magic of Meeting event

• Increase wedding posts on social media by 50%

• Launch DreamTogether Fund

• Increase in social media presence • Increase in awareness of the “I do” campaign• Increase in couples who register at Macy’s• Increase in life-long brand loyalty

Expected Results

Thank you and we look forward to working with you!