Analysis of Alumni Loyalty in Private Universities Using the SEM-PLS Model Approach

One of the main objectives of research in marketing both in the goods and services industry is customer loyalty. Research on college marketing also focuses on alumni loyalty. The purpose of this study was to analyze the effect of co-creation and experience value on student loyalty in private universities. The survey was conducted on 278 alumni from 5 (five) private universities in Palembang who were randomly selected. Data was collected by distributing the google form through the alumni unit at each university and alumni groups. Data analysis was carried out by using the structural equation model partial least square approach (SEM-PLS) with the SmartPLS3 application program. The results showed that co-creation had a positive and significant effect on the value of experience and alumni loyalty. Students who gain experience value during their lectures are those who have the opportunity to interact and play an active role on campus. High interaction shows a strong level of co-creation for students and shows a better experience value, thus impacting alumni loyalty. Alumni intend to recommend their alma mater to others and care more about their alma mater. Alumni should be given space to be able to build their campus through strong alumni ties. Alumni who have concern for the alma mater are those who have a lot of experience during their studies