Why Marketing Your Deals To Students Benefits Your Bottom Line

As a business owner, you’ve probably spent good money marketing to the usual groups like veterans, senior citizens, and active military personnel. Those are admirable groups to market to, since veterans and senior citizens often live on very low incomes. However, if you haven’t yet marketed to college students, it’s worth considering.

Students are easy to reach with the right methods

Students are often hard to catch with traditional marketing methods, but it’s easy with mobile marketing. If they’re not studying for a test, they’re probably glued to the screen of a mobile device.

On their mobile devices, students tend to engage with the brands they love through social media platforms like Facebook and Twitter. This can be to your advantage because it makes them a captive audience for your marketing messages. Building a relationship with them through social media is the key. Statistics show that 66% of Americans age 18-24 are loyal to the brands they follow on social media.

College students love to spend money (on certain things)

College students love spending money on things that contribute to their lifestyle preferences. Although they’re often strapped for cash, if they have to eat ramen noodles for a month to buy an expensive handbag or suit, they will.

College students have purchasing power

According to Entrepreneur.com, as of 2010, 58% of college students were living with their parents, a number that has continued to rise. Students who live with their parents often don’t pay rent because their parents want them to save up their money. This gives them more income than you might think.

Don’t hold back marketing expensive items to students

Most people think of students as in debt and underwater with student loans, struggling to make ends meet. This perception can make businesses think twice about marketing big-ticket items to students. Will they make their payments on time? However, not all students are struggling; many are able to make their student loan payments on time and have a good credit score to back them up.

If your product is practical, and students need it, they’ll find the resources to buy it.

If your product requires financing, just like any other consumer, you can have students go through the same application process to determine their eligibility.

For example, Paul Moak Honda markets a special deal to college graduates, giving them $500 off a new vehicle, purchased or leased. Any graduate of a US-accredited college or registered nursing school is eligible for their deal. Though, they still require graduates to pass the usual credit check, employment verification, and income requirements.

Students have learned how to manage money well

College students are a demographic that knows how to be frugal and manage their financial priorities. This wisdom often comes about the hard way, but at least it’s learned. They know how to balance their budget in favor of the more expensive items they can’t live without. For instance, if a student has to wait a few months to purchase a new game console in order to make a down payment on a mortgage or a car, most would put off buying that game console.

The general population, on the other hand, may be out of practice when it comes to juggling loans and making multiple payments on time.

Students will select options that are realistic for their budget

Going back to big-ticket items, students are more likely to make big purchases within the realm they can afford. Despite the growing number of people paying $500 or more per month for car payments, with terms that can last up to 68 months, students aren’t going to jump into something they know they can’t maintain. They might want the more expensive vehicle, but they’re more likely to make the practical choice.

If your market includes students, market to them

If the demographics of your market includes students, it’s beneficial to market directly to them. They’re more likely to take you up on deals for products they already need to purchase. Your deal just might make them choose you over a competitor.