Advertise and Market to Students for Better Returns
Surveys conducted recently show that spending by students amounted to more than $145 billion this year and nearly $30 billion of that was
discretionary spending. What is more, student spending is increasing. Baby boomers' children and their children are, or will be in, an institution of
tertiary education in the next ten or twenty years.
College attendance in America is growing more significant. The percentage of college students now stands at the highest ever and this tendency is not
diminishing at all. For all these reasons it is a good idea for marketing professionals, or anyone with a business, to increase their marketing efforts
where students are concerned.
As mentioned in the introduction, student spending will be more than $145 billion this year. Student spending has never been this high. This amounts
to about $14 000 per person. If any company advertised to that market and converted their input costs to just one thousandth of a percent (0.001%)
that would total $1,450,000. If only half of this was achieved ($750 000) or even a quarter ($362 500) – well, these are still big figures.
Another good reason to look at marketing to students is the importance of word-of-mouth advertising in today's commercial environment. Consider the
performance of MySpace and Facebook. Neither of these companies relied on expensive marketing campaigns to build their business. They did it by
offering a service that met need and were appreciated. Once word got out, these businesses simply grew organically and exponentially. These two
website are the two most commonly visited by young adults. These massive businesses were built purely on word-of-mouth reputation.
Never forget that students are easily influenced by their peers and tend to go with the crowd when making purchases or deciding on which route to
take. The perception might be that students are busy with classes and homework but in reality they have tons of free time where they mix with friends.
This means plenty of op