5 Tips for Effectively Marketing to College Students

The U.S. has some 21 million+ college students. Tech-savvy trendsetters who spend more time together than most other social or professional groups. To put that further into perspective, Generation Y is now estimated to be the largest consumer group in U.S. history.

Decision-makers in marketing departments all over the country might think of keg stands, spring break, and slim wallets when they hear the word "student." Too often, college students are treated like any other segment. Or not focused on at all.

Yet, college back-to-school spending alone will surpass $30 billion this year* and in a study of the "Millennial Traveler" the Boston Consulting Group concluded;

"....Airlines, hotels, and destinations that don’t reach out to Millennials now, seeking to understand and address their unique needs, may miss the boat entirely”

So we've got a large audience with unique needs and solid purchasing power. Then, how can you do better than most, and effectively market to college students? Let's look at five simple steps:

1. Embrace segmentation
   Before all else, segment your customers and identify which ones are college students. Do you do that? Only when you have that information can your marketing become truly effective. Armed with information, you can change the message, send relevant emails, create college landing pages, and design campaigns that look like they were meant for students.
2. Admit that you are old
   Most decision-makers are a little too old or disconnected to adequately understand the student demographic. Having a kid in college does not qualify. Being older than college students is fine, so long as you do not pretend to speak their language, understand their tastes, or tell them what to do.
3. Keep things simple, and find someone young
   Common courtesy and short, to-the-point messages beat trying to be hip. All age groups respect honesty and brands that are true to themselves. If you can afford it, hire someone who uses SnapChat and knows how to play beer pong. If you cannot afford that, how about an intern who can provide some insight?
4. Provide a real incentive
   Amazon provides free Prime subscriptions to students. Apple offers students deep discounts on its products. But offering student discounts is not the only option you have. Could you offer better service? Better terms and conditions? A free trial? Whatever your differentiator for the student segment is, make sure it includes a real incentive.
5. Use targeted marketing
   Create separate landing pages, email marketing strategies, social media accounts, and mobile applications so that you can segment your message. Present your unique value proposition in a channel dedicated to students.

Why are many brands doing a B- job of targeting college students? Why are they not seeing what Apple is seeing? Apple has enjoyed incredible success thanks to its great product design, smart marketing, and robust product line. Apple has gone from a college market share in the teens to more than 35%, all in the last few years. And those numbers keep growing.

According to a study by Student Monitor and Forbes: Among students planning to buy a new computer, nearly 50% said they planned to buy a Mac. Needless to say, those are staggering numbers. Apple understands the value of the college market. The company is committed to the idea that today's savvy college students are tomorrow's businessmen and businesswomen, doctors, engineers, and teachers. Apple understands the importance of price differentiation; it provides incentives to students via a separate channel, The Apple Store for Education.

If the product is right and the perceived benefit is greater than the cost, student budgets are suddenly elastic. Apple's computers and products are significantly more expensive than Dell's, yet it now has a greater market share.

Ask yourself, what is the future value of all those illuminated Apple logos in classrooms all over the world? Do you still think college students can't be loyal? Apple clearly believes in students' loyalty, and so should any company that believes in its own work.

Red Bull, maker of a popular energy drink, allocated the majority of its budget to marketing to Generation Y. Its efforts included cars on college campuses, free Red Bull at parties, extreme sports events, and the use of racy language. Those marketing tactics are no coincidence.

Now, you might be thinking, Well that's Red Bull and Apple; that's not like my company.

Think about this: At StudentUniverse, our company, we get deals for students from more than 60 airlines and numerous merchants; millions of U.S. college students visit our site; and verified students can become members for free. Airlines establish a connection with students, drive incremental business, and fill seats - all in a socially acceptable manner (if you, as a business traveler, sat next to a student on an airplane who got a discount for her ticket, would you mind?). Most importantly, our airline partners are building relationships today with the students who will soon be their business travelers, thereby building loyalty.

So, how are you connecting with the uber-connected? These emerging adults have the money and freedom to start choosing which brands will lead them through college and into adulthood. Attract them now, or risk missing out on the next generation of college-educated power-consumers.

* Based on US National Retail Federation reports