How To Market College Student Bank Accounts
Between school, socializing, and work, college students are busy. They’ve got to be selective with how they spend their free time when they’ve got it.
But despite being low on leisure time, college students aren’t skimping on shopping. But rather than browsing brick-and-mortar stores, most college students are taking care of their shopping online.
62% of students say they purchased apparel online in the past 30 days. And Refuel Agency reports that college students spend 45.8 hours a week skimming social media or consuming content on laptops, tablets, or smartphones.
So how can your brand be a lifeboat amongst the endless sea of online options? The solution is simple: offer online student discounts.
From brand awareness to post-purchase retention, college student discounts are a powerful way to encourage first-time purchases and ongoing brand loyalty. Here are 3 reasons your brand should offer college student discounts.
You may be thinking duh, everyone loves discounts. What’s so special about offering them to college students?
A survey of college students showed that when brands offer student discounts, it can make a big difference in college students’ purchasing decisions:
Did you hear that? Practically all of college students would shop more often if the brands they loved offered student discounts. College students have money to burn — make where to spend their cash an easy decision for them.
Don’t be so quick to pull that discount off the table once college students graduate. A discount program can also make a big impact on college students’ long-term loyalty to your brand, even after Graduation Day has come and gone:
On-going brand loyalty and customer retention is important, considering it costs 5 times more to get a new customer than keep an existing one. So make sure your brand has a strong plan in place for keeping college students engaged, educated, and interested in your brand, even once they’ve gotten their diploma.
Yet another perk of earning college students’ loyalty is that they’re natural brand ambassadors. If they like something, they share it with everyone they know:
Through college student’s active use of social media, your student discount program can spread like wildfire. But beyond the discount program, social media attention can give you a chance to connect with more college students:
Students discounts can earn you new customers in the college demographic, help build loyalty that lasts a lifetime, and create word-of-mouth excitement about your products. But your discounts won’t do you any good if no one knows about them in the first place. That’s where College Marketing Group can help.
At College Marketing Group, we can help your brand market to college students where they spend their time. Using paid Facebook strategies, we can help you capture and keep college students’ attention.