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Wednesday, 17 February 2010

The Lounge’s 10 Principles for Marketing to Students

1. Make the business case for students
University offers a unique opportunity for brands to start a relationship with a new audience. Students are entering a stage of genuine independence and many will be making buying decisions for the first time. As one of the only recession proof demographics, they are doubly attractive. With access to money from the recently reinstated grants, student loans, generous bank overdrafts, credit cards, parents and from part time work, they’re accepting of the £10k-£20k debt they will amass during their time at uni, and are happy to spend this money freely on brands they feel deliver quality and value.

2. Focus your spend
Why target students separately? Whilst they might consume some of the same media as broader ‘youth’, their lifestyle and mindset is unique. They label themselves first and foremost as ‘students’; this is their profession. They expect their status and lifestyle to be understood and addressed. Hence the raft of student specific media opportunities that have sprung up to reach them in their ‘walled’ university environments. Never has focussing spend been so easy, if this myriad of media can be sucessfully navigated.

3. Immerse yourself in students’ worlds so you can understand their reality
Most marketeers who’ve been to uni fall into the trap of applying their own experiences to today’s students, even if that experience was 10 or 20 years ago. Today’s students are bombarded with experiences, media, opportunities and marketing messages. They are therefore increasingly discerning about brands and will only start relationships with those who take the time to truly understand them.

4. Target the ‘right’ students for your brand
Students are not a homogenous group. For many, university life presents an opportunity either to reinforce or reinvent their identity. But whilst the drive to be ‘individual’ is great, the desire to fit in, make friends and belong is greater. So, they quickly morph into ‘tribes’ according to their lifestyles, interests and values. Examine which tribes hold most synergy with your brand to create a group of true brand advocates.

5. Beware the culture of expectancy
Students are incredibly expectant, and who can blame them, with readily available discounts and freebies. But while discounts are a great way to attract their attention short term, to create any repeat or lasting behaviours longer term it is all about how you build a relationship by providing ongoing value and benefits.

6. Don’t expect students to ‘do’ too much
Hand in hand with expectancy comes the challenge of how to motivate and mobilise students. Think about how you can enhance their existing routines and experiences without asking them to step outside comfort zones. Don’t expect them to do too much.

7. Shared lifestyles
No other demographic lives, socialises and spends most of their day with the same people. They are literally in each others pockets. This means that if you can attract the influencer in a friendship group you very quickly reach multiple students. This applies in the digital world too.

8. Be the entertainer and the experience provider
Students go to university to gain a degree. Well, that’s the official story. Ask any student and they’ll tell you university is all about the experiences and the lifelong friendships formed. It’s these experiences that give them social currency and bonding moments with their new-found friends. Provide the experience and invaluable word-of-mouth will follow.

9. Don’t jump on the Facebook bandwagon without a strategy
Ok, so nearly half of all students are on Facebook. And it can be a fantastic medium through which to engage them, but only if there’s a point; a reason for them to get involved with your brand. What will they get out of it? What will encourage them to accept your brand into their profiles? How do you become an integral part of and add value to what they’re already doing? In short, Facebook should be the vehicle through which to communicate a valid and interesting message, not an end in itself. Plus for an added tip see point 7.

10. Timing is everything
You might have the best idea, creative and communication strategy but if you don’t understand daily student life or the wider student calendar, both of which can vary by university, it’s likely you’ll end up on an empty campus or trying to engage them when all they can think about is exams. So, do your research on reading weeks, term dates, exam timetables, popular student nights and other local nuances. Then we have the age-old Freshers or not Freshers question, but let’s sit down for a chat about that one.

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