Marketing to College Students has changed drastically in a few short years according to the Y2M: Youth Media and Marketing Networks Fifth Annual College Graduate Lifestyle Survey.
College Students Search the Internet
The Internet is now the primary marketing media for these young people. But don't be guilty of thinking that two million college graduates are simply young people starting out "into the adult" world. They spend $40 Billion annually.
Credit card issuers are aware of the trend and certainly know the game (See http://www.homebusinessop.com/bestcreditcards and you'll see a section of credit cards developed especially for college students.) The study shows that nearly 30% of these two million consumers plan to obtain a new credit card this year. That's 600,000 new approved credit card applications!
What are those credit cards going to be used for? The top preferences are clothing, travel and furniture.
College Students Buy Online
This is a test. See if you can spot a trend. The 2004 Lifestyle Report showed that 21% of the graduates purchased products online. The 2005 Report showed an increase to 80%. 71% perform their banking online. 50% download music online.
69% have posted resumes online and actively search for jobs and income opportunities.
College Students Thrive Online
Today's college students and graduates are much more Internet-savvy than their counterparts of the past. Social networking online is the predominant way of keeping in touch with others.
Where do they get their news? Online, of course. A full 78% of those surveyed reported online news services as their preference, up from 20% a year earlier.
Marketers Must...
- Understand that this population segment prefers good, fast service
- Undertand they are both educated and intelligent
- Understand they will be loyal followers to those who cater to their needs
These young people are familiar with blogs, RSS feeds and other advances in technology and information sharing. Wise is the marketer who acts accordingly.