The student market in the UK is estimated to be worth 13 billion pounds of spending power a year. It is a market no company should ignore. Marketers are desperate to get students’ attention before they turn into high-earning graduates. But students are hard to reach and cynical. How can brands target them?
Youth market trend analysts advise companies who hope to market to students. He says there is no single strategy. Students organize their life on their mobile telephones, respect brands that are ethical, but worry more about how they are going to pay off their debt than world peace. Marketers must offer students something that adds to their lives. It’s not enough to simply sponsor a music tour: they have to make the event happen. For example, Carling, a beer manufacturer, introduced live music on the Tube.
Offering students help with their education and careers is an effective marketing method. The Guardian newspaper runs careers fairs and offers discounts on its products, such as Guardian Student, a 32-page newspaper.
Red Bull, a successful energy drinks brand, uses what it calls ‘energy teams’ on university campuses. The company recruits teams of students and gives them a Red Bull car, which has a fridge. The students offer samples and give information about the product benefits. They do this on campus at sporting events and at times of the year when students might need an energy boost. It’s extremely important that it’s a student doing this and not a company sales rep.
Having an insider on campus can help marketers understand student life. Youth marketing agency, Virgin D3, has a database of students who act as ‘field staff’. They ask them for help when planning an event at their university. Perhaps, by getting ideas from the students themselves, companies can find ways to reach this difficult market.