When it comes to money, the perception of the starving college student applies less and less.
According to findings in the “American Freshmen: Forty-Year Trends 1966—2006” report from the Higher Education Research Institute at UCLA’s Graduate School of Education & Information Studies, entering freshmen in 2005 “came from households with a parental median income of $74,000, 60% higher than the national average of $46,326.”
An Alloy Marketing + Media-commissioned study by Harris Interactive found that 2007 college students age 18 to 30 have $48 billion in mad money or disposable income.
On campus, much of that spending is going toward technology such as mobile phones. So college students have mobile phones and money. How can marketers use one to generate the other? After all, unsolicited messages sent to mobile phones are just portable spam.
Marketers may reach college students by capitalizing on their penchant for texting. Embedding short codes on product packages can prompt texting, and the potential goes beyond Coke cans and snack wrappers. Short codes on physical media such as newspapers, magazines and billboards tie them to mobile handsets, along with the permission required to reach mobile users, at least with a specific offer.
Photo by butte.edu.
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