Thursday, March 12, 2015

How do college students get product information?

For advertisers that have a target demographic that skews to younger adults, more than likely, these advertisers are interested in the millennial generation. Approximately 19 million+ of them are college students in the United States. The potential of this population’s spending power is highly attractive.

eMarketer reports on a survey produced by the Student Monitor in fall of 2014. One of the questions inquired how students like to receive information on a product or service. The top five methods were:

Word-of-mouth: 48%

Ad on the internet: 39%

Ad on TV: 31%

Free samples in a store: 29%

Information on the internet: 21%

From reviewing the responses, an advertiser can glean that college students trust peers, the ability to see the product and try it out prior to purchasing, and will notice details in Television and internet ads in addition to websites.

Try working a marketing plan based on those parameters and see if there is a measurable difference between previous campaigns and the current plan. If it helps improve the return on investment (ROI), continue. If it doesn’t, re-evaluate to see what the least effective component to the plan is likely and remove it.

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