A common objective for brands is to increase repeat purchases and secure loyalty from consumers. But without engaging students, this becomes a much more difficult endeavor…
From the moment we inherit our own spending power, we start creating loyalties to brands. And for those who choose to go to college, that moment typically comes when they become a student. With new experiences and a new budget to match, it’s a crucial time for brands to make a first impression.
There are a lot of brands out there that are quintessentially student-facing – but even if your brand doesn’t quite fit this bill, you should still be targeting 16-24-year-old students. We’re here to tell you why – and how to do it.
Student consumers are at a point in their lives where loyalties are formed – to people, to places, to experiences, and to brands. The purchasing decisions they make now will stay with them throughout their studies and beyond. By including them in your customer acquisition strategy sooner rather than later, you’re engaging tomorrow’s consumers today.
The lifetime value of students
There’s no uniform way to summarise the financial situation of students. Some have a significant disposable income, others are struggling to make ends meet – and many more fall in between these two poles. As Gen Zs, though, this student cohort is financially savvy – and 91% will buy a discounted product over a full-priced one. Offering a discount now can pay off – not just in the moment, but for years to come.
Once students graduate, their earning potential skyrockets, giving them even more spending power as they move through critical milestones. Research from the Federal Reserve Bank of New York shows that the average college graduate earns $30,000 more per year than the average high school graduate – with an average salary of $78,000 per year. For brands, this means that engaging with students now will pay off further down the line.
Step one: awareness generation
At Student Beans, we’ve devised a full suite of solutions to help brands engage with tomorrow’s consumers today. We can help you to make a great first impression on students, and keep them coming back – on average, our brand partners have been able to increase repeat purchases by 21%.
The journey to lifelong loyalty starts with awareness generation. Using our Gen Z-centric media suite, we capture the attention of student consumers at the start of their purchasing journey, convincing them of your brand’s value before they even graduate. Our publisher network will propel your brand in front of a global audience of more than 50 million, attracting new students and re-engaging previous consumers. Wherever and however they choose to shop, we’ll ensure your brand is visible – across social, youth sites, in-app and in-store.
Step two: increase repeat purchases
With us, the journey doesn’t end when students click “buy now”. Student Beans incentivizes Gen Z students to keep coming back, turning one-time shoppers into loyal repeat customers. Our brand partners can tap directly into our global Gen Z ecosystem via our Gen Z media suite.
Our extensive research into the Gen Z demographic has revealed the methods of engagement that have a proven record of success. Using these, we create bespoke campaigns to re-engage verified consumers and encouraging repeat purchases.
Ultimately, though, it comes down to understanding what students really need. We go beyond just increasing sales and revenues – we figure out exactly how students will use your products in the long-term. Our in-house research function gives us the most accurate snapshot of what it means to be a student today – and what it will mean to be a graduate tomorrow. From there, we can match their habits with your values – creating loyalties that last a lifetime.
Turn the next generation into loyal consumers with Student Beans. Contact us today to find out more.
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