Why Your Business Must Embrace The Benefits Of Student Discounts
When your goal is to expand the visibility of your brand and drive increased revenue, targeting a student audience is probably one of the last tactics that comes to mind. There’s a stereotype that students are scraping by, studying not spending, and unreliable when they do splash the cash. However, attracting students with the right initiatives like student discounts and other affiliate activities can actually offer a lucrative growth opportunity.
The benefits of student discounts are apparent not only in the immediate sales generated but also in the long-term loyalty these student-focused initiatives foster. Here’s why – and how a carefully thought-out affiliate marketing programme can make it happen.
Students Are Keen Shoppers
Let’s face it, students are enthusiastic consumers. While they might be on tight budgets and supposedly choose noodles over nourishment, fancy dress outfits, sports equipment and technology for studies simply have to be bought. The lack of a big budget also means that the student audience is exceptionally savvy at finding deals so that they can still spend on the items that matter to them.
By positioning your brand appropriately through affiliate channels and tapping into the benefits of student discounts, you can make sure that you are getting in front of students and increasing the likelihood that you are viewed as the go-to choice for their needs. There may be no question when it comes to whether a student wants or needs the product or service you are offering, but students aren’t stupid and will shop around. A suitable discount or incentive could be the final deciding factor when it comes to their actual purchase.
Low Budgets Now, But The Spenders Of The Future
Students also offer enormous potential as lifelong customers. Despite tight finances today, there’s a sense of optimism among the student audience and a hopefulness of a trajectory towards graduate jobs and above-average salaries. In a nutshell, you can expect students to have much greater spending power in the not-too-distant future.
By engaging students now with targeted initiatives and relevant affiliates, you can cultivate brand loyalty that extends into their higher-earning years. Benefits like student discounts not only help them stretch their budgets now but also cement your place in their long-term buying habits. If you’re only willing to engage with them once they’ve got the cash in hand, you’ll likely find that somebody else managed to win their loyalty first.
They Know The Digital World Better Than Anyone
With much of their studies taking place online nowadays, students are adept at navigating online spaces with ease and expertise. This makes them ideal targets for affiliate marketing campaigns – and student discounts are just one of your options. Wider affiliate marketing initiatives such as partnerships with influencers in the right places can be lucrative opportunities and ensure that you are getting your brand in front of a new audience in the right places. Students will expect to find your brand where they already spend their time and probably won’t bother seeking you out if you’re not meeting them there.
Students Shop In Cycles
Deciding to target students is alone not enough; to get the full benefit of being in front of this audience you need to plan your activity carefully and understanding how and when students spend is key to a successful affiliate programme. With student loans arriving at the start of each academic term, their spending power spikes and dips at very specific but predictable times. This means that well-timed affiliate activity – such as a larger discount code in January – can make all of the difference and tap into the desire to spend, spend, spend.
Get In Front Of Students With Our Help
Offering incentives doesn’t just benefit the students themselves; this kind of affiliate marketing activity is also a great business growth tactic. The short-term benefits of student discounts are clear (immediate visibility and revenue), but it’s the lesser-known long-term loyalty up for grabs that’s really lucrative. Capture this audience now and you’ve potentially captured customers for life.
If you’re interested in getting your brand in front of new audiences, Fuel can help. Our affiliate team has years of experience establishing and developing fruitful partnerships with networks targeted at students including Student Beans, UNiDays, TOTUM and Save the Student. Whether you’re entirely new to the affiliate marketing world or want to expand an existing programme, we can help you get in front of students and set up and manage the most appropriate relationships for your brand.
Contact us online or drop me an email at seve@fuel-growth.com to find out more.
