There are several brands out there that have started offering students, whether it be high school students on undergrads, student discount cards. This strategy, although not as commonly used, has more advantages than meets the eye. Take Apple for example, the fortune 500 company that within a few years only, managed to replace Dell as the leading choice for laptops bought by teens. What makes this fun fact even more fun is that Apple managed to pull this takeover off in the midst of the Great Recession with a surprisingly higher-priced product!
The real question is, how did Apple reach college students at a higher scale than Dell?
Several analysts looked over the internet to figure out how Apple became the name that it is today. While some figured that it was because of product differences and smart branding, others went for a more risky approach and came to the conclusion that it was because of the smart student discount program Apple offered to college students. This helped them gain market share with an audience known as a “hard-to-reach” one. In a couple of years, Apple managed to reach college students easily and gained their loyalty for as long as they are using the device.
Let’s talk a bit more about how offering student discounts like currys student discount is something every brand should look towards working on sooner rather than later.
Students Discounts Are Important:
Many organizations started measuring student brand loyalty in 2012. In one of their more recent studies, they found out that over 97% of the students who had a student discount for a specific business, would indeed try them out. And over 75% of these students would feel loyal to that specific business even after graduation if they were provided a discount when they were in their glory days in college.
Several multinational brands, like J.Crew, Spotify and Apple also offer student discounts which have helped them grow their business with an audience that already has too many distractions. Gaining a loyal customer from a young age is exactly what many up-and-coming brands should look towards doing. The concept isn’t that hard to grab. The simplest way to reach college students, and get brand loyalty in return is to offer a student discount.
A Way For Brands To Give Back
College life isn’t easy. It’s not a hidden fact that college students need all the help they can get to get through their graduation. The debt many students in the United States are in is unbelievable. In a recent study, it showed that college students all over the U.S. combined were over $1.6 trillion in debt. After further surveys, it was shown that each college student borrows almost $30,000 collectively throughout their college life. This is where brands can help. By offering a student discount, even if it is a relatively small one. This can help them build a community behind their brand, which aspires to loyalty.
Student discounts are a necessity to have. Not only for students, but for businesses as well.