The 19 million plus millennial college-students in the U.S. are of critical interest to marketers; it is a large subset of consumers that already deploys considerable spending power and will be poised to out earn and outspend non-college Millennials for decades to come.
A study by Student Monitor examined college students’ media preferences for learning about products and services and found peer opinion to be more influential than advertising. At 48 percent, word-of-mouth was the preferred method just ahead of ads on the internet (39 percent) and ads on television (31 percent). At 21 percent, email messaging had a significant constituency despite the popular notion that young people regard email as hopelessly old-fashioned. Free samples distributed on campus or free-gift-with-purchase both came in at 16 percent; ads in campus or national newspapers, printed catalogs and information on a company’s Facebook page came in at a low 8 percent.