25A What's Next?
What’s Next?
Existing Market
From speaking to customers in my existing market, I have found out many different ways to advertise to the college community. Other businesses whose main target audience are college students send representatives around Sorority and Fraternity row, giving their versions of “elevator pitches” to each organization. I would conduct something along these lines with Greek Life on campus. I would give each sorority and fraternity some sort of a gift, like a cake or cupcakes, just to give them an opportunity to hear about our app. Another interview lead me to the idea of giving out phone pockets, pens, popsockets, etc. Anything small and cheap that can easily have a logo printed on is a great way to get “free” advertising. By handing these out across campus, students will wear them, unaware of how much they are spreading the app’s name. Many interviews discussed the possibility of creating a food tab or bar tab that could only be redeemed by downloading the app. I have seen other apps do this and it's a great way to get people to download your app, as well as getting your app talked about.
New Market
It is easy to advertise to the Greek community because I am apart of it and know the ins and outs of their wants, needs, and when and where is best to reach them. My new market audience are students who are not apart of the Greek community. I think I could use the same concept as before, just hand out promos in areas where other students would be. I could pass out promo products in front of the library, Turlington, or before and after large exams. I have seen other businesses do this as well so I know it would be beneficial and productive. I don’t think any of my future decisions would be expensive, more or less, just something that would cost word-of-mouth.
Your idea for market penetration is amazing. Like, you're completely right. University students LOVE free things, and we carry them around and use them religiously. If you were to get your brand image out and use this as a sort of free advertising, the awareness of your product would skyrocket. I don't know if you should limit your target market just to Greek Life in the beginning - as we all at one point or another use the library. However, your marketing strategies to reach these different segments sound very effective.
ReplyDeleteI love the idea from the existing market regarding the branding push. Placing your logo on different items and giving them out is a great way to get the app's name out there. Especially putting them on practical items that college kids are using daily. People will see them by just being around or passing those that you visited and may just look it up to see what the name is all about.
ReplyDeleteI think the new market pitch is also a great idea. Turlington Plaza has a great mixture of people and you would be able to reach those outside of Greek Life and possibly gain a following from a new demographic. Saving money is always important so these concepts will fair well with possible investors. Knowing that you are attempting to make their money stretch as far as possible.