College students study brands for social responsibility

College students are wealthier than in previous years, representing $53 billion in discretionary buying power, and there are more of them, which is great news for retailers. But there’s a catch. To pique their interest in your brand you’ll need to exhibit a commitment to being “socially responsible”.

by Helen Leggatt

alloy%20media%20logo.gif Forty-one percent of college students that responded to Alloy Media + Marketing’s 8th Annual College Explorer Survey said they prefer to spend their money with brands they deem to be “socially responsible”. By that they mean brands that donate money to a charity or good cause, use green business practices or ensure fair labor.

It’s interesting to note from the survey that social messages within advertising aren’t lost on college students. Almost half (49%) said that advertising that incorporated social messages did have an effect. Brands such as Yoplait, with its breast cancer awareness campaign, and Target with its caring-sharing approach, are among the top brands as voted for by college students.

“When you align your brand with a cause, you create an emotional bond with those consumers who also are aligned with that cause,” said Lewis Green quoting from his book on the topic, Lead with your Heart. “And by effectively applying cause marketing to your outreach efforts, you increase sales and enhance brand loyalty, while building brand equity.”