Financial marketers target college students via SMS

Yikes – those darn marketers have my two college-age sons squarely in their sights! This MarketingSherpa article gave me considerable pause…

How Text Messaging Helps Financial Services Marketer Target College Students

“SUMMARY: If you want college students to think about life issues as mundane as financial services, well, you’re obviously going to have to speak to them in their language: text messaging.  

“Step #1. Collect names, email addresses and cell phone numbers

“Step #2. Send credit-card bill reminder to cell phones

“Step #3. Send credit-education newsletters to email addresses

“Step #4. Wait for students to come to the site…”

THE RESULTS

“…They have signed up 500,000 subscribers for their free SMS reminder service. 50% are converting to registered users […] and the unsubscribe rate is just under 6%.”

With stats like these, we’re definitely going to be seeing more mobile marketing. Read the entire article at MarketingSherpa [membership or access fee required]