• Is a daily deal site specifically for colleges/college students feasible? Sustainable?

  What can a site like this do to set itself apart from other daily deal sites? What features can make a site like this unique to the college market and engage them?
• Jim Moran, Co-founder of Yipit, which aggregates...

  7 votes by Edward Kim, Payam Dastmalchi, Troy Sultan, (more)Edward Kim, Payam Dastmalchi, Troy Sultan, David J Rodriguez, Tom Abbs, Rupert Williams, and Kaushik Merchant

  There are at least four currently, so I would take a hard look at them:
  http://campusdibs.com/
  http://dealquad.com/
  http://www.prnewswire.com/news-r...
  http://ucsd.uloop.com/deal

  • compare and contrast
• It's important to remember that Daily Deal sites aren't viral - you won't launch one on a campus, and like Facebook, see mass adoption quickly. So you will need to think hard about user acquisition.
  
  Some services are partnering with campus newspapers to acquire users. Others are focusing on Facebook. The limitation to a college daily deal service are:
  - you cannot justify as high an average deal price (and thus ARPU) as with other markets
  - the number of merchants targeting students is limited compared to those targeting general city dwellers
  - there is a 25% turnover each year
  
  I'm not saying these challenges can't be surmounted - and I think there is definitely room for a college targeted deal site. It just might not be the most lucrative niche.

  • college web media
• Jeffrey Appelbaum, CEO @ DealQuad

  3 votes by Michael Broukhim, Rupert Williams, and Kaushik Merchant

  One of the key inefficiencies of city based daily deal sites is the lack of deal relevance. We're interested in solving this problem over at DealQuad which ultimately yields benefits on both the business and end user side of the equation. We've seen a huge amount of traction at all of our schools (currently processing deals at University of Michigan, Harvard, University of Washington) in a short period of time - traction we attribute to a model that caters to a highly personalized (demographically, geographically, interests, etc) experience. College students spend $300BB/year - but maintaining deal relevance while scaling a college-focused daily deal business is critical.

  • compare and contrast

  • strategy

2 more annotations...

• Other than the exclusivity factor, the layout and format of CollegeBudget is very similar to other daily deal sites like Groupon and LivingSocial. Everyday users can check the site to find a centerpiece deal along with several other side deals, with each displaying the number of deals that have gone through and the number of offers still available.

   

  In fact, if you took the word “college” out of the website’s name, it might be difficult to discern how CollegeBudget’s demographic is any different than most general deal sites. The promotions offered here for gourmet chocolate, iPhone cases and lingerie could just as easily be offered on Groupon and indeed some, like the chocolate deal from Chocbite, already have been.

  • compare and contrast

• “As full time students, college students are notoriously known for wanting to save money,” Beatus said. “Daily deal websites should target more of their marketing campaign to this population because I believe that their sales will substantially increase.”

  • strategy

• TUN.com is a series of hyper-local websites that connects students to deals, news and events around approximately 200 U.S. college campuses. TUN.com has more than 5,500 merchant participants in the U.S. offering daily deals and discounts that help college students save money.
• TUN.com reaches out to local merchants around college campuses to get the best deals on items college students actually want to save money on. If merchants do not offer current deals good enough for students, TUN.com motivates them to offer an attractive deal. The power of this model is that it provides a perfect fit between students and local merchants, particularly in this economy. Today’s students are always looking for deals while local merchants near campus need to reach students and get them into their establishments.
   
   TUN.com’s CEO, Peter Corrigan, states: “Today there is more of a need for students to save money. Students have serious financial concerns: their parents are less able to help; their job prospects upon graduation are far from good; and their ability to work while at school is hampered by a tight job market. We are here to help them save as much money as they can on items they need or want from local shops around them.”
   
   Students appreciate the competitive atmosphere created by TUN.com between merchants around campuses as they try to attract students to their establishments. Corrigan emphasizes: “We don’t just take the deals. We encourage the merchants to create great deals for our students. If they are not willing to do so, they do not make it onto our site.” Corrigan also distinguishes TUN.com, “Our business model differs from the Groupon-type deal sites in that we provide students with a huge variety of deals each day on goods and services they regularly use. Students also like the convenience of redeeming the deals directly from merchants who are just around the corner from them.”

  • strategy

• CampusBuddy, an online service where college students can access official grade records and reviews about colleges, is launching a new service called CollegeBudget, which aims to bring daily deals and group buying, including food, clothing, textbooks and student loans – and one day in the future, potentially tuition, to campuses across the country. At the public launch over 100 merchants are expected to participate and deals will be in the 50% off range.

   

  CollegeBudget, which is only for college students and requires a “.edu” email address to sign up, has already 600,000 college student members since it launched its private beta in March of this year, claims to have saved college students over $1 million collectively.

   

  CollegeBudget will, on average, be taking a 40% cut from deals it sells but will assist merchants in promoting their deals on the platform through social media marketing campaigns at no cost. Merchants signing up to offer student deals receive a YouTube testimonial video made by a college student, as well as social media blasts to CollegeBudget’s 130,000 plus Facebook fans and 3,000 Twitter followers. Source

  • strategy

• College Deals

   

  These sites specifically target college students and college campuses, so you’re likely to find discounts on your bookstore, local bars, outfitters, and more.

   
   
  1. Whatever: Whatever will help you find sweet deals around campus.
   
  2. eCampusCash: eCampusCash has free local discounts and coupons near your college campus.
   
  3. StudentRate: StudentRate has local and national discounts for students.
   
  4. KegFly: Find amazing deals for students on campus with KegFly.
   
  5. Campus Dibs: Find deals for your school on Campus Dibs.
   
  6. SavvyCampus: SavvyCampus will help you find the best deals from businesses near your school.
   
  7. Agcoupon: Agcoupon has daily deals for Aggie students in College Station.
   
  8. Studeal: Berkeley students can find daily deals on this site.
   
  9. GrubLife: Check out GrubLife to find deals for college students.
   
  10. DailyMav: On DailyMav, you’ll find great deals at UN Omaha.
   
  11. Campus Daily Deals: University of Texas students can save 50-85% off in the campus area.
   
  12. Uloop: Uloop has daily deals for local discounts, plus student powered classifieds.
   
  13. College Town Daily: College Town Daily has huge discounts on local restaurants, events, and more.
   
  14. Fat Campus: Fat Campus will help you find deals on games, clothes, posters, guides, and more.
   
  15. Campus Special: Find food coupons and more on Campus Special.

• Student Deals delivers weekly deals that save students money on what they buy most, not what they need least

   

     

             

  BOSTON, Aug. 18, 2011 /PRNewswire/ -- SimpleTuition, Inc., the leading provider of tips, advice and interactive tools that help students save on college-related expenses, serving more than 20% of college students in 2010, today announced the launch of Student Deals which offers discounts on the products and services students need to survive.

   

  "The explosion of daily deal sites in the last two years has saved money for many people, but for college students many of these deals -- from skydiving to high-end restaurants and spas -- are frivolous purchases and beyond what they can afford," said Kevin Walker, SimpleTuition's co-founder and CEO.  "SimpleTuition will offer deals at price points that are in line with a college student's budget and provide discounts on the things they need most, the products and services they're paying for already."  

  • strategy

• Most college students budget for the big ticket items, such as tuition and computers.  However, the smaller unexpected expenses throughout the semester (higher costs of textbooks, dorm furnishings, travel, etc.) add up and often catch students off-guard.  For many, this means asking parents for more money or taking out additional student loans to carry them through the semester.  

   

  "With more students taking on debt each year, every dollar saved is one that doesn't have to be borrowed," continued Walker.  "Student debt is a monumental problem in this country -- in 2010 it surpassed credit card debt for the first time.  The last thing we need is for students to spend their limited budget on teeth whitening or spa getaways.  For SimpleTuition, this is less about chasing the daily deals wave and more about leveraging that model as another way to help students save."

  • strategy

• This is great for you because so many people have so much going on everyday that they need more reminders that you are there. Now, there is one audience that is tailor made for digital marketing, generation Y. That is to say teens and college students. Gone are the days when no one had to work while they were in school.

   

  Many teens and even more college students hold part-time jobs throughout the year. This is an age group that has a lot of dispensable income and we are glued to our phones, laptops, and televisions! If you are located in a college town, and are trying to delve deeper into the college market, technology is definitely the best way to do it.

   

  One of the most popular methods of marketing on campuses right now are daily deals. Students are always trying to buy more with the money they have. Daily deals websites are a way to encourage students who may not be familiar with the area around campus or who would otherwise have never heard of your local business to come out and try it.

• Many colleges have daily or weekly deal websites that are geared specifically towards students. This allows your small business to target that market directly, rather than casting a wider net with Groupon or Living Social. So, in your quest to catch college student’s attention, it is important to post interesting comments on your social networking profiles often and look into daily deals websites to expand your reach.

   

  Are you using daily deals?

  • strategy

• Now, timed to coincide with what’s the first week of college for many students, Groupon knocks nearly 60% off tuition for a graduate course at a Chicago-area university.

   

  Groupon began offering the first-time-ever special tuition deal yesterday. Normally, the three-credit graduate course Intro to the Profession and Craft of Teaching runs $2,232 at the Chicago campus of National Louis University. Sign up for the course through Groupon, though, and the course costs just $950.

• “Groupon has no earnings because it’s spending richly to attract customers, resulting in sizable losses at the moment.”  Part of that spending may be in trying to attract colleges, and thus more college students, to the daily deals.

   

  Groupon Courting Colleges and College Students
   For the first time, Groupon is offering a very sizable discount on a course at the National-Louis University in Chicago, where Groupon is headquartered.  While Groupon is famous for its discounts, a 60% tuition reduction “coupon” would be a first.
   The course being offered at the discount is called Introduction to Teaching; it is a graduate level course.  The normal tuition is $2232 for the 3-hour credit class.  With the Groupon discount, the price will drop to $950.

• Graduate students are always looking for ways to save money, and the educational discount coupon may be a great marketing tool for the increasingly competitive college market.  With the economy still stagnant, more people are looking for ways to improve their educational outlook and employment chances, and colleges and universities are working hard to garner tuition dollars.  Offering discounts as an incentive may be a great way to get students in the door.

   

  Tuition Discount Coupons Coming Soon to a University Near You?
   The question is; will other colleges and universities jump on the bandwagon as a way to increase enrollment? It may be possible that other daily discount deal companies like Living Social or Amazon’s Daily Deal may follow Groupon’s lead and try to court larger public universities or other, newer learning platforms like online colleges, to garner more followers.  The success of Groupon’s first tuition discount may foretell the future for other colleges and daily deal providers.  The Groupon discount will be available beginning September 13, and if enough people sign up, there may be more to follow.

  • compare and contrast

• The demographic profile for today's college students has changed significantly over the past few years. College students are typically in their mid twenties and work part time jobs.
• Today more students are in their mid-twenties and work part time jobs. This creates a larger amount of disposable income for college students and the stereotypical, starving student, doesn't apply like it did a few years ago. With this in mind, did the spending habits of college students change over the years as well?

• Money on Food Expenses

  Although ramen noodles aren't a staple in the average college student's diet, college student spending habits still focus on food. Over 11 billion dollars was spent on snacks and beverages last year alone. Even though many colleges have meal plans that provide inexpensive meals for students, a great portion of their spending dollars still goes towards eating out. Students today spend over one hundred dollars a month on coffee alone.

• Technology is a Staple

  Next to food, college students spend a great deal of money on high tech gadgets and devices. Over 90 percent of college students have a desktop or laptop computer. Of this 90 percent, 65 percent have broadband internet connections. This, along with television, cable, cellular phones and their plans, iPods and other gadgets absorb a significant amount of a college student's disposable income. A common problem that arises from spending on technology is found when students continue upgrading to the latest and greatest technologies. Having the latest mobile devices, apps and music not only costs money up front but leads to additional spending. Spending additional money for music, and applications for new devices can put further demands on a college students already limited budget. Other influential devices coming into the market are the Ipads, kindles and other mobile computing devices that may soon replace those laptops and desktop computers.

• ntertainment Expenses

  The next expenses, waiting in line for the college student's money, are the entertainment markets. Over three billion dollars is spent annually on entertainment such as movies, DVD's, music and video games. Over six hundred million dollars every year is spent on theater tickets alone, another six hundred million on purchasing DVD's, while another three hundred million went to renting DVD movies. That's over thirty million DVD's purchased, by college students every year. Another expense that falls into the entertainment category is the money spent on alcohol. The average college student spends over fifty dollars a month on beer alone. Annually, liquor sales to college students are over five billion dollars. That's over a billion dollars more than what college students spend on personal care alone. Add another five billion a year for clothes and we have over 17 billion dollars being spent every year on entertainment, alcohol, and personal care alone. (A Look at the Spending Habits of College Students - StateUniversity.com; Gayla Martindale)

• Where Does All the Money Come From?

  Along with the demographics and college student spending habits changing, so are some of the mind-sets of today's students. Many college students work part time jobs, or work during their summers, and receive money from their parents for tuition and spending. With college loans, grants and financing becoming easier to receive, and more plentiful, this adds to the total dollars of non-discretionary funding for college students. Another thought process is that more and more college students are going part time and taking five to seven years to complete their education instead of the traditional 4 years.

  Although some college students have credit cards this trend has changed recently due to changes in the requirements to obtain a credit card. A new law states that in order to obtain a credit card an adult must be 21 or older. If not over 21, a co-signer is required. Credit card companies are also running tests to ensure the ability of students to pay back the balances of credit cards. This can change the credit status of this demographic significantly. This may also have an impact on the spending habits statistics in the coming years.

  There is no question how large the college student portion of the economy is. College students represent over sixty billion dollars of spending capitol every year. (College Student Spending Behavior; O'donnel and Associates LLC.)

  • DATA

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