TORRANCE, Calif. — American Honda Finance Corp. has launched two digital campaigns promoting its Honda and Acura College Grad program that targets millennial buyers.
The GradDad campaign from Honda Financial Services and the Look the Part campaign from Acura Financial Services offer recent college graduates $500 toward the finance or lease of a vehicle. To reach the millennial market, AHFC is using an entirely online strategy centered on social media and online influencers.
"Young buyers live online so it's the most effective place to reach them," explains Petar Vucurevic, senior manager, sales and marketing at AHFC. "Our campaign engages grads in a fun and informative way."
GradDad features a fictional, all-knowing father figure serving as the voice of the 2015 Honda College Grad Program. GradDad connects with visitors on the Honda Financial Services Facebook and Twitter profiles where users can ask questions using #AskGradDad.
HFS is also partnering with YouTube celebrities like Ronnie Shalvis, Hunter March and Brittani Louise Taylor to promote the program. Acura’s Look the Part campaign takes a similar tact but moves a step further by marketing to young professionals who want to improve their image with a luxury vehicle.
Look the Part leverages influential fashion and lifestyle blogs such as Style Girlfriend, Scout Sixteen, He Spoke Style, Masculine Style and Men’s Style Pro. It will also make use of YouTube stars in order to educate followers on how they can “graduate to a higher class.”
While college grads may be coming out of school with a large amount of debt, they might not be hindered from taking on or repaying new loans. A recent study challenged the impact of significant student loans on young consumers' ability access and repay auto loans and mortgages. It found that consumers with student debt performed as well or better in some cases when compared to peers without student loans.