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Would AMC’s Mad Men favorite Don Draper pay $300 for a 1-inch by 1-inch space
on a graduation cap? Maybe – if he also
had an Old Fashioned and a Lucky Strike cigarette handy during the pitch.
Businesses are always looking for ways
to reach the masses – whether it is ad space on a billboard, television
commercial, Google search or Facebook – if space is available for an ad then it
must be used. When the economy declined,
consumers came up with new ways for businesses to broadcast their products. For instance, people got
tattoos in exchange for discounts at their favorite restaurants. Hungry patrons hoped the business would last
longer than the permanent logo inked on their skin, and some restaurants offered
discounts and even lifetime freebies for the commitment. Another example is the Billboard Family a few
years ago who outfitted their
entire family of five in shirts with logos from companies and were paid
to wear the clothes for the day.
With these inventive promotional tactics
flourishing, it wasn’t long before Alex Benda, a senior at the University of
Michigan, came up with the idea to sell ad space on his graduation cap. Benda reported
to the Detroit Free Press that the going rate to claim a 1-inch by
1-inch space on his hat was $300. At
this price point, Benda figured he could pay off his entire student debt of
$30,000 if he sold all 100 available squares.
The International Business major also offered a personal thank you note
for donations of $10 and shout outs on his YouTube channel among other things
for donations of $100. At the time of
this writing, Benda had raised $5,366.00!
So, is Benda onto something? Is it possible to pay off student debt by
selling ad space? Can this strategy apply
beyond a graduation cap – cars, smartphone covers, profile pictures, laptop
cases, fingernail polish? You never know
until you try! Get creative and don’t
forget to keep it legal!
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