I just got an alumni newsletter from Miami of Ohio with two neat things in it. One is school-related ringtones for cell phones. Not that I want one from Miami, but I think that's really neat. I wonder how difficult it would be to offer our alumns Lyco ringtones.
The other was a variation of the historical photo "big game" that I've been mulling over all year. But instead of playing it physically on campus with undergrads running around taking pictures of what things look like now (it'd be a great program, I just don't know if they're that interested), you send it out in the alumni newsletter. Just ask them what it is or where it is, and offer a prize to the first five people who respond with the correct answer. Something school-related like a school t-shirt would be a good, inexpensive prize.
I might ask my director about this, she's been working on engaging alumni with news and materials from our college archives.