How to Hyper Target Affluent Audiences on Facebook
Social media has become a pay-to-play space for businesses, with algorithms giving businesses limited exposure unless they are willing to pay for advertising. Facebook is a prime example of this. Facebook has the ad targeting power to put a company’s brand in front of its desired audience.
However, the power of Facebook ad targeting also allows companies to put their brand in front of a very specific audience. An audience of highly motivated buyers for the company’s products or services. If you aren’t already, you should be advertising on social media.
Becoming a master of Facebook ads advanced targeting will provide you the most value for your money. The plethora of data captured by the social media giant means that Facebook advertising has the targeting options to meet your needs, no matter your desired audience. Finding ways to hyper-target affluent audiences can be challenging, but Facebook makes it possible with the advanced features we will be going over in this article.
So, how do targeted ads on Facebook work?
Before Creating Ad Campaigns
As with any form of marketing or advertising, you need to understand your target audience; their likes, dislikes, demographics, and general persona should be part of your decision-making. If you haven’t already, take the time to create personas for your target audience. Not only will they greatly assist with your Facebook ads, but you’ll also be able to implement them across your business marketing activities.
Facebook ad targeting offers an abundance of options that you can refine to hit the ideal target audience for your business. A business specializing in high-end, luxury, and premium products has higher conversion rates by aiming their advertisement at wealthier individuals. Less affluent people may enjoy window shopping for these products, but they are less likely to purchase.
Targeting an Affluent Audience in the US
The data that Facebook captures for the US market makes targeting wealthy people incredibly easy compared to other countries across the globe. Using ZIP code data, Facebook can estimate the average household income. From this data pool, Facebook then allows its advertisers to choose from four targeting options: the top 5%, 10%, 10 - 25%, and 25 - 50% of ZIP codes.
Targeting Affluent Locations
Whether you’re targeting consumers in the US or other countries, one thing you’ll find universally applicable is the ability to target the more affluent geographical areas. In many countries and cities across the globe, you can obtain data on where wealthier people tend to live and which neighborhoods are less affluent. Using the geotargeting rules you set on Facebook, you’ll be able to drop a pin or type in a location, set a radius around this area, and as long as users have their location permissions set to on, Facebook will present your ads to them.
Target High-Earning Job Titles
When creating or updating a profile, Facebook asks for your job title and the company you work for, creating an option for businesses to target ads based on that information. Using some common sense or a quick Google search of average salaries for particular job titles, you will be able to pick out consumers who fit your target audience.
For example, when targeting affluent individuals, you may want to use job titles such as founder, owner, director, president, lawyer, CEO, or COO. Consideration variations of these and well as others.
Depending on your product or service, there are various demographics that you need to consider about your ideal customer. Age, gender, religion, ethnicity, and level of education are just some key factors you need to consider, especially if you are targeting affluent individuals.
For instance, a travel agency advertising a luxury three-month Caribbean cruise will target a different audience than one promoting a week-long beach vacation. A large proportion of people who will purchase tickets for the cruise will likely be of retirement age. While younger people who are still working would be more likely to go on shorter beach trips.
Layering Demographic Information
The beauty of Facebook ads' advanced targeting options is your ability to be as broad or refined as you like. When creating a campaign, you can use filters targeting millions of users or build an in-depth target that refines down to one person. It’s that versatile. No matter how specific your personas are, you’ll be able to use every aspect of demographic data to form the perfect target group.
The more layers you add, the more successful your campaign is likely to be just as long as you get your audience and ad copy perfected.
Create Multiple Campaigns
You know the more relevant an ad is to you, the more likely you will engage with it and potentially buy the product or service. To make the most of hyper-targeting, you should create multiple campaigns enabling you to empathize with your audience on a personal level. You can create unique campaigns for different job titles or levels of affluence. By adding this extra level of relevance, you can talk directly to the people seeing your ads.
Use all the tools Facebook offers, familiarize yourself with the filters available, build multiple target groups, create tailored ads, and analyze your success. Once you know how to use target advertising on Facebook, you’ll be on your way to getting your product in front of those most likely to purchase your products or use your services.
Targeting your audience with Facebook ads can be incredibly effective if you know your audience. Facebook has an astronomical number of options to help you get your business in front of your target mark. It can be overwhelming for those who have never used Facebook ads before. We suggest reaching out to our Las Vegas digital marketing agency to help you on your way.