Marketers Can Strike it Rich Targeting Affluents
Affluents, those with at least $100,000 in annual income, are quickly becoming a more important demographic for marketers to reach. According to a new study from the Interactive Advertising Bureau, Affluent Consumers in a Digital World, affluents currently make up 21 percent of all U.S. households, spend 3.2 times more than other Americans and possess 70 percent of the U.S. consumer wealth.
The study found that affluents use the internet more than the general population. Affluents spend 26.2 hours online per week, compared to their counterparts’ 21.7 hours. Therefore, affluents recall more ad impressions. Eighty-eight percent of affluents recall being exposed to one or more digital ads during the week versus 84 percent of nonaffluents. What's more, after viewing digital ads affluent consumers are more likely than nonaffluents to be aware of new products (55 percent versus 49 percent), new companies (51 percent versus 49 percent) and new websites (46 percent versus 44 percent).
But recalling an ad isn't a marketer's main goal; it's getting consumers to take action based on the ad. Fifty-nine percent of affluents said they did so within the last six months. Affluents are also more willing to share information, with 32 percent saying they'd share their personal information with marketers if it meant a more personalized online experience; only 23 percent of nonaffluents were willing to do the same.
Other notable findings from the study include the following:
- 72 percent of affluents (versus 61 percent of nonaffluents) agreed with the statement, "Most websites are free because they are supported by advertising"; and
- 57 percent of affluents (versus 51 percent of nonaffluents) said they'd "prefer to see ad-supported online content that's free rather than paying for content that's ad-free."