The affluent market has unique characteristics that permeate every interaction they have with your brand. If you are attempting to connect with them on an emotional level, there are some simple facts that you will want to know about them.
They aren’t where you think they are
While affluents may shop at high end brick and mortar stores, they are less picky when it comes to online shopping destinations. 62% of them are happy to shop at Amazon, according to the Shullman Research Center. When they do interact with a brand’s proprietary website, they want the site to replicate some of the feel of the brick and mortar experience. This is the perfect time to explore website personalization, as well as a targeted drip campaign to nurture your contact.
Affluents are 8% less likely to watch broadcast TV and 25% less likely to watch cable TV than their less-affluent counterparts. As you distribute your marketing budget, you will want to distribute funding to the appropriate marketing channel. Where are the affluents? They are coming to websites on mobile devices (59% according to PM Digital). They get to luxury brand sites through the Amazon portal (PM Digital). And social media is high on their radar. Last year Prada saw a 466% increase in twitter followers (PM Digital).
More facts that are relevant to affluent marketers
Travel is a key feature of the affluent lifestyle. People who earn more than $250,000 per year take an average of 6.2 leisure trips, while those who earn between $125,000 and $249,000 take 4.7 trips per year. [MMGY Global] And 25% of them own two or more homes, which also keeps them mobile a good share of the time. This means the online connections they form may be among their most frequent associations, giving marketers the opportunity to become deeply entrenched in their brand loyalties.
According to the American Express Platinum Luxury Survey, the spending habits of the affluent include a few interesting statistics as well.
- They spend more than $4000 annually on alcohol
- 45% of affluent GenX-ers want luxury assistance with services such as concierge aid, travel agents etc.
- 83% of affluent shoppers say they bought their last luxury item when it was on sale and this is very or somewhat important to their decision to buy.
- They spend more than $6000 annually on fashion accessories.
- They spend more than $3000 annually on fragrance and beauty products
Entice the affluent to come to you
The bottom line of these statistics tells us that like the rest of us, the affluent are adept at finding their information online and pursuing services and items that solve problems or make their lives easier. With the right kind of content you can be a brand they connect to and turn to as a trusted source of advice. That’s the beauty of the inbound methodology — you can offer the personalized experience your consumer wants — on-demand and customized to their preferences. In the process, you will extend the reach of your marketing team, decrease the cost of your b2b and b2c lead generation, and win loyal clientele.
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