As a practice business owner you may want to target the more affluent members of the community. Targeting High Net Worth Individuals using Facebook Ads is one lead generation technique that can help you pull in those high net worth individuals.
Targeting High Net Worth Individuals using Facebook Ads
In the past people have tried to target CEO’s or owners of companies on Facebook but this is problematic in a number of ways.
Firstly people may not update their Facebook profile to reflect their current job title, after all Facebook isn’t a professional platform like LinkedIn.
Also we should consider even if someone has CEO or ‘Director’ as their job title it could just mean that they are running a small business with a small turnover.
That said we should then be turning our attention to how we can target what people do rather than what they say they do!
Targeting Facebook Users By Income
This option does exist in Facebook Ads although many of you may have noticed that this is US only data.
As you can see from the screenshot above household income can only be targeted in the US via ZIP code. This is fantastic if you are targeting the USA, not so good if your target market is outside of the US. So how else can we target wealthy people on Facebook?
By ZIP Code, Postcode or Geo-Targeting
If you have or can obtain a list of the wealthiest Postcodes or ZIP codes this will really help you when targeting the wealthiest people. We can see from the screenshot below that we can target a radius around Kensington Palace where many wealthy and famous homeowners reside.
Note that you should select ‘People living in this location’ you do not want to target people who have recently been in this location. How many people visit these areas to look in awe at the houses? Make sure you exclude them!
To help you on your way here is a list of the top UK and US Postcode / ZIP codes
7 of Britain’s most expensive postcodes
- Kensington Palace, W8
- Knightsbridge, SW7
- Chelsea, SW3
- Notting Hill, W11
- West Brompton, SW10
- Surrey, GU25
- Buckinghamshire, HP9
Here is a more comprehensive UK list – https://www.zoopla.co.uk/property/richlist/
Richest US ZIP Codes
- Kenilworth, Ill. (60043)
- Boca Grande, Fla. (33921)
- Los Angeles (90067)
- Medina, Wash. (98039)
- Harrison, N.Y. (10577)
- New York City (10007)
- Palm Beach, Fla. (33480)
- Palo Alto, Calif. (94301)
- Atherton, Calif. (94027)
Here is a more comprehensive US list – https://www.zipdatamaps.com/top-50-wealthiest-zip-codes-in-the-united-states.php
2. Targeting By Interest
This is where you need to start to box clever. Targeting people who are interested in luxury brands may backfire.
For example I may be interested in Rolex watches (I am not!) but that doesn’t mean I can afford one.
This is where you will need to start to combine multiple interests and exclude the younger age group. Keep your target audience over 21(I usually keep it over 25) as these people are usually either not affluent enough.
For example you could target people who like Louis Vuitton and must also like Maserati. This to an audience in the UK brings it down to 37,000 people from a Facebook population over 37 million (25 to 65+ in the UK).
You can get very creative here, just take time to think about some niche high end brands that genuine wealthy people would be interested in.
3. People Who Prefer High-Value Goods
This is a great targeting feature although unfortunately it is only available in the following countries:
- South Africa
- Saudi Arabia
Don’t ask me why these targeting methods are only available in these countries, maybe something to do with Data Protection Issues. Still if you are targeting these countries it is a great targeting method to use.
4. Facebook Payment Users
We also have the ability to target Facebook Payment Users with a higher than average spend.
If we apply this criteria to a UK audience we bring the targeting down to 8,700 whilst in the states this would be 130,000 people.
5. Business Page Admins
Although business page admins may not be wealthy in themselves (they may not be the business owner) we can use this audience effectively when combining them with other interests or targets.
We can get really granular here for example consider this audience:
People who match:
And must also match:
Behaviours: Business Page admins
And must also match:
Behaviours: Small business owners
And must also match:
Income: Household income: top 10% of ZIP codes (US)
This audience size is 4,100 people. Very niche, likely to be very wealthy. If you are advertising luxury real estate then this could be your target.
6. People Who Shop Online
Not exactly rich people but if you are selling high end goods online this is an excellent way to engage with people who buy online rather than avoiding it!
Again look at combining this with other behaviours to really drill down to your Niche.
Although on its own not a measure of wealth, you can combine this with other interests. For example Facebook Payment Users with a higher than average spend who have a professional degree and are engaged shoppers.
8. Good Old Retargeting
If you have luxury items in your online store are you retargeting users who have looked at the items or even gone as far as adding to cart? You could be missing out on a lot of revenue here.
How To Target High Net Individuals Using Facebook Ads Conclusion
As you have read through this post who have probably realised that you will need to ‘think outside the box’ when it comes to your targeting. By combining Facebook’s targeting options you can really drill down to get the exact targeting you are looking for.
If you need any help and advice with your Facebook advertising then drop me a line and we can see how I will help you to push your marketing forward.