Knowing your audience is one of the fundamentals of success in digital marketing – or any marketing, for that matter. And while their reputation may be battered and bruised in the wake of the 1 percent ruckus, marketers consistently and continually want access to one group in particular – affluent males.
A recent study by search marketing agency iProspect reveals some interesting information about this key demographic. According to the research, there are 19 million affluent men on the Web – defined as over the age of 18 with a household income of at least $100,000 – and they are researching, shopping and spending more than ever.
Highlights from iProspect’s “The Affluent Male: What His Online Behavior Can Teach Luxury Brand Marketers” study include:
- 40 percent are shopping online at least twice a week, and those shopping multiple times are spending over $30K annually.
- The vast majority of affluent males (91 percent) access a PC at least once daily while 77 percent have a smartphone and 50 percent have a tablet.
“The old adage that men hate to shop is being upended by the digital experience. Not only are affluent men shopping online more, but this demographic is doing extensive research, shopping and then purchasing online, which provides advertisers with multiple touch points to reach him. Understanding the habits of the high-end consumer allows iProspect to help our clients develop well-integrated digital campaigns that connect with this audience and deliver results," says Robert Murray, global chief executive officer, iProspect.
It is this group’s advertising preferences that are likely of the most interest, however. In terms of visibility, 71 percent of affluent males have seen ads on a PC while just one in three have seen them on mobile phones or tablets. On the whole, however, affluent males are more engaged with search than the general public. In fact, 96 percent used search to learn more about products, so it should come as no surprise that search ads, especially for mobile devices, remain top-of-mind for marketers looking to increase engagement with this audience.
“By all indications, this segment has untapped purchasing power which can and will trickle down to non-luxury brands,” says Murray. “The best digital marketing strategies integrate practices across all channels. For brand managers, knowing how to effectively communicate to affluent men will be a key factor to success in an increasingly digital world.”