Have you ever thought about how many hours of your life you spend on the internet? How about on social media? It’s so ingrained in our lives that we never really stop to think about it. However, it’s important for brands to understand how consumers are using social media in order to effectively market toward them. In today’s blog post, we are going to discuss how, and more specifically, why affluent consumers are using social media.
How often are affluents using social media?
According to GlobalWebIndex, affluent consumers spend more time on social media than the global average, averaging about two and a half hours per day. Of course, this varies across different age groups. We see younger affluent consumers spending more time on social media than their older counterparts, with 16-to-34-year-olds averaging two hours more per day than 55-to-64-year-olds.
Affluent consumers are active members across various types of social media networks. They are more likely than average to have multiple accounts across a variety of media platforms. This includes lifestyle platforms like Instagram and Pinterest, social platforms such as Twitter, and work-related platforms like LinkedIn and Slack. These consumers like to network, so being a part of as many media platforms as possible is important to them. Brands should keep this in mind when deciding on which platforms to place ads. Younger affluent consumers may be best targeted on lifestyle platforms, while older affluents may be best targeted on work-related platforms.
What platforms are affluents using?
To no surprise, Facebook is the largest platform by membership globally. YouTube is close behind, being the only major media service to have more people visiting than those who are a member. Affluent consumers are also users of visual media networks like Instagram and Pinterest. According to the GWI, approximately 70% of affluent consumers use Instagram, and over 33% use Pinterest each month. Knowing that these consumers value social status, brands can utilize these platforms to showcase lifestyles and promote inspiration.
Not only are these networks a way for brands to promote their products, but they also provide a way for brands to engage with consumers one on one. Approximately 25% of affluent consumers have commented on a brand’s post or video clip and clicked on a product tagged by a brand in the last month. These consumers are using social media to discover brands that they may want to purchase from in the future. In fact, one in three affluent consumers who use Instagram has visited a company, brand, or product page in the last month because they saw it on Instagram. Brands should think about utilizing tools such as hashtags, reels, and giveaways on social media to further boost engagement with their followers.
What are affluents posting about?
When social media first emerged, consumers used it to share their personal lives with their followers and to connect with friends and family from different parts of the world. However, we are now seeing a trend toward more purposeful social media usage, with affluent consumers utilizing it to share their opinions and raise awareness of topics important to them. Affluent consumers are 1.4 times as likely as the average to use social media to promote charitable causes and to use it to network for work. We also see it being used as a political platform more so than we did 5 to 10 years ago.
In addition to this, social media plays a large role in the affluent consumer’s purchase journey. Our next blog post will dive deeper into this topic, but it’s important to note here that social media is increasingly becoming a part of how affluent consumers purchase products, with one in three saying that they use social media to research brands and find products to buy.
Here at The Brandon Agency, we specialize in targeting the affluent consumer and are constantly finding new ways to keep up with and understand their behavior. Contact us today if you need help reaching these consumers or are interested in any further insights into them.