How to Target Low Income Families on Facebook
Targeting the correct audience is crucial to having a profitable Facebook advertisement entrada. There are mostly 2 benefits of targeting the right audience:
- Better conversion rate – Targeting a relevant audience that is likely to exist interested in your production or service volition help to improve the conversion rate of your ads. This ways less of your advertisement budget is being put towards users who are not going to purchase your product or service.
- Better appointment rate – By targeting the right audition who are more probable to be interested in your advertizement, you're likely to get a meliorate engagement rate. A higher engagement rate volition assistance to bring downward your click prices. This ways you tin can buy more traffic for your budget.
Before setting up any Facebook campaign, y'all need to empathise your customers, their likes, dislikes and full general persona. When you accept this data, you lot can friction match these up with the targeting options available to you in the Facebook ads manager. A specialist PPC bureau or PPC consultant should exist able to assist with this.
Once y'all know your target market's persona, the side by side step is to await at the plethora of targeting options on Facebook in order to create the right audience for your campaign. Businesses selling up-market place or premium-priced products would expect to see poorer conversion rates from users who are less affluent. Therefore, information technology may be more assisting for them to endeavor to get their ads in front of a wealthier audience. If you're trying to go your products in front of a wealthier audition, so your options will vary depending on whether yous're trying to target people based in the U.s. or outside of the US.
How to target wealthy people in the US
Targeting flush users in the US is a little simpler than targeting wealthy users in other countries. Facebook allows advertisers to target people based on the average household income of their zero lawmaking. There are four income levels that you can target:
- Top 5% of Naught codes
- Acme ten% of Zero codes
- Top 10% – 25% of Nix codes
- Top 25% – fifty% of Nil codes
One matter to bear in mind is that the above income targeting options are non available for housing, employment and credit ads.
How to target wealthy people exterior the US
If you're trying to target people based outside of the U.s.a., your only option is to try to target the persona of a wealthy person. When you lot're building your audience, you should be aware that not everybody in the list that yous target will fall into the 'wealthy' category. Nonetheless, the key is to create a list where you're probable to find a lot of wealthy people in. For example, not everyone who owns the latest and almost expensive telephone is likely to be wealthy, simply wealthy people are very unlikely to own a cheap phone. You could, therefore, choose to layer on top of your audience list, people who own an expensive phone.
Make certain you lot layer audiences lists on peak of each other to better your targeting. When creating your audience list, Facebook allows you to target anyone who falls into whatever of the audience lists that you choose. Y'all tin also tell Facebook to show ads to anyone who falls within two dissimilar audience lists
Here are five suggestions of targeting options that yous could try in order to target wealthy people who are probable to be interested in your products.
i. Lookalike audience of your converters
One of the easiest options is to create a lookalike audience of your previous website converters and allow Facebook's algorithms do all the heavy lifting for you. Facebook volition await at the persona of the people who have converted on your website and volition try to target people similar to them. Facebook has a wealth of data on its users, and I ofttimes find that using a lookalike targeting strategy works well.
Note that this strategy will only work if your website currently gets traffic from wealthy people.
I would recommend that you start past creating a ane% lookalike audition equally this will tell Facebook to target an audience that it thinks is only 1% different from your past converters. The general advice given is that if the one% lookalike audience performs well, then you can scale your advertizement budget by targeting a 2% lookalike audience and so further expand.
1 issue to be aware of with creating lookalike audiences is that they generally perform improve when they have more than information to work off. So, if you don't have a lot of conversion data, then the performance of your lookalike audience may exist poor. This is considering Facebook'due south algorithms won't have a lot of data to build a lookalike audition effectually.
two. Target affluent job titles
If someone has a job that pays very well, so they're likely to be wealthy. For instance, a telephone call middle representative or taxi driver is not expected to be very wealthy. However, the CEO of a company or a business possessor is more likely to be wealthy. Therefore, think about the job titles that pay well and target them. For example, you could choose to target people with the task title of 'Small Business Owner' or 'Possessor and Founder'.
To target by Job title, when creating your targeting options, click on Demographics, Work, Job Titles and then input the job title that yous want to target. If Facebook has a particular job title in its system, and so information technology will appear, and y'all will be able to target it.
One of the problems that yous will come across with this method is that in that location are many job titles that Facebook just doesn't have in its targeting criteria.
As well, Facebook'due south chore title search pick can exist quite picky with the words that yous search for. For example, one of the job titles that it allows you to target is Possessor and Founder. However, if you search for Owner, Facebook doesn't discover any task titles. If you search for Founder, then it does find the Possessor and Founder job title.
3. Target affluent locations
At that place are certain locations inside the Britain, where people tend to be richer and more than affluent. If you can find locations where the wealthier people alive, so you tin target only those locations. To do this, yous will need to exercise some research to find the most affluent areas.
Every bit a starting point, if you're looking to target people in the UK, then you may choose to target London as it contains a good number of millionaires. Manchester, Edinburgh and Birmingham are besides wealthy cities that you could target. Windsor is known to be the wealthiest town in the U.k..
4. Frequent international travellers
Everybody wants to go on a vacation abroad. Often, we just don't take the finances for information technology. A wealthy person is more likely to be able to afford to travel overseas frequently. A less wealthy person may be able to travel away, but if someone travels away regularly, then there is a expert chance that they are doing quite well financially.
Luckily Facebook has an audience list to target people who frequently travel internationally. When creating your Facebook targeting criteria, under the detailed targeting option, search for and select 'Frequent International Travelers'. It can also be found by looking in the Travel subcategory which is under the Behaviours category.
five. Exclude the persona of non-rich people
Finally, a skilful strategy that I similar to layer on top of any audition personas I target is to add in audience lists to block out. If you lot're trying to target wealthy people, and so remember about the persona of the people who are the verbal reverse of them and exclude them. It tin can be challenging to build a list that will only target wealthy people. However, with this method, you can accept steps to reduce the number of not as wealthy people that become served your advertizing. Think near the targeting options you have available to you and friction match them up with the full general persona of people who are likely to be poor.
For example, very wealthy people are not probable to live in a rented dwelling, own an quondam model mobile telephone or exist living with a flatmate. You can, therefore, block these audiences out so that Facebook doesn't show them your ads.
A skillful place to showtime is to take each of the previous targeting suggestions to target affluent people and use them to poorer people. For example, someone who works as a call centre representative, loan advisor or a taxi service employee is nearly probable non going to exist affluent plenty for you to target. You can choose to exclude these people from your advertising campaign. Similarly, a wealthy person is not likely to own a cheap phone. So, you can block out people who own phones that are quite cheap to purchase or sometime.
Hither are some areas that you could look at when thinking of personas to block out:
- Aged under 21
- Academy students
- Living with flatmates
- In rented homes
- Owns an erstwhile model or cheap mobile phone
- Low paid task titles
- Interested in stores marketed towards less affluent people (east.thou. Dwelling house Bargains, Primark, Aldi etc.)
Wrapping upwards
Targeting a wealthy audience can exist tricky equally information technology requires thinking of the kind of behaviours, interests and personas that would fit in with wealthy people. When creating your listing, yous're inevitably going to end up targeting people who aren't wealthy. Notwithstanding, your focus should exist on playing the numbers game; you're trying to create a listing where the bulk is of wealthy people and so you can take steps to exclude the personas of less affluent people.
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Source: https://pepper.agency/blog/how-to-target-wealthy-facebook-users/
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