How to Target Wealthy Individuals with Facebook Ads

For most Digital Marketing Professionals, targeting wealthy individuals and the right audience with Facebook Ads has been one of the most challenging aspects of their job.

Conventionally, Facebook users are considered to be the most solvent audience among other social networks. 

They are older and have a higher income level, as well as the amount of an average purchase check carried out online.

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Certainly, there are some cases where it’s necessary to advertise on Facebook the products and services that have value on top of the type or the premium services that not everybody will be able to afford.

Facebook Ads Funnel
Facebook Ads Funnel
And then the issue of finding the right audience is thrown into sharp relief.

These Facebook ad targeting options in this article also apply if you are looking for how to right target audiences on Instagram ads. 

You might also want to check out:

 

How Does Facebook ad Targeting Work

Facebook ad targeting allows you to target your audience based on their interests, behavior, and demographics.

The process is relatively simple and requires minimal effort from you. You don’t have to be a marketing expert to use Facebook ads, but it’s a good idea to know how the Facebook ad works.

In order to get started, you first need to create an account with Facebook. After creating your account, you can choose to either create a new campaign or use an existing one.

Once you’ve created your campaign and selected the Facebook ad objective, you’ll be able to start creating your ads.

You can decide whether you want to run it for a specific audience or target all of Facebook’s audience (not recommended).

With the Facebook ad, you can select a country, age group, gender, or language. If you decide to target a specific audience, you can choose from a number of different Facebook ad targeting options.

 

How to Target Wealthy Individuals with Facebook Ads

In this article, we will consider different social media marketing strategies on how to create Facebook ads to target wealthy clients, the right audience and customers on Facebook in the Facebook Ads Manager, as well as the criteria of solvency for each of the ways.




The following are how to target high-income individuals with Facebook ads:

  1. High-end device users
  2. Frequent international travellers
  3. Small business owners
  4. Office workers of class «A» business centres
  5. Residents of housing communities
  6. Online — buyers
  7. Engaged shoppers
  8. Luxuries fans
  9. Restaurants lovers

Read: How to Fix Disabled Facebook Ad Account Really Fast

Notes:

1.  Again, all the mentioned below are equally applicable conjointly to Instagram users because the setting of the advertising platform for Instagram is meted out within the Facebook Ads Manager.
2. The reach totals for every thought-about methodology square measured are shown on the foundation of the Facebook Ads Manager automatic placements.
Also, figures will vary if you specify solely Facebook or solely Instagram, etc. as the placement.




Facebook Ad Targeting Interest: High-End Device Users

Facebook can hatch which device (computer, phone or high-end tablet) and of which brand (Apple, Samsung, Techno, etc.) a user login into a social network.

In such a simplest way, we have got a chance to reach owners of devices of a specific brand as we are mostly interested in the owners of Apple phones per campaign objective. 

Perhaps, targeting iPhone users on Facebook is the most popular solvent audience finding. Everything is straightforward: if someone has an iPhone it means that he has funds.

Hence, a good method to target wealthy clients on Facebook.




And, it must be confessed, that such an attitude is working also in other countries (for example, through targeting iPhone owners after many unsuccessful efforts I managed to get first sales promoting cosmetics for ladies with a cost above the average in the United States).

See Also: How to Use Facebook Marketplace to Increase Sales (Beginner’s Guide)

Disadvantages of Targeting High-End Device Users on Facebook

Every advantage comes with a disadvantage. And targeting iPhone users on Facebook are not different.

Because this setting on the solvent audience has such popularity, the final price of a click at the advertisement is much higher than the average.

In other words, this kind of targeting is overheated as competition is high.




Also, you should note that not every iPhone users are a big spender. An iPhone can be purchased on credit as an indicator of status or prestige.

As an add-on, while targeting, try to also focus on the owners of recent and penultimate phone models. As a rule, it gives good results.

 

How Target High-End Device Users on Facebook

Let’s review options available in the Facebook solvent audience of New York residents of both gender and owners of the recent iPhone models.

In the targeting settings we choose «Behavior — Mobile device user — All the mobile devices of this brand — Apple», and then we should choose the iPhone models the users of which we are interested.

At the moment of writing this guide the most recent iPhone model are:

  • iPhone 13 Pro Max
  • iPhone 13 Pro
  • And iPhone 13

Furthermore, in the geo-targeting section, we select New York.

We set a lower age gate on 25 years old, as people younger than this age have significantly lower purchasing power.

Higher Facebook age-gate do not limit. We will indicate them as residents.

Note that setting a Facebook lower age gate of 13 might be a fruitless effort because your ads will be served to audiences who are not able to make a purchase decision.

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Based on the targeting, we get the solvent audience of New York residents with an estimated potential reach of 1 400 000 people.

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Read: Top Digital Marketing Skills to Aquire as a Digital Marketer

 

Facebook Ad Targeting Interest: Frequent International Travellers

Why are interested in frequent international travellers? That is right! This is a powerful criterion of solvency. Perhaps, if a person frequently travels abroad, that implies that he can afford it.




Facebook always tracks its users by analyzing a huge amount of data.

For example, tracking GPS location and IP address from which a user comes online Facebook understands that if this data is the same within 2 weeks in the evenings this location is a house of this particular user.

Also, the mechanism of frequent international travellers detection is working.

If a user has gone abroad several times for the recent half a year (following the data of GPS and IP addresses from which he entered Facebook), in this case, this individual is accorded the status of a person who regularly travels abroad.

See Also: How to Contact Facebook Support to Fix Account Issues

How to Target Frequent International Travellers on Facebook

Let’s review the number of all the Facebook users in Warsaw older than 25 years old who have been abroad for recent half a year.

In the detailed targeting section, we choose «Behavior — Travels — People who regularly travel abroad». Then, in the Facebook ads, specify a city and a lower age gate.

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This results in an audience of Warsaw residents that frequently travel abroad with the potential reach of 190 000 people.

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Read: How to Generate Leads for a Real Estate Agency in Nigeria

 

Facebook Ad Targeting Interest: Small Business Owners

As a rule of thumb, successful businessmen are people with a steady stream of income. There is a huge opportunity in Facebook to target business owners or rich customers on Facebook who owns a small business.

Employing this targeting, we can find those users that pointed out that they are owners of small enterprises or have Facebook pages of small enterprises.




Still, this Facebook ads targeting method has a few downsides because of which the audience that we get will be rather narrow.

1. Not everyone who owns a small business point to Facebook as the fact of ownership.

2. Not everyone who owns a small business has pages of enterprises on Facebook.

However, this kind of Facebook audience targeting has its right to exist and it is obligatory shall be tested.

How to Target Small Business Owners on Facebook

Let’s target all the Berlin residents fr the ages of 25+ years old who highlighted on Facebook that they owned small enterprises.

In the detailed targeting settings, we choose «Behavior — Online actions — Owners of small enterprises».

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This gives an estimated audience of 58 000 people.

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Facebook Ads Targeting: Office Workers of Class «А» Business Centers

Business centres of class «А» differ from business centres of other classes of the high level of the rental rate.

Location, repair quality, and infrastructure allow landlords of these business centres to hold the maximum rental price and those companies that rent premises in such business centres can afford it.




We are interested in targeting workers of the companies that rent offices inexpensive business centres.

Perhaps, the salary level in such companies is above the average.

That is why workers in the offices of class «А» business centres will be considered as a criterion of solvency.

How to Target Office Workers of Class «А» Business Centers on Facebook

In search engines, searching the phrase «class «А» business centres» in “your city” is possible to find websites of real estate agencies that provide offices for rent in such business centres.

On the website of the agencies, you find a list of business centres with addresses.

We take these addresses and deploy them for geotargeting and on a map around the pin that shows the address we outline the radius of 1 km.




As an example, we will find all the office workers of Moscow-City business centres from the age of 25+ years old.

Then, in the detailed targeting settings on a map of Moscow, we will mark with a pin a region with a coverage of 1 km.

In such a way, we can include all the skyscrapers of the Moscow-City business centres into this radius.

Read Also: How to Start a Profitable Ecommerce Business in Nigeria

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This gives an estimated audience of 88 000 people.

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Facebook Ads Targeting: Residents of Housing Communities

The income rate of the housing community residents is predominantly above the average. Families that live in housing communities own one or more automobiles.

The fact of living in a housing community is almost the absolute criterion of solvency.




How to Target Residents of Housing Communities on Facebook

Firstly, identify the address of housing communities and districts with private houses near your geographical location.

If necessary, we can also sort out housing communities by the class of residence to enable us to deploy audience segmentation with the targeted audience per the income level:

Elite-class — executives of huge companies, top-manages of enterprises, owners of the business;

Business-class — business unit supervisors, private entrepreneurs (owners of medium-sized businesses).

Economy class — middle-rank managers, highly qualified specialists.

Therefore, we take the necessary addresses of housing communities and use them for geotargeting putting pins on a map and outlining the required radius depending on the area of the communities.

As an example, let’s find the residents of the housing communities near Moscow

In the detailed targeting settings, we will input pins on a map and choose the required radius of the territories. We have got such a result, but if required, you can expand the area of coverage.

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Let’s set the minimum age target to 25 years old. It is important to point in targeting that we target residents (or as Facebook calls them «living in this place»). The result of the solvent audience we get is 27 000 people.

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Read: 12 Biggest Facebook Ads Mistakes To Avoid

 

Facebook Ad Targeting Interest: Online Buyers

One more criterion of solvency linked with purchases — is the unique interest of a user in online shopping.

Facebook determines the user’s interest in online shopping through certain actions such as likes to advertisements or internet-shops pages on Facebook.

These could be products or services. 




How to Target Online Buyers on Facebook

As an example, let’s review available in the Facebook solvent audience of Paris inhabitants (females) older than 25 years old who are fitness enthusiasts and are interested in online shopping

In the detailed targeting settings, we choose «Interests — Shopping and fashion — Shopping — Online shopping».

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Set a lower age gate of 25 years old, narrow the audience with the help of the setting «Interests — Fitness and wellness — Physical Fitness» and get the audience of 430 000 people.

Facebook Ad Targeting Option: Engaged Shoppers

Targeting online buyers as highlighted above is amazing and often works very well but all the same, this is a method of passive buyers targeting who just show interest in available offers, but do not carry out desired actions.

How then can we target directly wealthy people with Facebook ads who are ready to make or who are already making some purchases (Facebook ads engaged shoppers)?

That is right, Facebook Audience targeting has a behavioral response which is called involved buyers.




Facebook users who in the last week saw an advertisement for some of the online shops and pressed the call for the action button “Shop now” are Involved Buyers.

They are users that made a purchase, as well as those who went to the online-shop website to study an offer get here.

How to Target Engaged Shoppers on Facebook

Let’s review the available Facebook target audience of involved male buyers from Russia between the ages of 25–34 years old that last week in the advertisement clicked the button “Shop now”.

So, in the detailed targeting settings, we choose «Behaviors — Purchase Behavior — Engaged Shoppers».

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Then set the gender to male, age of 25–34 years old and get the solvent audience result of 270 000 people.

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Facebook Ad Targeting Interest: Luxury Buyers

Luxury is a market segmentation of luxury items and lux-premium services. Consumers of luxury items, beyond all doubt, are buyers with high buying capacity.

Hence, there is an opportunity available to Facebook Advertisers to target the audiences showing interest in the luxury products or services.




How to Target Luxury Buyers on Facebook

Let’s review the available option in the Facebook audience of female buyers from Los Angeles between the age of 35–55 years old that show interest in luxury items.

In the detailed targeting settings, we choose «Interests — Shopping and Fashion — Shopping — Luxury goods».

But remember that these criteria are not behavioral.

The implication is that this kind of targeting includes those users who are interested in the offers of pages that represent luxury brands and those who are subscribed to the pages of such brands.

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Also, set gender to female, age of 35–55 years old, and get the solvent audience estimation of 370 000 people.

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Facebook Ad Targeting Interest: Restaurants Lovers

Marketing research was published a few years ago during the crisis consumers reorient on fast-food.

But when the economy is upgraded, restaurants are visited more often.

We can deploy this strategy on Facebook Advertising to target people who have shown interest in restaurant offers.

And also those that have checked in, or are following their pages.




How to Target Restaurants Lovers on Facebook

There are two(2) segments under this targeting «Restaurants» on Facebook and it is important for us not to mix it up.

The first targeting option that comes to mind could be found in such a way: «Interests — Food and beverage — Restaurants». It includes such subcategories as:

  • Coffee houses
  • Snack-bars
  • Quick meal restaurants
  • Fast food restaurants

From these subcategories above, we could be interested in coffee houses. However,  it is worth focusing directly on restaurants. Neither drinks nor fast food but exactly the restaurants.

Furthermore, to achieve this, in the detailed targeting, we will write in the text field for targeting search the word «Restaurants».

And we will see exactly those with the intent for: «Interests — Additional interests — Restaurants».

Let’s review available in the Facebook audience of restaurant female visitors from Barcelona between the ages of 25–40 years old who do not like fast food.

In the detailed targeting settings, we choose «Interests — Additional interests — Restaurants».

Then we further exclude from the targeted audience fast food lovers: «Interests — Food and beverage — Fast food restaurants».

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Set the age of 25–40 years old and get the solvent audience of 400 000 people.

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Additional Facebook Ads Targeting Option

You can deploy each of these targeting criteria to reach a cold audience at the top of the marketing funnel.

This is a highly effective Facebook targeting strategy for all businesses of all sizes in diverse industries. 

Also, below are other Facebook advertising tactics to target rich people:

 

Custom Audiences

How to create a custom audience on Facebook

Custom Audiences
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Custom audiences are best for retargeting and remarketing existing customers or audiences that have taken certain actions on your brand.

This could be from your social media pages or data from your Facebook pixel.

You can use it to drive potential customers through the consideration stage to conversion.

Also, you can remarket to existing customers similar products that they have purchased before with a custom audience.




Lookalike Audiences

How to create a lookalike audience on Facebook

Lookalike Audiences
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Just as the name, it is a Facebook targeting option that targets audiences that are similar to those that have taken that action that you can most about.

Lookalike audience targeting criteria are highly recommended to reach similar best performing audiences in your marketing funnel.

It is one of the best ways to target new customers on Facebook.

Also, with lookalike audiences, you have higher chances of quality leads at the lowest cost per acquisition.

 

Facebook ad Targeting Tool

There are various Facebook ad targeting tools that can help you scale your campaign. They help you create, optimize and scale Facebook ads creatively and easily.

Below are some of the popular Facebook ad targeting tools to promote ads on Facebook:

  • Facebook Ads Manager Free
  • Madgicx
  • Qwaya
  • SocialPilot
  • Driftrock
  • Revealbot
  • AdStage

These Facebook ad targeting tools can help you easily create Facebook ads using the best targeting options.

 

Facebook Ads Targeting FAQs

 

What is targeting in Facebook ads?

Facebook targeting is the exact market you want to have your ad served to. This targeting option can be by age, gender, location, interest etc.

A certain customized audience can also be deployed such as a lookalike audience and a custom audience.

 

Can I target Facebook groups with ads?

While you can’t have a specific group with Facebook ads at the moment, your ads can be served to the group you own.

You can target Facebook groups with ads at the placement section under the ad set level.

 

With over 2.9 billion monthly active users, Facebook is one of the fastest ways to get your business in front of relevant audiences. The Facebook ad manager and other paid Facebook ad tools to come with great targeting options.

 

 

Final Note

In conclusion, we have considered different marketing strategies how to how to target wealthy people with Facebook ads.

And they include:

  1. Demographics: sex, age, place of living, visiting of definite places in the city.
  2. Behavioral: users of mobile devices of a definite brand, regular abroad travellers, owners of small enterprises, involved buyers.
  3. Interests: luxury items, restaurants lovers, and specific interests that are relevant to us.

Most noteworthy, you can combine these types of targeting to get the solvent audiences following the required criteria.

So, you can deploy custom and lookalike audiences as an advanced targeting option.

Lastly, make the audiences that you find more specialized per the key parameters. Also, exclude inconsequential ones from the solvent. The aim is to get the final coverage more specific and more intended.

If you have any questions about how Primegate Digital’s full-service digital marketing agency can help your business grow with Paid Advertising, please contact us online 



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