How to target high income earners with Facebook Ads
Having recently undertaken more work targeting ads towards higher income earners I thought it may be beneficial to share some of the tips and tricks I have discovered to help with this!
Bear in mind that for many of the targeting options below we are relying on people filling out and keeping up to date with their Facebook profiles. You can’t target by job title someone who hasn’t added theirs in!
By location
It’s an obvious truth that some areas (towns, cities and even postcode areas) are wealthier than others. Do your research and even if you have a product you’re willing to sell across the UK, focus initially on more privileged locations. You can start with specific postcodes or opt for broader areas such as central London, Surrey and Kent.
If you’re an established business and you already have data on where your sales/leads come from use this to your advantage. Pick out the most common areas and target these first. You’re better to start smaller and working outwards than starting too broad and wasting spend trying to reign things in.
By interest
Higher-income earners will likely show interest in luxury brands for example; Louis Vuitton, Rolex or Tesla. You can combine interests with excluded interests (see final paragraph) to ensure you’re only targeting to those with genuine purchase interest in the mentioned brands.
By earnings/income (USA only)
If you’re targeting in the USA, you’re lucky enough to be able to target the top 10% of earners.
By education
We’d generally expect higher-income earners to have a better education. You can try targeting people with degrees or those who went to university at the most prestigious colleges such as the University of Cambridge.
Habits and Behaviours
When it comes to targeting higher-income earners on Facebook, it's not just about job titles and industries. Understanding their lifestyle behaviours can also be key to achieving your goals. For example, frequent international travellers or frequent flyers are often associated with high-income earners.
By identifying these types of behaviours, you can use them to create more targeted Facebook ads that are more likely to resonate with this audience. For instance, if you're trying to sell luxury travel packages, targeting frequent international travellers could be a great way to reach potential customers who have the disposable income to indulge in high-end travel experiences.
Think outside of the box and combine one of these behaviours with some of the interests mentioned above for better targeting.
By job title
It's no secret that when it comes to targeting high-income earners on Facebook, it pays to know who you're after. That's why it's worth noting that directors, executives, and CEO's are all great candidates to focus your efforts on.
Why? Well, these professionals typically hold high-level positions within their companies and are responsible for making important decisions. This level of responsibility often comes with a higher salary and greater financial stability.
Here are some job title ideas that are typically associated with higher-income earners in various industries:
Chief Executive Officer (CEO)
Chief Financial Officer (CFO)
Chief Operations Officer (COO)
Chief Marketing Officer (CMO)
Chief Technology Officer (CTO)
Vice President (VP)
Managing Director (MD)
Director of Sales
Director of Marketing
Director of Finance
General Counsel
Attorney at Law
Partner (Law Firm)
Investment Banker
Private Equity Associate
Management Consultant
Software Engineer (Senior Level)
Data Scientist
Product Manager
Marketing Director
We’ll touch more on exclusions below but you do have the option to exclude people with generally lower-income job titles eg “cashier” or “waitress”.
Exclusions
Make use of exclusions to weed out the users you don’t want to be showing your ads to. Some interests, job titles and behaviours you can exclude are:
Those interested in cheap stores (boohoo, Poundland etc)
Those with generally lower-income jobs (waiters, cashiers)
Those interested in cheap holidays, cheap flights etc
You could even try excluding people with an interest in cheaper brands of more general but important products. Think BMW > Fiat and Burberry > New Look.
Combine a number of the above points to create an audience perfect for your product!
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