Calling all luxury marketers... According to a recent survey conducted by the Affluence Collaborative, the reason a luxury consumer engages with his or her favorite brand via Social Media is vastly different than those of the general population.
The majority of people like their favorites on Facebook or follow them on Twitter in order to receive discounts and deals. But the luxury consumer, those earning at least $200,000 a year, don't care so much about discounts and deals, they follow their favorite brands for the simple reason they love the brand or have an affinity for it and thus act as brand ambassadors, which of course is truly priceless.
One other interesting note from the above chart is what scored the lowest in terms of reasons why people follow brands and companies via Social Media. Seems being entertained is not that important so go easy on the clever Twitter, Facebook & blog posts, unless of course you also deliver something of valuable, i.e. content.
Another intriguing finding from the survey was the fact that affluents are not using the same Social Media platforms as the general population per se.
Number 1 overall was Facebook, of course but Twitter and LinkedIn are attracting affluent users at almost twice the rate of the general population.
The bottom line in ALL of this is reaching affluent consumers is no different than reaching any other demographic. You need to do your research, find out what appeals to them and where to find them. In the case of affluents, they clearly don't want deals and discounts and offers... they want to engage with the brand itself.
They want real, authentic engagement with the brand so skip the sales pitches when it comes to affluents and Social Media and keep it clean, keep it real and yes... keep it on brand.
Are you a luxury marketer or a marketer in general?
What are your thoughts on all of this?
How do you reach your target audience via Social Media?