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How Your Small Business Can Market to Affluent Consumers

October 16th, 2012 ::

By Karen Axelton                 

Are you trying to market to affluent consumers? Then you’ll want to know what the results of the latest Ipsos MediaCT 2012 Mendelsohn Affluent Survey say about their media consumption habits.

Although tablet and smartphone usage among affluents is growing, one surprising finding was how important print publications continue to remain to affluent (household income of $100K-$249K) and ultra affluents (household income of $250K+). The survey asked consumers about their readership of 150 print publications including 143 magazines and 7 national newspapers. Eighty-two percent of affluents read at least one of the publications in print form; overall, they regularly read an average of 8.2 titles.

Affluent women and ultra affluents are particularly heavy print readers; ultra affluents consume approximately 25 percent more print media than average affluents, reading an average of 10 titles.

Print isn’t the only media source affluent consumers turn to. Magazines were second to television in advertising reach and receptivity. And 60 percent of Affluents listen to radio in an average week, with the average time spent listening increasing by 4 percent, to 10.6 hours weekly, compared to last year.

Of course, affluent interest in mobile devices and digital media is growing, with 26 percent of affluents owning a tablet personally and nearly half (47 percent) having one in the household. More than half (55 percent) own a smartphone, up from 45 percent in 2011.

What are affluent consumers using their mobile devices for? While games, weather and music top the list of downloaded apps, of more relevance to small business owners are social networking apps (used by 45 percent) and magazine apps. Some 4.7 million affluents downloaded a magazine app in 2012, more than double the 2.0 million who did so in 2011, and 5.9 million downloaded a newspaper app, up from 3.6 million last year.

Affluents’ use of the Internet is up 14 percent from last year, to an average of 37.4 hours weekly. The biggest growth areas for Internet use were sites related to social media, entertainment and shopping.

What do these figures mean to you? If you’re seeking to grab affluent consumers’ attention, your marketing message needs to be integrated across many channels. While affluents’ use of the mobile Web is growing, don’t assume that the Internet is now the only place to reach them. Depending on your particular niche of the affluent market, you may want to put just as much or more of your marketing budget into print, radio or cable TV advertising as you do into your online efforts.

Whatever your marketing strategy, make sure all your marketing materials point back to a updated, mobile-friendly website with a clear call to action.

Image by Flickr user ToGa Wanderings (Creative Commons)



The views expressed here are the author's alone and not those of Network Solutions or its partners.

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