The Drum | How to target ultra high net work people on social media

Ultra High Net Worth Individuals (UHNWIs) use social media differently than the rest of us. Here’s Relevance’s Lily Power showing how to attract the 1%.

Social media is a powerful marketing tool to reach Ultra High Net Worth Individuals (UHNWIs), but it requires a tailored approach and in-depth understanding of this exclusive audience.

This group represents less than 1% of the world’s population and has specific expectations when it comes to digital marketing.

UHNW consumers make heavy use of social media platforms, with 99% using social media and spending nearly 90 minutes a day browsing it. Brands can use these platforms to engage with this audience and build meaningful relationships.

What social media platforms do UHNWIs use?

Each social platform serves a unique purpose and tends to attract different users – including several social platforms used exclusively by the world’s wealthiest.

For example, Best of All Worlds is an invitation-only app that ensures members aren’t “overwhelmed with irrelevant connections.” Rich Kids is a quasi-Instagram that costs $1,000 a month to join.

Yacht brokerage Northrop & Johnson’s UHNW clients are very active on LinkedIn, Instagram and niche investment communities like Wealthfront and AngelList. Almost seven in ten of them regularly use social media, with LinkedIn (36%), YouTube (35%) and Facebook (34%) each mentioned by around a third of respondents.

Here are five tips on how to reach this powerful social media audience.

1. Create a targeted strategy

It takes more than just creating a social media profile and posting content; You must understand the person and their goals to effectively target UHNWIs.

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UHNWIs are often very skeptical of marketing messages and do not respond to traditional marketing tactics. When you reach out to them on social media, focus your efforts on the right channels. Understanding their lifestyle, interests and values ​​is essential to developing content and messaging that resonates with them.

Once you identify the right platforms, create a targeted strategy that focuses on the unique needs and interests of UHNWIs. You are used to receiving tailored offers, so your message needs to stand out.

2. Find out what content resonates with your target group

UHNWIs are looking for content that meets their needs beyond purchasing a product or service. For the world’s wealthiest, luxury is a baseline and nothing is a “dream buy”. Brands can engage them with artful, strikingly beautiful content and create events or experiences tailored to their interests.

This higher quality and tailored content builds trust and helps build lasting relationships while increasing loyalty and increasing the value of engagement. Create a sense of exclusivity through your brand messaging and content to ensure success.

This group is protective and values ​​privacy and security. Instead of being sales-oriented, focus on sharing quality content. Because of their lifestyle, UHNWIs are a common target for various online crimes and intruders. Privacy and security should be at the forefront of your strategy.

3. “Genuine Influencer” Marketing

There’s a fine line between promotion and saturation, especially with ultra-luxury brands. Many luxury brands use “Genuinfluencers” because of their high-quality and authentic content, engaged communities of followers, and actionable insights. This makes genuinfluencers valuable partners for luxury brands looking to reach and interact with UHNWIs.

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Genuine influencers work to build trusting relationships that make them a highly effective brand partnership. UHNWIs refer to people who are similar to them, so they are only influenced by genuine influencers if they are carefully selected. Self-made UHNWIs can refer to self-made genuine influencers, while heirs and heirs can be influenced by people from similar backgrounds.

Running campaigns on a social platform where your audience is most active is essential. The right gene influencer can help you reach UHNWIs and drive engagement if they are similar to your target demographic.

4. Targeted Ads on Social Media

Luxury brands can use social media ads to target UHNWIs based on their interests, demographics, and other factors, as well as target custom audiences and lookalike audiences.

Paid ads on LinkedIn, Facebook, and Twitter have multi-layered and targeted options that brands can use to target UHNWIs based on their demographic information, such as industry, interests, senior job roles, or even income level. There is ample opportunity to connect and build relationships with this exclusive audience by sharing content on existing social media groups and pages.

Start by researching UHNW profiles and identifying their interests, hobbies, and lifestyle. This helps you create ads that are specifically tailored to them. Use language that fits their demographics and include a strong call to action.

use retargeting; It allows you to advertise to users who have already interacted with your brand or had some level of engagement, ensuring higher conversion rates.

These highly educated individuals embody emotional intelligence principles such as trustworthiness and empathy, which is why some platforms may perform better than others. For example, LinkedIn is a great platform for sharing thought leadership and research.

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5. Track campaign success

By keeping track of your efforts, you can understand what’s working and what’s not, and adjust your strategy accordingly. The best way to know if you’re reaching and engaging your audience is by tracking business metrics like leads generated, quality of leads, cost per lead, conversion to sales, and total revenue.