Creating content is only half of the battle brands face every day. The other half is distributing their content to the right channels and ensuring that the target audience see them. This is why businesses dedicate entire teams and allocate budgets for creating effective media buying & planning strategies.
Media planning & buying is a complicated process and the one type of business that struggles the most is luxury brands. Luxury businesses like High-end Jewellery, Sports Cars, and Boutique designers have a unique but enviable problem in their hands. Their customers have a lot of money which they’re willing to spend but at the same time. Unfortunately, these customers are also very hard to reach.
Back when Facebook started offering sponsored ads to marketers, luxury brands enjoyed a cost-effective way to reach their customers. The early version of Facebook ads allowed advertisers to directly target audiences based on their income. However, once GDPR came into effect, advertisers were no longer allowed to target ads to people based on their income.
How to find the target audience for your luxury product:
The post-GDPR landscape was daunting for most businesses but most marketers still believe in Facebook’s capability to find the right audience. The rules might have changed but the game still remains the same.
Here’s what brands do find and target the right audience on Facebook:
- Target High-Income neighborhoods
- Create custom & lookalike audiences from your existing Email list
- Find the right interests for your target audience
- Only show ads to people with High-end Devices
- Target High Earning Jobs
- Find and target people who have a special occasion coming up
Target High-Income neighborhoods
Content distribution requires just as much creativity as content creation. Start by asking the right questions like where do your customers live?
Targeting customers based on where they live is as old as marketing itself. Find out the richer neighborhoods in your city to find an audience that could be open to buying luxury products.
Additionally, you can add downtowns, business districts, and shopping centers where luxury buyers can congregate for work, school, or entertainment.
Create custom & lookalike audiences from your existing Email list
Do you have an email list of existing customers? You can use an existing list to create a lookalike audience on Facebook.
If you have been collecting Emails from your customers, then you are in luck. Facebook allows you to target your existing customers by using their email address. Create a custom audience with your email list and start publishing ads to existing customers.
And down the road when you need to get new customers as well, this email list can also be used to create a lookalike audience.
What is a lookalike a target audience?
The lookalike audience is a feature Facebook offers its advertisers to find people who are similar to your existing audience. And this can be a very effective way to find new audiences because Facebook’s algorithms are built to find people with similar interests, socio-economic backgrounds, and purchase behaviors as your customers.
All you need to do is feed Facebook’s audience creator with an existing list of customer Emails and you are set with a new group of potential customers.
Find the right interests for your target audience
Good marketing campaigns start with knowing your customer’s interests. Great ones know what interests make them different from others. A common mistake most Brands make when distributing content is that they make their ad placements too broad.
For example, if you want to target a working professional and display ads on a billboard somewhere in downtown, not only are you showing ads to your target market, you are also showing ads to a million other people who are not your customers.
As effective marketers, you might not want to waste ad dollars on people who won’t be buying from you.
So what’s an excellent way to find a luxury buyer? Target Frequent Fliers. High-earners are more likely to travel than in middle & low-income groups. By choosing a frequent flier interest you can rest assured that your ad is watched by businessmen who fly regularly for office work or vacationers going off to luxury destinations.
Only show ads to people with High-end Devices
Another way to find and target your niche buyers is by placing ads on High-end devices. The latest iPhones, Macbook Pro, and Samsung Galaxy phones are usually bought by people with considerable purchasing power. Use this behavioral targeting option to reach out to people who have already shown interest in buying expensive things.
Target High-Earning Jobs
Every business should know their customers in and out. The biggest tell-tale of an individual income is his job. From doctors to lawyers, you can create audiences based on high-earning jobs.
Do a quick search on google to find the highest paying professions in your area and find out who’s making the big bucks.
Find and target people who have a special occasion coming up
We shouldn’t always box our customers into neat little groups. Sometimes businesses experience seasonal shoppers as well.
It would be smart to prepare yourself for that welcome influx. Target audiences who have a special occasion coming up – a birthday, anniversary, or a newborn, most important life occasions are available to target with your Facebook ads.
Additional Tips to refine your audience
Building your audience is a process. It takes time to find the right audience for your Facebook ads and can require months of trial and error. One of the best practices to constantly improving your audience is to conduct an A/B test.
You should set up several audiences and test it using Facebook’s split testing tool.
Content creation and distribution are just two sides of the same coin. You really can’t have one without the other. All brands should ensure that there is equal effort, budget, and creativity put into distributing content as there is in content strategy. Fall short, and you might win the battle but lose the war.