Reaching the Rich

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The spending power of the wealthy naturally makes them a highly desirable target market. However, they can also be notoriously elusive to advertisers as high-powered jobs leave them with little time to actively consume media.

In order to gain greater insight into this lucrative sector, Kantar Media have published the latest edition of their annual Premier TGI study. It is a survey of adults (aged 20+) in Great Britain who have either a household income or saving and investments of £50,000+ or who are in the top AB social grades.

Based on these findings, Kantar Media organised consumers into quintiles from heaviest to lightest according their exposure to media of different kinds. They found that nearly three million fall into the heaviest category due to lifestyles involving relatively large amounts of commuting, shopping and sport as shown in the graph below.

Media and leisure activities

Source: Kantar Media

The findings related to shopping demonstrate that this group tend to have a high level of disposable income and a willingness to spend it on premium products. This is further evidenced by increased participation in sports requiring specialist and often expensive equipment such as mountain biking. These factors highlight the relevance of this group of consumers for medium and high-end brands.

So how do we reach them? With many working in London, long commutes account for this group’s Out of Home (OOH) exposure suggesting that advertising on public transport could be an effective way. The survey shows that the heaviest media users are more likely than average to engage with advertising on the commute and at work (see graph below). However, wastage is a concern as these premium consumers only make up a small proportion of the huge volume of passengers.

Media consumers advertising engagement

Source: Kantar Media

Print media could offer a more targeted option as this group were found to be around twice as likely as the average to read the free papers – the London Evening Standard, ES Magazine and the Metro. They are also 82% more likely to read the Financial Times reflecting their ambitious natures; the results show that many aim to reach the top of their profession and worry about work in their spare time.

Although the tube is an internet-free zone, we see digital marketing on portable devices as an increasingly important way to target these wealthy commuters when they download versions of their favourite publications. The added advantage of this is the detailed metrics available which make it far easier to establish the reach and effectiveness of a campaign.

Overall, we believe that it is logical to highlight the commute as a key time to target wealthy consumers as it is such a common feature in the lives of this particular demographic. In addition, the restricted range of activities available on public transport increases the likelihood of adverts attracting attention whether they be inside trains, in newspapers and in digital publications.

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