How to target ultra-high net worth individuals on social media

"Social media is a powerful marketing tool for reaching ultra-high net worth individuals (UHNWIs), but it requires a tailored approach and a thorough understanding of this exclusive audience. UHNW consumers frequently use social media platforms, with 99% using social media and spending close to 90 minutes per day browsing them. Brands can use these platforms to engage and build meaningful relationships with this audience."

"Each social platform serves a unique purpose and typically attracts different users - including several social platforms used exclusively by the world's wealthiest. For example, Best of All Worlds is an invite-only app designed to ensure that members don't find themselves 'overwhelmed with irrelevant connections'. Rich Kids is a quasi-Instagram, with membership costing US$1,000 per month. Yacht broker Northrop & Johnson's UHNW clients are highly active on LinkedIn, Instagram, and niche investment communities such as Wealthfront and AngelList."

"Create a targeted strategy It takes more than just creating a social media profile and posting content; you must understand the individual and their goals to target UHNWIs effectively. UHNWIs are often highly skeptical of marketing messages and will not respond to traditional marketing tactics. When targeting them through social media, focus your efforts on the correct channels. It's imperative to understand their lifestyle, interests, and values to develop content and messaging that resonates with them."

Ultra-high net worth individuals use social media differently and require tailored approaches to be reached effectively. Ninety-nine percent of UHNW consumers use social media and spend close to 90 minutes per day browsing platforms. Several platforms cater exclusively to wealthy users, including invite-only and high-cost services. Wealthy audiences are active on LinkedIn, Instagram, YouTube, Facebook, and niche investment communities such as Wealthfront and AngelList. Brands must develop targeted strategies that reflect UHNWIs' lifestyles, interests, and values. UHNWIs are skeptical of traditional marketing and require focused channel selection and personalized messaging to build meaningful relationships.

Read at The Drum