A HNWI is generally considered to be those with liquid assets (after liabilities) of £1m+. There are also Very HNWIs and Ultra HNWIs who fall into even higher brackets of liquid asset value – think royalty and footballers!

Targeting high net worth individuals (HNWIs) has always been challenging, but as media has fragmented, so too has the sought-after targets for luxury and financial brands. The days of simply buying a print ad in the FT are long gone.

These affluent individuals possess considerable financial resources and wield significant purchasing power, however, reaching HNWIs requires a nuanced approach, especially considering recent developments such as the demise of cookies. So, let’s explore effective strategies for targeting HNWIs both on, and offline.

Effectively reaching HNWI’s online

Forbes 2023 High Net Worth Survey found that the majority of HNWI’s now buy most of their luxury goods online, so for brands to continue to target these specific audiences after the end of 3rd party cookies, new methods will be required.

In the absence of third-party data, this means alternative targeting methods such as contextual advertising and first-party data. Contextual advertising involves placing ads on websites relevant to the content being viewed, thereby reaching HNWIs based on their interests rather than their individual browsing history.

Similarly, leveraging first-party data allows brands to target HNWIs using their own customer data, ensuring privacy compliance while still delivering relevant and personalised experiences.

How about social?

Social networks have emerged as powerful platforms for reaching HNWIs, offering unparalleled opportunities for engagement and interaction. However, not all social networks are equally effective in reaching this affluent audience.

Instagram, with its visually driven interface and emphasis on lifestyle content, has become a favourite among luxury brands seeking to connect with HNWIs. Similarly, LinkedIn provides a professional platform for targeting HNWIs in a business context. With its emphasis on networking and industry insights, LinkedIn offers a valuable opportunity for B2B (and increasingly B2C) brands to engage with affluent decision-makers in a more professional setting.

Or influencers…

You may think influencers are a new channel, but they certainly aren’t in the world of luxury. Take Rolex, they leveraged influencers right from the start, partnering with Mercedes Gleitze in 1927. She took on the challenge of swimming the English Channel in just under 16 hours and wore a Rolex Oyster timepiece, proving that it was indeed waterproof!

Should you consider premium publishers?

Another option for reaching HNWIs is a media buy with premium publishers. This could take the form of standard display, video, or a content partnership. By aligning with reputable publishers, brands can enhance their credibility and reach a targeted audience with relevant and engaging content.

Effective offline channels

In addition to online strategies, offline channels can also be effective in reaching HNWIs, particularly in highly curated environments such as wealthy neighbourhoods or exclusive sporting events such as F1, tennis, golf and rugby.

Digital out-of-home (DOOH) advertising in airports or wealthy neighbourhoods provides a captive audience of affluent individuals who are likely to be receptive to advertising messages. With eye-catching displays and targeted messaging, DOOH advertising can make a lasting impression on HNWIs during their daily routines.

A further option could be Taxi media, which offers another opportunity to reach HNWIs in urban environments, where affluent individuals are often on the move. By placing ads on taxis, brands can capture attention in high-traffic areas where other forms of advertising may be less effective.

Reaching high net worth individuals online requires a strategic approach that combines innovative digital strategies with traditional offline channels. By leveraging social networks, premium publishers, offline channels, and influencer partnerships brands can effectively engage HNWIs and drive success.

A new survey has found that over 90% of people aged 40-plus cannot remember a brand using someone their age in marketing campaigns. In totally unrelated news, according to the study by Anything But Grey, the average age of those working in the marketing and advertising industries is 36!

These two stats might not come as a surprise to you, but once you understand that the over 55’s hold £6 trillion of assets, or approximately 70% of all UK household wealth, it’s clear there’s a disconnect.

So, while all the excitement in the industry may be around platforms like TikTok which heavily skew towards a younger audience, there’s an undeniable value in reaching an older, more affluent audience. This untapped market holds immense potential for brands willing to broaden their marketing strategies and challenge the status quo.

Digital habits and preferences

Contrary to popular belief, anyone older than a Millennial is not automatically a technophobe, in fact the use of tech among even the oldest cohort, The Silent Generation, may well surprise you!

A report by the Centre for Ageing Better predicts that by the mid-2030’s half of all UK adults will be over 50. So, while focusing on traditional media (TV, Radio, OOH, Print) might well be a valid tactic, excluding digital would very much be a mistake.

Understanding the digital footprint of more mature audiences is key. They prefer user-friendly websites (who doesn’t?), value privacy, and enjoy content that resonates with their life experiences.

Brands should focus on creating an intuitive online experience that leverages familiar platforms like Facebook and email. The open web is also important to these audiences, with over half of over 55’s citing online as their main platform for news according to Ofcom. This is highest in the 55-64 bracket at 61%, dropping to 38% among 0ver 75’s.

Representation matters

We’ve previously written on this blog about the importance of inclusive marketing. The top 2 reasons we gave for ensuring representation were authenticity and reach. Unless your product or service is uniquely aimed at younger cohorts, there’s simply no point in excluding more mature audiences who have more buying power. But it’s not simply about targeting and channels, your creative is key.

Despite making up around a third of the UK population, over 55’s appear in only 23% of ads according to ITV. They also account for 65% of TV impressions. To combat this, the UK’s biggest commercial broadcaster has created an online resource called Wise Up!

Upon release of Wise Up!, star of daytime ITV, Lorraine Kelly said:

“I’m delighted to see a report which encourages advertisers to make the most of older people and their amazing lives and experiences. Because though we respect and love our older generations, we don’t always give them their share of media attention. Advertisers reading this – you have a proud tradition to uphold. Some of Britain’s best-loved ads have starred older characters.”

You can download the full report here, but key points include:

• Only 23% of the 1,000 highest spending UK TV ads even featured older people. (defined 55+)
• Only 6% over agency employees are over 50
• Research shows the over 55’s are hard to please – they’re ad-weary, critical, knowledgeable and completely sick of being patronised…
• But, they can be pleased by including relevant cultural references, celebrating friendships and experiences, emphasising society and the greater good, and by, of course, including people who look and act like them in ads!

To discuss how you can reach and engage mature audiences effectively, contact our expert team today.

A new survey has found that over 90% of people aged 40-plus cannot remember a brand using someone their age in marketing campaigns. In totally unrelated news, according to the study by Anything But Grey, the average age of those working in the marketing and advertising industries is 36!

These two stats might not come as a surprise to you, but once you understand that the over 55’s hold £6 trillion of assets, or approximately 70% of all UK household wealth, it’s clear there’s a disconnect.

So, while all the excitement in the industry may be around platforms like TikTok which heavily skew towards a younger audience, there’s an undeniable value in reaching an older, more affluent audience. This untapped market holds immense potential for brands willing to broaden their marketing strategies and challenge the status quo.

Digital habits and preferences

Contrary to popular belief, anyone older than a Millennial is not automatically a technophobe, in fact the use of tech among even the oldest cohort, The Silent Generation, may well surprise you!

A report by the Centre for Ageing Better predicts that by the mid-2030’s half of all UK adults will be over 50. So, while focusing on traditional media (TV, Radio, OOH, Print) might well be a valid tactic, excluding digital would very much be a mistake.

Understanding the digital footprint of more mature audiences is key. They prefer user-friendly websites (who doesn’t?), value privacy, and enjoy content that resonates with their life experiences.

Brands should focus on creating an intuitive online experience that leverages familiar platforms like Facebook and email. The open web is also important to these audiences, with over half of over 55’s citing online as their main platform for news according to Ofcom. This is highest in the 55-64 bracket at 61%, dropping to 38% among 0ver 75’s.

Representation matters

We’ve previously written on this blog about the importance of inclusive marketing. The top 2 reasons we gave for ensuring representation were authenticity and reach. Unless your product or service is uniquely aimed at younger cohorts, there’s simply no point in excluding more mature audiences who have more buying power. But it’s not simply about targeting and channels, your creative is key.

Despite making up around a third of the UK population, over 55’s appear in only 23% of ads according to ITV. They also account for 65% of TV impressions. To combat this, the UK’s biggest commercial broadcaster has created an online resource called Wise Up!

Upon release of Wise Up!, star of daytime ITV, Lorraine Kelly said:

“I’m delighted to see a report which encourages advertisers to make the most of older people and their amazing lives and experiences. Because though we respect and love our older generations, we don’t always give them their share of media attention. Advertisers reading this – you have a proud tradition to uphold. Some of Britain’s best-loved ads have starred older characters.”

You can download the full report here, but key points include:

• Only 23% of the 1,000 highest spending UK TV ads even featured older people. (defined 55+)
• Only 6% over agency employees are over 50
• Research shows the over 55’s are hard to please – they’re ad-weary, critical, knowledgeable and completely sick of being patronised…
• But, they can be pleased by including relevant cultural references, celebrating friendships and experiences, emphasising society and the greater good, and by, of course, including people who look and act like them in ads!

To discuss how you can reach and engage mature audiences effectively, contact our expert team today.

TikTok has always been at the forefront of innovation, providing users with a powerful platform to create captivating content with. However, their recent announcement takes creativity to a whole new level. Not content with disrupting the social media landscape, they’re now looking to pull a similar trick with out of home advertising (OOH), in addition to cinema and connected TV (CTV).

What is “Out of Phone TikTok”?

“Out of Phone TikTok” (see what they did there?) is a paradigm-shifting concept that extends TikTok beyond the confines of your mobile screen. It is essentially an expansion of the TikTok experience into various other devices and platforms. This bold move by TikTok is driven by the aim to provide users with more versatile and immersive content consumption options.

Coming to a billboard near you

Arguably the most exciting concept unveiled is TikTok’s OOH advertising solution. It extends the platform to digital billboards, offering brands an opportunity to connect with their audience in real-world settings. Let’s take a closer look at how this innovative approach to OOH advertising works and the benefits it offers:

1. Diverse Placement Options
TikTok’s OOH advertising solution provides brands with a wide range of placement options. This versatility allows businesses to tailor their campaigns to specific locations and demographics. From high-traffic city centres to niche markets, TikTok’s OOH advertising can reach audiences where they are most engaged.

2. Seamless integration with TikTok’s platform

One of the standout features of TikTok’s OOH advertising is its integration with the TikTok app itself. Users who encounter these ads on billboards or kiosks can seamlessly engage with the content using the app. This synergy between the physical and digital worlds enhances the user experience and maximises engagement.

3. Data-driven targeting

TikTok leverages its robust user data to enable precise targeting for OOH advertising campaigns. By analysing user behaviour and preferences, brands can deliver content that resonates with their ideal audience.

4. Creative Freedom

Creativity knows no bounds on TikTok, and the same holds true for OOH advertising. Brands have the freedom to experiment with various formats, from short video clips to visually striking images. This creative freedom allows for captivating and memorable campaigns that leave a lasting impact.

Other new platforms

“Out of Phone TikTok” is not just about OOH – it’s also about reaching other non-mobile platforms such as CTV. TikTok’s integration with smart TVs allows users to seamlessly transition from their mobile devices to the big screen. This integration is set to enhance the viewing experience, making it more enjoyable for users to watch their favourite TikTok videos on a larger display.

With “Out of Phone TikTok”, you can now access TikTok content through web browsers. This feature opens up a world of possibilities, making it easier than ever to browse and engage with TikTok videos on your computer or laptop. There’s even gaming console connectivity, allowing users to view TikTok’s while immersed in their favourite games.

The future?

TikTok has been a social media sensation, with nearly 20 million users a month in the UK. Whether the introduction of “Out of Phone TikTok” is a game-changer for OOH and other platforms remains to be seen. One thing is for sure, TikTok has changed the game when it comes to content creation, so it will be fascinating to see if it can make the leap from the phone in your pocket, to a giant digital billboard.

Humans are constantly evolving and adapting to their environment. If you want to observe this in action today, just look at your mum or dad (or grandparent depending on your age) pressing a doorbell, they likely do it with their index finger, whilst Millennials and Gen Zer’s press a doorbell with their thumb. This change can be attributed to mobile phone usage (and gaming to some extent too). Mobile phone usage is so ubiquitous it’s even changing how we evolve – something Darwin probably didn’t even conceive of when observing tortoises!
 
By 2025, it’s predicted that 95% of the UK (or around 65 million people) will own a smartphone. Mobile already accounts for nearly 60% of online adspend (IAB, 2023) and stands apart from other forms of online advertising due to its unique characteristics and user behaviour.
 
Since the advent of mobile devices, it’s been clear that mobile advertising requires a distinct approach to fully harness its potential and connect with users effectively. Here’s 7 ways to ensure that your mobile campaigns achieve the best possible results…
 
1. On-the-go audience

Unlike traditional desktop users, mobile users are often on the move. They access content while commuting, waiting, or during leisure moments. This behaviour creates a need for concise and impactful advertising that captures attention swiftly.
 
2. Interactivity

Mobile devices offer touchpoints that desktops cannot replicate. Interactivity through gestures, taps, and swipes enhances user engagement. Advertisers can tap into formats that create immersive experiences in ad units and on social media networks like Snapchat. Story formats on Instagram and Facebook require the user to interact with the ad.
 
3. Embrace social media platforms

Social media and mobile devices are tightly intertwined. Establish a strong presence on platforms frequented by your target audience to ensure strong organic reach. Boost content campaigns with paid media spend to increase reach.
 
4. Location-based targeting

One of the standout features of mobile devices is GPS capability. Advertisers can leverage this to deliver location-specific content, such as offers available at nearby stores. Location-based targeting ensures relevance and increases the likelihood of conversion. It also reduces wastage.
 
5. Optimising the mobile experience

Mobile users demand speed and convenience. Ensure that your website and landing pages are optimised for mobile devices. Quick loading times and easy navigation are imperative for retaining user interest. One second too long and you could lose the user.
 
6. Utilise video content

Video content has gained significant traction in mobile advertising thanks to TikTok. Short, engaging videos can convey your message effectively and leave a lasting impression. According to internal TikTok data, the perfect length of video is between 21-34 seconds.
 
7. Personalisation is key

Mobile devices offer stacks of personalisation opportunities based on user data. Use this to your advantage by delivering customised content, recommendations and offers that align with user preferences.
 
Mobile advertising has emerged as a powerful and unique way to connect with audiences on the move. Its distinct characteristics, coupled with user behaviours, demand strategies that captivate and engage. By comprehending the nuances of mobile advertising and implementing targeted approaches, you can unlock the potential for successful campaigns that leave a lasting impact. To learn more about mobile best practice, contact our specialist team today.