Traditional media budgets may be under fire, but a new study from the Shullman Research Center suggests that they still present the best bet for reaching and engaging millionaires. The survey results indicate that traditional channels represent 4 of the top 5 advertising channels by reach among millionaires, with TV topping the list. And among those who saw advertising in the various channels, the highest level of interest in the ads was for print newspapers. The study defines millionaires as individuals with a personal net worth (total assets minus total debts) of at least $1 million, representing roughly 9% of US adults.
The top 5 channels by reach among millionaires, measured by the percentage who saw or heard advertising in the various places during the prior 30 days, are:
- TV (58%);
- Websites (46%);
- In mail sent to the home (44%);
- Printed magazines (43%); and
- Printed newspapers (42%).
Compared to the average adult, millionaires are significantly more likely to have seen or heard advertising on websites (46% vs. 36%), in printed newspapers (42% vs. 32%), on smartphones (23% vs. 17%) and in digital newspapers (23% vs. 12%), suggesting that digital is also a key medium for reaching them. However, millionaires are less likely to have been exposed to advertising on Facebook (34% vs. 42%), YouTube (22% vs. 29%), and in digital games (7% vs. 12%). Though that implies that social ads have a smaller influence on millionaires, there was no significant difference for Twitter.
In fact, Twitter emerged as one of the advertising platforms with the highest engagement potential for millionaires. The engagement potential was determined by measuring respondents’ interest (considerable or some interest) in the advertising seen or heard on each platform. (The percentage figures were limited to those who had been exposed to advertising on each platform.)
The top platforms among millionaires, in terms of engagement potential, were:
- Printed newspapers (74%);
- Digital newspapers (70%);
- Twitter (69%);
- Medical offices (67%); and
- Shopping malls (64%).
It should be noted again that those percentage figures are limited to respondents who had been exposed to advertising on each platform. When taking reach into account, print newspapers and TV were virtually tied at the top, with roughly 31% of millionaires having been exposed to ads on each platform in the past 30 days and being interested in those ads.
Previously, survey results from the Shullman Research Center indicated that traditional media ads are still bestÂ for reaching and influencing luxury buyers. Among B2B buyers and decision-makers, who have above-average household income, traditional media channels are among those with the greatest weekly reach, according to a new MarketingCharts Debrief [download page].
About the Data: The insights and data presented in the report are based on the Shullman Luxury, Affluence and Wealth Pulse, Fall 2013 Preview Wave, conducted online between August 20 and August 27, 2013, among adults age 18 or older.
Five sample groups were surveyed: in addition to a representative national sample of adults (500 interviews), four household-income segments were targeted to obtain the following number of completed interviews:
- $75,000 to $149,999: 256 interviews
- $150,000 to $249,999: 253 interviews
- $250,000 to $499,999: 253 interviews
- $500,000 or more: 251 interviews
Additionally, 496 respondents ”” 263 men and 233 women ”” in the survey wave reported that their net worth was $1,000,000 or more and constitute the basis for the report.
Results were weighted to bring the income groups, as well as other key demographics, into line with estimates from the March 2012 Current Population Survey as reported by the Bureau of the Census in the fall of 2012.