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The Rich Love Facebook

Last updated 7 years ago

For those of you considering social media marketing for your business, can you guess which segment of the population has tremendously adopted Facebook over Twitter?

Answer: The wealthy, meaning those people who have a net worth of $100,000 to $25 million. 

In other words, if you want to target America's millionaires, then your social media marketing plan has to incorporate Facebook.  For your social media marketing purposes, let's look at the stats to see how it all measures up...

According to a report by Spectrem Group called “Social Media and Affluent Households,” wealth is organized into 3 different groups: 1) mass affluent (net worth between $100,000 - $1 million), 2) millionaires (net worth between $1 million - $5 million), and 3) ultra high net worth investors (net worth between $5 million - $25 million) and here are the key findings:

1) 46% of American millionaires currently use Facebook (2011) and the millionaires group uses Facebook the most at 55%.

2) After Facebook, the wealthy choose to use LinkedIn.  The ultra high net worth investors group uses LinkedIn most often at 26%.

3) Twitter is used less frequently compared to Facebook and LinkedIn.  A total of just 14% (all wealthy groups included) use the service.

Why do you think the wealthy choose Facebook as their number one social media source?  Does your company integrate Facebook into its social media marketing?  After reading these statistics, has your perspective changed?  Why or why not?

About Alan Moore: Alan is an Internet Marketing Consultant with ReachLocal Baltimore.  His mission is to help you increase your revenues and decrease unproductive advertising expenses through proven, online marketing strategies.  He manages over $1.2 million in yearly marketing budgets and has worked with local businesses, agencies and the US government.  Give him a call at (877)655-3438 to schedule a free consultation.

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